Over the year, the size of the economy of Bangladesh has gotten more extensive, and people have become more prone to do business and investing. However, they often invest in the wrong place – without doing research – risking their valuable asset.
If you plan to do business in Bangladesh and search for a profitable business idea, this article is for you.
Here we have given the 10 most business ideas that are easy-to-go and profitable in the long run.
So let’s get started.
What is a Profitable Business in Bangladesh?
A profitable business has the capability of generating enough revenue and gross profit. That means the earnings of the business should be better than the cost of it. A company can be profitable when it has sustainable growth and a balanced profit margin.
Now, the question is, what type of business can be profitable in Bangladesh?
We’ve answered this question in the following.
10 Most Profitable Business in Bangladesh
The profitability of a business depends on different issues like the placement of the business, regular cash flow, and the company’s marketing strategy.
Let’s dig into the details:
Top 5 Profitable Business That Needs Less Investment
If budget is your primary concern and you want to start your business in a concise manner, go for one described in the following.
Tea or Coffee Shop
In Bangladesh, tea and coffee have become a part of our lifestyle, and people are more willing to buy coffee and tea regularly. On the other hand, you need very few amounts of investment for this kind of business.
Profit depends on sales. And there is a massive possibility of selling this kind of product. So, it is a very profitable idea to start with.
As people’s taste changes, the consumers of different types of gifts are rising for birthdays, marriage, and other social functions. A gift shop can be a possible option for you to invest in and expect a more significant profit margin.
On different types of special occasions and in regular use, the customers base of the flower shop is enormous. To start a new business with little investment, a flower shop can be a great idea in Bangladesh.
With the growing number of students, demand for books is also rising high. With proper shop placement and little marketing, your books store business can grow quickly as a profitable business in Bangladesh.
In the world of aestheticism, nowadays, women are more willing to take beauty services in Bangladesh. If you can provide quality service, there is an excellent chance that you can proliferate and be a profitable business owner.
Business of Larger Size and Requires Bigger Investment: Top 5
If you have an enormous amount of cash or want to start a business with a more considerable size, the following business ideas are for you.
The online business is growing in Bangladesh so does the possibility of it. And if you’re looking for a company with great potential in Bangladesh, ecommerce can be your first choice.
Just set your honest business goal, acquire customer satisfaction and hire the right group of technical people. Then you have a great chance of winning the market.
IT business or Internet Service Company
Internet service consumers are multiplying, and people are always in need of the help of internet services. Eventually, as an investor, it will be an ideal choice for starting an IT service-providing firm.
Keep in mind that,
- You have proper IT knowledge and experience, and expertise
- You have extensive research about the competitive market
- You are capable of maintaining adequate cash flow
You can open a restaurant with proper arrangements to serve people directly and have the vision and hunger for growth and profit.
The global demand for Bangladeshi apparel is rising. And the local market of the garments product has also increased. So, get your investment in the potential sector. In a short time, it can be a profitable one.
Things to consider before starting a business in Bangladesh
- Arrange enough money to maintain the regular cash flow in the business
- Be sure that you have a trade license if your business is a bigger one
- Your expertise and experience, and vision on the relevant field of business
- Hire the right group of people
Become an Agent
The idea of agent business is not new in Bangladesh. But many an occasion, people fail to get success in this kind of business model.
For increasing your success rate, display the right product and choose the right place for your shop. Maintain a cost-effective marketing policy and hire a high-performance sales team. Hope you are about to get success.
The investment model has changed, and it will be great for you to know the most profitable business in Bangladesh. As the profitability of the company depends on different issues.
You should choose the right place for your desired business, the right employee, and proper cash flow maintenance to ensure a profitable business in Bangladesh. In this regard, we hope the ideas mentioned above can help you.
Do you have any other ideas? Let us know.