Ayodhya's Business Boom | Entrepreneur's Guide to Start New Business

The inauguration ceremony of the famous Ram Mandir in Ayodhya, Uttar Pradesh, created high demand for startup ideas. The event will not only be remarkable from a religious perspective, but certain pockets of the economy are also expected to gain big from the opening of the grand temple.

Ayodhya's Ram Temple inauguration is anticipated to be a momentous occasion with enormous possible economic implications. The number of tourists visiting Ayodhya is rising, which is driving up demand for lodging and food business. It will lead to a tourism business boom, presenting lucrative investment opportunities.

Tata Group hospitality firm Indian Hotels Company Ltd (IHCL) has signed management contracts for two new properties in Ayodhya -- a 100-room hotel under the Vivanta brand and another 120-room Ginger hotel -- which are expected to be operational in 36 months. At the other end of the spectrum, OYO plans to add 50 new properties -- 25 homestays and 25 small and medium hotels with 10 to 20 rooms each.

Any body working on business idea to open a hotel but don’t have high capital investment, have a golden opportunity to open homestays like Airbnb. Utter Pradesh government taking into consideration small business ideas, promoting homestays. According to Ayodhya Development Authority (ADA) who is responsible for infrastructure development has granted certificates to 600 homestays and more to follow. Anybody with 2-5 rooms to spare in their houses can become a homestay owner. They can charge Rs 1,500-2,500 per day for a room.

There is good business opportunities for villages around the ayodhaya. A plan is also afoot to bring in kuccha or mud houses in villages in the vicinity of Ayodhya to promote "village tourism". While 18 people have so far applied for it, 2-3 have been given certificates. And Awadh ki thaali which will have regional delicacies like nimona, phara etc will be served to guests.

What has been the quantum jump of property prices in Ayodhya? In 2019, before the verdict, the prices were between Rs 400 to Rs 700 per square foot. Now, they have gone to Rs 1500 to about Rs 3000 per square foot. Whoever made real estate investment in vicinity of 2.5 km of the Ram Mandir, has made up by 10 times profit within three years.

Here are few workable and profitable business proposals, few of them are very low investment business ideas. Execute any of below:

1. Food outlets like quick service restaurant or fast food corner or cafe

2. Nariyan, haar, prasad shop.

3. Home stay

4. Awadhi cuisine and culture

5. T-shirt printing- Ramayan

6. Hotels and resorts

7. Ayodhya Ram mandir Free travel guide”

8. Ram mandir replica models

9. Dormitory and hostels for solo travelers

10. Souvenir and handicraft shops

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