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10 Best Business Ideas in Nepal
“What kind of customer you want to satisfy?”,
“Whom do you want to serve?” These are few questions you need to answer before
starting any business. The customers may be patients, students, buyers,
traders, or others. Business deals with customers. To get the idea for any
business, research and development about customer demand is a must. Business
starts with identifying customer needs and ends with customer satisfaction.
Therefore, customers are the focus of any business.
Nepal, with a large growing economy and dense
population, has great potential for a business in any field. This article
discusses areas of big project businesses that require large investments. These
major business ideas in Nepal are briefly highlighted below.
1.
Hospital:
Investment: Above 2-3 crores
ROI: More than 5-6 years
Health
is the most important thing in the world. Unless you have good health you
should believe that you have nothing. No person in the world is completely
healthy. In fact, everyone suffers from many diseases in their life time. If
you visit any hospital, you can find long queue of patients. Thus, hospitals
can be an important sector to invest in.
Opening
a hospital can benefit individuals, society, and the nation as a whole. Also,
there is no better work than serving a human being. Priority can be given to
rural areas where the number of hospitals is low.
2.
School:
Investment: Above 2-3 crores
ROI: More than 3-6
years
The
second most important sector in the world after health is education. Loss of
education means the loss of something very important in life. Education is more
important than wealth. A well educated person can earn sufficient wealth in no
time. Not forgetting, the role of education in health awareness. Without
education we are all blind and can be compared to animals.
Establishment
of schools has great significance to determine the peace, progress and
prosperity of the entire nation. Unless education reaches every corner of the
nation, Nepal cannot grow. With the growing population size, the demand for
schools is also growing. This sector has profitable income and wide scope.
3.
College:
Investment: Above 2-3 crores
ROI: More than 5-6
years
Mostly
people drop out study after the secondary school level. Education is endless,
continuous and an ongoing process. In fact, the future of Nepal is in the hands
of current students’ knowledge and skills. After the secondary school level the
demand for higher education rises. The college level with a Bachelors and
Masters Level also has a high demand.
In
addition, a lot of students from other countries like Nepal, Bangladesh, Pakistan
and other countries visit Nepal every year in order to continue their higher
level study. On one hand, this helps Nepal to become renowned internationally.
On the other hand, it helps to earn foreign currency and inflow of other
income.
4.
Bank:
Investment: Above 2 billion
Investment: Above 2 billion
ROI: More than 5-6
years
In
today’s rushed world, banks have become a basic need of human life. Banks are
the largest of all financial industries and the most active players in
secondary markets as well. The recession of 2008 was the outcome of inefficient
banking practice and the world suffered only because of the inefficiency and
negligence of the banking sector as banking has become an important element of
the world’s economy.
Therefore,
the banking sector can be another important sector to start a business. The
things to keep in mind while starting a bank is that there is a threat of
substitute products as all banks provide same service. Retaining existing
customers and attracting potential customers must be taken into consideration.
5.
Restaurant:
Investment: Above 2-3 crores
ROI: More than 5-6
years
Food
is essential for the mere survival of human-being and life. Restaurants are as standard
as hotels. We can see a huge flow of customers in every restaurant. This is
because everyone is fond of eating. Restaurants may be frequented for meetings,
dating, outings, picnic programs, hunger satisfaction, or for lunch, dinner and
meal programs. So restaurants have a good market share.
If
the restaurant is in crowded area with a large population, no doubt, it can
flourish in an effective and efficient way. Neatness and hygiene must be highly
emphasized. Not forgetting about good recipes and food. Also home or office
delivery services can be initiated to satisfy the need.
6.
Real Estate:
Investment: Above 2-3 crores
ROI: More than 5-6
years
Whenever
we talk about business ideas, real estate investment comes in at the top of the
list. This deals with any kind of building, houses, land or properties being
managed, bought, sold, leased, hired, rented or transferred for gains. This
sector has a higher profit and a higher risk. We know that the higher the risk,
higher the profit and vice-versa.
Recently,
the real estate sector investment is in rapidly growing phase in Nepal. Unlike
other fixed assets, real estate keeps appreciating as it deals in land and
buildings. So the chances of loss is low. Government laws and central bank
policies can affect this sector to a great extent.
7.
Lounge and Bar:
Investment: Above 2-3 crores
ROI: More than 5-6
years
Another
important business in Nepal can be lounges and bars. During leisure time in
crowded areas and big cities, people are fond of visiting lounge and bars. This
can be a place for recreation, discos, dance parties and a place for
relaxation. This service must be offered 24 hours a day as people like to visit
bars at night time too.
This
business sector is urban centric. The availability of various kind of beverages
should be priority. Apart from this the music, discos, and good food must be
focused on as per the customers need.
8.
Cinema Hall:
Investment: Above 2-3 crores
ROI: More than 5-6
years
Every
year many movies are made in Nepal. The Bollywood industry is not only famous
in Nepal but has crossed national boundaries. We keep hearing of movie income exceeding
300 crores. This can help us to imagine the prospective of cinema halls in Nepal.
Mainly
movie theaters are visited for recreation, entertainment, refreshment and
relaxation. The same kind of environment must be created for customer satisfaction.
Of course, the use of advertisements and internet play a vital role in public awareness
of new movie theaters. Free tickets, free lunch coupons and discount offers may
be offered for customer attraction.
9.
Information Technology:
Investment: Above 2-3 crores
ROI: More than 5-6
years
Information
technology is a vast area. It has unlimited reach. The IT sector helps to ease life
making connections with across the world. Today, while staying in one place, we
can shop from home, learn about international news, get the latest information,
watch the World Cup in France, and inquire about our bank balance. The IT
sector thus has unlimited advantages.
The
future of Nepal depends on the flourishing IT sector. It is obvious that a country
with a low use of IT will remain behind in every aspect. On the contrary,
countries with a higher use of IT are sure to lead the world. Hence, the IT
sector can be most the important business area. It may be linked with
e-commerce, e-health, e-market, e-banking, online education, e-trade, online
shopping and other areas.
10.
Shopping Mall:
Investment:
Above
2-3 crores
ROI: More than 5-6
years
Human
beings have innumerable needs. These can be food, clothes, jewelry, kitchen equipment,
furniture, electronic equipment and many more. For these, they need to visit
different places. In this busy world, shopping malls can help a lot by making all
of these requirements available in a single place. This helps to save time,
money and the effort of visiting many places.
Malls
require research about the basic requirements of customers and need to make all
required products available in a single place. Also, online shopping may also be
offered for customers. Use of the latest tools, equipment and internet must not
be forgotten.
All
these are large scale business ideas in Nepal. These sectors play crucial roles
in their respective fields for the convenience of society and the country as a
whole. These business ideas, if started in systematic and scientific ways can
lead Nepal towards the path of success. They serve to increase the
infrastructure development of the country. The future and prosperity of Nepal depends
on successful infrastructure development.
As
the capital requirement for these businesses are expensive, they may be
initiated in partnerships. To start a small business is very difficult. When it
comes to such large projects, a lot of time, money and labor is required which makes
it even more difficult. These projects are easier when carried out in a team. Moreover,
detailed research and surveys must be conducted before starting these businesses.
In addition, the source and amount of capital required must be determined.
Obviously education, learning, experiences,
capacity and commitment must be analyzed in order to carry out such programs.
The startup of such projects is not an over a night task. It requires patience
and plenty of time. Similarly the return on investment (ROI) of such projects also
takes a long time. However, once initiated these sectors have long term
profitability for generations.
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