Introduction to earn money from Staple Pin making business
Are you looking for profitable small scale profitable business ideas which can be operated even from home with the minimum investment? Then you have to definitely go through this article and know about the staple pin making business which is the most suitable business as the staple pins have a highest demand in the market and hence it would be a great option to start as an individual business.
A guide to earn money from Staple pin making business
The manufacturing of staple pins in India, gained an importance especially in making the galvanised iron wire type, commonly known as ‘white staples’. These staples are used in wider applications such as staple sheets of paper, album photos, sandwich bags, cheque, common known bills, and it is mandatory in few of them like banks, financial institutions, offices, also in industries such as garment industry, leather industry, and rubber industry and majorly used in many shops delivering the materials in packets and what not.
These white shining staples which are of good quality are also imported currently to many other countries, involving an estimated foreign exchange economy of Rs. 10 crores per year. In India, manufacturing has been limited to the copper coated staples other than white shining staples, but unfortunately they rust fast. Hence the demand has been increased in for white staples made from substandard wires in the market, but few of these wires are also nowadays getting rust. However, none of these can be compared in performance and quality to these of white staples, especially such as those of “MAX” of Japan.
Market of staple pin making business
The staple pins are usually copper-plated, hence it results in quick rusting and is not of that great in quality, and hence most of the staple pins were imported from Japan which has the higher quality compared to all these. The reason behind this is the unavailability of highly performed galvanized wire and mostly the availability of the good galvanized quality of adhesive in our country.
Don’t panic, good news is that the situation has changed as this fine quality raw material for manufacturing the white staple pin is available everywhere in India and thus your staple pin making business can produce pins with international quality and can minimize the rust problems.
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Staple-pins are widely used as stationary in schools, colleges, in other offices like private companies, in every government offices like post offices, bank and other institutes, court, corporate and in homes too. Many shops like Xerox, sweet shops, bakery, etc. also use staple pins on daily basis which are majorly used for packing goods, also in laundry service and others. You can know by this factor, how the demand for staple pins has increased in the market. Other than the wide domestic market in India, staple pin making business also has a great demand in the international market because of its potential users, as they are required in daily basis in few stores and others.
The other factor which makes the staple pin making business a good business is the price, you need to manage the costs and sell the product, as the price of the staple pin manufactured the costs which has to be less than the one which is imported from the outside with the same standard of quality. Make a note that you should never get compromised with the quality, as this will be the major point which attracts the customers.
Staple pin making procedure
The production of staple pin making involves the following procedure, which is quite an easy one as the major part of the work will be done by the machine itself. So there is no need of any training for starting this business, anyone can start producing staple pin, but just need to know how to operate the machine wisely.
The important things required for starting the staple pin making business includes the following four steps:
Staple pin manufacturing machine
Almost all the work is done by the machine itself, so it is the first and most important step in starting the business. You need to acquire machinery from the trusted suppliers which is a branded one. Go through all the pros and cons in the comments sections available. Nowadays, they are making YouTube videos for everything. So, it is better to go through them before purchasing.
So it is important to order or purchase it from a trusted supplier of branded machines. It will cost you around 1 lakh 20 thousand to 1 lakh 50 thousand rupees in India.
Raw materials required in staple pin making business
- Performed wire: There are various qualities of wire available in the market but it is better to choose the white wire for manufacturing the staple pin which will cost you around Rs. 500 to 600 per Kg as this will minimize the rusting problems for pins. You need to choose the quality wire and never get compromise with the quality of wire and it is also based on the demand from the client and in the market.
- Adhesive materials
- Other consumables
Process of making the staple pins: In the first step, the wires which you choose need to be put in the machine, then the wires will be flattened and straitened in the machine which will be suitable to cut into staple pins of the required size and length. The staple pin making machine is capable of producing 20 to 25 pins at a time. Later, you need to pack the pins as per the desired quantities in the boxes.
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Best suitable for people – staple pin making business at home
As mentioned and discussed before, the making process of staple pins is quite easy and simple, so you don’t need to have the highest qualification in starting the staple pin making business. Moreover it doesn’t require large space it only requires an area of just 50sq. meter, which can be easily started at your home only. So anyone who wants to start a small scale business can start this business and mostly the housewives or retired persons can mainly think of commencing this business idea. Likewise it needs only a minimum investment and this least capital investment of starting this business attracts everyone who can afford to start a small scale business. In market there is huge demand of staple pins, so it would be a great opportunity for you to get a good source of income and that is also from your home.
Requirements for starting a staple pin making business at home
Staple pin making business is a small scale business option where it doesn’t require much of investment and it has no much difficulty to set up the business. But few things you need to consider before starting it, these are the simple steps which can be followed to start the business: –
- Registration of business: No matter what kind of business you start but you have to get your business registering or taking trade license and Vat license from your local authorities. You also need to take the permission to start the business at your home because you need to take separate power supply for using the machine and others things related to it.
- Brand name: Name your business with a small and attractive caption to brand your business and the products. But remember that it should be easy for everyone to remember, so that customers can remember easily and can ask for your product directly from the shops in which you are marketing.
- Capital for the business setup: A maximum capital of Rs 1, 50,000 is required for a good start in the staple pin making business.If don’t have enough individual savings then you can even get loans from financial institutions by submitting an attractive business plan by listing the growth of business, and other particulars required to apply the loan.
- Quality control and standards: The staple pins have to be manufactured as per relevant Indian specification and a standard IS 4224:1972.
The most important way to have a successful staple pin business is to maintain a good quality of production and also need to adjust it to the reasonable rate. More importantly you need to get the raw materials and machine required for staple making business, get it from the most reputed suppliers or distributors for an uncompromised quality which is the most important thing in this business.
Earning potential from Staple pin manufacturing
As there is no particular brand for your competition, you can try with your brand in nearby schools, hospitals, universities, or offices etc. because we use staple pins almost everywhere. Hence a simple initial marketing is necessary to increase your customers. But, you need to keep your efforts, in order to catch enough stationery, schools, and offices so that you should be able to make minimum turnover of up to Rs. 5 lakh, to earn a decent amount.
Market potential of Staple pins in India
White staples made in India have a great market as they do not have the problem of rusting, and can compete without strain against “MAX” of Japan especially. Since the matching quality is assured you need to get the whole sales price as low per packet of No. 10 staples and need to adjust the rate less than the market value. If you still interested to increase your business you can even contact to the international exporting market. You may also like the Agri Farming Business Plan.