A wide range of food business ideas exists in the current scenario. The food business in India has been one of the biggest business markets in India for the last few years. The market size of the food business in the year 2024 is estimated to be 77.54 billion US dollars. Any business that is involved with selling or making food is known as a food business in simple words. A business that stores the food, cooks and sells the food, handles, distributes or prepares the food can be considered a food business. The food business can be solely for a commercial purpose, which means for profit, or it can also be a non-profit organization. The Indian food business is booming.
In this blog, we will explore 20 food business ideas in India that are good options for food entrepreneurs.
Steps for Starting a Food Business
There are some common steps that are to be considered before starting a food business. One of the initial steps is to start with a business plan. After making the business plan, start preparing a financial plan for the business. It is also essential to study the market as well as the consumer base before starting the business. If the business requires a separate location, start by finding a cost-effective option. If the food business needs a team of people, the hiring process can be the next step after the business location has been finalized. It is essential to get the food business registered as well, along with all the required licenses and permits that are needed to be in compliance with the regulations laid on the central as well as state level by the food authorities for rules of food and safety laws in India.
Advantages of Starting a Food Business in India
Starting a food business in India is cool these days, considering the movement of a significant population of youth outside the house who are searching to satisfy their taste buds. Some of the key advantages of food business in India are:
1. High in Demand
The food business is always in demand. Food is a basic necessity for humans all around the world. The Indian food business market is currently thriving. There are many food business ideas that can work wonders for Indian food entrepreneurs.
2. Flexibility
One of the other benefits of starting a food business is the high amount of flexibility that it provides. With the utilization of food business ideas, entrepreneurs can have great flexibility. Individuals can opt for a food business on a smaller scale or a much larger scale. The food business can be a home-based business or a food blog. There are many different food business ideas that entrepreneurs can take up to earn profits.
3. Diverse Opportunities
There are many food business ideas that come as a diverse opportunity for food business enthusiasts. Many food business ideas are already in place in various forms. The food business ideas consist of businesses ranging from large-scale food services for catering to small home-based businesses.
4. Large Customer Base
In the current digital era, the food business is no longer limited to people physically visiting places. People nowadays can order food at their doorsteps; hence, the customer base for thriving food businesses is quite vast. People can see the food business virtually from any area of the city, which is also very beneficial for the food businesses themselves.
5. Less Investment
Food business ideas in India are one of the business structures that require little investment. Many ideas, such as food trucks or home-based food businesses, require quite a little startup investment.
Also read: 5 Trending Ideas to Start a Food Business with Low Investment
20 Food Business Ideas for 2024
In recent times, food businesses have grabbed the eyeballs. Business enthusiasts are putting their feet in the sphere of the food business. The top 20 food business ideas that can be started in India and can prove to be profitable in 2024 are:
1. Meal Kit Food Business
The meal kit business idea is one of the low-investment business ideas at the current time. It is one of the in-demand food business ideas. This food business consists of preparing a meal kit with food cooked at home. This business works on the subscription process. People who do not have time to cook their food prefer readymade meal kits.
2.Catering Services
One of the most profitable food business ideas that has seen continuous and steady growth is the catering services business. This business offers catering services for different occasions. Amongst the other food business ideas, this business idea is very cost-effective and also provides employment to others. Many already established food businesses often start catering services.
3. Food Truck
Starting a food truck is a very cost-efficient and mobile food business option. The food truck business has gained significant popularity in the last 4-5 years. Food trucks can serve one specific type of food or sell a variety of items. The cost of a food truck is comparatively lower than other food business ideas.
4. Juice/Healthy Drinks Business
Nowadays, people are very health conscious and are often attracted to healthy juices and drinks on a regular basis. Starting a juice/healthy drink food business can be a profitable option, especially in metro and big cities. These healthy juices and drinks are very in demand goods. Hence, these kinds of food business ideas can be beneficial for entrepreneurs.
5.Personal Chef
One of the following innovative food business ideas is being a personal chef. A personal chef is a person who visits clients at their specified places and cooks for them on the spot. Personal chefs make visits for small and medium-sized events. This type of food business concept is becoming very popular in India. This food business idea provides a large customer base with flexibility.
6. Cloud Kitchen
A cloud kitchen is also known as a virtual kitchen. With no eating-in clients, a cloud kitchen uses a commercial kitchen to prepare meals only for takeaway or deliveries. With cloud kitchens, restaurateurs can begin an internet-based brand or grow an already-existing restaurant for a relatively small investment.
7. Bakery
The following business on the list of food business ideas is a bakery. A bakery can be opened on a small or large scale. Many young students are seen starting their own baking business from their homes and making good money. Starting a baking business requires only a one-time investment in baking utensils. Baked items are very much in demand for various types of events.
