Introduction to Staple Pins Project Report, Manufacturing Business Plan: Staple pins manufacturing has attained significance particularly the one made from galvanized iron wire type, mainly known as ‘white staples’. These staples are used in several ways like to staple sheets of paper, pin sandwich bags, album photos, cheque leaflets, common known bills, and it is obligatory for office use such as in banks, financial organizations, corporates, also in factory segments such as garment industry, rubber industry, leather industry, and extensively used in many stores that use to deliver goods and materials in packets.
A guide on how to start a Staple Pins manufacturing business, Staple Pins project report and business plan
These white shining staples that are good in good quality are even imported in the present times by various other countries, this causes an approximate foreign exchange economy of around Rs. 10 crores annually. In India, manufacturing has been restricted to the copper-coated staples and not the white shining staples, but regrettably, they face the problem of rusting. Therefore, the demand is growing for white staples manufactured using substandard wires in the market.
Business plan for Staple Pin Manufacturing Business
To start the profitable venture of Staple Pin Manufacturing Business, you need to design a perfect business plan to lay a successful path:
- Basis and presumptions
- Implementation schedule
- Market potential
- List of approvals required
- Raw materials required
- List of machinery and equipment
- Manufacturing process
- Project economics
Basis and Presumptions of Staple Pin Manufacturing Business
The Staple Pin Manufacturing Project Profile relies on the following assessments:
- Working hours/shift: 8 hrs.
- No. of shift/day:1
- Working days: 300
- Labor expenses: as per the State Government’s Minimum Wages Act.
- Rate of interest: 15% per annum
- Costs of machinery and equipment: Taken based on A particular dealer
- Value of raw material: As per local market Packing material/others rate (on wholesale rate)
- Land: owned
- Building Construction
- Break-even point will be estimated on a full capacity utilization basis
- Pay-back time is 5 – 7 years
Implementation schedule of Staple Pin Manufacturing Business
The project implementation schedule of Staple Pin Manufacturing Business
- Project preparation: 0-1 month
- Location selection, acquisition of 1-2 months land and land development
- Loan Sanction: 1-3 months
- Building construction: 3-4 months
- Connection of electric supply and water: 4-5 months
- Obtaining machinery: 5-6 months
- Electrification & installation: 6-7 months
- Recruitment of staff and workers: 7-8 months
- Trial run can be initiated in 8-10 months
- Commercial production could start from 10-11 months
Market potential of Staple Pins
You may also check this: Paper Bags Project Report.
Staple-pins are highly used as stationery items in schools, universities, and in offices such as for any government offices like banks, post offices, and other places, court, business, and in domestic use too. Many stores like Xerox, bakery and sweet shops, etc. even use staple pins almost regularly chiefly for packing products. Even laundry services and various other stores use staple pins regularly. This clearly indicates the requirement for staple pins in the market. Not only in India but staple pin making business witness huge demand in the international market as also said for the potential reasons and uses in various stores and offices.
The other aspect which makes the staple pin-making business a profitable one is its cost, one has to take care of the prices and sell the merchandise. Here, it is essential to keep in mind the quality of the product and the cost of the staple pin manufactured. One should never compromise about it so that it can be favorable for the customer to purchase your product rather than opting for an imported one of the same quality.
List of approvals required for starting manufacturing of Staple Pins
Below is the list of licenses, permissions, and registrations required for starting a Staple Pins Manufacturing Business:
- Firm registration
- MSME registration
- GST registration
- PAN Card
- Aadhar registration
- Registration of firm
- Shop Act License
- IEC Code
- Export License
- Fire and Safety
- No Objection Certificate (NOC) from pollution board
- Trade license from the local municipal authority
Raw materials required to start Staple Pin Manufacturing Business
Performed wire: There are several grades of wire present in the market but it is recommended to select the white wire for producing the staple pin that is available in Rs. 500 to 600 per Kg as this will reduce the rusting risks for pins. One has to select the quality of the wire and should not compromise on the quality of wire as it will affect the end product and this is even determined on the basis of consumer and the market.
- Adhesive materials
- Other necessary materials
The machinery required to start Staple Pin Manufacturing Business
The majority of the operation is taken care of by the machine itself, so it is the primary and most crucial step in beginning the business. One has to obtain the machinery from a proper dealer who has a branded one. Go through all the advantages and problems in the reviews if available before purchasing. In the present day, we can find out several YouTube videos for any product or machine. So, it is recommended to do a proper analysis and proceed with the machinery acquisition.
Thus, it is necessary to order or purchase from a source that has the supply of branded and machines with a warranty.
