8 best Business Ideas in Pakistan 2023 with practical steps

A 9 to 5 job can be really exhausting and monotonous. And, to be honest, the majority of entry-level jobs do not pay well. You have to work for peanuts to earn a decent living for yourself. However, if you want to avoid the monotony of a 9 to 5 job, you can always start your own business. Here we are presenting you the 8 best Business Ideas in Pakistan in 2023.

All you have to do is choose a business idea that does not require a kidney to start, which is especially important if you are new to the industry. Moreover, it should be sustainable and it should earn a good amount of money because that’s our primary goal. Right?

8 best Business Ideas in Pakistan 2023

Following is a list of 8 best Business Ideas in Pakistan 2023, which could be considered for starting your own business.

1. Real Estate Investment

Among the 8 best business ideas in Pakistan 2023, Real estate is the mother of all ideas. Real State investment is one of the most popular investment opportunities in Pakistan.

People buy property, especially land, and leave it for some time. The value of the property rises over time. Residential and commercial areas are two common real estate investment options in Pakistan. Keep a track of the market prices and sell the property when the prices are at their peak. In this way, you will be able to reap maximum profits.

Real Estate is a safe investment option because you get total ownership of the property and most importantly, the land is an asset whose price usually increases. Furthermore, the property has the potential to generate substantial returns. If you are unsure whether to invest in stocks or real estate, we recommend that you read real estate vs stocks- where to invest?

On average, a property can give you 12% to 30% returns. This is almost triple the amount you are getting in banks. If you want to know more about real estate investment, follow real estate youtube channels. Also, keep in mind that real estate is not rocket science.

Some of the ways by which you can invest in properties are:

Commercial Properties:

If you have some money piled up in your bank then try to invest that money into commercial properties. Book shops and office spaces in malls or shopping centers and rent out space to different retail businesses. On average, you can get 5% or more returns.

Despite the growing economic importance that the real estate sector has attributed to the development of the economy, the true potential of the industry remained concealed in Pakistan. The construction and real estate sector impacts millions of lives across the nation. To bring together more than 50 allied industries, numerous governmental and non-governmental departments, as well as players in the public and private sectors, have laboriously worked.

Renovate Properties:

People usually buy old properties at a low price, renovate them and sell them for a profit. For instance, you can buy an old house, revamp its infrastructure and exterior and sell it at a margin.

Rent your House:

Consider your single-story home your future investment if you have one. Invest your money in your own house, construct another storey, and rent it out. You can earn handsome amounts every month, that too by sitting in your home.

If you do not have enough money on hand, consider loans from the bank. Even the government gives you home loans and renovation loans at low interest.

Farmhouse or Vacation Spot:

Vacation properties, especially in hilly areas, yield high returns. Invest in such properties and upload the properties on online property portals such as Graana.com, Pakistan’s smartest property portal.

Properties in Murree, Swat, Nathiagali, and vice versa earn good returns. During the vacation season, you can rent out each room starting from Rs.5000 and even more.

Lodging Sites:

If you have a spare room in your house then make use of it. Upload the property on lodging sites like Airbnb and earn passive income every month. You can also provide extra services like bed and breakfast and laundry to earn more money.

One drawback of this investment is that the returns might take time to mature and if you are looking for a short-term investment, then this option may not be feasible for you.

2. Poultry Farming

We placed poultry farming on second among our 8 best business ideas in Pakistan 2023. The poultry business contains four major sectors:

• Chicken Breeding/Hatchery
• Meat Production/Broilers Breeding
• Egg Production/Layers of Breeding
• Poultry Feed Production

When you have decided on your area of interest, you should focus on what type of bird you should choose. A starter should have no more than two or three different types of birds. Domestic chickens for broilers and layers are commonly available in Pakistan. Other available options include turkey, duck, and goose.

Methods of Poultry Farming

Different methods of poultry farming are being used in Pakistan. Previously, it was the intensive poultry farming method, in which the farmer/housekeepers would take exceptional care of the chicks and produce poultry all year.

Today, in commercial poultry farming, we use land, labor, feed, and a number of other resources to get good results. Two major types of commercial farming include layer poultry farming and broiler poultry farming.

Required skills

 When you deal with livestock, you must be aware of the animals’ feed, the environment they live in, their behaviors, and most importantly, the diseases they are likely to get in different seasons of the year and appropriate vaccinations.

So it’s better to do proper research or hire someone who could manage things for you.

Poultry Farming Business Plan

No matter how great a business plan is, financial affordability and technical feasibility decide whether you should go for it or not.

Now, since you know your budget and your area of interest – hatching, egg production, or meat production – prepare a comprehensive report that should take care of every detail, including required area, investment, birds, equipment, resources, marketing, clientele, etc.

3. Coffee Shop

According to Business Insider, coffee is the most in-demand commodity in the world after crude oil. In Pakistan, the business has tripled in size over the last decade, and, interestingly, the core of the business is no longer held solely by expensive and well-known brands. The food service industry is constantly changing. If you are looking for the best business in Pakistan with 20 lakhs this could be an option with some limits.

Business Plan 

Major points to be considered in the business plan:

• Investment cap
• requirement of manpower
• requirement of space
• requirement of equipment
• other expenses

Market Research

Market research is extremely necessary for all businesses generally, but particularly for the coffee shop business.

What should you research?

