Are you looking for great profitable business ideas in Nepal?
You have come to the right place. In this post, I have listed a few great profitable ideas to do business.
Are business and entrepreneurship all about the idea? NO.
Ideas are great.
However, business is about putting hours and hours of work per day (and night as well). No matter how great your ideas are, without the right amount of energy, you can’t sustain the business.
That being said, ideas matter for business as well.
The first and foremost work that every entrepreneur has to do before starting a business is to validate the idea. It is called the bootstrapping phase of the business.
After that comes the startup phase. This is the phase where you bring life to the business.
How to identify the business ideas in Nepal?
Profitable Ideas are everywhere. We just need to wear that lens of an entrepreneur and grab those ideas.
I have a question:
Just remain calm, close your eyes and visualize where do you spend money in a single day. Try to remember every single transaction that you involve in.
If you have spent your money for it, then that must be a profitable business, right?
Well. This is a start, but not enough.
The world of business is full of uncertainty. No matter how prepared you are, there will always be surprises along the way. However, that should not stop you from diving into your niche.
Immediately, after an idea clicks in your head, try to do as much research as possible so that you validate the profitability of that particular idea.
Do you really need Huge Investment?
One of the biggest myths regarding doing business in Nepal is that people limit themselves before they start something.
Point to remember – Every billion dollar business was started with as little capital as few Thousand Rupees.
If you have a nice business model, you just need enough startup capital and working capital to keep going with your business.
Yes. I agree that to grow your business and expand it, you need investment especially from an external source. At some point, you need Angel investors or Venture Capitals, but that should not stop you from pursuing your dream of being independent and create something impactful to the society.
Enough with the backgrounds, let me mention the business ideas that I have listed as profitable ideas in the context of Nepal:
1. Indoor Gaming Clubs and Centre
Who does not like games, right?
Everyone loves to play. And, everyone needs recreation. Human Brain is made in such a way that it needs recreation. If you are able to tap into this desire of people, you can make a successful business out of it.
Here is an idea: Start a Futsal.
Futsal is the fastest growing sports in the world today. Many business people in Nepal have realized this and there is numerous Futsal today.
However, there are still some places where there is a huge demand for futsal, but really few Futsal.
Another idea is to start an indoor cricket. When I was a child, there used to be a lot of open places in the valley. Today, there aren’t many open places to play crickets so that they need a place to play. Why not monetize on this idea?
Other businesses would include traditional clubs like Gaming centers in Malls, Snooker centers and so on.
2. Restaurants and Bars
As far as restaurants and cafes are concerned, location is the most important factor which decides your success.
Apart from that, quality service, quality of food, the ambience of the room, etc also decides whether it attracts customers or not.
For this business, you need to build trust with your customers so that you follow the recurring income model.
And, even if you don’t actively market your product or service, you don’t run out of customers.
You might even make a membership card for you loyal customers and present surprise gifts to them. Or you may provide them compelling offers that they can’t ignore.
Work on making the great environment for your restaurant and you start attracting your ideal customers.
3. Fitness Club like Gym or Yoga Studio
As more and more people realize the benefits of fitness and yoga, the potential market for yoga and gyms are increasing.
These types of businesses work on a membership model.
Membership clubs are also a recurring income model. It’s like passive income for an entrepreneur.
However, you need a passionate and qualified trainer. You need to make the trainer feel that his/her work makes an impact in the world.
Although equipment for gyms might be expensive to directly start with this, you can start with few types of equipment and build upon it. Or you may start with a niche like Zumba, which doesn’t require that much of equipment.
4. Electronic Repair Shop [Mobile Repair / Spare Parts]
My friend has an electronic shop. I believe the business’s worth is around Rs. 6,00,000 before even 1 year of operation.
Everyone owns a mobile phone these days, especially Android or iPhone. This brings huge opportunities for someone who wants to start a small business.
5. Online Shopping / E-commerce Store
E-commerce is a bit new at this time. It has not been matured yet. People still prefer to travel to shops or malls in order to buy goods.
However, e-commerce is booming. We see online retail startups are increasing in number every year. Some are the niche retail like Metro Tarkari while some are full-service online retail like Daraz Kaymu.
What you might do is start with a niche. A niche which has not been explored. Sell something people can’t buy near their footsteps.
The simple truth is that if someone can buy something without traveling much farther, he will prefer to buy from the shop. So that, you need to come up with products that consumers can’t buy at ease.
After this becomes a habit and you start building a customer base, you may opt-in for other consumer products as well.
6. IT company
You will have a competitive advantage over others if you have a knowledge in the IT field. As most businesses realize that they need a web presence, there is a huge demand for website development.
Not just local clients, even international clients are interested to outsource their website design and development task to the It companies in Nepal.
It is a win-win situation for both parties.
It might be a bit difficult to retain professionals in this field as there is a huge demand.
Nevertheless, nurturing your team members’ growth would be a strategy to retain those talents. You have to praise them for their work – either with financial rewards or some other offerings.
7. Branded Mo:Mo Shop
Mo:Mo’s are really popular in the valley. Yet, there aren’t many branded momos. One that particularly comes to mind is Bota, which has many branches over the valley.
If you are able to make such a brand for Mo:Mo, it’s a lucrative source of revenue. Once again, location is an important factor.
Here are other business ideas which I have not elaborated but listed only. (I will be updating this post soon adding and describing other business ideas.)
9. Tuition Center
10. Event Management Company
12. Vegetable Farming
13. Homestay Tourism
14. Travel and Tours
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