18 Small Business Ideas in Assam

source: tripadvisor

The rewards of a small business in Assam often far surpass the hardships of the business. It provides the owner power of control and flexibility which very few fields can match. Apart from that it also provides the business owner with a scope to pursue their passion and unleash creativity.

Although small businesses are associated with considerable financial risks, they also reap significantly high financial gains. Let’s look at some lucrative small business ideas in Assam to start a great venture in the business world.

The following list of small-scale business ideas in Assam can help an entrepreneur to get a fresh insight into the possibilities of small businesses. Furthermore, it will provide the necessary information to help one take the necessary first step.

1. Tea Business

In 2021, the consumption of tea in India was 1.1 billion kg. This hot beverage is very closely related to Indian culture and our daily lifestyle. Assam, being one of the major tea-producing states in India can make a significant profit in this business.

Investment: Minimum ₹1 lakh

Set-Up Requirement:

To start the business you would need to go through the following steps:

• Step 1: Complete the official registration with the authorities.
• Step 2: Legalise your tea business.
• Step 3: Complete the GST registration.
• Step 4: Complete the Small Scale Industry (SSI) / MSME registration.
• Step 5: Get a trading licence.
• Step 6: Obtain an FSSAI licence.
• Step 7: Plan on branding and marketing.

Benefits

The benefits of a tea business are:

• It requires low investment.
• Increased demand due to the regularity of customers.

Market Potential

Currently, the market is growing at a CAGR of 4.2%. In 2026, the Indian tea industry can expect to attain 1.40 million tons.

Profit Margin: 30-40% on total revenue.

2. Ghost Pepper Production

source: indiatimes

Ghost Pepper, widely known as Bhut Jolokia, is a chilli pepper that is cultivated in Northeast India. According to Guinness World Records Bhut Jolokia, being 170 times hotter than Tabasco sauce, is the world's hottest chilli paper. Production of Ghost Pepper can be a profitable low-investment business in Assam.

Investment: No information available

Set-Up Requirement:

To start the business one needs to go through the following steps:

• Step 1: Learn about the business potential.
• Step 2: Complete the official trade registration process with the authorities.
• Step 3: Legalise your Ghost Pepper production.
• Step 4: Complete GST registration.
• Step 5: Complete MSME registration.
• Step 6: Get a trading licence.
• Step 7: Obtain a Food Safety and Standards Authority of India (FSSAI) licence.
• Step 8: Work on branding and marketing.

Benefits

Advantages of Bhut Jolokia business are:

• The market is continuously growing.
• Apart from applications in cuisines, it helps in treating diseases such as heart diseases, skin diseases, cancer, and low blood sugar.
• The profit margin is very high.

Market Potential:

One can cultivate nearly 1500 seedlings per bigha (0.13 hectare). According to market research, on average one can make a profit of ₹20000 to ₹25000 per bigha of land in a crop cycle. The price of Ghost Pepper reaches a starting price of ₹1800 to ₹2000 per kg for international exports.

Profit Margin: Upto 60% on Dried Peppers on total revenue.

3. Candle-Making Business

Selling homemade candles can be one of the most rewarding small business ideas in Assam. Homemade candles are an essential home décor item and it has several other commercial uses in places like spas and restaurants.

Investment: ₹25000 - 2.5 lakhs

Set-Up Requirement:

To start a successful candle-making business follow the below-mentioned steps carefully:

• Step 1: Conduct market research and develop a proper business plan.
• Step 2: Name your brand and create a unique visual brand identity.
• Step 3: Gather raw materials and machinery to make candles.
• Step 4: Build an online store to sell your products.
• Step 5: Create an online and offline marketing plan.

Benefits:

The benefits of the candle-making business are:

• Generally, it has a low-cost entry.
• The craft is easy to learn.
• Products are easy to customise and sell.

Market Potential:

In 2022, the value of the global market size was ₹98160 crore (approx.). It is expected to grow at a CAGR of 5.7%.

Profit Margin: 25-50% on total revenue.

