In this way we see that the estimated total cost of starting this business is about Rs 1 lakh 70 thousand.
Therefore, you can start this business with at least Rs. 1.75 lakh and with additional capital you can start it even stronger.
To start this business, you can take a loan for initial capital. This loan can be taken from a bank or gold loan institutions
Profit in rubber band making business
The first option to earn maximum profit in the rubber business is to manufacture the finished rubber yourself instead of buying the finished rubber as a raw material and manufacturing rubber bands. This gives you a good margin.
Another and important option to earn extra profit poland whatsapp data in rubber band manufacturing business is to sell it directly to consumers in the online market.
With this, the benefit of saving of margin spent in the long chain of distribution will be shared between both consumers and businessmen and both will get additional benefit. And if the consumer gets additional benefit, he will be interested in doing direct deal with this businessman.
Also Read: How to Start a Toy Store?
Marketing in rubber band making business
The market of any product is made by its consumers, hence marketing of rubber bands should also be done where its consumers are present and we have already discussed in the beginning as to where the consumers of rubber bands can be present.
Yes, you can market rubber bands to retail departmental stores, fast food centres, banks, government and private offices and to those industrialists who use rubber bands as a raw material.
Rubber bands are a rough and tough product in terms of air and water, and they also require protection from fire and heat. Special care must be taken when heating the rubber as it passes through the process and prevention of contamination must be taken care of.
All necessary permissions should be taken from the government. Apart from this, some things should be kept in mind while doing this business and before starting it-
Competition of rubber band businesses in your location.
Ensure proper traffic arrangements.
Obtain all mandatory NOCs.
The rubber band production house and its surrounding area should not be exposed to fire.
Even if there are sufficient staff, the staff should be efficient.
Before starting the business, do proper research about the construction industry and its market.