Business Idea: What Business Can You Start with 1 Lakh Taka?

What kind of business can be started with 1 lakh taka?

Firstly, the question actually contains two separate inquiries! what kind of business can be done? refers to exploring various business ideas. The answer to this is broad and requires discussion. On the other hand, is it possible to start a business? is asking whether starting a business is feasible at all. The answer to that is simple—Yes, absolutely, it is possible to start a business! 

Especially if the capital is 100,000 Taka, the focus naturally shifts toward simple, profitable, and low-risk businesses. Nowadays, thanks to technology, finding online business ideas or small-scale business ideas from home has become very easy. However, before starting, proper planning, accurate accounting, and market analysis are essential. So, let’s dive into our main discussion today to find answers to these two questions. 

Why should you start a business?

People usually decide to start a business as a means of livelihood. Some want to change their career, while others seek an additional source of income. A business offers the opportunity to work independently and break free from the dependency on a job.

Why to do business-

• Increase of income:Business provides a way out of a life with limited income.
• Freedom of work: You can manage your time according to your own preferences.
• Alternate of job: The unemployment problem is increasing in the country, so business is a good alternative.
• Creative self-expression: There is more opportunity to do something new in business. The joy of creating something new by utilizing your creativity and positive thinking is unmatched anywhere else.

Above all, business is not just about capital, investment, and profit or loss. Business means new ideas, hard work, and the right combination of planning.

Small investment or large investment business?

Should I start a business with a small investment or wait to invest a larger amount? This is a very valid question! 

The reality is, with a larger investment, you also take on greater risks. However, small business ideas are much more popular in a place like Bangladesh because— 

• Easy to start.
• Lesser risk, Higher profit.
• It is possible to gradually increase.
• Opportunity to gain experience quickly.

These days, many successful entrepreneurs are starting their journey with just 50,000 or 1 lakh taka. There are many such examples around. So, if you're wondering what business can be done with 1 lakh taka, the answer is definitely yes! And it can be started very well.

What business can be done with 1 lakh taka?

Now let's see what businesses you can start with this amount of capital in Bangladesh. Below is a list of some popular and profitable online and offline businesses that you can easily start-

1. Facebook/Instagram Marketplace Business

• Product: Fashion products (sarees, t-shirts), home decor (decoration items), electronics (mobile accessories), etc.

Investment:

• Purchasing Product:50,000 - 70,000 Taka
• Photoshoot & Marketing: 20,000 - 30,000 Taka

Benefit:

• You can easily start as an online business idea from home.
• Low risk, quick customer reviews are received. Once you gain customer trust, customers themselves will help increase your customer base.

Tips:

• Start without stock by using the drop shipping model.
• Maintain good relationships with customers.

Here are some business ideas. You can choose these or others based on your area, skills, and preferences.

1.1. Print-on-Demand / Customized Gift Items Business

Print-on-Demand is a very popular online business idea that can be done from home. You can create your own designs or print on items like t-shirts, mugs, bags, etc., according to customer preferences and sell them.

• Required Capital: 50,000-80,000 Taka.
• What you'll need: Printer (can also be rented), raw materials, online shop.
• Profit margin: Approximately 30-50%.

Business platform: Facebook, Instagram, Daraz.

1.2. Mobile Accessories or Parts Business

As a small business idea, this is becoming very popular quickly. You can start small and scale this business into something much larger.

• What products will you sell: chargers, covers, headphones, tripods, power banks.
• Where to source: Wholesale markets in Dhaka, import from China.
• Profit margin: Around 40-60%.
• Required capital: 1 lakh +

Business platform: In front of the house, a small shop or cart near the market or corner, Daraz.

1.3. E-commerce / Selling clothes through Facebook page

By opening a business page on Facebook, you can start selling both local and international clothing. With 1 lakh Taka, you can purchase wholesale items and start selling. Alternatively, you can also start without stocking by using the drop shipping method.

1.4. Boutique or Handcrafts Business

If you enjoy crafting, you can sell your handmade boutique products or handcrafts online.

• Required Capital: 50,000-1,00,000 Taka.
• Types of products: Three-piece, gift items, showpieces.
• Platform: Shopify, Daraz Seller Account

2. Home Cafe or Homemade Food Business

Home kitchen is now a very trendy online business idea. Selling live food has now emerged as a new industry.

• Required capital: 30,000 – 80,000 BDT
• Customers: Working individuals, bachelor employees, students, families, food enthusiasts
• Delivery: Food delivery partners (Foodpanda, Pathao)
• Profit Margin: With good quality food, consistent orders are likely; depending on the type of food, a profit margin of 30% to 50% is possible 

Popular Item: Cupcakes, homemade lunch boxes, special dishes such as biryani, kebabs, soups, and regionally famous items.

