Part 12: Making food and other items
Computer Skills needed : NIL
Investment : As per business chosen
Period to learn and master: 1-3 months
In the previous article, we looked at how to earn your income by selling the products of another entrepreneur. Now that you can make those or similar products and you have the preparation as mentioned below, you can start such a business on your own, with your family or in partnership.
The following points should be considered when starting such a manufacturing business:
- Your interests, knowledge, information, experience
- Consumers, demand and competition for that product
- Requirement of space, capital, machinery, electricity, gas, manpower
- Production process,
- Calculation of goods, fuel, labor, transportation cost, fare etc.
- Government permissions
- Quality, quality
- Sales, distribution arrangements
- Income & Expenditure Estimates for the next 3-6 months
- Financial or other partner requirements
- Profit expected
If you make a mistake in making an estimate of the accrued expenses, there may be a loss, so you should proceed only after completing the complete study, arithmetic and calculation on paper.
You should decide your business plan by talking to people at home and friends or CAs who know about this business.
The following examples will give you ideas on which product to take up:
- Daily tiffin boxes
- Durable foods like laddu, chakli, chutney, pickles, wafers, biscuits etc
- Chocolate, cake
- Stitching small clothes
- Festive items
- Bags, purses, cosmetics, bags, paper bags
- Chemical products like phenol, sanitizer, soap etc.
- Incense, perfumes, colognes etc.
- Ayurvedic medicines, powders, tonics etc.
- Hair oil, body creams, beayty products
- Computer typing, printing, scanning
A lot of information on this topic can be obtained from entrepreneurs and the internet. What is needed is your unwavering objectives, in-depth study, analysis, decision making ability and take ACTION! Think, ACT!
Author, Satish Ranade, is Mumbai based, and in Information Technology business. Since, it will not be possible to take so many calls, kindly send your queries, suggestions in whatsapp message (on his number 9820344725) referring to SSSBIZ, and your name and city. You will receive replies. Also, save his name and number.