India is on the verge of becoming the world’s most populated country with its population expanding-both in terms of size and income. This vast population provides an enormous customer base and tremendous opportunities to run and expand one’s business to every corner of India. With that Wholesaler’s business is getting into trends. Wholesalers becoming the middleman, play a very crucial role in this last-mile connectivity. Here, we have covered the top profitable wholesale Business Ideas to be started in 2022-2023 –
However, one needs to work hard and stay updated with recent trends to be successful. But, the foundation of this is choosing a profitable business idea. To figure out precisely what it is you want to do and then how to take action on it is a complicated process. It is a task that needs to be researched very meticulously. Here is a list of 15 wholesale business ideas to help you navigate your way.
Also Read: Top 10 Business Ideas After Lockdown
What is Wholesale Business?
There’s nothing like becoming a wholesaler because they are the people that help both the manufacturer and the retailer, thereby ensuring the smooth flow of goods in the economy.
Manufactures, instead of selling products directly to the end customers, use distribution channels for supplying their products to gain access to a wider geographical area. Retailers leverage the potential of wholesalers to get goods in the desired quantity and at the desired location.
Wholesale business in India is the most suitable and lucrative business option, for everyone and entrepreneurs, in general. This business demands less investment in comparison to the manufacturing business.
The right planning and proper inventory management is a prerequisite for this business, along with choosing the correct business line. Good connections with retailers and selecting a location with high demand promises handsome returns. Here in this article, there is a list of the best wholesale business ideas and opportunities currently trending.
Most Profitable Wholesale Business Ideas in India
Wholesale in Textile
Indian Textile market has the second largest capability of global textile needs, and it also contributes almost 3% to India’s GDP. It has various categories like garments trading, spinning mill, textile processing, uniform manufacturing, fabric suiting &shirting, etc. Staying updated with the latest trends and styles is very crucial in this business. With e-commerce gaining pace, one can also consider setting up an online store at a low cost.
There are more than 3000 plus pharma companies in India with a turnover of Rs. 2,89,998 crore for the year 2019-2020. India is ranked 3rd in pharmaceutical products all over the world and fulfills 50% supply demand of pharma from 10500 manufacturing units. Starting a medicine wholesale and pharma distributor is a smart move and one of the best profitable business ideas in 2022-23.
Netmeds offers the opportunity to wholesale pharma businesses or a distributor shop.
Wholesale Stationery business
The ever-expanding education sector and corporate sector have increased the demand for stationery products. Distribution of business stationery, school stationery, Art & Craft supplies, etc., is a very lucrative business. Secure connections with retailers who place bulk orders are a prerequisite to running a profitable empire.
Wholesale Jewellery business
Jewelry, ranging from Gold, Diamond, or funky fashion pieces, is not only an article of fashion but also a matter of pride and beauty for others. This business promises hefty returns not only literally but also aesthetically. Innovative designs and following the latest trends can help you fetch a better customer base and highly rewarding returns. You can also consider operating from home.
Kitchen Utensils Business
To live a healthy and balanced life, the food we eat is of utmost importance. Kitchen accessories help us cook and eat tasty and healthy eating. Used in hotels, restaurants, culinary institutes, and every household, kitchenware has a vast business opportunity. Utensils have various types, sizes, and material compositions; it is crucial to have a combination of all these items.
Wholesale Food Business
One of the most evergreen businesses, unaffected by the economic environment, is the Food business. Human existence and survival depend on food, which makes this segment highly lucrative. But the biggest challenge associated with this business is handling the perishable product and getting it into the hands of the consumer while it is still reasonably fresh. It needs extensive infrastructure but it also gives handsome returns.
Wholesale Plastic Products Business
Robust, lightweight, cost-effective, low maintenance, corrosion resistance, and foldable, plastics are used in thousands of products that add comfort, convenience, and safety to our everyday lives. These numerous benefits make plastics irreplaceable and dominant. Bought by every income-class group, plastic products never go out of trend and also promise high returns.
