Business Idea: Starting a business? We’ve got a fantastic idea for you that could lead to some serious profits! You can kick off a cutlery manufacturing unit with just a small investment and potentially rake in a lot of cash each month. Plus, the Government of India’s Mudra Scheme can help you get started.
Cutlery set business idea
Cutlery is always in demand in households, and it’s also popular for parties, weddings, picnics, and restaurants. You can even branch out into making hand tools and essential farming equipment. There’s also a big opportunity for exporting your products. You can diversify your offerings beyond just home items.
Loan through the Mudra Scheme
To get into the cutlery business, you can start with metal products. You’ll need around 1.14 lakh rupees to launch this venture, and you can secure a loan through the Mudra Scheme. The total setup cost will be about 1.8 lakh rupees, which includes welding sets, buffing motors, drilling machines, and other necessary tools. Additionally, you’ll spend around 1.2 lakh rupees on raw materials. With this, you can produce around 40,000 cutlery items, 20,000 hand tools, and 20,000 agricultural tools each month.
Approx profit
Now, let’s talk about profits. According to government estimates, you could see sales of about 1.10 lakh rupees monthly from your finished products. Your monthly manufacturing costs would be around 91,800 rupees, leaving you with a profit of over 18,000 rupees each month. After paying off your loan and accounting for incentives, your net profit could exceed 14,400 rupees.
loan to start business
If you’re interested in applying for a loan to start your cutlery business, just head to any bank and fill out the application under the Pradhan Mantri Mudra Yojana.
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