Starting a business in this world can never be easier than it is today. However, it’s not that you can simply start a business without any planning. Whether a business is a successful business idea is the very first step that needs to be taken right. Nevertheless, tons of untapped markets still need to be explored. Muslim Economy is one such untapped market that has not been fully explored. Here are a few business ideas to leverage the potential of this untapped market.
Muslim lifestyle events:
Everyone wants to take a nap from daily routine and get some cultural twists in their life. Festivals and cultural events are the best way to spend quality time. Islamic cultural events are on the rise in European countries and are a great business opportunity. MLE & Copenhagen Mela in the UK & Denmark respectively are the best examples of such events. The recently concluded MLE 2019 was the biggest hit with over 150 exhibitors participating in the event. The event also crossed 50,000 footsteps collectively in its 5 years journey. Many other event organizers have started to follow the footsteps. Investing in such a business is surely going to be a profitable business.
Islamic Events portal:
Digital businesses are some of the most successful in today’s world. There’s a lot of potential for tech companies to dive into Muslim markets and skyrocket their revenue streams. Having forecasted the growing popularity of Islamic events, there’s a great business idea for digital entrepreneurs of an Islamic events portal. Currently, Salam Tickets, a project of Salam Planet, Muslim lifestyle app is the only global Islamic event portal. The minds at this organization were quick to forecast the future and launched the feature in 2018.
Although there are tons of Islamic apps available in the App Store and Play Store, only a few solve the problems of the community. A great example of an app based on problem-solving is “Never Miss Fajr”. An app that lets you wake up during Fajr with an aggressive alarm solution. Halal dating app for an instance could be a very profitable mobile app idea connecting Muslim teenagers and couples.
Halal Restaurants & food chains:
Although Halal food business idea is not new, still there’s a lot you can do by simply tapping into this business opportunity. Islam is the third largest religion in the UK, Muslims are 5% of the total population of England. The fact alone is enough to prove the importance of a food business for an entrepreneur. There are a lot of halal food chains that are making millions by offering halal food.
Unlike other religions, Muslims live their religion. From food to clothing, socializing to traveling there’s a complete code for everything. This also becomes a great market to invest in. Modest fashion is one of the most successful Islamic business ideas. Consider the example of Hijab, many top fashion designers and brands have used hijab one way or the other to build a presence in a modest fashion. Also, there are a lot of brands that are only based on modest fashion and are earning millions.