This article is for people who have been thinking of setting up new business or who have already thought but only have to execute. There are mainly two types of business - B2B & B2C. B2B is Business to Business. These are mainly those types where in our product can be used in industry and seldom or does not sale in regular retail market. Tatas, Birlas & Ambani have all grown by this market first. Then comes the B2C type. Herein, we manufacture such things which are used directly by the consumer. You can have n number of products - soaps, oil, notebook, clothes, accessories, pen, watch, utensils, kitchen tools, pet utilities, etc.
For Consumer products there are mainly Organized & Unorganized sectors. There are some big players and there are very fragmented small players. If you are thinking of starting something in this category then it would be good to have a feel of the market by trading. When you enter into manufacturing, you have to invest in machine, pay for raw material, manufacture products and then sell. The overheads might be too big at the start. So, it is better to buy some stock with that money, try selling it so you get feel of the market, quality, margins, trends, etc. Once you are assured, then you can go ahead to start your own manufacturing plant.
For Consumer products there are mainly Organized & Unorganized sectors. There are some big players and there are very fragmented small players. If you are thinking of starting something in this category then it would be good to have a feel of the market by trading. When you enter into manufacturing, you have to invest in machine, pay for raw material, manufacture products and then sell. The overheads might be too big at the start. So, it is better to buy some stock with that money, try selling it so you get feel of the market, quality, margins, trends, etc. Once you are assured, then you can go ahead to start your own manufacturing plant.
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