4. Courier Service

source: forbes

Many consumers of the e-commerce industry are attracted to online businesses nowadays. Courier companies are a crucial driving force behind all e-commerce businesses as it forms the only means of direct contact between the customer and the company. So, in Assam, a reliable courier company can be very profitable.

Investment: Minimum of ₹1 lakh

Set-Up Requirement:

Here are some of the steps that one must take before starting this business:

• Step 1: Make a well-thought-out business plan.
• Step 2: Get a storage space.
• Step 3: Obtain functional vehicles.
• Step 4: Take out business insurance.
• Step 5: Create a business name and logo.
• Step 6: Complete all of the legal paperwork.

Benefits:

The advantages of a courier business are:

• The demand is unending.
• It is highly profitable.

Market Potential:

In 2021, the courier service market was valued at ₹3116580 crore (approx.). With a growth rate of 5.7%, it is expected to reach ₹5382440 crore by 2031.

Profit Margin: 35-40% on total revenue.

5. Poultry Farming

source: livestockmiddleeast

Raising birds domestically or commercially for eggs, meat, and feathers can be one of the most profitable small business ideas in Assam. Turkeys, chickens, geese, and ducks dominate the market whereas squabs and guinea fowl can be of local interest.

Investment: Around ₹50000 to ₹1.5 lakhs

Set-Up Requirement:

One can take the following steps to set up a poultry farm:

• Step 1: Make a proper business plan.
• Step 2: Select the type of birds you want to deal in and the corresponding sector.
• Step 3: Decide on the location.
• Step 4: Gather necessary licences.
• Step 5: Select a scale of investment and start marketing.

Benefits:

The advantages of poultry farming are:

• It requires comparatively small capital investment.
• It has a high-profit margin and provides a quick return on investment.
• The demand is constant.

Market Potential:

In 2022, the Indian poultry market was valued at ₹190530 crore (approx.). From 2023 to 2028 it is expected to show a CAGR of 10.18%.

Profit Margin: 25-30% on total revenue.

6. Yoga and Fitness Centre

Yoga and Fitness Centre can be one of the most lucrative low-investment business ideas in Assam. If you love practising yoga and are passionate to teach it to other people consider opening a studio or a centre. The yoga and fitness industry is thriving at the moment, so it is a lucrative option.

Investment: Around ₹5 lakhs

Set-Up Requirement:

To open a yoga and fitness studio you have to go through the following steps:

• Step 1: Have a clear vision of the studio/centre.
• Step 2: Conduct a thorough market research.
• Step 3: Create a business plan and work on the finances.
• Step 4: Pick the best location possible.
• Step 5: Complete registration and obtain licences.
• Step 6: Hire knowledgeable staff.
• Step 7: Develop a marketing strategy.

Benefits:

The benefits of opening a yoga and fitness centre are:

• Yoga studios and fitness centres are highly profitable.
• After an initial investment, no hefty investment is necessary.
• The demand is constantly increasing.

Market Potential:

The health and fitness studio market holds a value of ₹572600 crore (approx.) globally. Over the next 5 years, it is expected to have a CAGR of 11.86%.

Profit Margin: Minimum of 15-25% per annum on total revenue.

7. Interior Designing Firm

source: squarespace

An interior design firm can be an excellent option if anyone is looking for a small-scale business in Assam. The idea of converting empty commercial or residential spaces into aesthetically pleasing, efficient, and fully functional offices or homes is currently very much prevalent in Assam, making it a lucrative business idea.

Investment: Approximately ₹50000 to ₹ 1 lakhs

Set-Up Requirement:

To set up an interior designing firm one has to take the following steps:

• Step 1: Conduct market research and develop a business plan.
• Step 2: Decide on a business structure and complete brand registration.
• Step 3: Obtain necessary permits and licences.
• Step 4: Secure necessary funding.
• Step 5: Get business insurance.
• Step 6: Create a website for the enterprise and showcase its portfolio.
• Step 7: Establish valuable relationships with other professionals in the industry.

Benefits:

The advantages of an interior designing firm are:

• The demand is constantly growing.
• It provides creative liberty.
• The work lifestyle is also unconventionally free.

