Are you looking for business ideas in Sri Lanka? In this competitive environment, it’s very hard to survive with one single income source. Also, it’s necessary to find out the right opportunity to create a second income. Starting a new business is challenging but since you have decided I’m here to help you with your decision. In this article, I have listed 12 small yet powerful business ideas that you can start in Sri Lanka.
1. Juice Bar
Juice bars are the best and quite affordable to start. If you are new to the business and don’t want to invest much for a starter then you should definitely try this business.
But before starting the business it’s very important to do a small survey by providing a free sample of your freshly made juice. This will help you understand what people likes, dislikes and their opinion about your product.
2. Mobile reselling
Buying and reselling old mobiles is a highly profitable business idea today. Because changing mobile phones is a trend for them and they do it frequently and their old phone become useless thus they sell it in half price or even low. So, if you buy and resell those phones to the needy people you can make a profit of up to 30 to 40 percent per smartphone.
Along with that, you can sell mobile back covers, chargers, earphones, battery, and screen protector etc to increase your revenue.
When I was kid I hardly got any private tutor at home but nowadays parents are spending so much on private tutoring. A private tutor charges about $20 to $30 per students so if you are teaching only 3 to 4 batches of 10 students that’s about $600 to $700 per month. Teaching is the best profession if you can carry it properly.
4. Catering Services (Small)
Starting a small catering service is another business idea for Sri Lankans. I know it’s hard but initially, you can help and manage your family functions or friend’s small parties to gather experience and knowledge which will eventually boost confidence and help you understand the industry, Catering services for birthdays, wedding anniversaries and other small occasions is the main idea.
This segment of the catering business has quite low competition and easy to stand. Also, you can customize your offers, organizing techniques and include new ideas to attract your costumers.
5. Computer Repairing & Selling
The growing industry requires more and more computers to function properly thus the demand for computer repairing technician have been raised. Instead of working in a 9 to 5 company you can easily start your own business with very little capital investment. A small computer repairing shop earns from 150,000 LKR to 200,000 LKR per month depending upon the services he provides
6. Fast Food Startups
In Sri Lanka, you will see there are many small fast food stalls in the street. Small fast food startups like String hopper stalls, Samosa stalls, Kottu Roti stall, Pani Pol (sweet pancake) stalls and many more are the most selling items in Sri Lanka. If you are on a low budget and still want to do business then fast food corner is the best business ideas for you in Sri Lanka.
Related: 30 Business Ideas in Bangalore
7. Coconut Transport Business
Starting coconut transport is one of the most profitable businesses ideas in Sri Lanka. The demand for Sri Lankan’s coconut is very high in metro cities. Let me tell you that Sri Lanka produced about 2,500 million coconuts every year which is 12% of their total agriculture crops. Thus, starting a coconut exporting business is highly profitable for young entrepreneurs.
8. Cloths Exporting
The textile industry is vast in Sri Lanka. The textile, designing, cloth manufacture industry plays a huge role in contributing to their economy. As a result, there are many small and big entrepreneurs who are doing cloth exporting businesses and making fortunes. So, an entrepreneur you should consider investing in cloth exporting business in Sri Lanka.
9. Tourism for Foreigners
Sri Lanka is very famous for its tourist places. There are many attractions like beaches, wildlife, natural scenic beauty, Heritage, Pilgrimage, sport and adventure to visit. If you are interested then you can gather information about tourism spots and consider starting your own tourism business in Sri Lanka.
10. Tea Export
Tea export business is one of the major sources of foreign exchange in Sri Lanka. Sri Lanka is the top 4th tea production country in the world and it fulfills almost 23% of the world’s tea requirements. Also, after Kenya, Sri Lanka is the leading tea exporter in the world. So as an entrepreneur you should consider investing in tea exporting business.
11. Taxi/Cab Service
Starting a small cab or taxi service in Sri Lanka is another profitable business idea for beginners. Sri Lanka is one of the fastest-growing countries with a population of 2.16 crores. About fifty percent of citizen uses cab services to travel from home to office and office to home and rest goes by their own car. Thus, starting cab dropping and picking service is a quite profitable one can manage properly.
12. Mobile Phone Repairing
As you can see the demand and uses of mobiles phones have increased rapidly in recent years. Therefore, more mobiles phones are getting damaged and going to service centers. But after the warranty period is over they charge quite high from their customers.
To solve this problem you can start a simple and affordable mobile phone repairing services which will turn into a profitable business with time. Additionally, if you want to learn mobile repairing; there are easy and affordable 6-month courses for that too.
Conclusion: Initially, you may face difficulties but don’t give up and lose hope. Once you gain experience and knowledge of the field you will gradually successful.
So that’s the list of top 12 business ideas in Sri Lanka. I hope you liked the article. Don’t forget to share it because sharing is caring.