Real estate is a major contributor to growth. Real estate includes buying, selling and renting of lands, houses, and buildings. Our team studied the market with the real estate industry as a focus and was able to extract a few business ideas.
For an aspiring businessperson who is looking for a new business idea, here are some ideas for the real estate sector:
1.Backpackers Hostel Chain Business
Global tourism is highly fragmented and receives little attention due to the large number of local and international players. Even though international and domestic hotel chains are expanding in the country, the percentage of economic/low-budget tourists or “backpackers” is still much higher than high-class travelers. What is it that travelers need these days? The private hostel industry is booming because of its low-cost and convenient accommodation.
A backpackers’ hostel provides accommodation on a low budget, especially for those who enjoy traveling. It is a chain of hostels with basic amenities that are located all over the country. Backpacker Hostels in India are becoming more popular amongst young travelers due to their huge market potential.
India’s contribution to the world travel and tourism sector is 3,4%. This puts India at 7th place in 2019. India is home to the largest number of people under 35 years old in the world, which accounts for two thirds of the 1.2 billion Indians who travel, socialize, and explore. Investors and venture capitalists have a positive attitude towards the Backpackers Hostel market. If you’re thinking about starting a new business, you might want to consider establishing a backpacker hostel chain.
2. Property Makeover
This idea requires the right people and creative team. It is not necessary that people who are interested in starting a business in the property renovation field will only get projects for abandoned houses, forts, or palaces. These services are needed to turn places into themed art homes.
Themed hotels and resorts cater to the needs of customers, such as photo shoots, movie screenings, video albums, etc. They can weave their magic on the walls and floors, making it worth spending money.
3. Online Rental Business
Rental business is a growing business. Renting stays is a necessity as people are constantly moving. This real estate idea can be implemented without a lot of effort.
You can create a brokerage model for your rental business online. You have two choices: either rent your own property or create an online marketplace for owners to register their properties.
Real estate rental businesses online have many benefits. The online rental business can simplify many processes that are tedious in traditional rentals. Renters can pay online. If they have any questions, the information can be shared on-line. You can connect with a large number of property owners that wish to rent their properties. Property owners can list their spaces on a marketplace platform and you can charge them a flat fee for each booking.
This is one of many lucrative real estate ideas that will help you earn a lot of money. Online rental businesses are a great option if you want a real-estate business model with less effort.
4. Vacation Property Rental Platform
In tourist areas, vacation property rental businesses have a great deal of success. You are also responsible for cleaning, maintaining, and paying taxes. You can start the business from home.
5. Listing of properties for Sale, Lease or Rent
Create a website that allows people to list their property for sale, rent or lease. This is an easy business to run in the real estate value chain because it requires little start-up capital and can be operated on autopilot. If you’re looking to start a business in the real estate industry, one option is to create a listing website that lists properties for rent, sale and lease.
You can earn money by advertising your website. This is especially true if you have a lot of traffic.
Real estate is a very promising industry. Real estate is the largest contributor to the global economy. There are many real estate business opportunities in today’s fiercely competitive world. There are many business opportunities in real estate, especially with the advances in technology.