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Tag: best business ideas

  • How to Sell a Business in Australia

    Selling your business can be a hard choice due to various reasons. Whether it is to protect you or for better fortune, it is important to understand the steps that you need to follow while you sell your business. In this article the steps that you need to follow if you are planning to sell your business in Australia. Keeping in mind that laws vary from place to place, the article adheres to the steps suggested by the Australian government in its self to avoid any kind of confusion and to present the article as objectively as possible.

    Taking the right decision
    Deciding means of Sale
    Analysing the Worth
    Finding the Right Buyer
    Getting through the sale
    Writing the contract
    Addressing the Employees
    Finalising Issues Related to Tax and Legality
    Transfering the Business
    FAQ

    Taking the right decision

    There might be various reasons why you sell your business. Whatever the case maybe it is important that you scrutinise all the options available before finalising that you have to sell the business.

    Having a clear idea will also help you engage with the buyer who will most probably ask the same question. Another reason why thinking enough before you choose to sell is that in many cases the sale can add additional financial responsibilities even when your intention was to get rid of it.

    Employee entitlements or tax amounts may continue to haunt you even after the sale. So, if you are going to sell think it through.

    Deciding means of Sale

    There are different ways through which you can sell your business. While you can do it on your own it is highly recommended that you do it with the help of a business broker. They are professionals in the field who will help you have a better understanding of all kinds of legal documents and government requirements.

    They also help you make the best out of the sale by advising you about the most profitable ways in which you can complete the transaction. However, it is extremely important to double-check the details of these professionals.

    Analysing the Worth

    One of the most important tasks, before you sell your business, is determining how much your business is worth. Giving the right pricing is a very determining factor. You can do this estimation either by doing a comparison with similar businesses in the market or you can look at the amount for which businesses similar to yours were sold.

    This process will give you an idea about the possible market conditions. Another way is by calculating the differences that arise between assets and liabilities. It is important to consider tangible and intangible assets like buildings and brand recognition respectively. Or else you may also use the net profit of your business to finalise the value of your firm.

    Finding the Right Buyer

    There are multiple ways in which you can find buyers for your business. As mentioned earlier you can take the help of business brokers or agents to help you connect with a buyer who will give you the rightful price. Here too, Lloyds brokers will be an excellent guide and support to find a buyer in Australia.

    You can also exploit your existing networks of friends employees or family to find out people who will be willing to buy your business. As technology gets revolutionised you can use different media to give publicity to the sale through advertisements.

    You can always use the help of the customers of your business to find the right buyer. Whenever you try to convey the message of sale, make sure that you are clear about your requirements and other relevant information about which the buyer should be aware.

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    Getting through the sale

    The part where you negotiate with your prospective buyer is a place where you need to be extremely careful, honest and accurate. During the negotiation make sure that there is a proper agreement at least on words on things like sale price, settlement period, the handover training for the buyer if necessary, demand of advance to be paid et cetera.

    Writing the contract

    The preparation of your contract is normally done by an intermediary for you. However, you should be aware of the requirements and laws that you need to follow as they vary from state to state. So make sure that you go through the rules and regulations pertaining to the state or territory in which the business is situated.

    You will have the help of a solicitor to crosscheck the contract for you. They will help you figure out any kind of discrepancies and will also ensure that every detail of the sale is clearly mentioned in the contract. These include assets like property, equipment, stocks et cetera and also the liabilities inclusive of creditors.

    If there are any other special kinds of agreements like the ones where you are restricted from starting a business in the same field or anything of the same kind, make sure that you are aware of all these and that they are properly mentioned in the contract. Be watchful about the things that are mentioned regarding the future of the business and if they have any connection with you.

    Addressing the Employees

    Employees are the most important driving force of any business. Being the foundation they are the ones who are the most affected when a careless sale happens. Hence it is important that you communicate with your own employees about the things that are going to happen and inform them about the decisions taken with regard to employee positions.

    You are obliged to give them prior notice or provide payment in lieu of notice. If at all the employees are getting transferred along with your business make sure that you provide all the necessary details about the employees to the new business owner.

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    You need to seriously consider if CGT or Capital Gains Tax and GST or Goods and Services Tax apply to your business sale. The procedure you need to follow completely depends on whether you are registered for GST or CGT.

    Transferring the Business

    When you are transferring your business after the sale you need to make sure that you transfer all permits, licenses, and leases. Do not forget to cancel you are ABN. You can either transfer or cancel your business name as well.

    Finalising things like activity statements, installment notices and tax returns are also an important part of transferring your business. Remember that until the transferring of the business to the new owner is complete you will be the one who is responsible for any kind of agreements and obligations which are a part of your business.

    In Australia, it can take up to 12 months to complete the process of license transfer which means you need to plan well ahead.

    FAQ

    What are the three ways to value a company?

    There are three main methods used to value a company is, DCF (Discounted Cash Flow analysis), comparable company analysis, and precedent transactions.

    Do I have to pay tax if I sell my business?

    Yes, you may have to pay capital gains tax if you sell your business.

  • How to Start a Dropshipping Business in India Using AliExpress (10 Easy Steps)

    Do you want to start your own E-commerce business in India?

    Look no further we’ll help you right away

    Gone is the time when building an e-commerce business in India was just a dream, well clear all your doubts regarding starting your own e-commerce business.
    When originating an e-commerce business, most individuals opt for the dropshipping model of business. Why is that so?

    Most entrepreneurs recommend dropshipping business in India, because there are fewer risks and fewer funds required to start the business. In this guide will explain you to start your own dropshipping business in India with help of aliexpress.

    What is Dropshipping?
    AliExpress Dropshipping in India
    Benefits of AliExpress Dropshipping
    10 Easy Steps to Get You Started With AliExpress Dropshipping Business in India
    Dropshipping Business – FAQs

    What is Dropshipping?

    Dropshipping is a business model in which the retailer does not require to
    have a stock of the products which they are selling, instead, they give the order and shipment details to the wholesalers, and then the wholesaler will directly forward the product to the customer. The benefit of this is that the retailer does not have to store the stock of products.

    Now let us look at which dropshipping service is most suitable for you!

    The most dropshipping service recommended by most e-commerce startups is AliExpress dropshipping service.

    Aliexpress dropshipping india
    Dropshiping

    AliExpress Dropshipping in India

    AliExpress Dropshipping service is a service that allows you to sell a variety of products on your online store, With the help of AliExpress, you don’t require to maintain a warehouse.

    You can list the products of AliExpress on your website and when a customer orders a product from your website, later AliExpress manages the rest.
    AliExpress accepts the order from you and then ships the order directly to your customer from their warehouse.

    Aliexpress dropshipping india
    AliExpress Dropshipping

    Dropshipping with AliExpress is the most profitable way to start your entrepreneurship venture.

    Benefits of AliExpress Dropshipping

    1. You can choose several products from your dropshipping store.
    2. The burden of maintaining a warehouse is eliminated.
    3. You don’t require a hefty amount to commence the business.
    4. Retailers can price their products as per their preferences.
    5. There is fewer risk involved in this Business.

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    10 Easy Steps to Get You Started With AliExpress Dropshipping Business in India

    Step 1:

    First of all, you need to visit the AliDropship site to commence with.

