You can easily start a hair band making business on a small scale from your home. It is a lucrative business idea with a very simple manufacturing process along with good market potentiality and easy way to earn a good profit. With the people getting more conscious about their fashion, the business of hair band making has also increased in both rural and urban areas. Hair bands have become an essential part of the fashion nowadays.
How is Hair Band Making Business a Better Option?
Every business comes with its own challenges and positive sides. It is very necessary to know about the business in details prior to starting the same. Likewise, hair band making business has also its limitations and advantages. It is always suggested to do a proper research before venturing into the same. Below are the few advantages of the hair band making business: –
Home Based: –
You can easily set up this business at your home if you want to start the business in small scale. A home based business have many advantages like:
- You can take care of both the home and business.
- Easier for housewives to get involved in the business.
- Can take help from other family members in the operation of the business.
- Saves a lot of capital in renting or buying a different place to run the business.
Small Scale: –
You can easily start the business as a small scale business unit. With the passing days, you can grow your business as you start making a profit from the same. It gives you the flexibility.
Capital Requirement: –
You can easily start the business with a very small capital in a small scale unit. You will need a maximum of Rs 1 lacs to start and operate the business. With the new government policies, you can also get financial assistance from banks by submitting a well-crafted business plan.
– There is a regular demand of hair bands in the market. This gives a great booth to the business idea of hair band making to prosper in a profitable way.
Easy Manufacturing Process:
– The hair band making process is very simple. Most of the work is done by the machine only. You don’t need to have specialized skill to learn to manufacture the hair bands.
These were the points which will help you to finalize your decision in starting the hair band making business. However, these are just a few, when you do a proper research about the business idea, you will come to know about many more advantages of the same.
Why is Research a must to start any Business?
A thorough research is a must before starting any business. It helps to get complete information about the business idea. Any business idea may seem very lucrative by hearing about the same from others or watching others getting success in the same. But, the reality may be a bit different. Starting a business may be easy, but it is difficult to run the same in a profitable way.
Thus a research helps to know all the aspects of the business and assist in making necessary planning’s about how to operate the same in a profitable way. Below is the few important aspect of the business which you need to find out in your research: –
- Market Potentiality of the business idea.
- Pros and Cons of the business.
- Legal process to start the business.
- Manufacturing process.
- Potential customer details.
- Raw material suppliers.
- Required machinery and others,
Market Potentiality of Hair Band Making Business
India has a huge population and hair bands have become a fashion accessory in both rural and urban areas. Thus, as a hair band making business owner, you can get a huge scope to run the business in a profitable way and also earn good profit from the same.
But to capture the market you need to produce a quality product with a reasonable price. Try introducing new and trendy designs. Regular check on the fashion trend will help you to find out the taste of the customers.
Manufacturing Process of Hair Band Making
Colorful nylon threads are the basic raw material required in the manufacturing process. Along with these, you will need different decorative items to give different designs to the product. Selection of the machinery is an important task. You need to buy the perfect machine as per your business scale. If you are starting a small scale business then an automatic hair band making machine will cost you around Rs 60,000 to Rs 1 lacs.
The manufacturing process is a simple one. You just need to put the nylon threads in the bobbin or the indicated place of the machine; it will automatically prepare the bands. You just need to cut the bands as per the desired sizes and join the ends. A standard machine can produce 10 kg of nylon thread band per hour.
Steps to Start a Hair Band Making Business
You need to contact your local municipal corporation or administrative office to get the detailed steps to register your business as per the Indian and state law. You need to apply for VAT registration, trade license and complete other formalities.
You can start the hair band making business with a minimum capital of Rs 1 to 2 lacs. You can take financial assistance from banks by submitting a business plan to them. The idea of hair band making at home is also an attractive one at the initial stage as it will save some of your capital for acquiring a place to operate the same.
Give your product an attractive brand name so that people can differentiate your product from others. Promote your brand extensively, so that every possible customer knows about your product.