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  • Category: Finance and Investments

    It's my dream to start my own business


    Dreaming to start you own business? Searching for advice regarding the budget, machinery and marketing techniques? No worries, go through the advice and guidance provide by our ISC experts here.

    I wanted to start T-shirt, mug, plate, case cover printing and shoes manufacturing company.
    Can you suggest the budget and machinery required and marketing techniques?
    I am looking for an automated system.
  • #151857
    Having a big dream is the basic instinct required for progressing in this world. You can try to achieve it if you have a desire to excel and will to work hard.

    Anyway for starting ones own business there are some basic things which are to be seen in details. First is financial part whether you are planning to put your own or your family wealth for the purpose or want to raise money through a loan from the bank. This is the most important part as the initial set will require expenditures for setting up a manufacturing or service unit where men and machines are to be provided for these activities. In your case, the envisaged business is comprising of two parts - first is printing on clothing's and ceramics etc and other is manufacturing of shoes. These two activities are distinct and require different machineries.

    Depending upon the size of your business you have to get it registered under the particular category. The basic categories are micro, small and medium according to the cost of plant and machinery or volume of service.

    Micro enterprise is where the plant and machinery does not exceed Rs. 25 Lakh and in case of service it does not exceed Rs. 10 Lakh. Small enterprise is one for which plant and machinery is between Rs. 25 Lakh and Rs. 5 Crore and for service it is Rs. 10 Lakh to Rs. 2 Crore. For Medium enterprise it is Rs. 5 Crore to Rs. 10 Crore for machinery while Rs. 2 Crore to Rs. 5 Crore for services.

    For registration, trademark and other associated things you may have to take the services of some agent who are doing this job for the business entities for a fee. They will properly guide you for the different permissions and clearances related to manufacturing, service and pollution control etc to be obtained from the concerned Govt offices. During the initial phase of establishing the business certain affidavits and legal declarations will also be required to be submitted for which these agents will coordinate with notary public and authorised magistrate.

    If there is delay in starting the production facilities one can get the provisional registration for starting the work and later the final or permanent registration can be obtained.

    Identification of land, building and other infrastructure is the crucial part in establishing a business and in that connection it is advisable to hire a unit in some industrial area so that there is no problem of basic amenities like water, electricity and manpower as such places are flocked by the job seekers and diploma holders.

    Once the machinery, computer systems, printers etc are in place and you hire people to operate them, who will usually be some diploma holders in the concerned fields, you can contact the whole sellers or online shopping platforms for selling of your product and in the beginning there will be teething trouble but if you maintain the quality and supply the merchandise in time there are ample chances that you can establish your business.

    Knowledge is power.

  • #151861
    You have to first have a basic knowledge of the industry you are going to start. If you have that, you may approach the local district Industries Centre or any governmental agency who promote industries in your state and district. You may discuss with them. They will able to help you to make a project report. Or you have to get a consultant to make the project report.
    In case you do no have any knowledge and idea on the business, I suggest you make visit to one or two similar industries and have discussion with the concerned people and learn things.

  • #151863
    Prior to start any industry, you should be have a clear vision of the type of industry you want to establish. Now there are different aspects to be considered such as procurement of raw materials, the convenient and cheapest source of procurement of the same, transportation - cost of such inputs, electricity, water etc.
    You need to raise your financial resources and for which you have to approach a bank with your basic details of the installation of the industry and asking the authority to sanction the requisite amount of loan for the installation of industry. They may ask you some security so that the bank does not loose money in the event of the flop of your business.
    Then you have to meet the director of Industries located in your district with your project - report. This needs to be approved by the officials before this could be implemented in practical diamension.
    There are two ways of acquiring knowledge for your business set - up, - either you surf the Internet so as to be familiar with different aspects for setting up of a business or you should visit a similar industry for a better perception. You may even have dialogue with the personnels in order to know the ways of better operations and the solutions in the event of crisis.

  • #151875
    For starting any business a lot of home work is required to be done. The first and foremost is the type of business and its scope in the market where one is planning to sell the products or provide the services. This is of paramount importance as the basis of a business is sale and if sale is little or not there, business does not make sense.

    Next thing comes is deciding the location where one has to keep the machineries etc. This should be a logistically good place otherwise the expenses on logistics will eat away the profit margins.

