What is Retail Business?
A retail business involves selling products or services directly to consumers for their personal use. Retailers typically sell items at a higher price than wholesalers. Examples of retail businesses include grocery convenience stores, beauty salons, and rental places.
Types of Top Retail Business in India
The retail sector in India offers numerous opportunities for entrepreneurs. Here are the types of retail businesses
Low outlay business
These require minimal resource , with costs typically ranging from a few thousand. Examples include selling tea, opening a small grocery or fruit store, or starting a stationery or book store.
Moderate outlay business
These businesses require a moderate amount of resources, ranging from thousands to a few lakhs. Examples include starting a medical store, beauty salon or spa, or opening a cake shop.
High outlay business
These require substantial resources, typically in lakhs. Examples include starting an ice cream parlor, vehicle showroom, or a large chain of restaurants or supermarkets.