Don’t you think banana wafer making can be a thriving business idea? These days banana wafer has become a popular snack because of its taste and food values. Banana, one of the most popular tropical fruits in India is consumed by everyone in a variety of ways. One of the popular ways to consume it is as banana wafer. Although the major portion of the population consumes it as a fresh fruit. Banana wafer is a thinly sliced banana which is deep fried evenly to get it crunchy. Although this is an innovative way to consume banana and is quite new compared to the other banana products, it is very profitable and the manufacturing operation can be carried out along with potato chips making as well. Today I am going to highlight a few important aspects of banana wafer making business.
Marketing Potential of Banana Wafer Making:
The industry of processed food is placed at the fifth position in the country. This industry accounts about 6.5% of the GDP and the potential market of banana wafer is wide in range as well. This processed food item can be easily sold in many retail shops, pan stores and railway and bus stations, eateries which are mostly road side based. The other potential markets of banana wafers are school and college premises, pubs, bars, airlines and railway caterers etc. There is an increasing demand of this snack almost in all areas where public gatherings take place. It can be seen that the possibility of the wide market range gives rise to the chances of being highly profitable and it also has got export potential as well, to the countries where there is a good demand for such product.
Banana Wafers Manufacturing Process:
To make the banana wafers, you will need to ensure that the bananas that are being used for manufacturing the wafers should be of a very good quality and there should be an inspection carried out before starting the process to take out the bananas which are damaged and ripe. The good quality bananas which are unripe then are washed and cleaned properly in water and then they are peeled from their skin and trimmed properly before proceeding to slice it and cut it according to the preferred size. These pieces of bananas are then washed again in boiled water and after that they are dried up completely and shouldn’t contain any trace of water from the washing. These well dried up pieces of bananas are then deep fried in oil and each pieces should be fried evenly. Later on salt and/or spices are added to the banana pieces that have been deep fried to provide it its taste. The packaging is carried out after this procedure. There is a weight loss of 15 to 20% in the process.
The Raw Materials Used for Making Banana Wafers:
One of the most important and obvious raw material for the banana wafers are unripe and completely grown bananas. Some of the suitable varieties of bananas that can be used for making banana wafers are: Nendran, pachabale and Cavendish. The other raw materials that are required to provide the desired flavor to the banana wafers are: edible oil, salt, spices etc. Another important raw material that is required for packaging the banana wafers are printed polythene and corrugated boxes.
Registration and Licenses Required for Banana Wafers Making Business
Since it is a food processing business, you must obtain several license and permits from the concerned local or state government authority.
- First, you need to register your business with ROC. If it is a micro or small scale business, you may opt to proprietorship firm also.
- Next, you should apply for Trade License from your local Municipal Corporation, Panchayet or any local body.
- In case, if you need to apply for any kind government subsidies or grants, then you must register with Udyog Aadhaar MSME.
- You need to apply for VAT Registration.
- Compliance with FPO Act is a must for this business.
- Since you are going to manufacture an edible item, you need to take a license from State Food Safety Department. You should visit the official page of FSSAI to apply online. https://foodlicensing.fssai.gov.in
Required Machinery for Banana Wafers Making Unit:
You can easily start a semi-automatic banana wafer making unit on micro or small scale basis with moderate start-up capital. If you choose your home as location of the business, you will be able to cut down the cost of buying or renting a business place. Sometimes, you may not get several license and permits if you start this type of business from your home. My opinion is to check your local government laws applicable on getting business license and permits of processed food products.
The next important step is to setting up the banana wafer manufacturing unit. A large portion of your investment capital will be required for buying machinery and raw materials. The machinery such as banana slicer machine and wafer making machine are a must. The other equipment required for the manufacturing and packaging of banana wafers are listed below:
- Banana Peeling Machine is not an essential item for your unit. If you are starting it as a small scale business, you can trim down the operational cost by peeling banana by hand.
- Banana Slicer Machine accompanying attachments and electric motor is a must to get sliced bananas of even thickness. This slicer should be made up of SS.
- Wafer Making Machine is a prime requirement for deep frying the blanched banana slices in sunflower or coconut oil.
- A dryer that is electrically operated and consists of trolleys and additional 96 trays with it.
- An oil sieve to drain the oil after deep frying the banana wafers.
- An automated sealing machine.
- A furnace that is coal fired.
- Knives for cutting and peeling
- Aluminum utensils
- Weighing scale.
- DG Set.
The site where the banana wafers will be produced should be raised in height and well drained and it should also be connected by the roads. The hygienic condition of the area should be considered before selecting the area and the hygiene of the site should be maintained as well. Water should be clean and uncontaminated and there should be a good supply of power as well. A completely automated banana wafer making machine unit can save a lot of manpower cost but it is costly as well. One can produce huge amount of banana wafer with such machine.
Banana wafer making manufacturing project cost:
- The average capacity of the plant can produce up to 100 kg of banana wafer per day.
- The working capital is of 8 lakhs rupees
- Return of 44%
- The machinery can cost about 3 lakhs rupees.
- Overall capital investment is of 15 lakhs
- Break even is of 47.7%
These figures are merely assumptions and the actual cost can deviate either higher or lower than the assumptions stated here. The project capacity can be modified as per the need of the business.
Few Tips to Make Banana Wafer Making Business Profitable
Market research is very much essential for the success of your business. It reveals several facts like category of consumers, local taste, demand of banana wafers in the market etc. It not only helps you to identify your competitors but to determine the pricing as well as the added flavor of the product.
A well-thought business plan will guide you in your entrepreneurial journey. It should include the total amount of capital investment, working capital, and cost of machinery and other expenses, funding information and also the project capacity. The other crucial point that needs to be included is the promotion and marketing strategies.
At the very beginning of production, try to keep the profit margin low and that make the retailers interested to push your product to the customers for earning more profits. After researching your competitor’s price, you should set the pricing, preferably a little lower than the other well-known brands.
Always maintain a good quality and taste of the wafers as it ultimately matters in the market.