    Step 2:

    After that, you can buy the plugin or let AliExpress build a store for you.

    Step 3:

    You have to choose a niche of products that you are interested to sell on your site, after that you have to select the products you need to dropship.

    Step 4:

    Now you can add the products to your list which you have chosen to resell (While choosing a product, analyze the product thoroughly).

    Step 5:

    Now add the product descriptions accurately on every product your Dropshipping (description should be informative and attractive).

    Step 6:

    Price the products efficiently and create a payment gateway so that customers can  purchase the products with credit cards or by other non-cash payment methods

    Step 7:

    When a customer places an order inform the customer about the shipping cost and time and help them track their orders effortlessly with the help of an tracking application.

    Step 8:

    Advertise your product with the help of different digital marketing agencies.

    Step 9:

    You must need to prepare a spreadsheet of the products that you are selling with the price quoted of both you and AliExpress.

    Step 10:

    The final thing you need to learn is to manage your site regularly and efficiently.

    Conclusion

    Starting and Building an e-commerce business in India is not easy, but success does not come easy, You have to be patient and hardworking in this business full of contenders. With a well-planned idea, you can accomplish your business plan successfully. You can start your own Dropshipping business in India with the help of AliExpress dropshipping India.

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    Dropshipping Business – FAQs

    How to start a dropshipping business in India?

    • Choose a niche
    • Perform competitor product research
    • Find a reputable dropshipping supplier
    • Build your online store
    • Market your dropshipping business
    • Analyze and improve your store

    Yes, Dropshipping is legal in India.

    Should I form an LLC for dropshipping?

    Yes, you do need an LLC for your dropshipping business.

    How much do I need to invest to start dropshipping?

    Though it’s hard to predict the exact costs for any individual business, there are a few items every dropshipping business will need to spend money on in order to get started.

    Is dropshipping a legitimate business?

    Dropshipping is merely a fulfillment model, one used by many global retailers, and is perfectly legal. Like with any business, satisfying customer expectations and building a brand that resonates with the right audience is still key to long-term success.

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  • The lucrative Business Model of Mobile Gaming Industry [Case Study]

    ‌The Mobile gaming industry has grown rapidly since last year, 2020. Developing a mobile game is much more accessible and requires less budget as compared to PC or console games.

    According to statistics, the Mobile gaming industry has grown up to $50 billion. In fact, the revenue through gaming is much higher than those of Hollywood. Mobile gaming is beating the other platforms of gaming with its tremendous responses and revenue. Based on the revenue, the mobile gaming industry is reaching its peak in a very lucrative manner and growing rapidly.

    ‌The business model for the mobile gaming industry is very crucial. However, the developers mainly concentrate on the experience of players and optimal authentication. Although managing monetization and experience of the players is quite a handy task and needs proper balancing.

    Half of the revenue that comes to the mobile gaming industry is from China, Korea, Japan along with Europe and North America Contributing $6 billion to $7 billion, respectively.

    Certain games cost up to $50,000 – $2 million, based on the level of detailing for the UX and great touchscreen experience for the players.

    ‌‌Mobile game developers mainly focus on some key features like direct or indirect revenue assortment, based on the game type.

    Now Lets look at The lucrative Business Model of Mobile Gaming Industry

    Mobile Gaming Popular Monetization Models: How to make money?
    Mobile Gaming App Monetization: Variety of Revenue models
    Democratization of Gaming
    Assorted strategies for the monetization of the mobile game app
    FAQ

    ‌‌The mobile gaming industry has risen and gained popularity through the increasing demands of mobile devices. It has grown significantly and mobile games are counted among the most prominent apps.

    Besides, the mobile gaming industry plays a major role in the app revenue for Google Play Store as well as Apple iOS App Store. With each passing year, the mobile gaming industry is growing with its rapid speed.

    ‌‌As the global gaming market is aimed to reach up to $115 billion by the year, 2018 among which $50 billion of revenue came from the mobile gaming industry.

    ‌‌The question arises, How do they make money? Well, the answer to this question is, through game monetization. These industries tend to develop products that would bring considerable profit to the developers and owner of the copyright. Besides, several business models could bring a good amount of profit to the industry.

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    Mobile Gaming App Monetization: Variety of Revenue models

    ‌‌The mobile gaming industry has a rich history around and it has grown remarkably. Tetris (prehistoric version) was the very first known mobile game. It was played on a Hagenuk MT-2000 mobile phone in 1994.

    However, mobile gaming increased with the launch of Apple’s app store by the year 2007. Several games were introduced which showed major progress for this industry. Games like Angry birds, 2009 and candy crush, 2012 were among the most popular games.

    ‌‌Nowadays, technology has increased so prominently that mobile gaming has been developed more realistic and with great abilities. Also, several other facilities such as live streaming, cross-device synchronisation got acquainted promptly. Several other factors that played in the development and growth of the gaming industry is the growth of social media among the people.

    According to a 2018 report, games like candy crush saga and Fortnite earned more than a million dollars of revenue through iPhone alone.

    Candy Crush Revenue
    Candy Crush Revenue

    ‌‌Therefore, mobile gaming was fell into two separate sub-categories,

    1. Free Mobile Games
    2. Paid Mobile Games

    These monetization models got more developed and complex. The growth of the mobile gaming industry was significant and influenced several creators and developers to fold more profit through gaming.

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    Democratization of Gaming

    ‌‌For Apple or Android users, there are approximately 800,000+ games to access. This could be calculated as the total mobile apps, 30-40% are games.

    There is literally democratization of gameplay among the consumers and distribution among the creators. With the development of mobile devices, games are also being developed for a better experience of gameplay. Also, developers have provided several compelling apps together with the features of devices to gain a better service of the game.

    ‌‌According to the facts, Mobile gaming participates in up to 75-90% of the revenue for iOS App Store and Google Play Store. While calculating gamers around the globe, there are billions of them. The Apple App Store and Google Play Store runs technically by the diversification of games.

    Assorted strategies for the monetization of the mobile game app

    ‌‌There are several methods to monetize your mobile game app, that includes:

    Freemium

    • Free to download and play,
    • Offers microtransactions, in-game purchasing and,
    • Examples- Candy Crush Soda Saga, Clash Royale and Fortnight Battle Royal

    Microtransactions

    Microtransactions
    Microtransactions
    • Permit for additional virtual goods purchasing
    • Various in-game purchasing like increasing players power, cosmetics or speed up within the game and,
    • Examples- roleplaying game as player purchasing game.

    Microtransaction is mainly for those devoted players who always search for more developed goods. In-game purchasing is usable otherwise. Microtransaction is a crucial step for mobile game apps and it needs to develop sincerely and promptly. Designing Microtransaction is very necessary to balance the competition among the players and make them feel needy for the purchasing to function in the game.

    FAQ

    How do microtransactions work?

    A microtransaction is a business model where users can purchase virtual items for small amounts of money. Microtransactions often appear in free-to-play games.

    How big is the mobile gaming industry?

    In 2020, the mobile gaming content market in North America was worth an estimated 25.2 billion U.S. dollars.

    What percentage of gamers are mobile gamers?

    62% of people are mobile gamers and 78% of gamers are Android users.