Benefit:

• The demand for food never decreases.
• You don't need a large space to get started.

Tips:

• Attract customers with unique and traditional rural recipes.
• Ensure a hygienic environment and quality ingredients to receive good reviews.

3. Creating Online Courses, Tutoring, or Skill Development Center

If you have any skills such as graphic design, video editing, coding, photography, music, sports, fitness, English, Bengali, or any other language proficiency, then you can create courses based on those skills. This has now become a globally recognized source of income. You can also start a skill development center at your home or a rented space, similar to private tutoring.

Benefit:

• There will always be a demand for specialized skills or skill development.
• Moreover, it is a universally recognized profession, and it also brings social respect.

4. Affiliate Marketing

It is similar to a reselling business. You can earn money through online reselling without creating or stocking your own products. In simple terms, it's about selling someone else's product and earning a commission. Affiliate marketing has become popular worldwide. 

Platform: Amazon, Daraz, ClickBank, etc.

Investment: 

• Website/Facebook page: 10,000-15,000 Taka
• Content: 20,000 Taka
• Ads (Facebook/Google): 20,000-30,000 Taka

Benefit:

• You don't have to stock any products yourself.
• The entire business operates online.
• It is easy to earn in foreign currency.

5. YouTube or Social Media Content Creation Business

If you can create videos and are creative, you can start this business idea with a good setup for 1 lakh taka.

• What you will need: Camera, lights, microphone, editing tools, etc.
• Cost: 1 lakh taka or less.
• Income: Earnings from Google AdSense, YouTube views, sponsorships, etc.
• Topics could be: Travel, Cooking, Various tutorial subjects, etc.

6. Small-scale agriculture or hydroponics business

For those who want to do something different, they can start small-scale vegetable farming or mushroom farming with 1 lakh taka. This business is becoming popular in both small and large cities. Some people start it just for the pleasure or to spend their free time, and later turn it into a business.

Remember, business is all about numbers!

Whether your business is small or large, without keeping track of your finances, you won't be able to understand profits or losses. Especially when you're looking for answers to the question of what business can be started with 1 lakh taka, it's crucial to understand the importance of keeping track of your accounts.

Why is accounting important?

• You can keep track of investment and income.
• It helps identify where expenses are higher.
• Keeping track of pending dues becomes much easier.
• There is no fear of losing business records.
• A lot of time is saved, which you can utilize to grow your business.
• The business cash flow remains under your control.
• Creating a budget and making decisions becomes easier.
• Can present proof in front of banks or future investors.

Solution: Use the 'HishabPati' app for bookkeeping.

With this bookkeeping app, you can easily track your daily sales, expenses, profits, and customer balances. It will make your business smart, transparent, and sustainable.

What business can be done? The answer to this question may vary for each individual. Depending on your skills, interests, and time, choose the right business for yourself. Patience and consistency are the greatest strengths when starting a business. Whatever the capital is, with proper planning and accounting, you will certainly succeed. Best of luck for your business!

Demo - View this & start your journey with HishabPati in three simple steps!

• Step 1: Sign up on HishabPati 

First, visit the HishabPati website and create an account for your business. Alternatively, download hisabpati app from google play store and register. Registration in HishabPati is quite easy & complete free.

• Step 2: Set up your company 

After signing up, first set up your business profile by providing the necessary information as the owner. Then, set up essential business aspects such as inventory, units, purchases and sales, outstanding balances, invoices, and transactions. After that, start updating daily transactions.

• Step 3: Enjoy the various features of HishabPati 

After starting to keep business accounts on HishabPati, make use of the necessary and unique features, such as invoicing, barcode scanning, units, and expense management, among others. 

Watch a demo video on YouTube in Bengali to understand the usage and features of HishabPati in detail. 

Digital ledger for income and expenses – HishabPati demo.

HishabPati's subscription fee starts at just 99 Taka!

HishabPati is Bangladesh's easiest and most affordable accounting app. Its subscription fee is divided into monthly and annual terms, with three budget-friendly packages available.

• 01. Basic Package: The Basic package is completely free! This means you can try out the app without purchasing a subscription.
• 02. Premium Package: The monthly subscription fee for the premium package is just BDT.99. And there's a 17% discount on annual subscriptions! It will cost only 999 taka in a year!
• 03. Business Package: The monthly subscription fee for the Business package is just 199 Taka. Like the Premium package, the annual subscription also comes with a 17% discount, making the yearly cost only 1990 Taka.

Know about all features of packages today in details & choose your desired package. Good luck with your business!