How To Start Staple Pin Manufacturing Business In India Cost, Profit, Business Plan, Requirements

How To Start Staple Pin Manufacturing Business In India Cost, Profit, Business Plan, Requirements | SkillsAndTech

Let’s face it, we’ve all been through this situation atleast one time, when we have these important documents to be turned in and we finally find the lost stapler but it just sinks your heart when you try to staple those papers together just to find out that the staple pins are missing.

That’s the exact moment we realise how those tiny and thin staple pins are important for a stapler to do its job and also make fancy analogies

Like, how the staple pins are important for a stapler to work that’s how important this staple pins manufacturing business is important for you to get you some good bucks and earn.

Though the staple pins business is an undervalued one it has a vast market potential because of its contributions to the Indian stationary and office supplies marketwhich is valued at ₹4000 crore

Staple pins are still an essential need in the printing and paper industry across various sectors of the economy irrespective of the divergence towards the screen based and digital learning and working platform emergence.

This is why you should take up this business and here’s how.

Market potential and uses

Staple pins are the pins used as an intermediary in the staplers to bunch papers, books, cards, paper bags, clothing etc together, which forces pins to fierce the paper and the ends are bent to hold them together separately.

The market potential for staple pins is vast because of the still existing paper based needs of the consumers in the educationalprinting and publishing and office sectors despite of the dependence on the digital technology

Further the market potential for staple pins can be defined and elaborated on the following basis:

On the basis of type of staple pins

  • Fine wire          : used in upholstery industry
  • Medium wire. : used for fixing heavier materials like wood
  • Heavy wire : used on tins and furniture framework

On the basis of uses

  • Used to staple papers
  • Cheques
  • Common known bills
  • Office documents
  • Sandwich bags
  • Album photos

On the basis of material of staple pins

  • Copper coated staples
  • White shining staples
  • Stainless steel staples

Licenses required

The licenses required to run this business are

Registration of Firm:

You may start the small to medium Business either a Proprietorship or Partnership Firm.

If you are starting this Business as One Person Company, then you have to register your firm as a proprietorship.

For Partnership operation, you have to register as a limited liability partnership (LLP) or Pvt. Ltd. Company with
Registrar of Companies (ROC).

GST Registration:

it is mandatory to get the GST number to run the business; you need to apply for the GST registration.

Trade License:

obtain trade license from local authorities

MSME/SSI Registration:

this MSME/SSI Registration will help you to get schemes and facility for the business offers by the state government

BIS certification:

BIS has mentioned the specific quality standard for Business. ISI specification for the

Trade Mark:

you can secure your brand with trademark registration

IEC code: 

IEC code is essential for the export of the product

Pollution Certificate:

apply for pollution certificate this business produces an offensive odour.

Employees 

state insurance which is an insurance scheme for workers.

ESI Registration:

Employees provident fund is compulsory for the business where more than 20 employees are working.

To comply with the above processes and registration, one might need any legal expert who would help in absolute legal compliance to meet industrial standards. 

Investment required

The investment required to set up a staple link making business is

ContentAmount
Fixed capital investment  ₹ 2.5 lakhs 
Working capital investment  ₹ 1 lakh 

Profits made

ContentAmount 
Profit₹ 1 lakh – ₹ 2 lakh per year
Rate of return 5%

Target consumers

The target consumers for your staple pins  manufacturing business are as follows:

  • Commercial and governmental offices: These make use of staple pins in the stapler for the purpose of bunching certain papers, documents and filing the paper work etc to ensure organisation and collectivity
  • Schools and colleges: The schools and colleges make use of staple pins as a part of stapler for the purpose of holding the project papers, assignments etc together to avoid any sort of misplacing.
  • Publishing and printing spaces: The publishers of student textbooks, readers, and the print spaces like that of magazines, newspapers, newsletters etc also require staple pins to staple the papers together and bunch them as a book to ensure they look appealing and readable.
  • Paper bag making industry: The paper bag making industry for the purpose of shopping, carrying etc also makes use of staple pins to staple the ends of the the paper bag holder ends so that the items in the bag are not displaced and paper bags prove effective as a carrier or a container
  • Garment and leather industry: Fee garments and leather industries also make use of staple pins to bunch together and pin the products made of them eg: clothes for toys and soft toys etc
  • Handcrafts: The staple pins are also used along with the stapler to put together the handcrafts made of craft paper like greeting cards etc and also to put together certain bags, toys, decorative items, books etc
  • Stationeries: The stationeries also stick up on the staple pins of various types to meet the required needs of the consumers depending on their purpose of making use of a stapler
  • Others: The staple pins are used by other hotels, restaurants, airports, private offices etc for the purpose of billing or just pulling the documents together

Area required

The area required to set up this staple pin making business is 50 sq ft – 200 sq ft

Raw materials required

The raw material required for the business are

  • Performed wire
  • Adhesive
  • Packing materials/boxes

Machinery required

The machinery required to set up the staple pins making business is

  • Automatic staple pin making machine with electrical
  • Double ended bench grinder cap 8° wheel
  • Common tools and measuring instruments
  • Spares and fixtures

Manpower required

The manpower required to set up this business is

  • 2 skilled workers
  • 3 unskilled workers

Moreover, ample training to these workers in terms of the following must also be provided with

  • Machinery usage
  • Equipment handling
  • Safety and precautions

Business model and growth

The business model of a staple pin making business can be defined using these four variants

  1. Value proposition: The value which this business is likely to provide to you is:
  • Low investment and space requirement and easy manufacturing process because of easily available raw materials
  • Wider target customer base
  1. Target consumers: The target consumers for this staple pin making businesses as discussed above are:
  • Commercial and governmental offices
  • Garment and leather industries
  • Schools and colleges
  • Publishing and printing spaces
  • Stationeries
  • Households
  • Toys and handcrafts making industries
  • Gift and novelties stores
  • Xerox spaces
  1. Competitor review: This business has a larger customer market to adhere to and the following are your major competitors in it
  • Sheetal stationary and xerox
  • Classic packs
  • Mercury enterprises
  • Impex international

Marketing strategy

The marketing strategy that can be implemented by your staple pin making business is

  • By providing bulk and cash discounts to the wholesale and retail stationeries
  • By tying-up with reputed stapler companies to increase the sales turnover etc

Growth

The staple pin manufacturing business has the potential and has witnessed the following growth prospects

  • The global  staple pin market is growing at the rate of 8%-10% every year because of its increasing applications through staplers
  • The unorganised sector is placed at ₹6000 crores or 30% of the total global stationary and office supplies market

Profit margin

 The staple pin manufacturing business is likely to yield you a profit margin of 20%-25%

  • Suggestions

While you staple away all your work-from-home documents we’ll help you gather some facts regarding this business opportunity

  • Firstly, the cost of manufacturing and the investment requirements for this business are low and the market to cater to is vast.
  • Secondly, sure, there’s a possibility of decline in the staple pin making business because of shift towards digitalisation but there are few niches like the governmental offices and schools which might still prefer this for privacy and cost effectiveness purposes respectively
  • Lastly, the profits from this business and the rising applications of staple pins are one opportunity to be taken advantage of
error: Content is protected !!