2020 has ended and 2021 comes with opportunity and new business ideas to change our life for a better future. Today hyperlocal business ideas are being recognized and reaching new heights of success. Now you can order anything, anytime, anywhere online.
This is possible just because of “hyperlocal business”. Buying and selling with such convenience for local (includes small vendors and local customers) is possible of because of the hyperlocal marketplace and delivery service.
People have started gaining trust in this business and are looking forward to invest in this institute. Hyperlocal marketplace is a business model that allows the sellers to target specific zones to cater the needs of the local buyers. It doesn’t matter if the business is small or big, it should fulfil the requirement of the local customer.
Hyperlocal business was valued around $1324 billion and is expected to be around $3634 billion by the end of 2027, registering a CAGR of 17.9% from 2021 to 2027.
As the pandemic is going on people prefer online shopping instead of the traditional way. This business has a great future and if you are thinking to start a hyperlocal business, it is the best time to enter the business. Hyperlocal businesses that provide delivery of products within a short geography kill range can be a successful option to consider.
They have all the key requirements that you need today to start your own local business. But a hyperlocal business ideas cannot include everything. With the increasing competition, you need to figure out one niche that you will fulfil with your business.
Profitable Hyperlocal Business Ideas in 2021
Hyperlocal Groceries Business
Groceries is an essential requirement in each and every household. Opening a grocery store in hyperlocal platform can be the most beneficial business as this business will never go down.
You can sell items like pulses, flour, grains, sugar, salt, rice, etc. to begin with. Having an inventory for snacks like chips, biscuits, etc. is also an option. After getting success you can research more on this business and understand peoples demand and add those in your inventory. Slowly and steadily, you can expand your hyperlocal grocery business in other areas as well.
Medicines have become a necessity in today’s world. Nowadays everybody is buying medicines through online platform. People avoid the risk of buying the medicines from the shop. Starting your own E-pharmacy store through hyperlocal platform is great idea.
E-pharmacies have become a common concept in India in the past few years. With a vast population of elderly people and individuals with chronic diseases, you have a chance to set up a local market and provide your customers with essential medicines. Unfortunately, in India, over 20% of the population suffers from chronic diseases. With medicine delivery, you can make life-saving drugs accessible to millions.
Some of the medicines do require a particular temperature-controlled storage, so delivering the medicine within a certain time period in this case will be the best.
Start by conducting market research and analyze which medicines are most in demand in your area. You can also opt in to sell nutraceutical and ayurvedic drugs to have a good reach. But make sure all these falls under the guidelines specified by the government.
Personal Care Items
Personal care items are those items which are totally dependent on a particular individual’s choice. These items include shampoos, soaps, body wash, detergent, floor cleaners, mops, brooms, etc. If you want to expand your hyperlocal business to greater heights, personal care items are definitely add on items in your list.
The most important thing for you is to investigate and understand your customers and which products do they require. The choice of products you make will totally depend on the area you are thinking to start your business.
You must understand that people keep changing their choices and you should know to change with the trend. If you are doing business in multiple areas then you should be constantly be updated with their trend and change accordingly.
During the lockdown, all the e-commerce business was down but when the lockdown was lifted this business expanded like anything. Online shopping for electronics is quite common nowadays but you can definitely have this business in your portfolio.
You can target particular products according to your area. Tools like mobile phones, laptops, charging cables, adaptors, USB drives, printer ink etc. can be delivered easily with hyperlocal delivery services. If the shop is nearby then it is easy for the people to trust.
Household Items and Kitchenware
It is almost impossible for any house to function properly without kitchenware items. Usually, every neighborhood has household item shop selling all the required items.
As people are nowadays concerned about their health, you can start with the business that sells household items and kitchenware that is sustainable and also promotes good health. Also, if you are in a locality that has many new people moving in, hyperlocal business can be extremely beneficial as people like to shop for household items online due to safety & lack of time.
Pet supplies are as essential as grocery and medicine. Without pet supplies like food, medicine etc. it would be almost difficult for the pet to survive in the house.
Comparing to the previous decade, the number of households acquiring pets have increased a lot. Many households have pets like dog, cat and fish etc. and providing them with the proper supply is a profitable business. There are not many pet supply shops in the market, so if you are thinking to get this business in the hyperlocal marketplace platform then it will be a hit.
There are many online stores which provide these kinds of services but delivering them at a proper time is always an issue, hence people prefer to buy stuff from the nearby neighborhood.
As we all know that people are more and more concerned about their fitness. People performing yoga and fitness activities has become a common practice nowadays. People are preferring to workout in their house instead of going to the gym to ignore all kind of negative outcomes.
Selling products like foldable treadmills, dumbbells, etc. are a great option. If you are thinking to get this business in the hyperlocal platform, then there is no looking back.
You can start your own fitness equipment shop that can help provide users with products like yoga mats, stretching ropes, etc. If these products are easily accessible, people will definitely depend on shops that are closer to them.
Hyperlocal Stationary Business
Work from home is a common practice nowadays and with-it students are also taking their classes from home. As the schools have not received any permission to re-open, they are providing education online. Without any stationary it is very difficult for any student to study.
Stationery is usually required urgently. With a hyperlocal shop, you can deliver these products to customers faster than Amazon and this delivery service can help you provide an edge for your business. You can sell register, notepads, pens, staplers, paints, brushes, etc.
To keep the price down you can directly buy the items at wholesale rate from the company.
