The demand for electricity is increasing in India with new startups and businesses coming into action, that’s why starting electric Switch Plug Manufacturing Business in India.
Since this business can be started with less investment, it can be an ideal business for a person who wants to start on a small scale and grow their business in the future.
So, today in this blog we will know the whole process of starting an electric Switch Plug-making Business.
Also read about: How to Start Paper Plate Manufacturing business (Full details)
Table of Contents
What is Electric Switch Plug Manufacturing Business?
Every house, commercial building, office, and factory needs electricity for their daily activities and electric sockets are used to get power in appliances and electric tools and that’s why they need electric switches and plugs.
The demand for Electric switches is mostly high in newly constructed houses and buildings and one can take this opportunity to supply the switches and earn good returns.
Raw materials used in Electric switch plug-making business
These are the necessary raw materials required to start this business.
- Molding powder
- Screw pin
- Terminal
- Flap and spring
- packing materials
Machinery required
- The first machine you need is a compressor molding machine or electric switch socket plug-making machine to make the electric switches and plugs
- The next machine you will be needing is a buffer machine to give a smooth design to your electric switches and sockets.
- The testing machine is also used to check whether you are products are working properly.
Electrical switch and socket business potential
The electrical switch and socket business potential have a very good profit potential if your marketing is very good which we will discuss in the next section.
According to ibef.org data by 2040, the real estate market will grow by 9.30 billion from 1.72 billion, and because of this, the demand for electric switches and plugs will also increase because new houses and buildings will need switches and plugs.
From this data, we get a clear idea that the future of the Electric Switch Plug Manufacturing Business in India has good potential.
Important licenses
To start this business without any trouble and you need to achieve the following licenses
- Business registration
- Trade licenses from local authority
- GST registration
- ISO certificate
How to do marketing for Electric Switches and Plugs in India
Since this is a business that is easy to start and needs low capital, that’s why there are going to be various competitors in the market and that’s the reason you need a good marketing strategy for your products.
1. Take a look at your existing competition
Before you start your business, you have to look at the existing competition in the market so that you can get an idea of the following things
- How strong is the competition in the market?
- What are the weak areas of competition?
- Where do your competitors get the raw material from
- At what prices do they sell and how much does it cost them to produce the products?
If you have knowledge in advance about these things then you can create a good marketing plan for your business.
2. Find good suppliers
The success of a business depends on various things and a supplier is one of them, if you have a good supplier, your business will run smoothly without any interruptions.
You can find a supplier in your local area and if not, then you can find a supplier online as well.
Make sure, your supplier provides your raw material at a lower price and does timely deliveries, so your business can run smoothly.
3. Manufacture high-quality products
The only thing customer like the most is the quality of the product, if your quality is good, then you can build a brand image in front of your customers, and brand image is very important if you want to get regular sales.
You should use, good quality materials, give good design to the products and use your brand name on the products.
4. Know customers for your products
Before you start manufacturing your products, you have to know about your customers because if you don’t have any customers then there is no point in starting a business.
So, while looking for customers, you should know how many customers your business can get and whether it’s online or offline customers.
5. Create Brand Image
The brand image doesn’t only help you in sales, but it also helps you in the long term when you want to expand your brand.
You can develop a good brand image by providing high-quality products, maintaining a good profile on social media, and continuously updating your social media accounts.
Conclusion
You can Start Electric Switch Plug Manufacturing Business in India with minimum investment and earn good returns. The business model is very simple and raw materials are easily available online and offline.
But before starting this business or any other business you need to understand the potential and competition of that business. And this can only be done through market research.