I've identified 5 businesses that you can start in 2024 catering to the fast growing adventure industry in India.
Why share these ideas?
It's more appealing to me to build a business with others who are just as passionate as I am. Throwing out 5 business ideas into the universe, hoping that I can be part of executing and bring them to life. Who knows, we could be business partners soon.
Shouldn't I be worried if someone will steal these ideas?
A profitable business requires execution. We all have ideas.
Why don't we have a homegrown stylish clothes brand for adventure seekers in India?
Why am I paying Decathlon for sub quality products? As a rule of thumb what was out of fashion in the western world few years back is sent to India. Like we are some third world citizens who deserve rejected products. Why can't we build our own North Face?
We have excellent textile and fashion designers, manufacturing capabilities, e-commerce and logistics distribution and a growing adventure market who already spends a lot of money on gear each year.
If Mokobara can take on VIP in the luggage industry - a new and hip brand can take on retailers flooding the aisles with same products year after year.
I have a friend who lives in the States. Poor fellow has to go to REI store whenever they have a sale in case I like something and want to have him bring it back to India. I know I'm not the only one with this story.
Matlab, an Indian trekker doesn't even have a handful of options when it comes to buying a ergonomically designed, stylish backpack? Somewhere down the line Wildcraft lost the plot and couldn't keep up with trekkers aspirations.
Our community is willing to pay upto 30-35k for a backpack that they will use for 10 days in a year. Why isn't some entrepreneur meeting this demand domestically?
I couldn't find a single job portal dedicated to folks who work in the adventure industry. Guides, sherpas, trainers, social media experts, property managers, cooks, housekeepers, rescue operators etc.
Think globally and not just domestic markets. Indians are relocating themselves abroad for better pay in the adventure tourism industry. I have personally spoken to 3 people who found high paying jobs in the Middle East at adventure parks.
Sure, it's a niche but one that is growing rapidly. If someone can match employers with employees, you have a nice business on hand.
Bonus Tip: Offer online courses that will help candidates polish their English, teach about etiquettes, hygiene and now you have a created a multiple revenue stream operations.
Nutritious Snacks & Beverages
Dehydration is the most common problem in the mountains. If you don't hydrate yourself regularly, you're screwed. What many don't realise is that when you sweat, the body doesn't just lose water but salt also. Yet, we don't replenish our bodies with enough salt. Salt, till very recently was considered bad for health. I had written about this earlier - Misguided war on salt.
The age old electrol hasn't changed much. They have recently added an orange flavour, but that's about it. Fast n Up sells salt capsules and they are quite famous amongst trekkers for its smart packaging.
If you could build a brand around salt capsules in 8-10 different flavors targeting adventurers, you will have a nice business in hand. Think flavours like coffee, mint, lemon etc.
Do you know what's the most common snack trekkers bring along? Chikki. Peanut chikki to be more precise.
If you could position and package Chikki as a healthy trail snack, you can tap into a community that is already addicted to the product.
Healthy trail snacks can be a whole new category in itself - salted crisps, peanut butters, flavoured makhana, sattu ladoo. The list is endless.
We've all seen trekkers who took the preparation process lightly and came to the trek unprepared.
You must have also encountered folks who train like a runner or a cyclist for a trek. I'm not saying running or cycling doesn't help, but climbing mountains requires its own customised training and diet plan.
I am not aware of any expert providing this service.
If someone were to conduct online workshops once a week with a group of 10-15 trekkers, it would add a lot of value to their trekking experience.
Surrounding yourself with people who have a common goal increases your chances of success.
I am building Summit Yak, an online trekking gear rental business. It's not the first business in its category but it definitely will be the biggest. I can't wait to serve you guys with the best products, customer service and distribution.
Which business from the above list has the most merit according to you?
Want to discuss - email me.