Many people want to start their own business, and are looking for business idea that can generate good profit for them despite less financial means. In light of this, today we are going to share with you a potential business idea that can be started on a small scale but help you earn lakhs of rupees annually with less investment.
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The business idea project that we have identified for you is that of floor wiper manufacturing that you can start with a little own contribution.
Business Idea: Floor Wiper Manufacturing Business
Floor wipers are a need in any place – homes, workplaces, stores, offices, hospitals, hotels, etc. They are used to clean water from kitchens, bathrooms, rooms, etc. Floor wipers are in high demand and operating a manufacturing unit can yield substantial profits. The government is also helping to start the business. If you don’t have enough money to launch the business, you can use the Pradhan Mantri Mudra Yojana initiative to apply for a loan from any bank up to Rs 10 lakhs.
Business Idea: Project Cost Of Floor Wiper Manufacturing Unit
The Khadi and Village Industries Commission has prepared a project report on setting up a floor wiper manufacturing unit. According to the project report, the overall cost of setting up the unit will be Rs 19.24 lakh, out of which your own capital will be Rs 1.92 lakh.
The report states that the land required for the manufacturing unit will be approximately around 1800 sq.ft. In the event that you lack land, the premises may be rented.
Floor Wiper Manufacturing Business Idea: License and approval
The basic registration required in this project:
MSME Udyam registration
GST registration
NOC for fire safety board
NOC from Pollution Control Board
Trade License
Floor Wiper Production COST OF PROJECT
Land and building Owned/Leased
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Plant & Machinery 13.55
Furniture & Fixture –
Other Misc Assets 2.00
Working Capital Requirement 3.69
Total 19.24
Floor Wiper Production MEANS OF FINANCE
Own Contribution 1.92
Term Loan 14.00
Working capital Loan 3.32
Total 19.24
Business Idea: Profit From Floor Wiper Manufacturing Business
Your business can earn lakhs of rupees if you are producing high-quality floor wipers. To sell your products, you can contact local retailers, supermarkets, and wholesalers. Additionally, you can list your product on online sites.
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The KVIC feasible report giving a Five Year’s Projected Profitability Statement on floor wiper manufacturing business said that in the first year you can see a net profit of Rs 5.16 lakh, Rs 7.06 lakh in the second year, Rs 9.08 lakh in the third year, Rs 11.17 lakh in the fourth year and Rs 13.32 lakh in the fifth year.
