The paper plate making business is a great opportunity to have an independent career and step into the shoes of an entrepreneur. If you are really attempting to start a manufacturing business on a micro-scale, then making and selling disposable paper plates is worth to consider. As you know use of plastic plates and other related products causes serious health issues thus are no longer in use in many countries across the globe. Paper plates have got immense popularity because of its easy availability and eco-friendly nature. The process of making paper plates is also very simple one and this product has a huge demand in the market. So, to start a business of your own, the paper plate making business is a great idea to venture.
Why Select Paper Plate Making Business
Before starting any business, it is necessary to do a research on the same and find out the pros and cons. After that, it is required to analyze that the business is suitable as per individual skills and potentiality or not.
- Advantages of starting paper plate making business
- Higher return on investment and profit.
- High market demand.
- No requirement of specific skills and academic qualification.
- Different government schemes to avail loan for the arrangement of capital.
- The manufacturing process is not labor-centric; most of the work is done by the machine.
- Great opportunity to start an individual career rather working under anyone else.
Market Potentiality of the Paper Plate Making Business
Finding out the market demand of the product is very important before choosing any business niche. Higher comfort to use is the main reason behind the increasing demand of paper plates. It is very easy to dispose of them and no need of cleaning and washing.
Paper plates are widely used in different occasions like a picnic or any kind of ceremony or any event where food or snacks are required to be distributed to mass. Since the paper plates are daily usable items and are disposed of immediately, this product is continuously in demand. So selling them for a higher return will not be a difficult task in Indian.
Important Factors to Know for Starting the Paper Plate Making Business
Customer Base: –
Paper plates are widely used in different eateries like canteens, restaurants, sweet and snacks corner and have a great market with the event organizers. You will get a steady market demand for your paper plate making business as with the increasing population and employment in private and IT sectors, the demand for the paper plate’s has also increased by a huge margin since last few decades.
With the help of your marketing skills, you can have an agreement with different canteens and restaurants or event organizers to have a permanent customer base throughout the period. You can lure them with attractive pricing or other gifts or schemes depending on the market requirement and individual choice.
Required Skills: –
You don’t need to have specific skills or knowledge about the manufacturing process. The paper plate making business is not completely dependent on manual operation. The maximum part of the manufacturing job will be done by the paper plate manufacturing machine. You may need to hire few staffs for the operation of the machine and do rest of the works. And you can concentrate on the marketing and expansion of the business.
The maximum required investment for starting a paper plate making business will end up to like 10 Lacs. You will need the same for purchasing the equipment and for the supply of raw materials. You can also start a small scale unit with a lesser capital, but then the profit margin will be less.
Arrangement of Capital: –
There are many new government schemes available now to get loan facility to set up small and medium scale business units and that is also without any collateral. To get the loan from financial institutions, you need to submit a well-prepared business plan about your paper plate making business. The business plan should have the detailed information about how you are going to run the business in a profitable manner and return the loan amount in the specific time period.
Selection of Location: –
As you will be starting a manufacturing unit, so the location of your business doesn’t play a major role. You can select a location in a bit interior area as it will cost you less for the plot but should have connectivity for the transportation and others like electricity and water supply.
As mentioned earlier that the major part of the manufacturing process will be done by your machine and it will also cost you a high amount to acquire them, so you must get the same from trusted and branded supplier. Check about the different terms and conditions like servicing and warranty before purchasing the same.
As the market is continuously evolving, make sure to maintain a high-quality production at a reasonable price to compete with the existing paper plate making business. Try to implement new strategies and learn new ways to manufacture at the most cost effective way. There is a huge market for the paper plate making business in India and with an honest effort; you can make it big from this business.