Profitable Business with Match Box Industries – Tips for Entrepreneurs
The ability to make and use of fire was one of the first steps towards the civilization of humankind. However, until the first half of the nineteenth century, the process by which the fire industry was slow and laborious. When the friction match was invented, it revolutionized the application, production and the portability of fire.
As an instance, during the past three decades, the Indian matchbox industry had grown rapidly. Many of the government policies protected Indian matchbox industries by placing protective tariffs on imported products and specifically favored the expansion of the handmade, small-scale sector through the use of differential excise taxes. There are more opportunities to start a matchbox industry, as an entrepreneur here we had given some suggestions. So, before starting your business, let’s have a look at it.
Steps involved in starting a matchstick production company
Craft your business plan- First, we have to figure out the business plan, which should highlight your competition, the total cost required to start and run the business, the profitability of the market, and the projected earnings from the business.
Source for funds- Once you have crafted the business plan, the next step is to get the source for funds. If you can’t able to startup business by yourself, then you may seek support from your family and friends. Or else, you may apply for small business grants or loans.
Find a location- If your funds have been raised, now its time to select a perfect location. It is best to choose a location that is very close to where potential customers and distributors can easily reach.
Get the necessary equipment and staff-In matchbox industry, most of your operations will be machine-mediated, so you will need to acquire the machinery you will need. These include:
- Match production machinery
- Log conveyor
- Splint production machinery
- Head composition and friction composition machinery
- Air compressor and so on.
Start production and marketing- You can start your matchbox production once everything was set to be ready. At the same time, you can start marketing your business to a potential customer or else use some proven marketing strategies to spread the word about your business.
Matchbox Industry reeling under higher levy-Tips for Entrepreneur
To start matchbox business, it will cost you at least 200000$. Why how much cost? Well, widespread use of gas lighters at home and to an extent, increased awareness on the harmful effects of smoking and its ban in public spaces, and rising cost of production have all sounded the death knell of the once thriving industry. In this high-demand, as an entrepreneur, you have to lead a business in a unique way. Here are some of the creative ways to boost your matchbox sale.
- Start a Blog
- Create a Twitter Account
- Network on LinkedIn
- Start a LinkedIn Group
- Create a Business Facebook Page
- Host Webinars/Live Seminars
- Article Marketing
- Offer Free Reports
- Write a Book/eBook
- Join Local Industry Networking Groups
That’s it! just follow all those steps and be a master in this industry. From our side, we have a more recommendation for you. Customers always tend to buy safety match boxes, which are best in quality and greatest in quantity. Further, they like to purchase the most comfortable matchsticks that have absolutely no fire of spreading fire here and there. So, your matchbox should also fulfill all those needs. Be aware on that and start your business from today!