Market Potential:

The interior design services market size is expected to increase by ₹278357 crore (approx.) within 2027. From 2022 to 2027, it is expected to see a growth rate of 5.16%

Profit Margin: 35-40% net profit on total revenue.

8. Clothing Business

source: simpleviewinc

Starting a clothing business in Assam can also be a great business idea that takes comparatively little investment. Furthermore, new opportunities such as marketing and selling products online give room for expansion and growth.

Investment: Around ₹5 lakhs

Set-Up Requirement:

To set up a clothing business you can consider the following steps:

• Step 1: Identify your niche in this industry and stick with it.
• Step 2: Figure out your target audience.
• Step 3: Put together a marketing plan.
• Step 4: Choose a brand name and generate brand assets.
• Step 5: Register your business with the state.
• Step 6: Get the products (Buy from wholesalers or design yourself. You can also get them manufactured or do it all in-house).
• Step 7: Price your products.
• Step 8: Distribute and market your brand.

Benefits:

The benefits of a clothing business are:

• Business operations are simple.
• Comparatively have greater flexibility.
• Easy to motivate the audience for an "Impulse buy".

Market Potential:

With a CAGR of 7% the global clothing market grew from ₹4989800 to ₹533360 crore (approx.) from 2022 to 2023. Furthermore, it is expected to reach ₹6789400 crore (approx.) in 2027. 

Profit Margin: 30-60% profit on total revenue.

9. Bakery

source: snackandbakery

In the last couple of years, the demand for baked items has seen steady growth. However, there are various types of bakery businesses (retail and wholesale) and services (home bakery, bakery cafe, counter-service bakery, food-truck bakery, specialty bakery etc.) to choose from in Assam.

Investment: ₹1.8 lakhs on an average

Set-Up Requirement:

To start a bakery business you need to go through the following steps:

• Step 1: Make a bakery business plan.
• Step 2: Get all licences and permits for bakery business in India.
• Step 3: Make a decision about the location.
• Step 4: Buy necessary equipment.
• Step 5: Obtain the manpower.
• Step 6: Create an attractive display area for your bakery.
• Step 7: Partner with online food aggregators.
• Step 8: Carefully handle the marketing and branding.

Benefits:

The advantages of having a bakery business are:

• The market is recession-proof.
• It gives greater control over products.
• There is room for creativity.

Market Potential:

The bakery market is expected to grow from ₹3402880 to ₹4826200 crore (approx.) from 2021 to 2028 with a CAGR of 5.12%. 

Profit Margin: 20-40% profit on total revenue.

10. Photography

A photography business is one of the best small business ideas in Assam that can be a great both a secondary source of income and a primary source of income if one puts in hard consistent work. To succeed in this business you need a proportional blend of creativity, passion and business skills.

Investment: ₹1 lakhs-₹10 lakhs minimum

Set-Up Requirement:

To start a photography business consider going through the steps:

• Step 1: Arrange for the basic business requirements (licences, insurance, legal services, accounting services, business card).
• Step 2: Buy a camera and related equipment.
• Step 3: Get software and digital services (website, editing software, online proof gallery etc.)
• Step 4: Decide a business name and brand development plan.

Benefits:

The benefits of having a photography business are:

• The rise of social media increases the demand for photography services.
• There are various lucrative fields that centre around photography.
• It offers flexibility.

Market Potential:

The global photographic services market is expected to reach ₹359920 crore (approx.) with a CAGR of 5% in 2025.

Profit Margin: Approximately 50% profit on total revenue.

11. Coffee Shop

source: squarespace

It is very apparent that we have developed a culture around drinking coffee, whether to just have a good time, celebrate a new friendship or meet for business, coffee can accompany just about anything perfectly. So, opening a coffee shop in Assam can be a profitable idea.

Investment: ₹10 lakhs-₹50 lakhs depending upon location

Set-Up Requirement:

To set up a coffee shop one needs to go through the following steps:

• Step 1: Make a coffee shop business plan.
• Step 2: Choose the location after considering influential factors.
• Step 3: Design your shop menu.
• Step 4: Try a sample of various roasters and choose your coffee.
• Step 5: Buy necessary coffee shop equipment.
• Step 6: Be proactive about inventory management.
• Step 7: Determine the pricing.
• Step 8: Create your shop’s marketing strategy.
• Step 9: Follow the trends and make adjustments wisely.

