Unique Business Idea 2024: Everyone does not have a business mind but if you are thinking of starting a new business then you can explore new business ideas 2024 from the internet and other sources. Most businesses require high costs to start but today we will discuss with you a specified business plan 2024 which can be started at a very low-cost business and can provide higher profit annually. So, check this article to know about the Unique Business Idea with a minimum cost price which can be started by anyone.
Unique Business Idea (Floor wiper manufacturing business plan)
Most of the time we ignore simple and daily life best products while selecting a good business plan and mistake only investing for providing expensive services. But there are a lot of home-based products which are highly demanded in the market, and you can start these startups with minimum cost price. Floor wipers are one of them which is necessary for every home, office, headquarters, hospital, and all other places where caring and cleaning are very necessary.
Most Indian families use floor wipers in the bathroom and other places. Floor wipers are usually replaced in houses and companies in approximately 1 year. So, it is a long-term business plan that can fulfill the needs of Indian families and can also provide benefits to the investor.
Cost of the floor wiper manufacturing business
The cost to start a manufacturing unit for floor wipers will vary according to the land and locality. You should have at least 1800 square feet area to Establish manufacturing machines which are essential for manufacturing floor wipers. The machinery and all the systems that will help the production of floor wipers will cost around 13.5 lakh.
You should manage suitable furniture according to the establishment of the business factory of floor wiper which will be coated approximately 2 lakh Rupees. You should also have 3 to 400000 in hand for marketing and other purposes. So approximately you need to manage 19 to 20 Lakh to establish a floor wiper manufacturing unit in 2024.
Unique Business Idea with Minimum Cost, Earn up to 13.2 lakh per year
As we have mentioned you need to spend only 1.92 lakh rupees to start a new manufacturing unit of floor wipers, so in this section we will discuss with you the management of the cost. The Government of India is providing Mudra loans to micro, small, and medium enterprises through the Pradhan Mantri Mudra loan scheme.
You can apply for a maximum of 10 lakh loan in this scheme from any bank in India which is providing pm Mudra scheme. The Other money can be managed to purchase machinery in installments so you can pay monthly EMI to recover the installment amount. So, by following this procedure you can start a floor wiper manufacturing unit at your locality and earn good profit according to your production and quality.
Important documentation for floor wiper manufacturing unit
You have to manage the following documents while starting or before starting the manufacturing unit of floor wiper making:
- Business registration document: You need not be worried About the business registration documents as you can register your business on the government portal of Udyam free of cost through online mode.
- GST registration certificate which will take approximately one month
- Trade license for manufacturing floor wipers.
- Fireboard NOC
- NOC from the Pollution Control Board
Earn up to 13.2 lakh per year
It is important to be patience by engaging in business activities as this business will profit after 2 to 3 years because you need to recover the amount which you have invested in this business at the start of 1 or 2 years. After that once you hold the market and make a space among retailers then your demand will automatically increase and year to year your profit will increase. There is an example of KVIC feasible report who have earned 5.16 lakh in the first year, 7.06 lakh in the second year, And after reaching the 5th year they are earning approximately 13.32 lakh rupees annually in this business.