17 Most Profitable Business ideas & Opportunities in Goa 2020

Looking for business ideas in Goa? If yes read this. Actually there are many best business opportunities available in Goa.

Let me tell you that Goa is highly popular for its tourist spot and many local and foreign visitors visit Goa every year.

Goa is a tiny land on the western coast of India and it’s is considered the most famous tourist place for visitors. In Goa, you will see that there are many small and big companies that are already doing business. Also, you can try for franchise base business ideas in Goa as well.

17+ Business Opportunities in Goa

Business Ideas in Goa

Here in this article, I’ve compiled 17 best business ideas in Goa that you can start right now.

1. Restaurant

If you are interested in food-related business ideas in Goa then owning a small fast food restaurant is highly profitable in Goa.

The success of a restaurant depends on various factors like location, pricing, menu, ambiance, etc.

You can offer different types of fish foods, veg, and non-veg food to your customers. Also, you can customize the menu according to visitors. Read More

2. Fish Farming

Starting a fish farming business in Goa is highly profitable because Goa provides the best opportunity in the fish farming sector. Goa is situated on the coastline of the Arabian Sea which offers huge growth in the fish industry.

Fish farming is proven to be the best business for ideas for the people of Goa but it requires knowledge of hatching, food, breeding, along with patience, and day by day active monitoring.

3. Agriculture

Agriculture business in goa

Whether you’re a beginner farmer or an experienced farmer starting a farm is Goa is always profitable. As you are thinking about a farm business. Think about what you want to accomplish and how you’re going to get there. But there are a couple of things that you want to think before start investing in them.

  • Your purpose for starting the business
  • What do you want to accomplish
  • Doing it full time or part-time?
  • Do you want to make a living farming?

Firstly, you need to have a plan. A plan should be written down. You can make a lot of mistakes, and the best way to make mistakes is on paper, not with cash from your wallet or someone else’s investment.

Secondly, you must ask yourself what skills I have and who can help you with the operation. This is because farming is more than just a one-person job. Apart from that, you need to consider land, animals, equipment, and resources as well.

4. Waste Management & Recycling

Business ideas in Goa - Waste Management & Recycling

Waste Management & Recycling is another highly scalable business model in Goa. But firstly, you need to find out if the business is suitable for you or not then what products or derivatives are possible around which we could develop a financial structure. Also, whether that financial structure is self-sustainable? Will this give you a profit or loss?

There are several things you need to understand about garbage and its parts. The first part is organic means wet waste which we are facing troubles in day to day activities. 2nd waste is dry waste means inorganic waste or recyclable waste plastic, jute bag, rubber, glass, metal, etc.

5. Tourism

So, you’re thinking about becoming your own boss and starting a tourism business right? There are three main types of tourism.

Firstly, the international tourists who looking to view the country the second are honeymooners so people coming just after getting married and on vacation and the third are corporate clients and they’re often coming for different team-building activities

But before investing in the tourism business you must understand its essentials things. There are four essentials things that you need to think about.

  • Do something that you love
  • Design your tour
  • Choose Your Name
  • Write Your Business Plan

Do something that you love: If you love the outdoors, go and explore the best hiking or kayaking trails. Or if you just can’t get enough of your city, plan a walking tour with unique stops like the best taco truck in town.

Design your tour: This is the really fun stuff and probably why you wanted to start this venture to begin with. Not only plan your resources and route but think about unique things that you can add to the tour. Make sure you have plenty of great photo opportunities.

Choose Your Name: Deciding your business name could be the easiest or the hardest part, but the one piece of advice that I have to give you is to make sure your name is easy to pronounce and unique. Having a unique name will make it easy for people to find you when they search for you online.

Write Your Business Plan: A perfect business plan should include your Company Description, Market Analysis, Partnership Opportunities, Marketing Plan, and a Financial Forecast. That’s a lot of planning.

6. Clothing business

It doesn’t matter if you are in the clothing industry or not. Starting a clothing business in Goa is highly profitable.

But before jumping into the business you must consider the following things if you want to start-up in the clothing industry.

