How To Start Eraser Making Business Manufacturing Business plan- Requirement, Investment, Profit, Machine Required | SkillsAndTechSkillsandTech | February 6, 2022 |
Choosing to invest in a business idea can be a tough decision at times. Moreover, some additional factors that affect this decision are: – which business idea to choose, how to invest in it, when to start the business, where to make the set-up, and many more. Therefore, intending to choose an expanding business idea, our primary approach should be analyzing its soaring need in the existing market.
In addition to the same, since there is an enormous demand for erasers in the present market, choosing to set up an Eraser Making Business will be a worthy choice for budding entrepreneurs.
Besides, if you wish to assure complete success in the Eraser Making Business, it is prudent to refer to a well-structured Eraser Business Plan. Moreover, the Eraser Making Business plan will provide you with an outline of how to set up the business and make a huge profit out of it. Hence, it is extremely vital to make an influential business plan.
Table of Contents
The Idea behind Choosing Eraser Making Business
Since erasers are used massively in the educational sector, it is a product that can never go out of fashion. Additionally, erasers have a huge potential market and therefore investing in the Business is a money-minting decision.
- Eraser Making Business is identified as the most economical business venture.
- Adding on to the same, intending to set up the eraser business flourishingly, you must use a well-structured eraser business plan.
- Since, the erasers are used massively in the educational sector, the product has a huge potential market and therefore investing in the Eraser Making Business will accumulate great profit for your business entity.
Raw Material Used in Eraser Making Business
See Also: Ghasitaram’s Sweets Franchise
The eraser is generally a rubber made up of: –
- Natural Rubber
- Synthetic Rubber
- Petroleum products like: – styrene and ethylene
Making and selling erasers of good quality is an eminent way to gain success in this business.
In addition to this, the Eraser Making Business plan should be created by keeping several important points in it.
Furthermore, the plan must include the analytical study of the business location, the investment, the license and registration, and the marketing and sales strategy.
Since, setting up the Eraser Making Business needs an ample of hard work, we have prepared a well-crafted guide to help you in succeeding.
So, let us begin now….
Eraser Making Business Plan
Your Eraser Making Business Plan must underline and cover all the important characteristics of the business. Adding on to the same, this business plan must also consist of the business strategy, the target, and the list of required raw materials, the target market, and marketing and sales strategy.
Why is the Eraser Making Business Plan Required??
Having an efficacious eraser making business plan will help you in raising funds for your business.
Funding for Eraser Making Business Plan
See Also: Master Shakes Franchise
- With regards to the funding for the business, you can invest either from your personal savings or take up a business loan from the financial institutions.
- Plus, before sanctioning your business loan, the bank will review your eraser business plan.
- Aside from seeking help from the banks, you can also take help from the angel investors.
Concerning to set up an Eraser Making Business, your business plan must consist of the following: –
- The executive summary must render an introduction to your business.
- Additionally, the executive summary in the eraser business plan must also explain the type of erasers you wish to make.
- Moreover, you must also explain the goal of your business.
In this segment, you must explain the type of eraser that you are planning to make: –
- Natural Eraser- These erasers are manufactured with petroleum products like: – styrene and ethylene.
- Synthetic Eraser- These erasers are manufactured with Latex.
Eraser Making Process
Intending to achieve great success in the Eraser Business, you must use good quality products.
See Also: HITACHI ATM Franchise
To make an eraser, you must procure some basic ingredients, which are mentioned given below: –
- Zinc oxide and Titanium oxide- These two are a variety of organic dyes which are used for colouring the erasers. In addition to the same, if you wish to make white erasers, you will require both zinc oxide and titanium oxide.
- Sulphur– Sulphur is required to vulcanize the erasers. Moreover, the erasers are strengthened with the help of heat and sulphur. These two are also used to make the eraser stronger, durable and resistant to heat.
- Organic Dyes- Organic dyes are used to colour the erasers.
- Vegetable Oil- The reason behind using vegetable oils in making erasers is that it makes the eraser soft along with giving it a good shape.
- Other Chemicals- While making the eraser, you will also need substances like Factice, Abrasive, and Litho-phone.
