Business Idea: Invest Rs 1.8 Lakh And Earn Rs 8.02 Lakh Per Year In This Business Venture | Companies News

Business Idea: Scope of Coir Brush Business

Commonly created from coconut fiber, coir is used to make a variety of cleaning brushes, including floor sweeping brushes, scrubbing brushes, table cleaning brushes, commode brushes, bottle cleaning brushes, etc. Because these brushes are used for routine cleaning, there is a great demand for them in the market. As the market is always hungry for this product, producing and selling it would be very lucrative.

Business Idea: How will the government help?

The government is providing help to start the coir brush-making business. You can avail of the facility of the Mudra loan of the Central Government to start this business. MUDRA loans are available in three categories. For small businesses, loans up to Rs 50000 are available under the ‘Shishu’ category and beyond 50,000 and up to 5 lakh under the ‘Kishor’ category. Loan is offered beyond 5 lakh and up to 10 lakh under the Tarun category. According to your category, you can avail of the loan.

Business Idea: Cost of Launching Coir Brush Business

The Khadi and Village Industries Commission has prepared a report on the ways to start and profit from the coir brush business. According to the feasibility report, to make coir brushes you will need a manufacturing unit. The project costs Rs 18 lakhs, out of which your capital will be Rs 1.8 lakhs. There will be a working capital of Rs 6.76 lakhs. If you don’t have any space of your own, you can rent space and install the unit there. The estimated annual sales turnover will be Rs 67.03 lakhs, according to the KVIC report.

Business Idea: Coir Brush Manufacturing COST OF PROJECT

Particulars Amount

Land Rented/Owned

Building & Civil Work (1500 Sq Ft): Rs 4 Lakh

Plant & Machinery: Rs 6 Lakh

Furniture & Fixtures: Rs 49,000

Pre-operative Expenses –

Working Capital Requirement: Rs 7.51 Lakh

Total: Rs 18 Lakh

Business Idea: Coir Brush Manufacturing MEANS OF FINANCE

Particulars Amount

Own Contribution @10%: Rs 1.80 Lakh

Term Loan: Rs 9.44 Lakh

Workign Capital Finance: Rs 6.76 Lakh

Total: Rs 18 Lakh

Business Idea: Profit from Coir Brush Business

The KVIC feasible report giving a Five Year’s Projected Profitability Statement on coir brush Manufacturing Business said that in the first year you can see a net profit of Rs 4.54 lakh, Rs 6.16 lakh in the second year, Rs 8.25  lakh in the third year, Rs 7.09 lakh in the fourth year and Rs 8.02 lakh in the fifth year.

By starting a coir brush manufacturing business, you can earn lakhs annually  when you are producing the best quality brushes and selling them in the right market. You can contact nearby supermarkets and shops to sell your product. You can also list your product on online sites to boost sales.

(Disclaimer: This article is for sole information purpose and for readers’ project identification. The earning calculator is also mostly based on assumptive figures to give an example of certain type as mentioned by KVIC previous estimates. The Zee News article does not intend to give any financial advice of any sorts. For initiating any venture, you must do your own due diligence and market research.)