• Taste and demand of the locality you have chosen for the business (visit the best coffee shops and sip coffees, tea, and other beverages at various places to know what attracts them).
• What special thing could you offer to attract/divert customers to your doorstep?
• What marketing strategy including word of mouth will be helpful in making your voice louder?

Concentrate on Takeaway Customers

There’s no need to state how important your takeaway customers are. They pay the same but do not cost you occupancy expenses. Do the following for them:

• Make them an offer they can’t refuse
• offer loyalty cards
• offer the best quality packing

Marketing Strategy

To ensure that you make customers fast and keep them too, you should

• Focus on quality – the best branding tactic is your quality.
• Co-brand yourself with any popular brand.
• Make yourself present on all social media platforms.
• Engage with FoodPanda.

Investing in shopping malls is also a beneficial investment.

4. Digital Marketing Services

In today’s world, who doesn’t want to be promoted? Due to excessive social media use, social media platforms come up to be the first options for widespread digital promotion.

Therefore, starting a small digital marketing firm is a wonderful idea.

Business Plan

• Identify your target audience who might be using your services. Though digital media is the same for every client, its strategy varies client-wise. Therefore, it is wise to know what type of businesses you could easily promote.
• You may also want to engage a partner or investor for the business. It must be clearly stated on what terms and how you are going to run this business.
• Your business plan must take into account the latest trends in the digital marketing industry. Only new ideas get highlighted.
• What are your goals and objectives?
• How many clients at the most could you manage?
• How big a human resource do you need? How competent are they, and how to retain them?
• Make sure your business plan is realistic. Discuss it with those who know it.

It is a low-investment business in Pakistan.

If you are promoting real estate projects there are excellent ways to do real estate project marketing through Facebook.

Services 

You can offer a variety of services:

• Setting up a website
• Content marketing (webpages, videos, reports, social media posts, proofreading, and editing, etc.)
• Search Engine Optimisation (clients do want to get themselves ranked higher and higher on any search engine. Your SEO skillset can help them get there)
• Social Media Planning
• Graphic Design
• Company Branding

5. Day Care Centre

If you love kids to an extent that their care makes you comfortable, this is a tremendous investment opportunity for you.

Every office-going woman in Pakistan is concerned about her kids’ care, as no good and affordable daycares are available even in the major cities. So why not grab the opportunity?

Interestingly, this business requires less investment, but more passion and interest. There are the most successful small business ideas in Pakistan can grow to a large level as well.

Market Research

Before you start, look for the following things in the available daycare centers in the area:

• number of children in the daycare
• ages of enrolment
• hours of keeping children
• tuition fee
• location
• required staff
• other necessities

Business Plan

Your business plan should take care of the following things:

• How many children can you care for conveniently?
• Children, of what age could you take care of?
• For how long could you keep the children?
• How much staff do you require? 

Safety Plan 

• Safety exits from your home/center
• Necessary first-aid kit
• Prevention plan for fire or other hazards
• Emergency handling preparation

Good Budget, Good Start 

Your investment includes:

• Salaries
• Equipment and necessities (educational, kitchen, outdoor, office)
• Supply of items (educational, housekeeping, office)
• Daycare promotion (print, online, ad space)
• Food
• Licensing fees (if any)
• Insurance (if required)

Tuition Charges

• Charge relatively less if you’re in tough competition.
• Decide the deadline for the payment with reasonable leniency.
• You are all set to go!
• Choose location
• Purchase equipment
• Purchase insurance
• Market your daycare
• Research
• Use digital media platforms i.e. Facebook, Twitter, Instagram, etc.

6. Girls Hostel

Quite like office-going women, female students have many problems. Finding a reliable and accessible hostel is, of course, one of them.

Since we have very few reputable places in our cities where women could stay for their educational system, the business of girls’ hostelling has experienced quite a rise in demand over the last few years.

Business Plan 

• Decide if you need help from a professional to set up the business, or if you can do it yourself.
• Look for a location near academic institutions, retail and corporate hubs, and any secure place where access to women is convenient.
• It’s better to rent out a double-storey house where at least 10 girls could be accommodated easily.
• Provide all relevant facilities within the hostel i.e. kitchen and internet service, etc.
• If rooms are big enough, you may divide them into two with a separator.
• Pricing should be carefully estimated, including all expenses and profits.
• Strict operating policies should be underlined.
• Do rigorous market research to identify all the given requisites.
• Prepare a marketing strategy and identify from where you could get potential customers.
• Every known university and corporate sector should have your address.

7. Fish Farming

Even if you’re not good at fishing, you can start up this thriving business. Let us tell you how to do this.  

Business plan

• Find a suitable place in your home and dig a pond, and if you haven’t any space, search for a bigger aquarium. Fishes can be raised in tubs, containers, and even bigger tubes.
• Lab tests your water for purity.
• Identify your market before choosing the fish type.
• Identify frequency, quantity of supply and demand, etc.
• Develop a clear understanding of what exactly your budget is.
• Develop an understanding of the fish feed and source of procurement.
• Keep in mind the frequency of harvesting and supply to the market; fish consumption decreases in summer in Pakistan.
• Decide how to get the fish to the market.
• Create a solid marketing strategy
• Arrange the following equipment:
  • Aquarium or fish tank
  • Pumps
  • Aeration Devices
  • Net or Seine Reels
  • Handling Equipment
  • Water testing equipment