There could be many entrepreneurs hidden among us. But, due to the doubt about starting a startup in India, many of us dropped the idea! Let’s take a look at the most profitable startups in India in this blog.
A startup refers to a business that is just getting started. Startups are created by one or more business owners who desire to provide a product or service they feel there is a market for. These businesses typically have large startup expenses and little income, which is why they seek funding from several sources, including venture capitalists. Hence, it could be a daunting task to start a startup. But, anything is possible when you have a vision and focus! Many successful startup stories will motivate you to go forward with your journey. Let’s take a look at the most profitable startups in India in 2024.
Most Profitable 5 Startups In India
MBA Chai Wala
Starting a business is way easier than the clearing CAT exam!
Praful, the founder of MBA Chai Wala was once an MBA student, who dropped out of college to follow the footsteps of entrepreneurs and joined McDonald’s. He worked for almost two months before starting his own business – ‘a tea shop’. The young mind of Praful understood the reason behind every cup of chai. He brought people together with poetry and singing sessions. Apart from giving free teas for singles on Valentine’s Day, he also spends time raising funds for underprivileged children.
MBA Chai Wala has a country-wide franchise.
Groww 2016
Four former workers of Flipkart, Lalit Keshre, Harsh Jain, Ishan Bansal, and Neeraj Singh, left their positions in 2016 to launch a business that aims to simplify investing. It began operations under the name Groww in 2017.
Investment and understanding about investments is not everyone’s cup of tea. Groww, a DIY investment platform is available online as a website and also as an app on iOS and Android. It has 20 million registered users and most of them are under their 40s.
It provides various mutual fund investment options as well as a chance to invest in equity. It provides a free account with no maintenance fee. It is one of the easiest platforms for investment.
Cred 2018
Kunal Shah is the founder of Cred, a fintech company headquartered in Bengaluru. Shah’s motivation lies behind the need to incentivize that one citizen who always pays back on time, and thus came Cred. Cred allows its users to pay their credit card bills through their app and receive instant exclusive rewards. Shah maintains that Cred is a trusted tech company. He believes that a good economy can only be built on trust, similar to the foundational principles of Pvt company registration.
Upgrade 2015
Upgrade, started by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh, is an online-based education company that provides knowledge in the area of technology, management, and data.
Upgrade has taken the idea of online education being the future to the next level by providing excellent content through its collaboration with top-notch universities.
Through its one-on-one mentoring, peer-to-peer review, and ever-required career counseling, Upgrade has managed to provide holistic assistance to the young generation.
Zepto 2021
The grocery delivery app is not a new idea and there are already multiple apps available in the market from Swiggy Instamart, Grofer, Big Basket, and Gorillas. Despite the competition, Zepto has managed to make the market run for its money with its amazing 10-15mins delivery promise.
Kaivalya Vohra and Aadit Palicha started Zepto. Kaivalya is also an entrepreneur who is the youngest and richest Indian who also started a startup based in Mumbai and has 2500+ products on its platform.
Pros and Cons of Startups in India
Here we have provided a table with a list of the pros and cons of startups in india. You can go through them for a better understanding:
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Understanding these pros and cons can help you make informed decisions about starting a new business and navigating the company formation in India. Nothing is a bed of roses! Everything comes with a price and starting a business, raising capital, and working for your vision requires a lot of confidence and knowledge!
Conclusion
After deciding on your business, you need to know the legal procedures to initiate startups in India. You do not have to worry about it as Vakilsearch has it all sorted! From collecting funds, guiding you through the process, and arranging all legal documents, our legal experts will assist you. For your startup dream to be fulfilled, we at Vakilsearch offer the best services from Online fundraising which will reduce half of the hassles in the process! Talk to our experts to clear any of your queries. Make your startup journey seamless with Vakilsearch because we help startups flourish at their best!