    Conclusion

    With the rapid growth of the mobile gaming industry, it’s no doubt that it would lead the gaming industry soon. During the pandemic, more people have become reliant on mobile devices for gaming. It is growing with great outcomes and revenue. The statistics for the mobile gaming industry has also shown great results up to $50 billion. Therefore, it’s likely to say that the mobile gaming industry is rising to its peak with some advanced features in hand.

  • How to Research a Franchise

    If you have an independent venture that can be effectively imitated, at that point diversifying might be probably the most ideal approach to extend it at a quick movement. Furthermore, if you tackle it the correct way, you can positively siphon up your productivity. Through this article we will tell you how to research a franchise effectively.

    Profitable Franchise to apply for:

    Franchise Application Category
    7th Heaven Apply Here Bakery & Cafe
    Let’s Transform Salon Apply Here Beauty & Wellness
    Meatwale Apply Here Food & Services
    Frozen Bottle Apply Here Beverages & Cafe

    ‌‌Here are some tips to help you through the change:

    1. ‌‌Get Coordinated

    Thoroughly consider the cycle of how your business functions. Franchisees will require accurate subtleties and rules to get their organizations ready for action. This cycle takes some time, however, it’s justified, despite all the trouble — regardless of whether you choose not to dispatch the establishment alternative, this will even now, at last, assist your business run all the more easily. From showcasing to signage to business cards to staff preparing, everything must be executed along these lines. Build up an activity manual to give franchisees a speedy method to reference strategies and best practices and make an endorsement cycle so you approve significant choices.

    Get Co-ordinated 

    2. ‌‌Recruit a Lawyer

    Getting master exhortation is truly urgent during the diversifying cycle. First of all, you’ll need to round out a Franchise Disclosure Document. It has an unmistakable organization you need to follow, and it’s essential to have a legal advisor walk you through this cycle. You’ll have to set evaluating, make an establishment understanding, and decide licensed innovation assurance. (Notwithstanding meeting with a lawyer, the International Franchise Association additionally has some superb assets.)

    Recruit a Lawyer 

    ‌‌3. Be Precise

    You should be very specific with regards to picking franchisees. It’s anything but difficult to track down individuals with the capital, however, would they say they are the opportune individuals? Do they have the correct foundation to maintain a business? This is somebody who will speak to you, so it should be a solid match. All things considered, you are in this to ensure and develop your image. Set up a talking cycle and understand what your major issues are.

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    4. Construct and Secure your Image

    As a franchisor, your most significant resource is your image; secure it no matter what. Your image speaks to your way of life, your convictions, and your disposition toward your clients. At the point when your establishment, you are enabling new individuals to speak to your image. This is perhaps the greatest danger of diversifying. Clear rules should be set up for the utilization of the entirety of the brand resources.‌‌

    5. Know what you Want

    You need to be certain that you are sending one clear message from one clear source, and that message is reliable all through the association. No detail is excessively little. This can appear to be domineering, however never let anybody utilize your image resources in any capacity, regardless of how little, without your earlier endorsement. Screen everything, give close consideration to recordings and pictures, and screen all online media sources in an ordinary and nitty-gritty style.

    ‌‌6. Pick the Right Location

    What areas bode well for your business? Where do you have brand acknowledgment as of now? Consider keeping your initial not many areas near and dear, yet far enough away that it doesn’t hurt deals at your underlying area. That way, you can oversee coordination without any problem. Remember you’ll need to visit these areas in person every once in a while, so pick areas with simple admittance to an air terminal.

    ‌‌7. Find a Mentor

    There will consistently be individuals who are happy to offer you guidance — you simply need to search them out.

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    8. Develop a Skill and be Consistent

    Consistent is the key of development . Does it bode well to develop a global level? Or then again would it be a good idea for you to adhere to a statewide arrangement?

    ‌‌9. Backing your Franchisees

    From the outset, you’ll need some acknowledgment with your franchisees, just as heaps of time on the web and utilizing the telephone.

    Know How to Franchise - Startup Talky
    Back your franchisee 

    Do everything you can to support them by commending triumphs and achievements. What’s more, to wrap things up, set up a route for franchisees to speak with each other, as well.

    That’s all for now! Best of Luck!

  • Nestle, the Story Behind 150 Years of Food Industry dominance

    Nestle, today is the world’s leading nutrition, health and wellness company which has long been considered a beacon of commercial stability. It has been ruling the food industry from the last 150 years. Nestle is a transnational food and drink company headquartered in Vevey, Switzerland being the largest food company in the world.

    Nestle’s products include all the food items like baby food, medical food, bottled water, breakfast cereals, coffee and tea, confectionery, dairy products, ice cream, frozen food, pet foods, and snacks. 29 of Nestle’s brands have annual sales of over $1 billion, including Nespresso, Nescafe, Kit Kat, Smarties, Nesquik, Stouffer’s, Vittel, and Maggi.

    Many of the efficient food and beverage companies are often considered as reliable, especially in times of surprise and financial unpredictability, times that 2016 frequently reproduced.

    In 2015, it is thought that the company sold $90 billion worth of goods across almost 200 countries. Some estimate that out of every cup of coffee drunk in the world, Nestle’s iconic Nescafe can claim ownership to making one in five.

    Nestle History
    Growth of Nestle
    Nestle Products
    The Future Of Nestle
    Nestle FAQs

    Nestle History

    Nestle was founded in 1905 by a merger of the Anglo-Swiss Milk Company, established in 1866 by brothers George and Charles Page, and Farine Lactee Henri Nestle, founded by Henri Nestle. The company grew significantly during the First World War and again in the Second World War, expanding its offerings beyond its early condensed milk and infant formula products.

    Word of Nestle’s success spreads rapidly, and through determination, commitment, and a pioneering spirit he builds a thriving business. His innovation is the model for all those that follow throughout Nestle’s 150 years, which show the company’s skill in meeting and anticipating consumers’ changing needs.

    Currently, the world consumes more than one billion servings of Nestle products per day. The company operates in around more than 197 countries and employs almost 340,000 people. Nestle still embraces its values, the famous Nest logo, and its headquarters in the city.

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    Growth of Nestle

    Nestle’s story had begun in 1866, with the foundation of the Anglo-Swiss Condensed Milk Company, which launched Europe’s first condensed milk. This was another important product in the era which was before refrigeration when fresh milk used to spoil easily in transit. In 1905, the Anglo-Swiss merged with Nestle’s company to form the Nestle & Anglo-Swiss Milk Company.

    The company’s early success was due to its investment in science-based products and modern factories were efficient. Railways and steamships gave Nestle & Anglo-Swiss access to new urban markets worldwide, and it made savvy use of modern advertising media like newspapers, magazines, billboards to educate people on product benefits. Namely, nutrition, quality, safety, affordability, and taste.

    One other benefit that Nestle products have always offered is convenience and the sense of reliance too, and this became especially important after World War 2, when more women entered the workplace, and people demanded foods that were easy to prepare.

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    By the period of 1938, people enjoyed Nescafe and started their day with it, the world’s first great-tasting instant coffee, simply by adding hot water. By 1948, they could enjoy a product called Nesquik, a cocoa-based powder that dissolves easily in cold milk. And by 1957, they could finish the day with Maggi pasta ‘ready meals’ in cans, which were hugely successful.