Electrical appliance business
With people getting busier than ever in their everyday lives, the demand for electrical appliances, which can help them do household work faster is in high order. Providing quality services and after-sales services will help attract and retain customers, which will, in turn, help you achieve high turnover. It is also necessary to keep in stock all the latest models to serve customers better.
Dealing in Ayurvedic/ Siddha/ Unani medicines
The no or minimal side effects quality of Ayurvedic medicines has not only multiplied their popularity among the masses but also increased business opportunities in this field. You can sell Ayurvedic medicines online or to retailers or can even consider exporting Ayurvedic products. You need not obtain a license for starting a wholesale business, but knowledge and experience in this field are always welcome.
Health care and beauty products
With an increasing demand for various local, as well as international brands, among men and women,, this industry provides very promising returns. As Indians get more and more health-conscious, this business is sure to flourish. You could either deal in various brands distributorship or could also consider investing in a franchise business of a well-established brand. You can also consider working from home and leveraging the internet for your sales.
Automobile parts wholesale business
Specialists expect India to emerge as the third-largest passenger vehicle market in the entire world by 2021. Not only the increase in new car sales but also consumers’ increased awareness of vehicle maintenance and rise in disposable income in the hands of the public proves that there is plenty of opportunity for growth in this industry. Hence the sale of auto accessories and spare parts in bulk can prove to be a very profitable business.
Building and construction material wholesale business
A lot of construction work happens throughout the year, and hence building and construction businesses are believed to be a recession-proof industry. A good infrastructure is necessary not only for safe living but also for overall economic development. This further alleviates the demand for good-quality building and construction materials. The most exciting aspect of this industry is that most of the need for cement, bricks, tiles, etc. are fulfilled by wholesalers and not retailers.
Leather & Leather products wholesale business
Leather products have huge demand both nationally and internationally. Leather is used for domestic purposes as well as for industrial purposes too. Leather products are also considered very fashionable and cater to various needs such as handbags, belts, wallets, shoes, gloves, etc. Corporate leather gifts are also trending these days. Used mostly by the premium consumer segment, this business never fails to give high returns.
Mineral water wholesale business
Whether for residential or commercial use such as restaurants and cafes, office buildings, and complexes, freshwater is a vital part of good health and overall survival. This business has heavily localized demand. You can consider investing in a franchise of a well-established and trusted brand. The opportunities and returns in this industry are immense.
Sporting goods wholesale business
A sporting goods wholesale business owner deals in varied categories of equipment. These types of equipment range from bats and balls, sticks, gloves, clubs, rackets, protective gear, and outdoor supplies, including some other items related to indoor sports. As sporting fever is at an all-time high, this business is sure to succeed. The highlighting feature of this business is that it is suitable for all age groups and provides a high margin.
FMCG products wholesale business
Fast Moving Consumer Goods or FMCGs have a secure and unbeatable position in the global economy. FMCG caters to almost all essential goods for survival ranging from food, beverages, toiletries, and cosmetics to alcohol, and tobacco. Since life is so dependent on these items, the demand and business in this industry never end. They are sold at low prices, and at rapid speed, so proper inventory maintenance is essential here. Top companies in this sector always look for wholesalers to ensure their product reaches maximum people.
Everyone desires to be successful in life, and there’s nothing parallel to starting your own business venture. The road is not going to be smooth always, there will be many bumps, but turning every threat into opportunity is a sign of a real businessman.
The businesses mentioned above provide a bunch of ideas that are trending, but the list is not exhaustive. A plethora of opportunities are still available; you can choose your revolutionary plan and earn money. Along with cash, you need to consider your prior knowledge and experience in the industry, financial resources available, the economic situation in the country, your target consumer base, existing competitors in the industry, talented staff, leveraging technology, and an ideal location.
A perfect mixture of all these elements along with a “can-do and will-do” attitude can help you reach heights. Always remember – well begun is half done.