The Growth of Startups and Small Businesses in Lawgate: A Student-Driven Market

 


INTRODUCTION

Lawgate, a bustling area near Lovely Professional University (LPU), has transformed into a hub for small businesses and startups. Since Lawgate exists primarily to serve the student population, business owners in this area have built their ventures around the needs and demands of students. To understand the business landscape, I conducted a survey with local entrepreneurs, and their responses provided valuable insights into the opportunities and challenges they face.

Why Entrepreneurs Choose Lawgate

A majority of business owners started their ventures in Lawgate due to the high student population and demand. Many believed that serving students provided a stable customer base, ensuring regular footfall. Some were also drawn to Lawgate because of affordable rental spaces and lower competition compared to other areas.



Types of Businesses in Lawgate

From the survey, it is clear that food and beverage businesses dominate Lawgate. Cafes, restaurants, and fast-food outlets are the most common, as students rely heavily on these services for daily meals and social gatherings. Apart from food-related ventures, retail stores (grocery, stationery, clothing) and service-based businesses (hostels, salons, laundry, and printing) also thrive in the area.





Initial Investment and Business Growth

Most entrepreneurs started their businesses with an initial investment of less than ₹50,000, which indicates that Lawgate offers low-cost entry opportunities for small businesses. Many business owners reported that their profits have increased significantly over time, showing the potential for financial growth in this market. However, a few mentioned that their profits remained stable rather than growing.


Challenges Faced by Small Businesses

Despite the growing market, running a business in Lawgate is not without challenges. The biggest concern among business owners is the high competition among similar businesses. Since many entrepreneurs target the same student population, they must continuously innovate and offer better deals to stand out. Seasonal fluctuations are another challenge, as business slows down significantly during semester breaks when many students leave for vacations.



Understanding Student Spending Habits

According to the survey, students in Lawgate primarily spend on daily essentials like food, groceries, and personal care items. They prefer making payments through digital platforms such as UPI apps (Paytm, Google Pay, PhonePe), making it essential for businesses to adapt to cashless transactions.



Marketing also plays a crucial role in attracting students. Digital marketing on platforms like Instagram, WhatsApp, and Facebook has been the most effective strategy, helping businesses reach their target audience quickly. Flyers and posters placed around Lawgate and LPU have also worked well for some entrepreneurs.


What Can Improve Business in Lawgate?

When asked about what could make Lawgate a better business hub, most entrepreneurs suggested:

  • More collaboration opportunities with LPU to gain better visibility and access to students.
  • Improved infrastructure, including better roads, lighting, and cleanliness.
  • Lower rental costs and taxation benefits to ease financial pressure on startups.
  • More diverse business opportunities beyond food and beverages to reduce competition.


Final Thoughts

The student-driven economy of Lawgate makes it a promising location for startups and small businesses. Entrepreneurs who understand student needs and adapt their strategies accordingly are thriving. However, with increasing competition, businesses must find innovative ways to stand out. If Lawgate continues to improve its infrastructure and business environment, it has the potential to become an even more dynamic commercial hub for student-centric businesses.



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