Local Details of the Region:
Population: 20.4 Lakhs
Total GDP: $43.5 Billion (Approx)
Business Ideas:
- Thermal Power business: Visakhapatnam is quite famous for its thermal plants. If you have the resources to go big, you can establish your own thermal plant and supply energy to other companies. Else, you can invest in already established plant and retail energy on behalf of them to earn commission.
- Pharmaceutical retailing: The business portfolio includes retailing medical equipment, medicines, legal drugs and medical machinery for hospitals and other pharmaceutical companies.
- Multipurpose consultancy: The business is known to provide top services in the following categories: Digital Signature Services, Import Export Consultants, Subsidy Consultants, Import Export Code Number Consultants, Dgft Digital Signature Services, Import Export License Consultants, Vca Scheme Consultants, Nabard Subsidy Consultanty and etc.
- Taxi services: If you have a car and the skill to drive, you can start your own taxi service. This business has a great scope as working class of people usually prefers taking public transport to avoid traffic and driving.
- Stocking brokering business: It accounts for buying, selling, reselling stocks and earning from the commission. It is one of the leading businesses in Visakhapatnam owing to unlimited growth rate and profits.
- Training and placement consultancy: If you have good communication skills, expertise and outreach, you can convert your passion into your job. You can work as a trainer, and replacement recruiter for multinational companies.
7. Data entry and analysis: This business is the best business for people who have accounting expertise. You can establish your own firm for monitoring, analyzing, and modifying data for other companies.
- LED Manufacturing: You can start your business in manufacturing LED lights for industrial and domestic clients. You can also use innovative ideas for public welfare eg. Distinct technology to reduce power loss in street lamps.
- Real estate agency: If you have good connections, wide outreach and knowledge about the real estate, you can start your own real estate agency which will prove to be highly profitable in a city like Visakhapatnam.
- Multi-commodity processing: if you are willing to start a large-scale business, multi-commodity processing is definitely an excellent option. You can produce several products concurrently. Eg.Steel, Coke, Polymers, Casting & Quicklime.You can even invest in other sectors for expansion!
- Surveillance Device retailing: This business includes distributing CCTV and GPS devices to firms, households and other manufacturers.
- Chemical Distillery: The availability of manganese ore, aluminum and bauxite reserves make Visakhapatnam is great location to establish a business in chemical processing. The city is also a significant hub for Petrochemical investments.
- Digital Media Marketing: If you are good at reaching out to people, you can start your own business in digital marketing by providing complete digital marketing services – social media marketing, developing custom marketing campaigns, running social media accounts. As a bonus, you can also shoot Television commercials for your clients!
- Telecommunication Business: If you have the required resources, you start doing telecom tower construction for network companies: Airtel, Jio, Vodafone, BSNL etc.
- Jewelry outlet: You can start your own jewelry store selling a wide range of products including silver, platinum and gold jewelry. You can also sell personalized precious gifts, and customized diamond jewelry for bonus.
- Hotel and Resort Business: Visakhapatnam’s serene beaches, and pleasant atmosphere makes it the perfect place for a weekend holiday. Moreover, thousands of business executives travel to the city every day for work-related purposes. This business will be highly engaging and profitable!
- Clothing wholesale business: If you are passionate about working in apparel and clothing segment, you can start your wholesale or retailing business for garments. If you wish to go an extra mile, you can even start your own fashion brand.
- Event planning business: potential businessmen can start their independent business to provide matrimony services and expertise for planning birthday parties, organizational events and festive functions.
- Chemical cleaners processing: You can start your own business in manufacturing of domestic and industrial chemical cleaning solutions like glass cleaner, floor cleaner, bike shampoo, steel polish and multipurpose cleaners.
