Introduction to profits in eraser making business (the cost to start)
Eraser making business is always an income-generating resource. If you plan to start eraser making business for yourself and also for others if you plan to create employment opportunities for people. Before initiating any business one must thoroughly perform a proper analysis and research associated with that business to make a successful one.
Ideas to start and make profits in eraser making business in India
Today we are interested to explain you the various aspects of eraser making business so that you can carry out this business successfully. To initiate the business eraser making business plan is required for a successful business. In this blog, you will get all the details required for how are erasers made.
Uses of eraser: This product is extensively used by the children and it has a high need in the market. This product is also required by students going to college and office staff.
The market potential for eraser making business in India for goof profits
Eraser making business has great market potential in India. The demand for a high-quality eraser in the market is growing day by day. Some of the wooden pencils have rubber at the endpoints; these were attracted by many of the children. As the education sector is growing day by day the quality eraser has the highest demand in the Indian market. In the educational sector, the rubber is an essential factor, even tailors, bookkeepers, artists, and sketch artists need them regularly so proper distribution strategy applied will be a successful money-making business in India capturing a wide market in the locality.
License for eraser making business
Even though you have the plan to start your business on a small scale, it is essential to get your business registered and acquire a proper license. By registering your business you will be having the advantage to avail of various government benefits. After the firm is registered, the next significant step is to get a license. It is imperative to obtain a proper license for this business. You may obtain your license from the local authority of your state.
Raw materials of eraser making business
To make eraser the essential material needed is rubber and 2 types of rubber are utilized for this purpose. One is natural rubber and another is a synthetic rubber. To make synthetic rubber, petroleum products such as ethylene and styrene are employed. The natural rubber is obtained from the latex of the rubber tree.
The cost for rubber never stays constant and changes from time to time. That is the reason why it is very tough to tell the precise price of it. You can purchase rubber online or can also order it from any retailer or wholesaler nearby in your city.
Area required for eraser making business
To establish this business you need 250-300 sq. ft. of land. It is based on what scale do you want to do the activities of your business. If you are arranging this business through machinery then you will not need a larger area.
Other ingredients required for eraser making business
Organic dyes– These are used for coloring the eraser. The colorful erasers that are available in the market are made by using the organic dyes.
Sulfur– Sulphur is meant for vulcanizing the eraser. Vulcanizing process aids to make eraser strong. For making a strong eraser, heat and sulfur are utilized and thus eraser becomes durable and heat resistant.
From where to buy sulfur for rubber making business
You can purchase at any chemical store or you order online from various e-commerce sites.
Around 120 gm of sulfur is available at Rs. 300 but if you purchase it in bulk then you can get have some discounts.
Eraser making formula is given below-
It is even employed in making an eraser. It is used for softening the eraser and giving shape to it. The starting cost for the vegetable oil starts from Rs. 100. You will also need abrasive, lithopone, and factice for making an eraser.
Eraser making machine
An automatic eraser making machine is employed for the manufacturing of an eraser and this is easily obtainable.
Eraser making machine price – It is based on which type of machine you are buying, i.e. if you purchase eraser making machine with high manufacturing ability. Then it will be charged that ranges from Rs. 3 lakhs to Rs. 10 lakhs and whereas the one with lower capacity will be less expensive.
The manufacturing process of eraser making business
Firstly you must determine what type of rubber you will be consuming for making eraser, either the synthetic one or natural rubber. There is no variation between the erasers made either from the synthetic one or natural rubber.
Then after determining it purchase that particular rubber. If you purchase synthetic rubber then it is a form of powder but the natural rubber is not. So you must convert the natural rubber into powder form.
Mix the aforementioned chemicals in the rubber powder. After mixing properly you must melt this mixture by a machine. This mixture will then get transformed into a soft solid after melting. Shape the erasers using the machine and the eraser will be ready.
Packaging and labeling of eraser
After making an eraser the next most significant task is the packaging. Erasers are packed in two ways; in one way of packing polythene is applied to wrap it and in other types, cardboard or paper is wrapped over the eraser. You can use either of the methods.
Not only that, for packing the erasers you must have cardboard boxes. You must obtain these boxes from any manufacturer of cardboard boxes. If possible try to have your company name printed on these boxes. This will then aid in the publicity of your company.
How to decide the price of eraser
The erasers are available in the market starting from Rs.1. So ensure to have the price of your eraser nearby to the price of other manufacturers to sustain the market. If possible even keep the price your eraser lower than the market price of the already present erasers in the market in the initial stages at least to grab the customers and increase sales of your eraser. You can increase the price of an eraser when your business starts to become famous.
Investment or cost to start an eraser making business
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You will require about Rs. 5 to 8 lakhs to initiate small-scale eraser making business at small scale and the cost or investment to start medium-scale eraser making business in India is Rs. 12 lakhs to 15 lakhs. The investment might be a little high but the profits will be high.
Profits in eraser making business
You can expect profits that range from 35 to 40%. You can make a good amount of profits in an eraser making business within no time of investment. If you cannot afford the initial amount you can avail the loans.
Loans for eraser making business
If you are not having sufficient money to begin the business on your own then you may approach any government bank. You can reach the private bank as well and it will be rapid as well but you should bear the higher interest rates. Government banks do take a lot of time to disburse loans but the interest rates less as compared to the private banks.
Initiating the eraser making business when you have sufficient knowledge of eraser making business is a better option. You can face some problems when you are in preparatory stages of the business but you sustain patience and does hard work by keeping your utmost efforts then you will succeed in this business.
Scope for starting another business along with this business
Rubber is a material that can be employed to make many products. So if you wish to do that after your business is recognized in a good manner you may begin another business related to rubber. E.g. you can start the pencils with rubber at their end and even initiate the manufacturing of rubber stamp business.
Promotion and marketing
Many people are into the manufacturing of erasers and their erasers do have a good sale in the market. So you will need to promote your brand properly to sustain the market and give a firm stand to competitors. Through promotion, people be aware of your brand and this could aid in improving the sales of your eraser.
How to promote your eraser making business
Small scale marketing
You can encourage your brand at a small scale level. You can provide an advertisement via the print media through any local newspaper. You can prepare free samples to nearby school children to give them an idea of your product and the brand so that they will purchase it later.
Large scale marketing
You must spend more if you need to advertise the brand at large scale. You can place an ad on television channels. So it is recommended to promote the business after it is well established or in case you don’t have any budget constraints.
Recruitment of employees
You must employ some staff for this business. If you are starting a small scale then you must have 8 to 12 employees which will be more than 16 people for large scale business. Make sure you hire skilled people or with experience candidates for your business.
Training for eraser making business
Get perfect training on how to make erasers. You must get trained to train the employees for handling the machinery to have smooth operations.
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