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Trading Business Ideas: Are you looking to start a business? Trading business is an excellent option where procurement is an integral component. A beginner in trading can learn through customer and supplier interactions on the job. Also, you don’t need to start big in trading. With proper planning and well-budgeted investment, do miniature trading to better use your time. After all, almost all the big names like Microsoft, Apple, Amazon, etc., started as home-based and garage-founded projects. This article introduces you to small business ideas in India with zero, low or modest investments.
What Is Trading Business
There are many types of businesses, and the trading business is one of them. They buy their products from manufacturers and wholesalers and then sell them directly online. Their main aim is not to produce but to sell. Apart from that, they keep this product in warehouses and sell it for more profit when the price is reasonable. This trading business is not limited to the region or country; foreign trading is also widely used. Now trading is done with various facilities according to the growing technology.
How To Start Trading Business?
Important steps to take before starting your trading business ideas:
Research Your Market Segment
Research is very important in trading business ideas. Because before you start any business venture, it is important to analyze and decide on the available options and the best market segment for you. Using your experience and research before making any decision will give you the best result. That is why market segmentation is very important in trade business ideas
Product and Market Research:
Product and Market Research is also very important in trading business ideas because once a business starts, the antidote is very important for its success, so research the product, its details, quality, price, demand, availability of supply, etc. Apart from that, Product and Market Research is very necessary for trading business ideas to increase our business according to competition.
Understanding the trading business strategies of your competitors will teach you to win and appreciate the method used by your competitors. It also gives you market insight, supply and demand knowledge, and information on the main points of the market.
You need to be up to date with your paperwork, licensing, accounting, and more. Make sure you have a valid tenancy agreement, GST registration, shop or trader registration, etc., to start a small trading business ideaas.
Marketing: Trading is the sole purpose of profit. Driving sales through effective marketing strategies, promoting your services, advertising, and market reach is key to achieving better sales.
Trade Business Ideas Benefits
Here are some new profitable trading business ideas to explain
Drop Shipping: Trade Business Ideas
Drop shipping is one of the most important. The concept of drop shipping involves selling a physical product online. The product is manufactured, stocked, and shipped by the manufacturer. Whenever a customer purchases a product online on your website, your automated software notifies the manufacturer, and the product is shipped directly from the manufacturer to the customer.
This product trading business idea is not expensive to start and has a low investment and high commission return possibility. In time, you can escalate it to an eCommerce store where you can stock it and ship it to the customer. The critical importance here is identifying the best product in terms of returns through comprehensive strategy and market research.
Fast Moving Consumer Goods (FMCG) Products:
Role of FMCG in Top Small Trading Business Ideas: Products have a limited shelf life and sell out quickly. Such products include bread, chocolates, biscuits, detergents, and soap. FMCG is the fourth most significant contributor to the Indian economy.
To become an FMCG brand distributor, you must buy and stock their goods while supplying them to grocery stores, retailers, small shops, etc. Orders should be volume-based to generate profits. For this trading business in India, you will need staff for supply arrangements, warehousing, delivery, logistics, and management support.
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Wholesale Grocery Trading Business ideas:
These wholesale trading business ideas in grocery items have high-profit margins. In this trading business, you are an intermediary who buys various products like food and groceries from a manufacturer, stores them, and sells them directly to consumers or other grocery retailers, restaurants, hotels, etc.
If you want to stock dairy products, cool drinks, etc., you will need enough warehouse space to stock the items, suitable storage bins, a delivery facility, and a freezer/cooler.
Coffee Export Trading Business Idea :
Coffee is the second largest commodity in the world after oil. UK, Europe, and USA import coffee from India and Brazil. Demand for coffee sales has increased by 90% in the last five years. It is the best product for trading business in India. Export/import is profitable and knowledge-intensive as there are many processes to follow, and you need excellent contacts with coffee importers.
A coffee exporter can also sell coffee to large restaurants and food chains with many coffee outlets. A warning! Coffee prices are volatile, and supplies are easily affected by weather variations. Although Brazil is the largest exporter of coffee, Indian coffee has its taste, market, and demand. Before starting this type of trading business, study the international supply chain of Europe, the USA, and the UK, the largest importers of Indian coffee.
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If you’re scouting for an eco-friendly merchandising business that promises to boost the environment, a scrap business is a way to go. This business includes buying used items, retouching and selling them, using waste for bio-digesters, recovering gold from electronic items, dismantling and reusing structures and building assemblies, and more. There is a possibility of high returns, and opportunities in junk will rate as India’s best trading business ideas.
For material handling, you need a warehouse to stock flat form and hanging scales, gas tanks, acetylene torches, tools, pulleys, etc. You will also need a delivery truck to transport the items to the clients’ destinations. Get the word out among buyers of old, used, and recycled objects and look for bulk disposal of scrap items from garages, factories, schools, etc. A website and online presence can be of immense help.
Business is an investment, labor, marketing, and storage-intensive. Garment trading is also mentioned as a very useful and good profitable trading in the top small trading business ideas. In this trading you have to study the fashion trends in the market and zero in on the market niche like kids and baby wear, men’s ethnic wear, business suits, women’s wedding trousseau etc. Next, you need to identify a wholesaler, manufacturer or company to buy stocks from.
Your warehouse and marketing location should be in a commercial area known as a wholesale clothing market. Choose a trending niche like baby wear as the segment is growing fast, and the demand is never-ending! For example, Surat is famous throughout Asia for its textiles and clothing. Delhi, Mumbai and Kolkata have many wholesale markets for clothing with thousands of best-selling stores.
Trading in Soft Drinks
Distributors of soft drink companies make a nice small trading profit. Start as a distribution agency supplying weddings, restaurants, retailers, small shops, etc. It is a cash and carries business with a limited shelf life. Festivals, weddings, and other celebrations can see high demand for soft drinks. Capital investment for name brand distribution licenses may be up to ₹5 lakh. In this highly profitable business, you will need a stocking warehouse, delivery truck, staff, and salespersons.
Export of Carpets
Export carpets is also a very profitable trading business and one of the top business ideas in India. The Mughal era made carpet trading in the handicraft sector very popular and is one of the top small business ideas. India produces high-quality handmade carpets and has a 35% share of the world carpet market. In India, carpet production centers are Banaras, Jaipur, Agra, and more.
You will need an export license and IEC (Import Export Code) certificate and must approach the manufacturers and buyers of carpets. Also, register with CEPC-Carpet Export Promotion Council, which acts as a go-between for manufacturing companies, wholesaler members, and interested buyers. You will also need facilities for logistics and shipping. It is important to learn the carpet industry’s low down, such as carpet quality parameters, knots per square inch, materials used, and more.
Wholesale Jewelry Business
Jewelry is considered stylish and has been a trend forever. Recent trends show a growing demand for imitation jewelry items over other small trading business ideas due to their low costs and convenient access. You can also trade silver, gold, diamond items, or artificial jewelry.
It would help if you studied fashion trends and found the best wholesalers and manufacturers. It does not require much space and can start with a low investment budget. Making jewelry items is also great, where you can sell them to retailers and online directly to consumers. However, remember that advertising and marketing are the main concerns for drawing customers.
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