    Nestle products
    Nestle products

    Nestle products

    Even before Nestle, Cans were in the market, but nutritious meals in cans weren’t, and this quickly became a step of growth segment for Nestle. Such food product had a long life, they were easy to heat then eat, and one could even enjoy them cold. Cans were also simple to transport so that anyone could consume them on a camping trip, for instance, along with the cup of Nescafe.

    The time raced to the 1960s, one could even enjoy the convenience of Nestle frozen foods and ice creams, which the company entered as domestic fridges and freezers grew in popularity. In 1986 Nestle went one step further by creating its own breakthrough Nespresso system, which evolved the conventional way people experienced premium coffee.

    Nespresso is another Nestle innovation that enhances people’s quality of life, every day, every place. There’s a special emotion associated strongly with chocolate, which brings a smile on the people’s faces. Nestle first entered this business in 1904 when it took on export sales for Peter & Kohler, later adding brands such as Cailler and KitKat.

    Nestle Food Industry

    The future of Nestle

    Now Nestle business has expanded to beverages, waters, dairy, confectionery, pet care, even skincare. In 2011, it extended its leadership in Nutrition, Health and Wellness by creating Nestle Health Science, to develop nutritional healthcare products that target optimal brain health.

    Such innovations will help Nestle address the global challenges of malnutrition, growing and aging populations, and obesity. This same passion for nutrition triggers a commitment to improve products by reducing salt, sugar and saturated fats, and fortify them with vitamins, minerals, vegetables, and whole grains.

    Wrap Up

    Nestle 150 years

    As Nestle’ celebrates 150 years, the company has stuck to its conviction that to prosper in the long-term, it must create value for shareholders, the communities where it operates, and wider society. The tag line of Good Food, Good Life stands true for the consumers.

    Nestle FAQs

    When was Nestle founded?

    Nestle was founded in 1866. Nestle was founded by a merger of the Anglo-Swiss Milk Company and Farine Lactee Henri Nestle.

    Who Founded Nestle ?

    Nestle was formed by a merge of the Anglo-Swiss Milk Company (founded by brothers George and Charles Page) and Farine Lactee Henri Nestle (founded by Henri Nestle).

    What products are Nestle?

    Nestle products include Beverages, Cereals, Chocolate, confectionery, baked goods, Frozen food, Healthcare nutrition, Instant foods, baby food, medical food, bottled water, breakfast cereals, coffee, and tea, dairy products, ice cream, pet foods, snacks, and a lot more.

    What are Nestle subsidiaries?

    Nespresso, Nescafe, Kit Kat, Smarties, Nesquik, Stouffer’s, Garden Gourmet, Gerber Products Company, Vittel, and Maggi are some of the Nestle subsidiaries.

  • Manufacturing Startup Ideas In 2021

    For citizens, manufacturing has always been a profitable sector. It needs rational investment in the beginning, but once it is developed and founded, it earns a steady income. However, the option of a successful production concept is vital to the company’s performance. There are different business concepts in manufacturing worldwide where you can begin. In this article, we’d offer some top and best ideas for manufacturing companies that can start with low investment and generate high profits.

    15 Small Scale Manufacturing Business Ideas with Low Investment
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    While You Prepare For The Beginning Of Your New Business In The Industry, You Must Take A Look On The Top 15 Business Ideas For Manufacturing:

    1. Manufacturing Garments
    2. Essential Oils Manufacturing Startup
    3. Manufacturing Bee Honey
    4. Notebooks, Textbooks, Paper Manufacturing
    5. Manufacturing Smart Phone Accessories
    6. Wax Candles Manufacturing
    7. Manufacturing Disposable Plastic Cutlery
    8. Natural Beauty Products Manufacturing Unit
    9. Rough Book Manufacturing Unit
    10. Manufacturing Agricultural Fertilizers
    Motivation To Get Started
    FAQ’s
    Conclusion

    1. Manufacturing Garments

    Manufacturing Garments
    Manufacturing Garments

    The recognition of style has led to high demand for clothing.  Also, the demand never ends. Manufacturing is very productive. The price can start as low as 1 lakh and go to numerous different crores. This is one of the smartest startups with low investment and large profits.

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    2. Essential Oils Manufacturing Startup

    manufacturing essential oil
    Manufacturing essential oil

    Oil is used as cooking’s key value. It is also used to make shower soaps, humidifiers, and hair-cleansing products, hair-tonics, detergents, etc. Oils even have a good purpose in medicines.  This business should be initiated in an area in which the raw material is easily obtained.

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    3. Manufacturing Bee Honey

    Manufacturing bee honey
    Manufacturing Bee Honey

    The honey manufacturing business is linked to bee harvesting. It is one of the easiest manufacturing businesses to start with at a low cost. Because of its cure properties, honey is in great demand. The required investment is Rs.25,000.  This is considered a good investment a company can do under 1 lakh.

    4. Notebooks, Textbooks, Paper Manufacturing

    Manufacturing Notebooks Textbooks Paper

    Paper is used in all industries. High investment is not required for the manufacturing of paper. The required investment is 1 to 2 lakh based on paper size, volume, and quality, machinery, and space required. Education these days is becoming expensive. That could therefore turn out to be India’s most profitable startup.

    5. Manufacturing Smart Phone Accessories

    Manufacturing Smart phone accessories
    Manufacturing Smart Phone Accessories

    Everyone uses smartphones. Their sales in past months have significantly improved and the market for their accessories has increased. Different accessories are used to decorate and secure the smartphone. This is a smart strategy with significant opportunities for progress. The investment varies between INR 50,000 and 2 lakh.

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    6. Wax Candles Manufacturing

    Manufacturing wax candles
    Manufacturing Wax Candle

    During festival seasons, beautiful candles with a nice scent are always demanded, making this a very good idea for home-based businesses. There is not much space needed in this sector. The startup can be set up with a single room location.  Just Rs. 25,000 to 50,000 is the cost for  Wax, perfume, molds, dye, etc. are raw materials.

    7. Manufacturing Disposable Plastic Cutlery

    Manufacturing disposable plastic cutlery
    Manufacturing disposable plastic cutlery

    Disposable plates, glasses, and cups are gaining in business fields because of their disability. The organization will start with basic machinery and very low investment. Small production machines can be needed for this. This may be one of two Lakhs best production firms.

    8. Natural Beauty Products Manufacturing Unit

    Manufacturing Beauty Products
    Manufacturing Beauty Products

    There has lately been a major rise in the market for natural and herbal beauty products. People like their skin to be chemical-free and herbal.  The goods must be herbal and their consistency is outstanding without the use of toxic chemicals. You will create a good client base and gain big profits in a short period.

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    9. Rough Book Manufacturing Unit

    rough book manufacturing
    Rough Book manufacturing

    The need for exercise books will never be reduced because this is the first basic research necessity. The creation of rough books is very easy and takes little machinery. It is generally used by students at schools, in offices, etc.

    10. Manufacturing Agricultural Fertilizers

    manufacturing agricultural fertilizer
    manufacturing agricultural fertilizer 

    India is primarily a nation focused on agriculture. Farmers need large-scale fertilizers to boost productivity and protect their crops from pests. You can start with the fertilizer manufacturing unit if you have strong knowledge of chemicals and fertilizers. This organization has tremendous potential for expansion.