  • Do you want to manufacture or outsourcing?
  • Plan and preparation to set up your business
  • How much finance is required?
  • Who is your Ideal Target?
  • Think about the promotional strategy

If you don’t have massive funds, you need to understand that you can’t set up factories for production. But you can start outsourcing business like trading, selling, import and export as well. In order to start the outsourcing business, you need to understand what type of clothing you are about to outsource and so on.

7. Renting Bike & Scooter

Start a bike rental business in Goa. Yes, this is another cheap way to make good money in Goa. But try to determine if your bike rental business idea is feasible to identify questions and problems facing in your idea into reality

Here are a few essential aspects you must consider when you start your bike rental business. This will allow users to determine problems before they have and keep you saving for losing money. Here are a few basic things you need to decide first:

  • Practical Plan
  • Dedication
  • Technical skills
  • Basic knowledge of finance
  • Market Analysis

There are many business plan template available on the internet that you can download and use for your bike rental business.

Small business management software is highly recommended to minimize your efforts. Starting a business from scratch is hard but you will learn it eventually.  Try to cover all the essentials things that I have mention above.

8. Travel Agency

This is not actually business but you can earn a good amount of money while having fun. So yeah it’s a great option for you. If you’re just starting out as a travel agent or thinking about becoming a travel agent, you might be wondering how travel agents make money. It is one of the highest paying businesses in Goa.

If you are wondering how you can make money then let me tell you that they get commissions from suppliers on the trips they book and they get paid for planning fee from clients they work with

How to earn more?

In order to earn more money, you should focus on becoming a specialist in your niche. Doing your job will be easier more fun and you’ll be a higher paid travel agent after you narrow your niche and identify your ideal client avatar.

You’ll find that people are much more willing to pay a planning fee because again people value specialists and getting new clients is easier for you.

So one that is spending a significant amount of money on your trip they are the ones seeking out specialists so when you become a specialist they are more likely to seek you out and hire you.

9. Beverage Shop

So, you want to change what the world is drinking. But how do you take your beverage idea and get it on store shelves? It’s not as easy as mixing water and sugar and bottling it up in your kitchen. There are hundreds of considerations and hundreds of hurdles along the way.

While you might be able to clear some of those hurdles on your own, you can clear them a lot faster with the right business partner. Also, I think your best shot at success is to hire professionals to craft your dream product.

Here I’ll give you an understanding of all the tools you need to make your beverage, to turn your amazing idea into a commercial drink on the market. Firstly, ask yourself these questions; what type of beverage you are about to make? Is it an alcoholic? Is it an herbal tea or an energy drink? What is it sweetened with?

Once you have your beverage idea it’s time to take it from the kitchen to the lab. There are several key points to remember

  • Crafting a commercial formulation
  • Think about scaling it
  • Mass manufacturing your product

Now it’s time to share your drink with the world you need the right partner with the right equipment and the know-how to produce and bottle your beverage. This is the basic breakdown of what you need to know to start creating your dream beverage.

10. Photography


Starting a photography business in a tourist place like Goa is highly profitable. It may seem overwhelming to get started, and you might think that you don’t have the funds to invest in yourself to start your photography business.

But honestly, it’s really not that expensive, and it’s something you could get started at today, while you’re still at your day job, and build yourself a portfolio.

Here are some essentials to get you started with your photography business.

  • A Camera (Sony, Canon, Nikon, etc)
  • Lightening Room
  • Learn Editing (Photoshop)
  • Branding (yes it is important)

So I hope these are the basic essentials things that may help you out. Tell me any other things you think you should have in starting your photography business.

11. Food Truck

Food truck business a restaurant on wheels has been gaining popularity as a concept in India among entrepreneurs and consumers.

The estimated investment of opening an average food truck can cost anywhere between INR 8 to 10 lakhs in India.  It varies mainly according to the type of vehicle you are choosing and the kitchen equipment you are going to use.

Food truck businesses in India have of late progress toward becoming a significant factor recently in the advancing food industry in India.

