Business Ideas

Product/Service Description

This is a recycling business that involves collecting scrap steel from various places like manufacturing sites, construction areas and places where waste is collected...

Product/Service Description

This is a recycling business that involves collecting scrap steel from various places like manufacturing sites, construction areas and places where waste is collected. This scrap steel is then processed in the factory and transformed into new products that are again sold in the market.  See More

Product/Service Description

This is a recycling business that involves collecting scrap steel from various places like manufacturing sites, construction areas and places where waste is collected. This scrap steel is then processed in the factory and transformed into new products that are again sold in the market.

Market Scope/Potential

Metal recycling is a huge business in India. It provides employment to a large part of our population. Though the establishment of this business requires a bulky capital as well as the engagement of a large number of people, the finished goods earn a good profit in the market. With correct market research, this profit can be grown continuously, and the business can flourish extensively.

Opportunities

1.      Huge availability of raw materials (scrap steel).

2.      The scrap steel is available at a very low price or, in some cases, almost for free.

3.      The finished products (steel products) are sold at a good price, thus yielding enormous profit.

4.      Around 40% of steel material is made from recycled steel.

5.      Metal recycling helps in cleaning the environment.

Risks

1.      The scrap steel must be handled with care, as they are potentially dangerous and can cause physical ailments.

2.      All the employees should be insured, as the work involves dangers to health.

3.      Collecting Scrap steel from all the places must be managed efficiently and in a cost-effective way.

4.      The business must be registered.

5.      Huge capital is required to establish the business.

Entrepreneurial qualities

Specific skill is not required for this business, but any person wishing to enter this field must develop good contacts with industries and places that can provide scrap steel (raw material) in bulk at a reasonable price. Good marketing skill is also required to sell the finished products at a profitable price.

Conclusion

Though the recycling business is not regarded as a top-class business, it does have its own benefits. It helps to clean the environment by utilizing the waste metal. It also contributes in providing employment to many people. It gives the business person an opportunity to earn good profit.

Product/Service description

Product/Service description

 The business focuses on selling various brands of white and grey cement to retailers and...

Product/Service description

 The business focuses on selling various brands of white and grey cement to retailers and construction sites. The shop also has the provision of the transporting the cement bags to the construction sites.

Market Scope/potential

Cement business has always been a flourishing occupation in India mainly due to the ever-growing nature of the construction in our country. This is the one business that has hardly been affected by recession. Therefore, a dealership in cement is always a good idea to make a handsome profit. However, some marketing strategies need to be taken care of in order to increase the sales and run the business smoothly.

Opportunities

Less investment is required to establish the business.

Profit margin is good.

Cement is in great demand.

Risks

Competition is more, so good contacts with engineers, architects and builders is a must to do a good business.

A minimum area of 500 sqft. is required to open a cement shop.

Storage should be ideal so that it does not degrade the quality of the cement.

The shop should be in an area where the cement bags can be easily loaded or unloaded from a truck.

Labourers are required to load and unload the cement bags.

There should not be another cement dealership business in the vicinity.

The business should be registered.

Entrepreneurial qualities

Anybody dealing in cement business must have an overall idea of the raw materials used for construction of buildings. He/she should also be able to manage the labourers and drivers who would help in the transportation of the cement bags. In this business, developing contacts and relationships with builders and engineers is the best way to get good sale contracts.

Conclusion

Cement business holds a good scope in the market, as it is one of the most important material used in the construction. Establishing this business does not require a lot of money. So, anybody who has efficient managerial skills and is good at maintaining interpersonal relationships can grab this opportunity and make the most of it.