8. Organic Food Business
In recent years, there has been a notable increase in the growing acceptance of organic food as people have realized how important it is to eat sustainably and healthily. One successful food business idea is to start an organic agricultural company or produce organic food items. One can cultivate healthy vegetables, fruit, or breakfast cereal and distribute them directly to customers or via the Internet and regional marketplaces. Additionally, it encourages innovation regarding environmentally friendly agriculture, which eventually helps to improve the environment and expand the market for organic farming.
9. Cooking Classes
One can also start a virtual cooking class business from home. People at present rely on online sites for food recipes. One can start an online cooking class and upload videos of different kinds. You can further increase this business by writing blogs and books on various food recipes as well.
10. Spice Business
India has been famous for its spices for decades. New entrepreneurs looking for food business ideas can start a spice business. Indian spices are in demand in other countries as well, so the business can also be expanded globally in the future. These businesses have stable and ongoing growth in the food market. All types of food-related businesses will need spices to make their food.
11. Food Franchise Business
When individuals want to start an established food business, they can consider starting a food franchise. A food franchise is much easier to set up than starting a new business. These kinds of food business ideas are green in nature, which means they have a long running time, as they are already famous and have been working for a few years.
12. Pizza Business
Pizza is one of the most consumed fast food; setting up a pizza place is one of the most profitable food business ideas. The business alone can be converted into many different business structures later. The pizza food business can be run through homes and cloud kitchens and can also be started as a franchise business.
13. Pickle and Papad Business
The pickle and papad business is one of the best alternative food businesses for homemakers in India. Pickles and papad are a daily staple food eaten in the Asian household. A company can be started by making and distributing different types of papad and pickles.
14. Coffee Shop Business
A coffee business is a type of establishment that sells baked goods, meals, and salads in addition to coffee and various other drinks. Coffee houses are common venues where people congregate to chat, work, or just unwind. Due to their inexpensive startup and operating costs, coffee chains are included in the following set of food business ideas. In addition, the revenue they make is substantial, and the need for these establishments is rising throughout a wide range of regions.
15. Sweet and Candy Business
Indians enjoy candies and sweets a lot. For major celebrations like the Diwali festival, the Raksha Bandhan, Dussehra, etc., people tend to indulge in sweets. All year long, there is an enormous market for sweets, especially around the holidays. Especially at most marriage ceremonies, relatives and close acquaintances are given a variety of delicacies. It adds a lot of appeal to the business. One will thrive in this industry if you uphold the highest standards of taste, craftsmanship, and efficiency. It is one of the best minimal investment food business ideas.
16.Commissary Food Kitchens
It is not easy for everyone to start a business from the start; hence, the concept of commissary food kitchens came into existence. People can rent kitchens to use, which can be commercial in nature. Food preparation takes place in these kitchens.
17. Sauce Business
The next innovative and profitable food business idea is the sauce-making business. All types of cuisines need various sauces in their food. A business that makes the common sauces used in the market will be profitable for everyone.
18. Jam Business
The food business idea on the list is a jam-making business. Similar to the pickle and papad business, the jam business is also an excellent option when starting a food-related business. This type of food business requires fewer resources, is cost-effective, and does not require investment on a high level.
19. Food Blogger Business
In the era of technology, starting a food blogging business can be one of the best options for food entrepreneurs. Food bloggers visit different food establishments, try the food there, review the food, and make people aware of the shops so they can visit the establishments according to their reviews and likes. Food blogging is quite an emerging type of food business ideas all around the world.
20. Ice Cream Shop
Opening an ice cream shop can be a long-term business that can also prove profitable. Ice cream is not a seasonal product, so its demand will be throughout the year. There is a great variety of ice cream that can be used when starting the business.
The Final Words
In conclusion, there are various food business ideas in India from which one can choose and start their own food business, which they think works best for them. Before starting a food business, there are many compliance requirements like FSSAI license registration, company Registration, etc., that are to be done in order to establish a business that is entirely in compliance with all the rules and regulations, and the customers can trust the food business.
Corpbiz provides expert guidance and assistance on how to start a food business, along with providing expert guidance for all the required compliance.
Interesting Read: A Viable Approach to Set-up Food Manufacturing Business in India
Frequently Asked Questions
- 1. Is the food business profitable?
Yes, a food business can be profitable when it starts after thorough research of the market and the customer base. The business should also follow both pre and post-compliance.
- 2. Can I start a food business from home?
Yes, many food business ideas are discussed in this blog, and they can be started from home.
- 3. How much does it cost to start a food business?
The cost estimation of starting a food business can vary from city to city and will also depend on the type of food business that is supposed to be started.
- 4. Are food trucks easy to start?
Yes, starting a food truck business is comparatively easy than other food businesses. This type of food business idea provides mobility and flexibility and is also a low-investment business.
- 5. Does starting a food business need some licenses and permits?
Yes, starting any kind of business requires licenses and permits related to its type to function.
- 6. How to make a food business successful?
In order to make a food business profitable and successful, it is crucial to conduct research on the type of business that is to be started, the market condition, consumers of the food of that type, licenses, permits and registration should be completed.