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    Motivation To Get Started

    “Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell”  — Elon Musk.

    ” If you don’t find a way to make money while you sleep, then you will work until you die” — Warren Buffet “

    Successful people don’t just become successful over night, what most people see as glance wealth, a great career. But all these success is as a result of hard work, strong purpose and hustle over time. Now is the time to start working more, only focusing on the most important things, and making much better products.

    FAQ’s

    What is the best manufacturing business to start?

    This is the list of some profitable manufacturing startup ideas that you can start with low investment.

    • Manufacturing Garments
    • Essential Oils Manufacturing Startup
    • Manufacturing Bee Honey
    • Notebooks, Textbooks, Paper Manufacturing
    • Manufacturing Smart Phone Accessories
    • Wax Candles Manufacturing
    • Manufacturing Disposable Plastic Cutlery
    • Natural Beauty Products Manufacturing Unit
    • Rough Book Manufacturing Unit
    • Manufacturing Agricultural Fertilizers

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    Which manufacturing business is most profitable?

    List of Best and Most Profitable Manufacturing Business Ideas in India

    • Furniture Business – Low-cost manufacturing business idea.
    • Garment Manufacturing unit.
    • Producing leather-related items Business.
    • Manufacturing of school/office stationery items – Low-cost manufacturing business.
    • Automobile Parts manufacturing – High profits manufacturing business.

    What is the easiest thing to manufacture?

    This is the list of some of the easiest manufacturing startup ideas are-

    • carpentry. Take a piece of wood and just give it any nice shape.
    • soap
    • ceramic and pottery
    • perfumes
    • fireworks
    • simple flutes and simple instruments. (for example for little kids)
    • glue
    • mop

    What are the requirements in starting a manufacturing business?

    Below are some of the most important factors you should consider before starting a manufacturing business.

    • Demand for your product.
    • Setup costs.
    • Competition from other manufacturers.
    • Previous experience, knowledge, and qualifications.
    • Finance available and finance options.
    • Business location.
    • Rules and regulations.

    What business can I start with INR 10000?

    Here is a List of Businesses You Can Start Within 10000 Rupees

    • Travel Agency.
    • Start a blog.
    • Mobile Repair Shop.
    • Mobile Recharge Reseller.
    • Candle Making.
    • Food Stall.
    • Affiliate Marketing.
    • Tuition.

    Conclusion

    Any business that uses components, parts or raw materials to make a finished good is a good business and termed as manufacturing business. After manufacturing ,these manufactured goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product. You can also start a B2B manufacturing business and help other businesses to grow.

    There are a variety of exciting manufacturing startup ideas you can start with if you have the financial capital. Pay heed to the roots of research startups, tax planning and legal and fiscal guidance. Then proceed with open eyes and high expectations.

  • Digital Marketing Strategies for Real Estate agents

    Real estate is one of the most competitive markets on the planet. One of the biggest challenges of being a real estate agent is to be found by homebuyers. You may be new to the industry or you may have some experience as an agent, and finally want to establish your presence online.

    But as a real estate professional, you may not have time to test your online strategy as well as manage your business. When you focus on your business, you might ignore your online presence or it might not be suitable to your needs.

    So what can be done?

    Let’s face it. After 2020, this industry has become even more tighter and marketing strategies that were useful just a few years ago might be on shaky ground now.

    However, it’s time to break the cycle. The first and foremost thing you need to balance your time between your business and your online presence is a solid marketing plan. A plan that you can execute every single week and within minutes, will keep you from falling back into the vicious cycle.

    This step-by-step marketing guide will help you generate leads, turn them into paying clients and help people buy or sell homes.

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    Strategies for successful marketing

    Step 1: Who’s your audience?

    The first step of execution is to find out Who your target audience is. Before going forward with any marketing plan, you need to segment your audience. For instance, you may come across buyers who are willing to buy a space right now, or some who might be buying a home in a few months.

    The key here is to provide information to buyers and sellers that is relevant to their stage in the real estate process. If your marketing message tries to appeal to everyone in your database, then it is likely that your message will be ignored.

    Step 2: Which platforms should you use?

    The short answer is, everywhere. Omni platform marketing works wonders for people who want to build a marketing strategy from ground-up.

    After you have figured out your audience, it is time to communicate your ideas with them. So, the more platforms you use to out up your message, the more leads you will generate.

    However, if even you market the same thing, it is important to tailor your message for each social platform. For example: A great twitter post might not be as effective on Facebook or LinkedIn.

    So how do you make your content relevant on Facebook? You will want to use hashtags and tagging brands to increase engagement. On LinkedIn, you might want to include stats and data and use a research-focused approach.

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    Step 3: Create a real estate website

    If you are serious about your real estate business, then this should be a no-brainer. The centerpiece of your marketing strategy should be your website. How else will people find you, after all?

    A good looking website will show your customers that you are a professional as well as help you rank better for local search terms. Most people will visit your site to see home listings either for buying or selling. Make sure that your website is up to date with photos and information, like the address, nearby locations, transport details etc.

    This section must be easy to browse and should load quickly. Overall your site must be responsive and as speedy as possible. The faster your website loads, the likely you are to lose clients who are impatient to wait for the information. Having a minimalistic website with clear site navigation will be a big help in keeping users on your website.

    Finally, it is important that you provide your contact information and in such a way that it can be found within mere seconds. You might lose valuable business if your customer decides to leave your website because they couldn’t find your information.

    Step 4: Establish an online presence

    After you set up your website, the next step is to establish your online presence and one way of getting your name “out there” is being active online.

    The key to great marketing is, momentum. The ultimate marketing plan for a real estate agent includes weekly content and marketing campaigns for each life cycle in the real estate journey like, coming soon, just listed, just sold etc.

    For instance, before you even list a space or house for sale, you can create a buzz amongst your clients with a “coming soon” campaign. If you are lucky then you might even get the home sold before listing, and can start a conversation with potential buyers as to what they are looking for.

    Another way to engage with your audience is to establish yourself locally, by commenting on blog posts, forums and groups about real estate. Include a short write-up about your services on your comments and you might convert a simple reader to a potential customer. However, avoid spamming links to your website or anything that is not relevant to the conversation. You want to be insightful and helpful, and not annoying while you conduct your business online.

    Step 5: Nurture leads through E-mail Marketing

    This final step will take your casual customer base of FB, Twitter or even your website and convert them into paying clients. That’s the end result a real estate agent should be looking for and it only takes 5 steps to get here.

    The best way to build an email-list is to ask permission from your clients once they sign up on your website. Having pre-written automated emails that go out when a lead does something specific will help you tremendously. As email-marketing has very high open rates, you can use it to engage and re-engage your leads.

    Welcome emails – Welcome your customer once they sign up. You might lead them up to your website and offer them exclusive first-time deals to instantly nurture your relationship

    Information request emails – Did a house that meets your client criteria pop up on the market? Then send them an email attached with pictures. You can send multiple people the same email, and with email automation you can personalize it to each buyer individually without spending anytime.

    Re-engagement – If someone inquired about a house that they are willing to buy but aren’t responding to your calls. You can send them an email exploring their options to see if they are still interested in buying.