    Generally before starting a business people take some professional advise of experts who can make an assessment of the business versus the market conditions and capital outlay and flow of funds through sales and liabilities. Today the business margins are shrinking and people are going for large volume of sales with lesser margin and in this situation a new entrant with low sales will find himself in a vulnerable position.

    So a good professional advice from a business set-up consultants or advisors will be required to be taken before proceeding ahead.

    Thoughts exchanged is knowledge gained.

  • #151876
    Basically, when you think of starting a business, you should understand the basics of the business.
    Before deciding on the line of activity you should have an idea of the market requirement and what is the present supply and demand ratio. So I suggest you get the market survey done and then decide on going ahead.
    The next point you should think about your core competency. What are the positive points and negative points? You have to get the SWOT analysis done for both the line of activity and your personal suitability, Once yous work on the subject gives a hope that the line is good for you. You can start working on that.
    Initially when you start you have to start with one product and that should be an easy product. We should always try to pluck low lying fruits. Once you are through in one or two initial products then you can think of attacking more fields.
    Based on your core competencies and market potential, you should also decide on the scale of operation also. If I have to take a call, I will start at a lower level where unexpected happens also we can easily withstand. Once we are successful we go for expansion.
    Before starting you should also see that what are the statutory requirements and we should fulfil all the requirements.
    A proper planning and following the planned path are very important.
    A person we are good in that line can be contacted for a proper suggestion and help. I wish all the best to you.

    drrao
    always confident

  • #151900
    A. I do not know where you stay and where you intend to start your business. The first part of what you have in mind is the 'PERSONALISED GIFT THEME INDUSTRY'. This is well established. Regarding your T-shirt, mug, plate and case cover printing, there are many firms already doing it on a large scale via the online mode offering door delivery and in-store collection (printo.in,vistaprint.in,inkmonk.com, printland.in,printvenue.com).

    Apart from this, the local photograph studios, wedding photographers also offer this service right from the branded ones like GK Vale to the small shops all offer mugs, plates, T-shirts etc. Even Archies offers these services online and in shop too.

    So, do your local research and then think of venturing into this, do you have a potential market? If you do, then do not limit this only for the shop related foot-fall of customers, approach retail brand chains, offices, MNCs, colleges etc where in they have a large team and need team promotions. This will bring you a regular flow of orders.

    B.Shoe manufacturing is again a large industry, you just need to visit the local markets where in we get reasonably good shoes for Rs.399-499 (Metro India, VK exports in Karnataka). Again the online market is statured and all popular platforms offer this ( amazon,flipkart,snapdeal etc). So, again do your research.

    Both A and B are different streams of businesses, think, lay out your ideas, sit with someone you know who is already doing this. This considers the initial investment and the overheads which will include the supply chain from the raw materials to the final delivery. I feel it would be better to stick to one, A or B, do a local on-ground check in your area about the estimated supply and demand for the products and how you can make a difference. Then you can follow the suggestions given by the above experts.

  • #151924
    You need to do some market research first for such kind of printing companies which print on mugs , tee shirts and merchandise. Obviously these companies give printing in nominal rates but they take orders in bulk. So be ready for it.
    There are some market research and promotional companies which can help you to promote your store. Now everything will charge you so you need good financial support and lot of time and patience doing things.

    Avi
    Life Is Beautiful

  • #151949
    Manufacturing business usually fall into LLP or PVT LTD. So don't start the manufacturing business under propritory or OPC limited. So here are some of the things you can try out for building the business in the following order.

    1. Name choice for business. Register business under PVT LTD or LLP.
    2. Register domain name and also set the place for the address.
    3. Make sure to register for Aadhar Udyog and other govt schemes.
    4. Find out the wholesalers who you can use for the printing of T shirt during earlier phase.
    5. Find out the wholesalers for the raw material.
    6. Find out the prices for machines required and purchase depending on the phase you're in for production.
    7. Find out if the loan is applicable for your manufacturing business and if you can get some concession.

    Next part comes the execution.

    1. Print atleast 10 to 50 shirts.
    2. Register on flipkart and amazon.
    3. List your shirts there.
    4. Drive traffic through ads and social media.

    Deliver the products through respective e commerce website. And reinvest profit till you set your business in automation. This is the small blueprint that you can follow.


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