Benefits:

The benefits of having a coffee shop are:

• It is highly profitable.
• Customers can use it as a temporary workspace.
• Creates an environment of socialisation for customers.

Market Potential:

In 2021, the coffee shop market size was valued at ₹1619640 crore (approx.). With a CAGR of 3.5%, it is expected to reach ₹2134980 crore (approx.) from 2022 to 2029.

Profit Margin: 2.5-6.8% net profit on total revenue.

12. Fast Food Centre

source: blogspot

If there is one business that can face no downfall in India, it is the fast food business. The idea of opening fast food shops in Assam is also a very profitable small business idea as this state attracts a lot of tourists across the globe.

Investment: ₹15 lakhs-₹30 lakhs depending upon the area in sq ft

Set-Up Requirement:

To start a fast food business one needs to go through some elementary steps:

• Step 1: Make a business plan.
• Step 2: Figure out the initial investment.
• Step 3: Complete the store registration.
• Step 4: Obtain all licences and permits.
• Step 5: Choose the location carefully and decide on a theme.
• Step 6: Buy all kitchen utensils and machinery
• Step 7: Tie up with vegetable, meat and grocery vendors.
• Step 8: Hire experienced chefs, helpers and delivery executives.
• Step 9: Market your fast food business online.

Benefits:

There are several advantages of a fast food business:

• It is highly profitable.
• This business is recession-proof.
• Fast-food businesses can have a massive variety of items.

Market Potential:

In 2021, the global fast-food market size was valued to be ₹5292460 crores (approx.). Within 2028, the market is expected to reach over ₹8163640 crore (approx.) with a CAGR of 4.6%.

Profit Margin: 5-8% net profit on total revenue.

13. Beauty Salon

Opening a beauty salon can be a highly profitable venture in Assam. The current trend also adds value and ensures stability. It requires a small initial investment but promises steady high returns.

Investment: ₹40000 to ₹50000 depending upon the area in sq ft

Set-Up Requirement:

Before starting your beauty salon journey take a look at the following steps:

• Step 1: Have a definitive salon concept.
• Step 2: Create a business plan keeping the salon concept in mind.
• Step 3: Carry the business registration process.
• Step 4: Choose a proper location for your business.
• Step 5: Buy necessary equipment instead of renting to save long-term costs.
• Step 6: Hire professionals.

Benefits:

The advantages of the beauty salon business are:

• It will not run out of demand.
• Profit is high.

Market Potential:

In 2022, the value of the global salon service market was ₹1758700 crore (approx.). It is expected to reach ₹3132940 crore (approx.) by 2030 with a CAGR of 7.55%. 

Profit Margin: 8.2% minimum on total revenue.

14. Cab Service

source: deccanherald

The demands for taxi services are very high nowadays which is self-evident from the rise of companies such as Ola and Uber. It is a profitable idea to set up a cab service business in Assam. One can do this by developing an app or setting up a centre offline.

Investment: Approximately ₹10 lakhs

Set-Up Requirement:

To start a cab service go through these steps:

• Step 1: Ready a proper business plan.
• Step 2: Establish route plans and tariffs.
• Step 3: Establish the funding.
• Step 4: Plan for driver hiring and vehicle acquisition.
• Step 5: Register the business.
• Step 6: Acquire office space.
• Step 7: Get car insurance.

Benefits:

There are several benefits of cab ride services in Assam:

• Helps commuters to reach their destination.
• Availability of cabs can help commuters in saving time from waiting.
• Helps to commute during adverse weather conditions.

Market Potential:

In 2021, the taxi market was valued at ₹1742340 crore (approx.). It is expected to reach ₹2912080 crore (approx.) by 2027 with a CAGR of 8.95%. 

Profit Margin: 35%-40% on total revenue.

