Published on Jan 7, 2021Updated on Nov 28, 2023
People who have business ideas also have the vision to see the reward. Risk and reward go hand in hand. However, one common foundation of all business ideas is to decide what to promote or market and how. With a diverse country like ours, one can find potential in unending products and services. One needs to identify a good idea for business, and also the ways to offer it correctly. One needs to do constant research, develop strategies, price the product well, find the right audience, maintain quality standards, profitability, etc. But the epicentre will always be the product or service that is chosen.
One such area is wholesale business with abysmal potential. Wholesale Business ideas are one of the most profitable options available in India. This is a setup where the goods reach consumers from a chain of suppliers. This creates business opportunities for wholesalers. Manufacturers sell the products to wholesalers at a slightly lower rate. Wholesalers, in turn, sell the same products to retailers at a higher price. The opportunity to make the money in between makes wholesale business ideas worth it.
We have listed the 20 best wholesale business ideas to start:
Textile tops the list of wholesale business ideas. It’s not only a lucrative business segment, but it also offers versatility. There is a wide range of products available like thread, fabric yarns, home furnishing, readymade garments, footwear, accessories, etc. This variety creates a huge opportunity for profits. One needs to have knowledge of the textile industry before starting.
India is a country that largely depends on agriculture and hence agriculture can be one of the best wholesale businesses to start. Selling equipment used in agriculture can be highly profitable. Also, users are always keen on using the latest technology that is being used in agriculture. The range is from fertilizers to pesticides to organic seeds to heavy built machinery like tractors.
Jewellery business is a capital intensive business. The market is a niche for jewellers but it attracts loyal and dedicated customers. Clients will keep coming back if they like the designs and quality.
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Furniture is a must in all households. Metros have numerous flats and private houses coming up. This rise promotes furniture business, which can give wonderful returns too.
Organic food is receiving unprecedented interest as everyone wants to maintain a healthy lifestyle. Organic products are sold offline as well as online. Manufacturers are looking for distributors to reach every town to sell their products. Targeting the wholesale market of organic food can give local and international opportunities.
Ayurveda is a preferred option by many as it offers chemical-free products. One believes that Ayurveda products are harmless, making this business fruitful. There are a variety of Ayurveda products that are sold as wholesale with correct pricing and discounts.
Wholesale business of stationary can be profitable as the demand does not drop. Educational institutions and corporate constantly need them. It is not a high capital investment. This business can also offer innovative products. The return on this business is huge if one has the right connections with the correct retailers.
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This is one of the biggest markets in recent times and is expected to grow bigger. Consumers are looking for unique and interesting toys. Importing toys abroad is also a wholesale idea that one can pursue and expect good returns. Moreover, the Indian government is also promoting this industry and has been providing ample benefits which you could take advantage of.
Some of the kitchen essentials are going through innovation, which rises demand. This includes basic utensils like frying pans, cookers, dishes, etc.
Food is a large market in India with limitless opportunities. People carry snacks while commuting and store all types of snacks at home. Our country is full of snack corners, which are the highlight of the localities. Wholesaling snacks from far-off places, packaging them and ensuring that they reach every nook and cranny falls under distribution business.
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The requirement of medical equipment has grown manifold in recent times and is one of the most profitable ventures. With the government’s increased level of spending on healthcare infrastructure and increased level of spending on healthcare by people, the medical equipment business is a good business to start with.
Safety and security of lives and assets is a prime concern of every individual and business enterprise. You can consider setting up business related to safety and security equipment like CCTV surveillance systems, fire-fighting equipment, protective equipment, X-ray baggage and metal scanners etc.
Setting up a business related to selling white good products of leading brands is a very profitable business venture. This is a rapidly growing sector and one can differentiate their business from others by offering quality products and prompt service, which the customer always looks for.
Compared to earlier days, people nowadays are concerned about their personal wellness and beauty. And, going with the trend, many companies have launched products that fill the gap in this segment, like fragrances, hair care, bathing products, male shaving products, etc. The segment is witnessing huge growth in the recent past.
With the prevailing low-interest rate on housing loans and the government’s push towards affordable housing, dealing in building and construction items has become more profitable. Upon that, increasing people’s preference towards certain brands and use of different grades of construction material is making it an attractive business idea.
It’s an emerging business model that offers a lot of growth potential. For example, setting up corporate gifting solution companies or dealing in the handicraft market that has huge demand in the overseas markets can give you a handsome return on your investments.
Dealing in automobile spare parts, accessories, vehicle merchandise are very profitable businesses. With a growing number of cars and bikes on roads in India and people’s growing appetite for custom design auto products in order to stop depending on public transport, especially after the COVID-19 pandemic, the automobile products business has witnessed huge growth in the recent past.
The glassware business is now not just limited to cutlery and crockery sets, but has expanded to office spaces too. The use of specialised glasses in offices and buildings has increased a lot in recent times and has become a full-fledged and profitable business.
India is the second-largest producer of natural rubber and is also the biggest consumer of rubber. This provides a giant market for any wholesaler and business dealing in rubber. In India, rubber is mostly consumed by the automotive industry, footwear, pharmaceutical industry, etc.
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The demand for quality grains is continuously growing up around the world. This provides a unique opportunity to set up a business around sourcing quality grains from producers states and farmers and getting them distributed in the market. And, this business will continue to witness demand for the years to come.
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To start a wholesale business without hesitation, here are some tips:
We have seen the best wholesale business ideas above. Business loans at attractive rates allow people to achieve their business dreams. The past few years have experienced tremendous growth in personal loans. Business loan interest rates at SMFG India Credit and fees are customized to suit clients’ profiles and needs. Before applying, please ensure that you go through our Business loan eligibility criteria for a better understanding.
SMFG India Credit welcomes self-employed individuals, proprietors, private limited companies, and partnership firms, individuals in current business for at least three years with a total of five years of business experience. MSME loans also are a rising segment. To be eligible for a business loan at SMFG India Credit, applicants should be a minimum of 22 years of age and a maximum of 65 years of age at the time of maturity of the loan. SMFG India Credit understands that borrowing for business is a stepping stone to the achievement of big dreams.
Wholesale in textile, medicine, stationery items, plastic products, and electrical appliances are most profitable in India. Apart from this, you can go for agricultural products, car parts, building construction materials, arts & crafts, cosmetics, furniture, and jewelry wholesale businesses. Even hospital equipment, leather goods, livestock wholesaling, and sports item businesses do well.
Textile is one of the most profitable distributorship domains in a country like India. The most popular items are fabric, yarn, threads, textile chemicals, furnishings, home decor, clothing, etc. This industry will never see a pause in demand or development over time, and hence, remain profitable.
Most franchises fail because of reasons like:
The best FMCG products for distributorship in India are bakery items like cakes and desserts, processed food items like pickles, curries, sweets, and fried items, and soft drinks. Other items include baking powder, chips, bread, cheese, paneer or cottage cheese, chocolate, pastes, honey, and packaged drinks.
Yes, there are government schemes that help small-scale wholesale businesses take the initial step. Some of them are:
Without supply chain and proper supply chain management, a wholesale business can collapse. It is the entire process of controlling forward and backward movement of resources and finances. This also involves reducing costs, organizing the inventory, managing the warehouse, and minimizing error in transport.
When you work with a franchise for distributorship, you might have to pay a certain fee on a regular basis. This can be collected monthly, quarterly, or annually, according to the terms and conditions of the franchise agreement.
Franchise entry fee stands for the one-time transaction fee that you have to pay to the major brand under which you wish to carry out your distributorship business operations. This can be according to your geographical area, the brand, your products, etc.
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