Lucknow is an ideal place to start a business for many reasons. As a leading tier 2 city, Lucknow’s proximity to New Delhi makes it a strategic business location. Further, Lucknow is well connected to major cities like Mumbai, Kolkata, and Bengaluru by road, rail, and air. As the capital city of Uttar Pradesh, India’s most populous state, Lucknow is home to a variety of businesses in many industries, such as tourism, education, aerospace, finance, and many more. Lucknow is also seeing a recent boom in startups due to government initiatives and infrastructure development. In this article, we will take a look at some of the most profitable business ideas in Lucknow.
10 Best Business Ideas in Lucknow
Given the strategic location, excellent connectivity, and entrepreneurial mindset, below are some best business ideas in Lucknow:
- Textiles:
Known as the ‘City of Nawabs’, Lucknow has a vibrant textile industry. Lucknow is home to chikankari and zardosi embroideries which are gaining global popularity. Handlooms, wholesale or retail fabric trade, export of textile products, and even an online platform can be great business opportunities in Lucknow.
The textile industry in Lucknow is fuelled by the availability of skilled craftspeople, government initiatives and subsidies to Small and Medium Enterprises (SMEs), proximity to sources of raw material, an already established market, and global demand for Indian traditional wear. This makes textiles one of the best business ideas in Lucknow.
- Handicrafts:
Handicrafts is also a high-demand business idea in Lucknow showcasing the city’s artistic side. Handicraft businesses can include products like chikankari embroidery, wood and bone carving, terracotta products, jewellery designs, and artisanal candles.
Designed and created by skilled artisans, these handicrafts have been passed down for generations. Unlike mass-produced items, these handicrafts use traditional techniques and generally superior materials. Businesses operating in this sector can collaborate with artisans, help ideate and develop new products and designs, and promote online sales as well as handicraft shops.
- Tourism:
Tourism is another booming industry in Lucknow, driven by the city’s cultural heritage and historical significance.
Business opportunities here include heritage walks, guided tours, cultural events, food tourism, luxury hotels and resorts, and day trips around the city of Lucknow. A travel agency covering these aspects can be a successful business venture in Lucknow.
- Food Truck:
Lucknowi cuisine offers a mouth-watering array of food, and diverse cuisines from traditional to modern fusion. Food trucks are popular for street food like kebabs and chaat, fusions like Lucknowi tacos and kebab burgers, and speciality food such as vegan, organic, or gluten-free options.
The city has a culture that appreciates eating out, and food trucks offer advantages such as lower starting costs, flexibility in terms of location and menus, and opportunities to participate in events and festivals. Locations such as universities, offices, or busy marketplaces could bring considerable revenue, making food trucks one of the best business ideas in Lucknow
- Real Estate:
As a tier 2 city, Lucknow has a booming real estate market, fuelled by the growing population and government initiatives.
Real estate growth in Lucknow is accelerated by factors such as infrastructure development like metro, roads, and highways, government policies like smart city mission and industrial corridors, increased demand for housing and commercial spaces, and growth in education and IT sectors. A real estate business can be a highly profitable Luckow business idea.
- Agri tourism:
Agri tourism is still one of the newer business ideas in Lucknow. Businesses can offer a blend of rural and agricultural activities, where visitors can explore villages and rural landscapes, participate in agricultural activities like planting and harvesting, learn about traditional agricultural practices, and enjoy farm-to-table cuisine as they relax in farmhouses or homesteads. Agri tourism also benefits local farmers by providing additional sources of income, promoting sustainable agricultural practices, preserving traditional farming methods, and showcasing rural heritage.
Agri tourism has a lot of growth potential. Entrepreneurs can develop farm stays, create agricultural experiences, and tap into the rich potential in the field, making it a unique business opportunity in Lucknow.
- Home decor and furniture:
A home decor and furniture business in Lucknow can blend traditional craftsmanship with modern styles, benefitting both businesses and customers seeking elegant home decor. Businesses can provide traditional Mughal-inspired furniture and decor, handcrafted wooden furniture and upholstery, ceramics, and textiles with intricate designs and contemporary designs. Entrepreneurs can do this by opening home decor and furniture shops, offering customised design services, creating online platforms for sales, and collaborating with local craftspeople.
- Event management:
Lucknow can be a popular choice for events due to its rich cultural heritage and proximity to other popular venues. There are many opportunities for event management companies such as wedding planning and management, conferences, corporate retreats and business events, cultural festivals and fairs, parties, and social events.
Event management is a Lucknow business idea with a lot of potential for experts with a creative mindset.
- Health and wellness centres:
This is among the most profitable businesses in Lucknow. Businesses can offer a holistic approach to physical and mental well-being by catering to the city’s health-conscious population. Services can include yoga and meditation classes, fitness training and gym equipment, spa therapies, nutrition and diet counselling, and alternative therapies. Additionally, hiring experienced professionals can help the business tap into providing personalised health and wellness plans, conducting health workshops and seminars, offering memberships and package deals, and partnering with healthcare providers for referrals to grow the client base.
- Educational institutions and coaching centres:
Entrepreneurs can tap into Lucknow’s large student population to cater to a growing demand for quality education. They can do this by identifying in-demand courses, like NEET, JEE, UPSC, etc., hiring experienced faculty, using technology to provide online classes, and building a reputation through referrals.
Business Loan in Lucknow
Many financial institutions and online lenders offer business loans in Lucknow with flexible repayment terms and interest rates. Such loans are suitable for startups, SMEs, and established businesses. The funds can be used for multiple purposes such as expansion, managing working capital, or equipment purchases. If you have a business idea in Lucknow, these loans can help you gain a foothold in Lucknow’s business environment.
Conclusion
Lucknow is a rapidly evolving economy with many opportunities for businesses. Historically centred around the public sector, the city is now expanding into diverse fields such as IT, manufacturing, processing, and biotechnology. The growth of the education sector is also contributing to an increasingly skilled workforce.
There are plenty of business ideas in Lucknow you can explore, depending on your expertise, interest, and market research. Please note, to qualify for SMFG India Credit, your business should have been running for at least 3 years, with a record of stable income and profits for the last 2 years.
Looking for financial support to grow your business? SMFG India Credit offers customised business loans for a variety of needs from working capital to equipment purchase and expansion efforts. Eligible candidates can enjoy minimal and competitive interest rates. Apply online today or visit your nearest branch for more information.
* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us