Top 7 Revenue Generating Business Ideas In 2024

1. Cupcake sale

It is anticipated that demand for the cake business would increase. The global cake market was estimated to be worth $42.9 billion (about INR 3 trillion) in 2019 and was predicted to increase at a 3.3% annual pace. Small specialty stores are anticipated to benefit the most from the revenues as an added bonus.

2. Sports Memorabilia

Right now, the market for sports memorabilia is worth $26.1 billion, or about 2 trillion Indian rupees. Its astonishing to think that by 2032, its valuation will have reached $227.2 billion (about INR 18 trillion), according to a Market Decipher analysis. This might translate into significant annual revenues for physical sports memorabilia stores.

3. Bridal Wear

With a 4.4% growth rate, the bridal market is predicted to be valued $79.8 billion (about INR 6 trillion) by 2027. According to BusinessWire, approximately 85% of brides still shop in physical locations, despite the fact that many retail products are now purchased online.

4. Consignment

According to reports from GlobalData and used clothing website thredUP, the value of the global secondhand industry is expected to more than double to $350 billion (about INR 29 trillion) by 2027. Furthermore, it is anticipated that the market for resale apparel will expand sixteen times quicker than the overall retail clothing sector.

5. Food Truck

By 2029, the Indian food truck market is projected to generate $277.28 million, or around INR 22 billion. BlueWeave Consulting projects a CAGR of 9.23% for the industry. For entrepreneurs who wish to enter the restaurant industry but lack the initial funding, this is a compelling alternative.

6. Bed and Breakfast

This could be an excellent starting project for you if you own a stunning, rustic, or historic house. According to a report by Mordor Intelligence, the B&B business is expected to develop at a compound annual growth rate (CAGR) of 4.73% and reach $31.01 billion, or almost INR 2 trillion, by 2029. Additionally, since owners typically reside on-site, you can reinvest the money you save on lodging back into your company.

7. Party Rental

According to a 2022 Research and Markets analysis, the party rental business is estimated to be around $5.9 billion (about INR 489 billion) and is growing by 4.3% yearly. Products for parties and other events, such as tables, tents, caterers, music systems, and stages, are rented by a party rental company. Regardless of the purpose—a high-end gala or a charity fundraiser—it can be a profitable enterprise with numerous applications.