    Email newsletters are another great way to keep your leads informed about the market. Tips for buying and selling, new listings in the area, or links to your blog posts and videos will allow you to send the right information to the right person.

    The Bottom Line

    Each marketing strategy is personalized. It all starts with knowing who your audience is, engaging with them and finally converting them into paying clients. Optimizing your website and having a marketing strategy every week will help you not only minimize the time you spend online but will let you focus more on your business.

    A poorly thought out marketing plan could be costly. No matter what strategy you choose to use, never expect a quick return. As the age old adage goes, Slow and steady wins the race.”

    If you use the proven, real estate marketing strategies in this article, you will get more leads, close more deals and your entire approach will be cost-effective.

  • Profitable Business Ideas To Implement After Lockdown Is Lifted In India

    COVID-19 is a deadly, respiratory virus that brought us to our knees in 2020. Almost every nation across the globe has been inflicted by the pandemic induced by COVID-19, popularly known as the coronavirus. World economy has taken a hit, millions of people have lost their lives, and industries such as aviation, hospitality, and real estate have incurred unfathomable losses. Many businesses have shut down.

    To curb the spread of the virus, India and other countries have implemented lockdowns, a setup where everything except essential services are suspended momentarily. Now that the lockdown in India is gradually being done away with in a staggered manner, businesses are in full swing to get back to normal. Moreover, new opportunities are bound to emerge. This list of the top business ideas after lockdown is removed in India holds tremendous potential and profitability.

    Profitable Business Ideas After Lockdown Is Lifted In India

    Healthcare Business
    Doorstep Delivery Business
    Food Delivery or Tiffin Service
    Online Tuition Classes
    Social Media Manager
    Home-made Gifts
    Digital Marketing
    Graphic Design
    Freelancing or Blogging
    Website Development Business
    Cab Service
    Yoga Trainer
    Ghostwriting
    Affiliate Marketing

    Healthcare Business

    Looking at the current state of the world, the importance of healthcare cannot be overstated. Many small business owners and manufacturers have undertaken the production of masks and sanitizers to help people and institutions fight the coronavirus pandemic. We are now extremely considerate over health, well-being, and sanitation. And the producers of healthcare equipment have generated massive profits in the process.

    Business post lockdown
    Healthcare Business

    If you’re an entrepreneur planning to enter the healthcare business, this is the right time to invest and grow. Reach out to retailers, wholesalers, and other suppliers if you cannot manufacture healthcare supplies and equipment on your own.

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    Doorstep Delivery Business

    Doorstep delivery has proved to be one of the most reliable business models during this lockdown. With people going to be extra cautious once the lockdown in India is lifted, the demand for doorstep delivery will increase. In the near future, customers will prefer buying vegetables and other essentials online rather than stepping out.

    Business ideas post lockdown
    Types of delivery Service

    ‘No contact delivery’, wherein the delivery staff would drop off the package at the doorstep and not come in physical contact with the customer, is immensely popular these days.

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    Food Delivery or Tiffin Service

    Many people prefer ordering food online rather than visiting restaurants. Ordering food online has become a seamless process courtesy of online platforms such as Zomato and Swiggy. Many entrepreneurs are now launching their own food delivery or tiffin services.

    Business post lockdown
    Food Delivery Service

    After the removal of lockdown, the crowd will barge to restaurants and food joints. And this implies standing in line for hours. As a result, individuals would resort to home delivery service apps and have meals delivered to their homes. Hence, establishing a tiffin/food delivery service is a great idea.

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    Online Tuition Classes

    Since the COVID-19 outbreak, schools and universities have shifted to the online mode of teaching. Online classes have become the new normal in 2020. To make the most out of this trend, professionals with the right educational background and expertise should start online tuition classes.

    Business after lockdown
    Online classes

    E-learning has become a new standard in education. With the availability of several video conferencing tools, organizing and moderating online classes has become easier than ever.

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    Social Media Manager

    Social media, a powerful and effective marketing medium, should be a part of any business strategy. Maintaining a social media account is important for organizations to stay in touch with their customers and audience. Social media managers are responsible for representing companies on platforms like Facebook, Twitter, Instagram, and LinkedIn.

    Business post lockdown
    Social media manager

    Many social media managers have the privilege of working from their homes. Moreover, the job allows one to exhibit creativity and innovation.

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    Home-made Gifts

    Home-made gifts have a place of their own. Hand-made gifts may be time-consuming in terms of fabrication, but they are immensely popular in gift shops. These products are made from materials such as wood, fabric, clay, and leather.

    Business ideas
    Home-made Gifts

    Home-made gifts are not that expensive to fabricate and can be sold at high prices owing to their demand. If you are creative and love to make DIY (do-it-yourself) gifts, then this business is for you.

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    Digital Marketing

    Digital marketing is about promoting and branding your business using digital platforms. It is seen as the fastest and most reliable mode of marketing. Digital marketing require skills like SEO, content marketing, and data analytics. Marketeers use this technique to drive web traffic to websites and other mediums.

    Digital marketing
    Digital Marketing

    Graphic Design

    Graphic design is about creating illustrations and art that sell. If you are creative and have a great eye for detail, then graphic designing is for you. It gives you the opportunity to bring your ideas to life.  

    Business after lockdown
    Graphic Designing

    Graphic designers are required in every industry/vertical for the purpose of advertisements. As you gain skills in the field of graphic designing, your value soars. Consequently, you get new opportunities in frond-end development and UX design.

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    Freelancing or Blogging

    If you are a passionate writer, then blogging is for you. Blogging requires patience, hard work, and the knack for playing with words. It takes time to create a successful blog. Blogging can be an good career choice if you know how to create informative and entertaining content. You can earn from blogging by leveraging ad networks, affiliate marketing, and sponsored reviews.

    Business ideas - blogging
    Blogging

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    Website Development Business

    Website development is about building and maintaining websites. It includes aspects like web design, web publishing, web programming, and database management.

    Website Development
    Website Development

    The field of website development has grown rapidly over the years. After COVID-19, more and more companies are realizing the value of digital presence. Hence, website development is in huge demand today.

    Cab Service

    Lockdown ideas - cab service
    Cab Service

    The coronavirus-induced lockdown in India raised the need for safe and hygienic modes of transportation; everyone wants to avoid crowded buses, autos, etc. Thus, converting this opportunity into a business model will prove to be beneficial. One can make a good amount of money on a daily basis by providing cab services to people who want to travel inter-city or intra-city.

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    Yoga Trainer

    With the majority of people turning into fitness enthusiasts during this period of lockdown, Yoga instructors and trainers have made major strides in their field. If you can teach yoga to others, consider becoming a yoga trainer. A yoga training institute can be opened with minimal capital. Yoga classes can be conducted online as well.

    Business idea - Yoga trainer
    Yoga Trainer

    All you need is a globally-recognized certification that shows your expertise in performing yoga asanas and other poses.

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    Ghostwriting

    Ghostwriting Business idea
    Ghostwriting

    If you belong to the writing industry, you may have heard of the term ‘ghostwriting’. In ghostwriting, you write for other individuals without taking credit. Hence, you are a ‘ghost’ whose write-up ends up as someone else’s intellectual property. Ghostwriting assignments include novels, blogs, articles, stories, and other forms of write-ups.