The manufacturing process of Staple Pins
The staple pin-making process includes a procedure that is simple and most of the things are performed by the machine only. So one does not require any specific training for beginning this business and if he/ she is aware of operating the machine then it’s a quite easy procedure.
In the primary stage, the wires which you select have to be placed in the machine that will be cut into staple pins in the necessary size and length. The staple pin-making machine can provide about 20 to 25 pins at a time. Finally, one has to pack the pins in the required desired quantities in the packaging cartons.
Staple Pins Project Report/ Economics of Staple Pins Manufacturing Business in India
How About This: 1000 MT Cold Storage Project Report.
A. Fixed capital Per month (Rs)
(i) Land & building
Rented 250 sq m area (workshop, office & store) Rs. 10,000 per month.
(ii)Machines and Equipment
Shearing machine Rs. 74,000
Power press 20 Tons Rs. 1,10,000
Die with Auto feeder Rs. 35,000
Machine drivers Rs. 2,500
Measuring instruments Rs. 10,000
Office furniture Equipment
Electrification and installation @10 of total cost of machinery: Rs. 18,400
Total Rs. 2,49,900
Say Rs. 2,50,000.
iii) Pre-operative Cost Rs. 20,000
Total fixed capital (ii) + (iii) Rs. 2,70,000
B. Working Capital (per month)
Manager /Engineer: Rs. 12000
Skilled Worker-2: Rs. 12000
Semi Skilled Worker-2: Rs. 10000
Peon Cum Watchman-1: Rs. 5000
Sweeper (part time)-1: Rs. 2000
Helper-1: Rs. 4500
Total: Rs. 45500
Perquisites@ 20%: Rs. 9100
Total: Rs. 54,600
Say: Rs. 55,000.
Tin plate 60000/ton 04 tons: Rs. 2,40,000
Packing material: Rs. 10,000.
Power: Rs. 2500
Water: Rs. 500.
(iv) Other Contingent Expenses
Rent: Rs. 10,000
Postage & Stationery: Rs. 500
Repair & maintenance: Rs. 3,500
Transport & conveyance: Rs. 5,000
Telephone Charges: Rs. 500
Insurance: Rs. 1,500
Miscellaneus Expenses: Rs. 1,000
Total: Rs. 22,000.
(v) Total Recurring Expenses (pm)
Raw material 2,50,000
Other contingent Expenses 22,000
Total: Rs. 3,30,000.
Total capital Investment
Fixed Capital: Rs. 2,70,000
Working Capital (for 3 months): Rs. 9,90,000
Total: Rs. 12,60,000.
(1) Cost of production (per year) in (Rs)
a) Total recurring cost: Rs. 39,60,000
b) Depreciation on Tools and office Equipment @ 20%: Rs. 9,500
c) Depreciation on machinery @ 10%: Rs. 18,400
d) Interest on total investment @ 12.5%: Rs. 1,57,500
Total: Rs. 41,45,400.
(2) Total Sales (per annum)
By sale of 90,00000 @ 0.52 each = Rs. 46,80,000
(3) Profit (per year)
Profit = (Total sale) – (Cost of production)
= Rs.46,80,000 – Rs.41,45,400
(4) Net profit ratio = Net profit per year x100
Turn over per year = 5,34,600/ 46,80,000 x 100 =11.4%
Rate of Return = Net profit per year x100
Total investment = 5,34,600/ 12,60,000 x100 = 42.4%.
Break even point
Rent: Rs. 1,20,000
Depreciation on Machinery @10%: Rs. 18,400
Depreciation on Tools & office Equipment @20%: Rs. 9,500
Interest on Loan: Rs. 1,57, 500
40% of Salary & Wages: Rs. 2,64,000
40% of other Contingent Expenses: Rs. 57,600
40% of Utilities: Rs. 14,400
Total: Rs. 6,41,400
B.E.P. = Fixed Cost x 100/Fixed Cost + profit
= 6,41,400 x 100/11,76,000
Marketing strategies to promote your Staple Pins product
To sell your staple pins product you need to register it online on B2B websites and B2C websites. You can even distribute some samples in the nearby supermarkets, xerox shops, schools, colleges, stationery stores, offices, or in the wholesale markets where your product gets well purchased.
B2B websites: The websites like –
- ExportsIndia will take the bulk orders for your product.
B2C websites: To sell the products directly to the customer, you may also market in the well-established websites like–
- Flipkart, etc.
Staple Pins Manufacturing Business is a simple business with more profits. Staple pins have become a daily requirement in schools, offices, xerox shops, etc. So, you can earn good profits with a simple manufacturing process.
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