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The finance world is considered one of the immortal and oldest business goals since human existence. It changes shape and size, transforming exchange practices from cash to virtual, but it remains a strong concept of growth and stability. Whether it is about the new idea of the fintech industry or the century-old public and private finance, India remains an enormous part of the money world and is becoming more significant daily.
With a growing disposable income among middle-class Indians, the demand for financial products and services is skyrocketing. Investors can take the first step with a nominal amount from their comfort zone without taking a significant liability. In this discussion, we’ll discover some promising small business ideas within the Indian finance sector that do not require substantial pressure on your pocket.
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Sub Broker Franchise
For aspiring finance enthusiasts, a sub-broker business is an excellent career choice. By partnering with a reputable stock broking firm, you can leverage their resources, expertise, and brand name. The initial investment ranges from Rs.50,000 to Rs.3 Lakh, with additional costs for office set-up and a one-time registration fee.
The sub-broker franchise offers a structured platform for business operations. The established business model of the brokerage firm simplifies your journey in the market. You’ll receive your license and comprehensive support from the brokerage house when acquiring and servicing clients. As a franchise holder, your role involves promoting and selling financial products to your client base.
Any individual above 21 can join the rewarding venture. It is a promising way to enter the financial market without a large investment. Attracting and retaining clients is challenging at the initial stage, but the brokerage house’s brand name makes it more accessible.
The Best Sub Broker in India are Motilal Oswal, Sharekhan, IIFL Securities, Angel One & more. You can find out more about them in finec.in (India’s Best Stock Broker Comparison Website).
Mutual Fund Distributorship
Mutual funds are considered a timeless finance product, having existed since the 1920s. As a distributor, you must act between MF companies and investors, helping them invest more effectively.
The mutual fund market has marked massive asset management with a market value of Rs.65 Lakh Cr. However, you need an in-depth concept of the market’s risk and reward game. You must clear the NISM exam and obtain an ARN number to do this. Now, you can start the journey. By understanding the benefits, norms, and challenges, you create a trusted brand name in the market for long-term benefits.
With time, as you enjoy customers’ confidence, your business will grow with commissions from AMCs. So, it is a profitable venture for distributors and helps individuals grow and achieve their financial goals.
Stock Broking Partner
If you are passionate about the stock market and want to understand India’s equity market better, another rewarding career opportunity is waiting for you as a stockbroking partner. This opportunity allows you to combine your market knowledge with a business spirit.
As a stock broking partner, you have to work as a bridge between service and clients. In addition, the partnership deal indicates that you operate under the larger brokerage house with the best possible advisory backup service. Thus, you can help clients make their journey more rewarding.
Even this commission-based business can provide additional income with direct sales, like adding a client base to the product line. In addition to income and bonus, you have more flexibility and independence. That is why becoming a stock broking partner is an excellent choice for people interested in the capital market.
Stock Market Referral Program
Are you obsessed with the stock market but unable to make significant investments? Here is another scope in the market with a referral program. Joining a stock market referral program is a brilliant idea to earn extra money by helping others to invest.
For example, you can start the business by adding your friends’ social media networks to a brokerage firm. However, you need an affiliate link generated by the firm. Money is credited to your account when they sign up and start trading. Thus, you have zero capital risk with extra income.
You can create a steady income flow by increasing your networks and educating them about productive stocks and other products. This program is ideal even if you start in the market without an in-depth concept. However, you must promote the best products through your networks to create a sales funnel.
Stock Market Advisor
A business as a stock market advisor is up-and-coming. As an advisor, you help clients make productive decisions through risk assessment. However, it would be best to understand recent market trends, economic indicators, and investment strategies well. A stock market advisor can directly use referrals or charge a direct fee from clients.
The stock market constantly evolves, creating different scopes and challenges for investors. A successful advisor can help investors overcome this bumpy ride in the live market. Apart from a deep knowledge of equity, you must have excellent communication skills to simplify complex products for clients.
As you build trust and deliver consistent results, you will receive recommendations through word-of-mouth, giving you another opportunity to take your business to the next level.
Loan Agent
Do you know that, as a loan agent, you could make 1% to 3% of the loan amount for each successful deal? You can start as a DSA agent at any bank or microfinance institution to do this. As a loan agent, you will help clients get loans to fulfill their dream projects. Starting a journey as a loan advisor is ideal for those who want to brush up their skills with advisory services, including sales.
You can succeed financially by helping others with the right approach and product. Moreover, your business rotation enables you to acquire more clients. Also, you can hire agents to manage a large volume of clients.
In addition, you can add loan repayment, credit score control, and capital management advice. Some financial platforms offer insurance under loan management. As a credit advisor, you can also join that program.
Disclaimer: The information provided in this article on small business ideas within the finance industry is intended for informational purposes only and does not constitute financial or investment advice. While every effort has been made to ensure the accuracy of the content, the evolving nature of the financial industry means that regulations and market conditions may change. Readers should conduct their own research and consult with a qualified financial advisor before making any business decisions or investments. The website www.taxguru.in is not responsible for any actions taken based on the information provided.
