45-Year-Old with 1 Lakh Rupees: What Startup Can I Start for a Better Future?

Ans: Dear Mr. Asif, As you had worked for two good automobile companies in their mfg units , your experience will be useful for any other automobile company however as you are not in job for the past 5 yrs , Many companies don't prefer candidates who are not in job hence to get a job in Company may not be easy but your experience will support you to get into good automobile dealerships in their service deptt. Starting a new business is risky and requires huge fund. In case you are so interested , you may start a service centre for vehicles of your domain.

Ans: Mr Azad, you would like to have a side business to generate additional income. You have provided no idea of your skills/expertise/ experience nor of your financial situation (I am guessing that you don't have any surplus to invest in a business).

First and foremost, pl check if your current employer permits moonlighting or having another job even if it is freelance/ gig work. Many companies can take stringent action in this regard.
Second, what skills/expertise/ experience do you have which is distinct from your current job at TCIL? E.g., are you a good writer, or can draw or teach well or translate from one language to another, or cook etc etc. That will help you identify possible alternate income generating possibilities,
Third, how much free time do you have per day? On the weekends? And at what time? That will narrow down the list of ideas.
Fourth, what kind of other infrastructure, manpower support etc is required for the idea? Do you have the ability to get /pay for it? If you don't, you can only do those activities which rely on your time and expertise. You need to be able to give focused attention to it on a sustained business be it tuitions, writing, cooking, generating online content or whatever else you finally choose.
Fifth, do you have access to a set of customers/ buyers who want what you can offer and are willing to pay for it and can you easily reach them?
Once you have gone through these steps, you would have likely identified an idea that can potentially give you an alternate source of income.
Best of luck

Ans: Since your son has completed his BBA from Bangalore, it is important to align the startup idea with his interests and skills. Start by discussing whether he is interested in pursuing business or further studies. If he is excited to start a venture, his BBA background puts him in a good position for management roles, while Cochin offers opportunities in growing sectors like IT, tourism, and sustainability. Here are some startup ideas that focus on future growth and revenue potential:

First: IT Services or Digital Marketing Agency
If your son is tech-savvy and he is interested in the IT sector, so starting a digital marketing agency or IT services company could be a great choice. Because Cochin has a growing market of small enterprises and medium businesses seeking online visibility through media. You can offer services like social media management, branding, website development and paid marketing. With minimal infrastructure costs and the potential to scale, this business can deliver steady revenue growth.

Second: Eco-Friendly Product Store
With growing awareness about sustainability, a business focused on eco-friendly products such as biodegradable tableware, reusable bags or organic skincare products can be profitable. Cochin residents and tourists alike show a growing preference for sustainable options. This business combines ethical impact with financial potential.

Third: Tourism and Hospitality Services
Given Cochin's appeal as a tourist destination, tourism businesses offering curated travel experiences such as heritage tours, houseboat rentals or adventure packages could flourish even more. This industry has strong revenue potential and scope for expansion, especially with creative offerings.

Fourth: Franchise Business
Investing in a franchise in sectors such as food and beverage, education institutions or wholesale/retail offers the benefit of an established business model. For example, partnering with a recognised brand in education technology or quick-service restaurants can lead to steady growth with low risk.

Fifth: Co-Working Space
If your son is interested in real estate and the workspace sector, starting a co-working space could be a promising venture. With Cochin becoming a startup hub, demand for flexible office spaces is on the rise. This business can provide consistent revenue through memberships.

Before finalizing any idea, conduct a market analysis to identify gaps in the local market. Your son’s active involvement will not only ensure the business aligns with his passion but will also help in building a sustainable venture for long-term growth and success.