15. Aquaculture Business

This capital-intensive business can fetch satisfactory profit if you have the knowledge, skill, and patience necessary for growing an aquaculture farm. It is a plausible option in Assam as the state government itself promotes it.

Investment: Minimum ₹30000-₹40000

Set-Up Requirement:

To start an aquaculture business go through the following steps:

• Step 1: Decide what the capital should be.
• Step 2: Investigate schemes and loans for fish farming.
• Step 3: Conduct a thorough market research.
• Step 4: Learn fish farming from authentic institutions.
• Step 5: Assess your location and choose a relevant sector of aquaculture.
• Step 6: Build connections with logistic partners, suppliers and buyers.

Benefits:

The advantages of the aquaculture business are:

• One can start aquaculture with a small investment.
• Its demand is increasing steadily.

Market Potential:

In 2021, the global fish farming market value was ₹2192240 crore (approx.). With a CAGR of 5.4%, it is expected to reach ₹3345620 crore (approx.) by 2030.

Profit Margin: 15%-20% on total revenue.

16. Travel Agency

In India, tourism is one of the largest operating industries. Many Indian states depend on tourism to generate their primary revenue. Assam is one of the states in India that attracts a lot of tourists, so opening a travel agency can be one of the most profitable small business ideas in Assam.

Investment: Minimum ₹3 lakhsSet-Up Requirement

To set up a tourism business one needs to go through the following steps:

• Step 1: Decide on a sector of tourism.
• Step 2: Conduct a competitor analysis.
• Step 3: Create a well-thought-out business plan.
• Step 4: Gather necessary funding.
• Step 5: Get all business permits and licences.
• Step 6: Market your tourism business.

Benefits:

The benefits of a tourism business are:

• It offers tremendous earning potential.
• This business means more opportunities to travel.
• It requires no formal education or degree.

Market Potential: 

The market potential for the tourism business is stupendously high as its value is expected to reach approximately ₹1308800 crore (with a CAGR of 5.4%) from 2022 to 2030.

Profit Margin: 10%-15% average net profit on total revenue.

17. Event Management

Event management is another option available under the most lucrative small business ideas in Assam as people now desire grand weddings and functions. It is a less-capital intensive business and provides comparatively larger returns.

Investment: Around ₹1 lakh - ₹3 lakhs per month.

Set-Up Requirement:

Go through the following steps before starting an event management business:

• Step 1: Determine if you are a good fit for the role.
• Step 2: Build credibility with certifications.
• Step 3: Create event management business plans.
• Step 4: Obtain all licences and permits.
• Step 5: Get insurance.
• Step 6: Figure out finances.
• Step 7: Build a team with experienced professionals.

Benefits:

The advantages of having an event management business are:

• Event management businesses have a high rate of recurring clients.
• Helps in building connections.
• It has very less marketing overhead.

Market Potential:

In 2019, the value of the event industry market was ₹9284300 crore (approx.). It is expected to reach ₹12695360 crore (approx.) by 2028 with a massive CAGR of 11.2%.

Profit Margin: 25%-30% average net profit

18. Play School

source: news18

Currently, the idea of play schools or preschools is very prevalent. That is why providing children (between 2 and 4 years old) with an experience of mixed learning and playing can be one of the most profitable and satisfactory small business ideas in Assam. It also requires businesses to help them develop learning capabilities and social skills.

Investment: Around ₹6 lakh - ₹10 lakhs

Set-Up Requirement:

To set up a play school go through the flowing points:

• Step 1: Set a budget.
• Step 2: Acquire land or rent a plausible space.
• Step 3: Purchase all necessary equipment.
• Step 4: Plan for extensive pre-launch activity.
• Step 5: Hire experienced teachers and start the journey.

Benefits:

The benefits of having a play school are:

• It provides high returns with an affordable investment.
• You can create a positive impact on society by educating children.

Market Potential:

In 2022, the Indian play school market size reached ₹24540 crore (approx.). It is expected to grow with a CAGR of 11.2% and reach ₹57260 crore (approx.) by 2028.

Profit Margin: 30% minimum net profit on total revenue.