Planning to start-up your own business?
What can be the better option to do so than doing it in Kerala, the sole 'Start-up Ecosystem’?
In this post, we're are going to share with you the 14 most profitable and lucrative business ideas and opportunities in Kochi right now.
Kochi being the financial and corporate capital of Kerala is a highly developed cyber city. It consists of the most advanced residential, business, health, education and lifestyle infrastructure and amenities. Kerala has huge business potential, and Kochi is the financial capital of it.
Considering several parameters including land costs, power and communication infrastructure Kochi has been ranked as ‘The Second Best leading ITES destinations’ according to the recent NASSCOM survey and was above metros like Bangalore, Mumbai and New Delhi.
Now you must be thinking about ‘why choose Kochi for a start-up business?’ You must be wondering about the financial expenses as well.
Now to decode such questions let me put down the extraordinary facilities that make KOCHI ‘the go-to place’ for any person who is planning up to start their own business or expanding their existing business.
• The Government of Kerala has a state policy called ‘Kerala Start-Up Mission’ (KSUM) which makes it an investor-friendly state in India.
• Due to the ascend in population and employment in the area, Kochi is now classified as the TIER 2 city by the Government of India and this gives wings to entrepreneurs, IT and ITES to spread the best they can.
• 100% literacy and 100% digital rate which ensures the supply of skilled and educated workforce leaving behind most of the Indian states in terms of industrial development.
• Start-up costs are substantially low in Kochi as the rentals, power, water, transport along salaries are also very low thus keeping the operating cost lower as compared to other locations.
• Kerala permits up to 100% foreign ownership, subject to certain conditions, which makes small, medium and large scale business initiatives thoroughly streamlined.
• Kochi attracts good investment opportunities due to its better standard of living since all housing, shopping, schooling, medical, food, and banking facilities are available in the vicinity.
• A technically equipped city with all the modern-day itinerary.
• A vivid culture that is suitable for expanding various business options such as crafts, handlooms, etc.
• Lots of option to expand and flourish.
• Many rentable options in infrastructure
Thus, the city is 100 percent investor-friendly and the low operating costs are a crucial contributing factor to that. Kochi is famous for many things such as jewellery, tourism, Ayurveda, rubber, coffee, spices, and banana products. These could give enough scope to an individual or millennial to set up a business in this city.
Also, combining all these factors mentioned above, starting a business in Kochi (Cochin) can be highly profitable.
Here is the list of some of the most lucrative business ideas to start in Kochi :
1. Property Management Services/ Estate Agency
Proving rent and finding suitable tenants for rent, preparing and marketing the property for sale can be a new line of work in Kochi. A place to offer so much sees a high demand for space to rent or buy. Being an agent and managing properties can be a lucrative business idea for cities.
2. Jewellery Business
Jewellery making is one of the oldest industries in India and Kochi is pioneered amongst them. It’s a well known fact that Kerala is the home to traditional and elegant jewellery designs in the whole country. There is also a place known as “Jewel Junction” in Kochi where you can find some of the most top jewellers in the country. Thus, starting a jewellery business in Kochi is a profitable decision with an amalgamation of art and benefactors in one place.
3. Accounting Services
There is a great scope for young Accountants to start an accounting business in Kochi. As new businesses flourishes, a big or small, requirement for accounting services will exist alongside. Since most of the small to medium sized companies prefer to outsource most of their accounting work, budding accounts professionals can see this as a great opportunity to capitalize on.
4. Online Home Tuition
Since the Covid pandemic the demand for Online Home Tutions has increased exponentially. Online tuitions are now a really strong and growing industry with a wide range of business opportunities for everyone from a college student who loves teaching to people with experience in teaching.
You can take up online tuition services for smaller grades or start tutoring for professional and other skill development courses like SAP, Tally, Digital marketing, etc and scale your business to the next level. A state with such a high literacy rate surely is a place to accommodate such ideas and for a business to thrive in.
5. Home Decor Services
People who love to make home decors have a huge opportunity in Kochi to start your own home decor store online. You can make and sell your home decor products online like wall arts, frames, designer candles and vases, paintings, kitchen dining and a range of other accessories. This is a huge business opportunity for people who have the talent to design and create something beautiful which will make our home look more beautiful and elegant.
6. A Gallery-café Or Restaurant
Since Kochi is a place with rich history and culture what is the best way to put both together with other than its food. Surely it is a tourist hotspot. So, with the help of Ecotourism and biodiversity, setting up a café or a food joint near the Malabar Coast could be a great business idea that one can afford and reap great profits.
7. Tourism And Hotel Business
The tourism industry in Kochi offers immense scope for the future. This industry provides 13% of the state’s GDP. Other than the picturesque attraction, all of the historic quarter’s key attractions has a key role to play in.
There are several heritage houses and forts that have been turned into hotels and are running successfully, attracting tourists from all parts of the world to Kochi. Thus clearly investing in the tourism business here is a very clever move that can bring in huge profits down the line.
8. Franchise Business
The city is considered as one of the prime locations to start a franchise business ranging from food to education to healthcare to travel and many more, thereby it increases the demand for distributorship and dealership opportunities in Kochi, some of which are:
• Restaurant Franchise
• Bakery Franchise
• Laundry Franchise
• Clothing Franchise
9. Rubber Business
On a national scale 92% of rubber plantation has been done in Kerala where Kochi is exporting raw material to other countries. So it will be a great move for an entrepreneur to invest in.
10. Lemongrass Oil
100% of lemongrass oil is produced from the Kerala which scales a huge business opportunity for businessmen to invest in this market.
11. Biotechnology and Medicine
Biodiversity makes Kochi one of the most prospective locations for Biotechnology which opens a way for Medicine and pharmaceutical companies a huge scope. In addition to that, the presence of established research institutes like Rajiv Gandhi Institute for Biotechnology, Indian Institute for Spices Research, Kerala Agricultural University etc. ensure trained human resources required.
There is a huge scope to Export crops, Spices and Bamboo Crafts. 70% of coconut is being cultivated in Kerala. Banana wafers is a new trending business for upcoming years. Paper is hugely produced from Bamboos, so another option for business people to grow with it.
13. Packaged Food
Kochi is known for its fisheries. Packaged food is the most trending business in Kochi over the years. Frozen, packaged fish and dry fish are now coming up with shipping to other states in India. So seafood exporting is another business opportunity you can look at.
Startup costs are the expenses you’ve to bear while starting a new business venture. Some of the startup costs include costs incurred for a business plan, research expenses, borrowing costs, and expenses for advertising. Check out the infographics below to know more:
In case you're planning to start a business in Kochi, you would probably need an office space to rent. Since the office space, you occupy, throws a strong impression on the potential or existing clients who visit you, locating your company in a professional and inviting work environment that suits your needs is a big challenge.
So to build your business activities and services to the next level, Trans Asia Cyber Park now provides commercial office space for corporates and professionals at the prime location of Kochi. Our specific services include furnished office spaces, shared office spaces and unfurnished office spaces.
Therefore, it frees up your time, and you can focus on growing your business while we take care of the rest.
Contact us and let us know your office space requirements and we can work out a plan to get you started on your way to success and growth.