Here are few tips to successfully start your food truck in India

  • Business Plan
  • Licensing Your Food Truck
  • Kitchen Equipment
  • Think About Investment
  • Promote Your Business
  • List It On Food Delivery Apps

First of all, you should create a food truck business plan which would act as a road map to the future growth of your food truck, and then you can start putting your efforts into thinking about other important aspects of building a successful food truck. Read More

12. Brewpub

A brewpub is the best business opportunity that is highly suitable in Goa. Starting a brewpub is a highly profitable business model in Goa because of its low prices and excise duty on alcohol.

13. Nature Tourism

Nature Tourism

Nature tourism or ecotourism is another highly popular business opportunity in Goa. People who love to explore new and hidden places will highly relate to this.

If you are an adventure personality as well as a nature lover then nature tourism is one of the best options for you.

14. Massage & Spa

In tourist places, massage services are highly demanded and if you are interested you can start it too.

There are many things you need to understand before starting a massage and spa business but I’m just focusing on two major factors that make a successful massage and spa business

Here are the two key components that I think are absolutely vital when it comes to starting a business

  1. Solid Business Plan
  2. Branding

Those to me are absolutely essential to a successful business now this may be obvious to some of you who were expecting a plethora of knowledge but let’s face it not many of us were bestowed with a lot of business knowledge.

15. Delivery Services

Looking for business ideas in Goa? why not start a delivery business? Delivering items like food, vegetables, grocery, to their respective location is known as a delivery service business.

If you have a grocery store, vegetable store, small food outlet, or anything like that you can start delivering them. But what if you don’t have anything like that? Well in that case you can partner with existing shops and start providing your services.

 Types of delivery services

  • Grocery Delivery services
  • School and office delivery
  • Courier delivery services
  • Newspaper delivery business
  • Packages water delivery service
  • Milk delivery service, etc

Initially, you can start this business part-time, and once you start growing try to import your products and build a brand for extreme growth.

You can build an app and start on-time delivery service to attract more customers. This strategy is already adapted by many business owners in India and you can do it too.

16. Catering Business

Catering in Goa

In a place like Goa, starting a catering business is one of the top business models you can start today.

You can actually get a catering business up and running and you can do it from your home. Here are some tips and tricks on how you can actually get a catering business up and running and you can have a home-based business.

But the only difference is you won’t be making that food from home, you could use a commercial kitchen to prepare the food and bring it to the event. Here are some tips for you to successfully start your catering business.

  • Licensing your catering
  • Understand your customers
  • Decide a Menu
  • Prepare your kitchen
  • Decide Pricing

So out of the tons of things that I will go over for catering these few things are super important, and again, they’re not listed by any means, they’re not listed by the most important down to the least. All of them are equally important, but they’re just different aspects that you might want to think about. Read More

17. Souvenir Shop

business ideas in Goa - Souvenir Shop

This is another highly profitable and low completive industry. Like any retail niche, gift shops Souvenir Shop have to find ways to separate themselves from others in the crowd. Unfortunately, the crowd is only getting bigger. But it’s not as hard to stand out as you might imagine.

Through some creative Souvenir Shop marketing, you can learn how to run a successful souvenir shop. First souvenir shops are most commonly found in areas teeming with tourists.

They’re outside museum exhibits, inside stadiums and arenas, and even at events and amusement parks. So wherever your gift shop is, focus on bringing in products those tourists in the area would want.

After setting your shop you must focus on marketing. Don’t ignore it. It plays an important role in growing your souvenir shop. Here are a few steps on how to market and promote your souvenir shop. I have got five tips for you to help you promote your souvenir shop

  • Create a Website
  • Mouth To Mouth Promotions
  • Social Media Marketing
  • Video Promotion
  • Pamphlets

For tourism-related shops like a souvenir or gift shop I strongly recommend you try TripAdvisor and keep up with them you also of course want Facebook and a couple of others but you can’t be everywhere all the time.

Pick out the social media pages you can take care of and really follow those next I wanted to show you is cards this is a great way for you to help your customers remember.


So that was the list of 17 new business ideas in Goa. If you are new to business then I highly recommend you join someone else business to understand how the industry works. If you want to go for no risk or low-risk business ideas in Goa then you can consider taking a franchise too. Cheers!

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