Investing in projects that demand less capital helps in building business stability and resilience.
The COVID 19 outbreak has staggered the operations in many sectors. Not only has it halted the supply chain demand, but the employment of many individuals was snatched due to the pandemic. Though the government has revealed no data about job losses or closing of Small and Medium enterprises, reports suggest that more than 12 core people lost their jobs due to COVID 19.
The manufacturing sector has been the employment medium for many people. As the economy and markets are opening up, and many SMEs are now engaged with manufacturing, the compelling conversation about investments with successful outcomes is ringing around every nook and corner. Investing in low budget manufacturing projects is the smartest and safest way to regain economic pace. And integrating these projects into the digital platforms will have a positive outcome. Hence here are five manufacturing ideas that will realign entrepreneurs in economic development.
The festive season is around the corner, and candles are the most used and valuable necessity in festivals. It is also amongst the most popular manufacturing business entities. Moreover, the use of candles is not confined to the festive season. On day to day basis, the demand for fancy and fragrant candles is surging. With a small investment, the business can make huge investments. Moreover, the manufacturers can start their web-shop for shipping candles in the regional, national, and international markets.
With a mere investment of INR 25000 to INR 50000, and only requirements of wax, perfumes, moulding trays, dye and types of equipment, candle making is a promising manufacturing business investment.
Manufacturing Soaps and Detergents
Soaps and Detergents are the most necessary commodities of FMCG. Utilised by everyone, these two promises a lucrative business value. Also, the market size of Soaps and detergents is highly profitable. Brands like Lux, Pears started as small business units, but they have become international brands now. Since these two commodities cater to the huge demands of customers, it is unlikely that investment in the manufacturing of these two entities would give a negative outcome.
Moreover, with increased hype of different soaps amongst social media influencers, the outlook of these two entities is promising. With an investment of only INR 50,000 to INR 1 lakh and understanding the right proportion of ingredients in soap making, anyone can open a small business unit, with a promising return on investments.
Manufacturing of Paper and Stationery items
Paper is one entity that would never go out in demand. Even though digital operations have become a norm, but many aspects of Indian society are highly reliable on papers. Be it in banks or the healthcare sector, the paper is required in every industry.
Low investment in the papermaking would not only assist the entrepreneurs in opening successful business units but also ensures a promising expansion. For example, once the paper-making operations become successful, the manufacturers can expand their business by producing tissue papers, paper bags, and paper plates.
Moreover, as the demand for attractive notepads, notebooks, and journals is trending on social media, the entrepreneurs can venture into creating smart stationery for commercial and personal use. Stationary brands like Whiteline papers and Supplied by Lily are extending their capabilities as a small regional business unit to multinational products.
Hence, this manufacturing project must be on the list of entrepreneurs and manufacturers.
Good day, Britannia, Bourbon are some names that started as small business units and reached heights. The manufacturers initially started them as home-made biscuits before extending into multi-regional domains. With a minimal investment of INR 25,000 to 50,000, home-made biscuits are an excellent investment choice for people having a passion for baking. One requires knowledge about the ingredients and measurements before indulging in home-made cookies.
Also, a Youtube channel will help to expand the business capability of this particular investment. Promoting these cookies on social networking sites will help in building customers.
Well! How cool is that!
Hair Oil Production and Cosmetics
How do you think Dabur Amla started its business? Or How do you think Boro plus became so popular? In Indian society, these two brands are trust-worthy amongst customers. And despite the many new hair oil and cosmetic products entering the markets, these two are still sailing at an all-time high.
These two are examples of how small business units can soar in national and multinational markets. One needs to know the correct technique, equipment, specific ingredients, and a small investment of INR 25,000 to INR 50,000 to establish a successful Hair Oil Production unit and cosmetics unit.
Additionally, you can market and promote these products through the e-commerce market and social media.
A small investment will give you large returns.
Investing in projects that demand less capital helps in building stability and resilience amongst the business units. It helps build confidence and enthusiasm amongst the entrepreneurs, manufacturers, and staff to continue operations and encourage them to enter a competitive market. Moreover, it provides a platform for many traditional manufacturers, having a dearth of huge capital and resources to grow and flourish.