If you search online, you will get thousand of ideas available in the search engines, but the catch lay in picking the best idea which will suit the individual requirement and best business scheme in the market. Did you ever think over paper clip making business? It is a great small scale business opportunity which can be a great option to have your own career option to earn a good livelihood.
Market opportunity of Paper Clip Making Business
The paper clip also called as gem clip is the most common item in the stationary list of almost all office, schools, colleges, residence and others. You will not find any kind of organization which is running without the paper clip and with the increasing number of private sector offices the demand of the same is also growing.
Usage of Paper Clip
Binding is not an appropriate solution to keep few pages together and for that the use of pins is a good alternative, but using pins can cause damage to the papers and is not a good option for important documents and therefore the paper clip came to as a great alternative from keeping the pages together and that is also without causing any damage to the papers.
Advantages of Starting a Paper Clip Making Business
The primary advantage of starting a paper clip business is the demand for the item in the market. Paper clips are widely used for all kind of official usage and are found in every single residence and offices.
As it is a small scale business idea and it can easily be started as it needs very less investment to commence, over that you can start this business from your home itself which saves a lot of money for the infrastructure cost.
Another benefit of starting a paper clip making business is the manufacturing process as it is one of the simplest ones as the maximum of the work is done by the paper clip making machine only.
Paper Clip Making Business- Best Suitable For
This business opportunity is best suitable for people who want have a career which can be done from home like retired personals, housewives or anyone who is interested in starting their own business with a low capital investment.
Paperclip Manufacturing Process
As mentioned earlier, the manufacturing process of a paper clip is a simple one and you don’t need to have a higher qualification to commence the business. Below are the basic requirements for the manufacturing process: –
- Raw Materials: – The wire cable is the basic raw material for the gems clip manufacturing business. You may also need other miscellaneous which you will need to find out during the research of the business.
- Machine: – A paper clip making machine can be bought at a price of approximately Rs 1, 10,000 and the maximum of the job will be done by the machine only.
- Packaging Material: – After the manufacturing of the paper clip, you need to pack the item to sell the item.
You will easily find affordable wire cable from the market for the manufacturing of the paper or gems clip. After that you need to hand the wire in the stand and put one to the end to the bobbin of the machine, after the machine is turned on, the paper clip is manufactured automatically by the same.
As mentioned earlier, the manufacturing process is very simple and anyone with a little practice can do the same and if you want to produce colorful gem clips, then you need to buy colorful rubber tubes. In this case, you need to fit the rubber tubes into the wire first then put it into the machine.
Paper clip with rubber tube is a good choice above the normal one as it last long and doesn’t gets rusted quickly.
The paper clip making machine can produce around 100 clips in one second and it will come along with two different dices and a motor at around 1 lakh 10 thousand.
Steps to Start the Paper Clip Making Business
Starting any business needs a complete planning and research and the steps needs to be taken very carefully. Below are the basic steps to start the business:-
- Research: Do a complete research about the business and market. Find out if the business plan is suitable according to your location and credentials. If possible check with the different other competitors about the process of their functioning and their different strategies.
- Business Plan: Create a perfect business plan to run the business successfully. A good business plan also helps to attract financial institutions to give loan for running the business. You will need around 1 lakh 50 thousand Rs for starting the business and if your personal savings is not that much, you can take loans from financial institutions for the support.
- Legal Guidelines: Register your business from your local administrator and take the required license for the same. As you may run the business from your home, so take the necessary permission regarding the same.
The paper clip making business is a great opportunity to start an individual career and have a good livelihood and that is also with the least investment. If you still want to look for other small scale business and compare all of them. Check out the other categories in this website and be sure of getting the best idea for your new venture.