Business Opportunities Corner: Key duplication

The topic of youth unemployment has been discussed constantly in every possible medium. Starting a small business can be rewarding and interesting, but it is never easy. Should one open yet-another-shoe-shop? A few individuals with entrepreneurial spirit have recently launched great businesses, such as ShoeVival and Greener Way.


In an effort to help others who are entrepreneurial, we're starting a series of "business opportunities" posts. The ideas are not based on in-depth market research, but offer suggestions for services or products that seem to be missing and needed in the Kingdom.

Idea #1 is a key duplication business. What if you need another key to your home or office? Currently Drukpas wait for their next trip to Bangkok...

For a key duplication business one would need to

1. purchase a duplication machine and blank keys
2. learn how to operate and maintain the machine
3. rent a very small space in town (or share a space in an existing shop or hardware store)

This business can be expanded to other locksmith services (have you ever locked yourself outside your car or house?)

Disclaimer: Our ideas are just ideas, not necessarily sound business advice. If this business already exists in Thimphu and we missed it, please let us know! Before rushing to implement the idea, do some research about costs. Create a spreadsheet with the costs and see how much you will need to earn to break even and to make a profit. See if you can survive for a year with no profit and perhaps loss, until the business is more established. The best approach is to consult with organizations that help local entrepreneurs such as the Loden Foundation.

We're also glad to post good ideas from our readers! Please email us your idea.