Nowadays, many sixteen-year-olds want to increase their income. Many people start small businesses alongside their jobs, hoping to become rich in the future. If you also have such thoughts, then you are in luck because we have a great business idea for you. Yes, we will talk about a business that can make you a millionaire with a small investment. The demand for this business is growing every day, from the cities to the small villages.
What Business Are We Talking About?
We are talking about starting an all-purpose cream manufacturing unit. These days, people are paying more attention to fitness and skincare. There are many types of skin creams available in the market, but everyone wants glowing skin and a glamorous look. As a result, the demand for all-purpose cream is increasing day by day, and this is where your opportunity lies.
What is All-Purpose Cream?
All-purpose cream is a white, sticky cream that removes skin dryness and protects it from moisture. It can be used in all seasons. As the number of beauty parlours increases, the demand for this cream is also growing. From metro cities to small villages, its demand is skyrocketing everywhere.
How to Start an All-Purpose Cream Manufacturing Unit?
According to a recent report, this business can be started with just Rs 14.95 lakh. However, you will only need to spend Rs 1.52 lakh from your pocket, as a part of the amount will be loaned through the Pradhan Mantri Mudra Yojana. You can get Rs 4.44 lakh as a term loan and up to Rs 9 lakh as working capital.
To get started, you will need to invest approximately Rs 3.43 lakh in plant and machinery, Rs 1 lakh in furniture and fixtures, Rs 50,000 in pre-operative expenses, and Rs 10.5 lakh as working capital. You will need 400 square meters of space to set up the unit, but you can start the business on rent if you prefer.
How Much Income Will You Earn from This Business?
Reports indicate that if you can start production at full capacity in the first year, you can earn up to Rs 6 lakh annually. The income will grow steadily as the business expands. Within five years, the profit could reach around Rs 9 lakh.
If you’re looking for a profitable business with a small investment, starting an all-purpose cream manufacturing unit is a great opportunity. With consistent growth, you can easily become a millionaire.