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    Affiliate Marketing

    Affiliate marketing enables people to earn commission by marketing or selling some other website’s product on their blog or website. As an affiliate marketer, you can promote others’ products/services on your medium (website, YouTube channel, etc.) using a unique web link and get paid if people end up making a purchase through that link.

    Affiliate marketing - business idea
    Affiliate Marketing

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    We hope you are making the best use of the lockdown period in India. Do comment if you know about any other feasible business idea.

    Frequently Asked Questions – FAQs

    What are some profitable business in India?

    Blogging, ghostwriting, and online tutoring are some business ideas that require low investment but yield massive profits in India.

    How can I come up with a great name for my business?

    You need to brainstorm by coming up with a bunch of names that sound interesting and convey the idea and value behind the service/product. Choose names with easy spellings. Identify the names that have already been registered by someone else. Strike them off. Then finalize on one name from the available ones and purchase an online domain with that name.

    What are the biggest challenges to starting a business?

    Some common challenges are the shortage of capital, coming up with a good business plan and executing it, not giving up on the first sign of failure, hiring a trustworthy team, time management, and maintaining a good work/life balance.

  • How to Start Used Car Dealership Business In India

    A used car dealership business in India means that selling used cars to customers who are looking to own a vehicle but their savings money does not allow them to buy from ex-showroom price and earn profits. The COVID-19 (Coronavirus Disease) pandemic has placed the automotive industry at great disruption. Starting a user car dealership business in India will be profitable, where cars have to be brought from their owners at a lower price than you will sell later. IBISWorld reports the used car dealership industry has had a net decline over the past five years, due to coronavirus, at an average annual rate of -1.6%. In the upcoming years, this industry’s 129,553 businesses are forecast to see $ 99.1 billion in collective revenue. Nowadays people need more cars due to their daily transportation. The globally used car market size was valued at USD 1,332.2 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027.

    As there is the rise in the cost of new cars in the market also the increasing rate of interest on car loans has resulted in a shift in consumer preferences from purchasing brand new cars to buying used cars. In this article, we will discuss in brief how you will begin this car dealership business.

    Used Car Market Size, by Vehicle Type
    Used Car Market Size, by Vehicle Type

    Key Segments of Used Car Dealership Industry

    • The inability of customers to buy new cars became one of the reasons for the growing sales of used car volume.
    • These dealership networks helped market participants to brand and make used car options.
    • The added quality and reliability of used cars changed the consumer attitude and increased the sales of the used passenger cars.
    • Investing in used car management has become one of the market’s requirements characterized by slimming margin, relentless competition, and demanding consumers.
    • High disposable income
    • Rising demand for luxury cars
    • The shorter period of car ownership
    • Increasing preference of the owner of a two-wheeler to upgrade to a compact car

    External Factors Affect the Used Car Dealership Industry

    Several factors affect the performance of the used car dealership industry:

    • Per capita disposable income – When customers have more money to spend, they become more willing to spend on expensive discretionary items, such as used cars.
    • Price of new cars – Buying a used car is a more affordable alternative to purchasing a new car.
    • Aggressive age of vehicle fleet – As the average age of vehicle fleets increases, it represents greater demand for vehicles.
    • World price of crude oil – High gasoline prices tend to decrease new and used vehicle sales.

    Used Car Dealership Business Plan

    A business plan is a blueprint that is necessary for running any business successfully. When you have a well-defined business plan the scope for trial and error in the actual business scenario. The primary objective of a used car dealership business is 100% customer satisfaction. After that, the business will aim to achieve and exceed the average profit margin within the first two years of business. The main mission must be to provide a hassle-free car buying experience with the main focus on customer satisfaction. After you select your location where you intend to start your business then you have to do work with the facts, indices, and other figures in the industry.

    The dealership also provides job satisfaction to its employees by rewarding their efforts with bonuses and incentives. One important thing is to fulfill the buyer’s need for safe and quality transportation by providing them used cars that match or exceed their expectations.

    After doing all the necessary objectives you need to bring together a proactive team of professionals who have some experience in the field. The network of suppliers that can help in buying and selling cars of optimum quality at attractive prices.

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    Used Car Dealership Business Start-Up Cost

    The start-up costs of a used car dealership will be financed through short-term loans, owners’ investment, and long term loans. The costs depend upon the following factors:

    • Stationary and office supplies
    • Accounting consultation fees
    • Office or plot rent
    • Legal fees for a business establishment such as ownership and no sell agreement
    • Office or plot rent
    • Marketing or advertisement fees
    • Web presence and online advertising expenses
    • Equipment such as desks, computers, telephone, fax/copier, and office furniture
    • Licensing
    • Surety bond
    Global used car market share, by sales channel 2019(%)
    Global used car market share, by sales channel 2019(%)

    Economic Analysis of Used Car Dealership

    This new wave of digital retailing represents more than technology alone because it focuses on the importance of the customer experience in the used-car buying process.

    Highlights of used car dealership business:

    • Complete end to end purchasing capabilities( 59% of buyers)
    • Extensive vehicle data and photos along with effective search tools ( 64% of buyers)
    • Unique delivery options( 28% of online buyers)

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    Your business goal will decide the legal entity, you must choose for your used car dealership business. When you are starting with a moderate amount of capital, you can choose to be the sole proprietor of your entity.

    Some of the legal documents you will need to run a used car dealership business are :

    • Business and liability insurance
    • Certificate of incorporation
    • Tax Payer’s ID
    • Fire certificate
    • Used Car Dealership License
    • Business Plan
    • Non-disclosure Agreement
    • Employee’s Handbook(optional)
    • Facility permit/ license
    • Franchise or Trademark License
    • Insurance Policy

    Choosing Location for Used Car Dealership

    A car dealership requires a parking lot where you can park the cars and display them, as well as an indoor office space where all the administration is done. Before you search for a location you will consider the following points:

    • Demographics
    • Number of existing used car dealerships in the location
    • Accessibility
    • Local laws of the region or state
    • Security, safety, parking space
    • The purchasing power of the people residing there

    Awareness of Used Car Dealership Business

    None of the business is running without promotion and the same goes with the used car dealership business. Uniform promotion efforts are important to get noticed. The way you show yourself people perceive you in that way. Nowadays social media has emerged as the greatest platform for brand promotion and is very effective.

    Some ways of brand promotion are as follows:

    • Sponsor community programs that are relevant to you
    • Give advertisements in newspaper, magazines, radio, and TV stations
    • Place hoardings in a target location that will get your business noticed
    • Distribute pamphlets
    • Some introductory letters in your location introducing people to know about your business
    • Take reviews from your initial customers and promote them because this way you will make trust

    Looking for Distribution Network for Used Car Dealership Business

    Being a member of a good network of used car dealers, you will be able to establish ready links with people who are looking to sell used cars. The Internet is a fantastic platform for advertisement and you must put your best foot forward in gaining leverage from it.

    Key Companies & Market Share Insights
    Key Companies & Market Share Insights

    The impact of GST on Used Car Dealership Business

    GST or Goods and Services Tax is usually charged on the transaction value of goods. Indian Automobile industry mostly benefited after the implementation of the new tax regime. As per the Goods and Services (GST) Act, a registered dealer buying from an unregistered dealer will be entitled to pay tax under RCM, which simply means the registered dealer would subtract all taxes from the payment made to be the provider.