Everyone enjoys bakery items like biscuits, cakes, and assorted cookies. People always prefer to buy bakery products from the near by neighborhood as they want the product to be fresh and healthy.
Thinking to start a hyperlocal business model for bakery products is a great idea. Delivering the product in short period the best. Selling customized bakery product is also a great option, the only thing that is required is proper type of equipment.
You can customize a lot of products like cake, biscuits, cookie bread etc. and make your business reach new heights of success through the hyperlocal platform.
Every home has at least one outstanding cook, but is very difficult to serve multiple cuisine to multiple people in the house. This is where the hyperlocal delivery service has a solution.
If you want to sell fresh and delicious food then you must collaborate with the local delivery service. You can easily sell fresh food through many ways like, online order, tiffin services etc.
This business model can slowly expand and you can build a large audience and expand your business as never before. The best part is that the business is easy to start as you can do it right from your house.
Are you looking to start a new On-demand business in the hyperlocal business platform? If yes, then these are some of the best On-demand hyperlocal business ideas 2021:
Hyperlocal handyman business has a very bright future. Many people do not know how to change their electric bulb or they do not have enough time to do so. It is very clear that in today’s world, people are dependent on others for these kinds of problems. This business grown a lot in countries like us, uk etc. The US market has a total revenue of 5bn dollars annually and its keep on growing day by day. The market for handyman is massive in today’s world.
Being a handyman has its own advantages. You get paid by hour, you work for multiple clients, you can also collaborate with big companies and get regular appointments but only thing in it is they will take certain percentage of our earnings.
On-demand handyman is also comfortable for customers also, they can book an appointment at their convenience and get the work done accordingly.
The handyman industry in the US:
- Revenue in 2019- $5 billion
- Revenue in 2020- $5.7 billion
Home care services
Home care services is also a very vast growing market in its own. It is one of the fastest growing sectors in US. The main reason behind its expansion is that people are preferring to be treated at home instead of going to the hospitals.
Other reasons for its growth are innovation in the technology, ageing population, physicians providing home care services.
The services include home care, nursing at home and home therapy. Nowadays people are shifting towards home treatment more and more. The procedure for booking a treatment is very simple. Customers have to book their appointment through online portal and the service is provided within that time period. The information regarding doctor’s profession, experience and rating are provided and one can choose according to his/her requirements.
Even the service provider get option to serve multiple patients and their pay scale is also good. If you are thinking to enroll in this service, this business has very bright prospect in the future.
Total revenue of homecare service in US 2019- $99 billion
Real Estate Agents
This business sector has always been among the top place in the market. This business has never seen a downfall in a long period of time. It is just as essential as grocery or medicine. People always need a place to live. Every category of class needs a house even if he/she is a traveler they need a place for accommodation, people who do not belong to a particular area need a place to rent and people who want to buy their own place they also fall in the same category.
People are always looking to invest their money in property, this business has flexible work hours, and the money earned by the brokers is also attractable.
After the introduction of Airbnb and other house booking websites, the way people rent or list their property has changed. The listings are given priorities according to customer ratings, and the convenience to list the property for the hosts has also been enhanced. The number of online marketplaces to rent out properties have been growing. We have seen new businesses coming up to cater to a very specific target segment like hostel rentals, villa rentals etc.
The real estate market has substantially grown in every country but it has seen a great hight in US
Total revenue in US 2019- $165 billion
Peoples craving for travelling and exploring new places have witnessed an unimaginable growth in the past few years. With airfare and other travel expenses being affordable, travelling has become a common practice in the world. This Market has a lot of opportunities and growth in the coming years. The way people travel or make travel plans have changed. People now browse, explore and compare different travel packages without the influence of a travel expert. There is a rise in the number of online travel websites along with the number of travelers.
Travel agency provide services like booking flights, hotel booking, car rental and other services. If you are good with customers and are able to give them a good deal then there is no looking back. Slowly and steadily, you can increase your audience and reach new heights of success.
Total revenue in US 2019- $41 billion
Personal Trainers & Nutritionists
People nowadays focus more on their health and the way their body is shaped. People prefer to workout at their home instead of going to the gym in current situation.
If you are knowledgeable and know about fitness, then this business has the potential to grow a lot. With people consuming more and more junk food, demand of this business is going to increase day by day. Making people fit and fine in there is great job.
With more and more fitness related website portal in the market, you have a great opportunity to make your own mark in this business.
Total revenue in US 2019- $9 billion
Food industry is a kind business which has the least possibility to face recession among all kind of business. Number of foodie’s are increasing day by day who have the craving to taste every cuisine possible.
Earlier people were hesitant eating from truck but now there are festivals celebrated serving food in the trucks. The advantages of food trucks as compared to the brick-and-mortar stores are the less investment cost, Time to starting the business and the portable kitchen from where you can serve food in weddings and events.
This industry is fast growing and if you want to be a part of it, then this is the best time to invest.
Total revenue in US 2019- $1 billion
Delivery services are always in demand. It can either be a food delivery, glower delivery or any other delivery service. People’s mindset has changed over the years, to get product delivered to them instead of buying in the traditional way.
It has a lot of advantages for both consumers as well as the service provider. Consumers can get the product in time and can order things according to their convince. The service providers get a lot of business and get paid a healthy amount for their service. This industry is slowly growing as digitalization is taking over.
This market has a lot business in US and will keep growing in other countries.
If you are thinking to start your business in the hyperlocal platform, then this is the right time to enroll and make your future brighter as never.