Required Products for Eraser Making Business Plan
Given below is a table showing the cost and the quantity of the products that are required for making the erasers: –
|The Product||Its Cost||The Quantity|
|Zinc oxide and Titanium oxide||Between ₹130 – ₹140||1 kg|
|Organic Dyes||₹1500||1 kg|
|Vegetable Oil||Between ₹141 – ₹160||1 kg|
|Other Chemicals||Between ₹95 – ₹200||1 kg|
Machinery and Equipment for Eraser Making Business
See Also: Mithaas Franchise
- If you wish to make erasers of all types, then you need to invest a good amount of money in purchasing automatic machines. Additionally, you can buy the eraser making machine easily through various online platforms.
- The cost of the eraser making machine will completely depend on the kind of machine that you wish to buy. Like if you plan to buy a machine with more eraser capacity, then it will cost you up to 10 lakhs, whereas if you buy a machine with low eraser making capacity, then it costs you a little cheaper.
Eraser Manufacturing Process
- Intending to make the erasers, you need first to decide if you want to make the eraser with natural rubber or with synthetic rubber.
- Now, if you choose to make the eraser with synthetic rubber, you will get the synthetic in the state of powder, whereas natural rubber is not available in the powdered form.
- To make the erasers, first, you must mix all the ingredients well.
- Then, melt the ingredients with the help of the machine.
- Check the consistency of the mixture as it becomes slightly soft after melting.
- With the help of the machine, you can now make erasers out of this mixture.
Packaging and Labelling
- Once the erasers are made, you need to pack them.
- You can pack the erasers either with polythene or with cardboard.
- Besides, you will also require cardboard boxes to pack the erasers.
Investment to set up the Eraser making Business
- The Eraser Making Business can be established in a average investment.
- In addition to this, the amount of investment that you can add to your eraser business plan can be between ₹5-15 lakhs.
- You will require about Rs. 5 to 8 lakhs to commence a small-scale eraser business at a small scale, and the cost or investment to start a medium-scale eraser business in India is Rs. 12 lakhs to 15 lakhs.
- Besides this, to initiate the eraser business on a small scale, you will require between ₹5-8 lakhs.
- And, if you wish to start with a big manufacturing unit, then it will cost you between ₹12-15 lakhs.
- Except for the manufacturing process, you need to set aside around ₹ 2,000 to ₹3,000 for packaging, sales, and marketing.
See Also: Punjabi Chaap Corner Franchise
Additional Essentials for Eraser Making Business
Given below are a few key points that you must keep in mind and are as stated: –
If you wish to set up an Eraser Business unit, then you must make an effective business plan.
Securing a Location
Securing a location is the most prime factor in setting up the business as the location is used to store the ingredients, machinery and other equipment’s. Intending to set up the eraser making business, you are required to acquire between 600 to 1000 square feet.Furthermore, while securing the location, you must keep in mind that the supply of water and electricity is sufficient in that area.
Requisite License and Registrations
To set up Business, you are required to attain the following: –
- You need to first register your business entity.
- In addition to this, if you are beginning to set up your business on a small-scale, then you are required to register as a Sole Proprietorship.
- Along with this, it is advisable to get business insurance also.
- Aside from this, apply for a business card.
- If you are planning to set up business on a larger scale, you are required to obtain a factory License.
- You are also required to secure a NOC from the State Pollution Control Board.
- You can also guard your brand name by getting Trademark.
Eraser Making Business Plan for Effective Marketing
Principally, an effective eraser making business plan for impactful marketing must include the following: –
In this section, you must repeat the name & details of all the types of erasers that you wish to make.
SeeAlso: Tea Trails Franchise
- In this section, you should display prices that you wish to offer to your consumers.
- Adding on, it is advisable to keep the prices reasonable and affordable in the initial phase of your Business.
- Besides this, keeping the prices affordable will result in attracting more customers.
- Also, you can keep offers for the retailers as then they can buy the erasers in bulk.
Here, the place refers to location of your business.
- The major part of sales & marketing is its promotion.
- Here, in your eraser making a business plan, you can make the strategy to attract customers.
- Moreover, you can also promote your business by doing mouth publicity.
See Also: House Of Cafe Franchise
The Bottom Line
If you are planning to set up an Eraser Making Business, then having an eraser business plan is a necessity. Furthermore, if you follow the eraser business plan explained in this blog, you will surely be able to set up as well as run your business smoothly.