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    GST Impact on Buying a Used Car

    If you are dealing in the market for a used car and are sifting through used car dealerships, you must have observed that the tax increased to 28 % from 5 % after the implementation of the Goods and Services Tax Regime. Previously, the used car dealers had to pay only 5 % tax value-added tax on the vehicles which are resold. Dealers generally keep their margin in the range of 10% to 20 %. It depends on the several factors of cars such as car type, age, and demand.

    GST Impact on Selling a Used Car

    If you are thinking to sell a used car, try searching for an organized car dealer nearby you who is offering second-hand vehicles at lower prices as compared to what you would expect for it. Generally, the dealers try to eliminate the tax burden either through the buyer and seller side or both.

    Conclusion

    The organized sectors and semi-organized sectors which cover approximately 21% of the market account are going to be benefited from the reforms and expected to grow by 36% and 12 % respectively against 17% unorganized sectors. Like dining, shopping, and entertainment, the car buying experience that people prefer is changing. The future of car dealerships is changing. The global used car market is expected to grow at a compound annual growth rate of 5.5% from 2020 to 2027 to reach USD 2,150.6 billion by 2027. The Asia Pacific dominated the used car market with a share of 35.6% in 2019, in terms of shipment. This is attributable to emerging economies, including India, which is dominated by unorganized players.

  • How to Start Babysitting Business

    Babysitting is defined as the work of a baby sitter; caring for children when their parents are not home. Babysitting can be paid for all ages. Babysitting is a job that anyone can enjoy doing, find fulfilling, plus it also provides a decent income. Babysitting can be a business. The only thing that matters in this how much time and effort you want to devote to it. Childcare is a common money-making idea because kids will always be around and they will always need to be taken care of. Starting a babysitting business is great because it can pay well, it doesn’t have to come with a commitment in the same way a regular job would (i.e.  set hours, payroll, etc.).

    The qualities before starting a babysitting business are as follows:

    • Organized
    • Punctual
    • Mature
    • Respectful
    • Attentive

    Babysitting provides business experience and insight that will pay off throughout your professional career. In this article, you will know how to start a babysitting business step by step.

    How to Start Babysitting Business

    Type of Business

    Sole Proprietorship

    A sole proprietor is a person who fully owns and manages this type of entity. A sole proprietorship usually does not have to be incorporated or registered. It is the simplest form of business structure and the ideal choice to run a small business or medium scale business. For babysitters, the best choice should be a sole proprietorship. It saves a lot of the paperwork and legal fees associated with starting a business. A sole proprietorship does not have a separate law to govern it. And so there are not many special rules and regulations to follow.

    Corporations or LLCs (Limited Liability Companies)

    A limited liability company (LLC) is a business structure for private companies, one that combines aspects of partnerships and corporations. Limited liability companies benefit from the flexibility and flow-through taxation of partnerships and sole proprietorships while maintaining the limited liability status of corporations. These legal entities help to protect their owners from liability.

    Importance of Taking a Babysitting Course

    • Leadership – People who hire babysitters rely on them to be the leader and keep their children safe.
    • Childhood Characteristics and Behaviour – In this they know about the stages of development for babies, toddlers, preschoolers, school-aged children, babysitting for children with disabilities, assistive devices, and service animals.
    • Creating Safe Environments and Personal Safety – Children learn to be safer when home alone. The points include dealing with strangers, answering the door, answering the phone in a way that doesn’t put them at risk, what to do in the event of a fire. Also know about personal safety and security, online safety and bullying behaviors, information about community safety, street safety, bicycle and scooter safety, water safety, and rural babysitting.
    • Caring for Children – A young babysitter needs to understand the importance of supervision, what information they should get from the child’s parent or guardian before they are left alone with the child. Other important points include home safety, poison prevention, and giving medications, suffocation and choking, how to change a diaper, how to feed babies and children of all ages, safe toys, and activities for each age group. They will learn about dressing, sleeping, playing, comforting, safe vs. unsafe touching, and misbehavior.
    • First Aid Skills and Handling Emergencies – In this learn first aid skills, accident prevention, checking for hazards, choking, CPR, asthma, anaphylaxis, minor cuts and scrapes, splinters, life-threatening bleeding, nosebleeds, bumps and bruises, burns, head, neck and back injuries, broken bones, seizures, poisons, insect stings, sudden medical conditions or other medical emergencies.

    Promote Your Babysitting Business

    There are many ways to find babysitting work. There are various approaches to fund work as a babysitter:

    • Network –Your friends and family know that you are available for babysitting. Then tell your parents to tell their friends. If there are families with young children in your neighborhood, then hang out at the playground and introduce yourself.
    • Get a referral – If you know someone who is already doing a babysitting job ask them to get a referral.
    • Check with your school – Try your guidance office or college career office for a list of babysitting jobs.
    • Job sites – Register with sites like SitterCity and care.com. Jobs posting are specific, detailing the hourly wage and strict requirement and rules regarding things like cell phone usage, driving requirements, meal preparation, help with homework, and more.
    • Sign up with apps – As well as websites there are apps aimed at connecting parents with babysitters such as Bubble, Sitter, Bambino, and so on.
    • Check on social media – You can also check for posts looking for babysitters on sites like NextDoor.com, Facebook, and so on. You can also post on these sites to let people know you are available to work as a babysitter. In the post, you mention your qualifications and availability.
    • Post-Ads Online
    • Create Babysitting Flyers – A good babysitting flyer lets the reader know exactly what service you’re offering and what they should expect. Mention any special services that you might offer, such as overnight or weekend babysitting, after school care, or transportation that you provide.
    • Make Your Website or Babysitting Blog – Creating your website is quite easy nowadays. Include all of the information on your website that you’d normally put on a flyer or other type of advertisement. Remember to include your city and specific details about your services on your site.
    • Use Newspaper Ads – Your local newspaper is another place to advertise your babysitting business. Newspapers can be a cost-effective way to advertise.
    • Join A Babysitting Website – There are websites out there specifically devoted to helping match up babysitters with families that are looking for them.
    • Partner With A Local Daycare – You can check with a local daycare in your area to see if they’d be willing to refer some of their clients to you.

    How to Be a Good Babysitter

    Being a good babysitter takes a lot of work, care, and ingenuity. You need to know the rules, how to keep the child entertained, and what to do when an emergency arises.

    • Understand your comfort level
    • Keep an open line of communication
    • Be prepared for everything
    • Be well-informed
    • Be organized
    • Be active and have fun
    • Reinforce rules and limits
    • Be watchful
    • Be open to criticism
    • Be gentle and caring
    • Be flexible

    How to Set Prices for Your Child Care Business

    Child care is a vital service and demand will only grow as more parents join the workforce. You love children and providing quality care for them is your idea of the perfect business. One aspect that impacts a child care center is the limit to the number of children you can accommodate.

    The amount you charge to accommodate each child in your center will be based primarily on five factors:

    • Overhead
    • Labor
    • Supplies
    • Profit
    • Maximum Capacity
    • Setting Prices

    When setting prices for your child care business, you’ll need to consider the following; costs, profit, local going-rates, and what the market can afford. Your fees need to be reasonable for your area, affordable for parents, and also fair to you.