New Business Idea: Earn money from this small scale business, you should also start this low investment business

Start Customized gift business and Earn money

Customized gifts make occasion memorable and beautiful. Giving a gift to someone near and dear in customized way make a moment surprising and loveable.

Nowadays customized gifts are in trend. Customized means, that you make or design any item according to customer needs.

There are many things that can be customized like- photo frames, key chains, mugs, pillows, bed sheets, birthday cards etc. There is a long list of things that you can customized.

Customized gift business is in trend, you can do it from home also. Now students and teenagers are too much curious about giving a special gift.

They want to give gift with attached photograph or different design they need according to the occasion. There is a big market of this business.

Many women entrepreneurs are doing this business from home and take big orders of birthday’s, marriage, engagements, and festivals and make the gifts according to the customer budget and design.

INVESTMENT

 In this business, investment is not very high. You can first start with one machinery and computer. Later you can move for more machinery that comes latest in the market.

Your investment will be around Rs. 50,000 to lakh in the starting, later you can increase your machinery according to your work.

Market research and potential

Customized business is in trend, but before you opt it as a business, find out what market is saying? Make your mind ready for business.

Focus your business plan. Check the market, how others in the business are working and making strategies to attract customer and make them convinced to choose the product for customization.

You have to be skilled, to know what customer want and in which rate. Sometimes customer is confused to select the item for customization. You have to be skilled to show different items according to her choice.

Check the price, sales strategy and marketing concepts, so that you will be aware of what is going in the market.

Visit the other business owner and check how they are dealing this business in profit and construct financial statement, including income and cash flow.

Check your potential, weather you can do the work with hardship. This business need devotion and long working time. Go for it.

RAW MATERIAL

You have to purchase needed raw material from the wholesale market, so that you can gain a margin. Collect all raw material from whole sale market that you need to customized like glassware, ceramics, wooden decoration, plain T-shirts etc.

You can also buy your few products that is needed to your work like brush, paint, colour plate etc.

MACHINERY

Different Machinery are needed for customized products. Check out the latest machines for graphic printing, thread machine. There are many related products in market. That you can go for. You also need a computer to find or make a design.

For t-shirt printing, check out DTF printing, which offers a durable and precise design application. It’s a great method to ensure your custom prints stand out on any color of fabric, ensuring that your designs pop.

PROCESS

Make-up your mind and start your business from home as if you go for a shop your investment should be high. So it’s preferable do it from home. Buy the machinery that is needed. Find out the customers and start your business.

LOCATION

Before starting a business find out the place and location that is good for your business. The place should be in-between the market area where related public can reach you easily and you can also approach.

Market area is best for this business, because their lot of people come in the market and it’s easy to reach you.Don’t go for big shop, small will work for you. Small shop rent is not high.

LICENSE AND REGISTRATION

As all business need registration as per government norms, but if you are doing work from home then you don’t need any registration.

There are many online portals by which collect information and provide license and registration. This is also the easy way that you can go for.

You need a GST registration of the company, PAN card, Identity proof, Address proof, Shop & Establishments Act Registration, Current bank account.

Another way of registration is you can hire a C.A for license and registration. He will ask you for few documents and in a week you license will be ready.

STAFF REQUIREMENT

Staff need according to your business, in starting you need 1 to 2 staff but as you increase your business to need more man power to complete the order in time.

MARKETING

Market your product in a manner that customer will attract with the presentation and style of your work. Because customer always wants unique and neat design. You have to market your product like only you can give the unique design in the suitable rates.

Before jump into the market get designed your company logo. The logo is related to your work. Logo is the symbol of your company and should be attractive and creative.

Second, make a tag line that is connected to the customer like “We design for your occasion”. This makes connection with the customer.

Third, make a social media page for your product; there you can mention your logo and tagline. Get connected with your customers by posting your different customized designs.

So that customer can know the work type you are doing and can approach you with the portal. You can make your page on Facebook, Instagram, LinkedIn and other portals you like to.

Forth, make your website, and show your product with details, so that customer should know the details of product and its price. Also mention your number, if client need to tell you regarding your product he can talk or message you.

You can also go for online add. This is very effective and connect with more customers. This is a paid advertising but connect you with more clients.

Get connected with online companies

There are many companies who wants to connect with small business and sell their products in their websites. They only take little margin in that. Companies like etsy, Amazon and many other websites. Boost up your business with different portals to get orders.

These websites will ask your bank account details and when they get the order, the company pass it to you and you have to complete the task by the given days.

Register for COD or Wallet Payment

Collaborate with any courier company who can deliver your product to the customer with COD (cash on delivery) or they can pay by credit or debit card.

COD is comfortable to the customer because customer always feel unsafe by paying before, so he prefers COD for his/her safety.

RISK

There is not much risk in the business. It is all depend how you bring customer according to your work. In India, people are much concerned about the gifts.

In marriages, birthdays, festivals, get-together, and different days, they use to celebrate by giving and taking.

Now customized gifts has taken place and people are now crazy about customized gifts for their near and dear ones.So, market is high, and you can grab the opportunity by giving best of yours.

Risk is, if you didn’t complete the order as asked by the customer, your payment will be stuck. So, give your best to the customer.

EARNING AND PROFIT

There is a good margin and profit in this work. It is also depending upon the order. Small order has less margin and in big order you get big margin.

So, earning and profits are depending upon the order you take. Marriage like program has big order and you can gain good profit.

SUMMERY

This a business of creative people, who loves to make different designs. The customized business is done in home also, and has a big market.

Nowadays everyone uses to give gift that is customized and looks little different. That is why this business is giving good response.

Get started if you find yourself suitable and have potential to complete the work on time. This is the right time to start your own small business. As in this pandemic time every business is online, people are turn over to customized gift by ordering from the home.