Covid-19 has shaken the trade block chain of the whole World. It hampers many businesses as well. The economy of our country drastically trembled in many ways. Many people lost their jobs. But still, there is hope for those wanting to start a new business in this challenging time.
Moreover, so many people desirably want to establish a new startup, but they are scared of the profit and loss graph of their new startup. Because post covid situation is unknown for everyone.
So, every new startup businessmen are kind of scared of the consequences of starting something new.
But, I will talk about a business startup that can be tried in covid-19 pandemic time and for the very future. Mask-making business in India can be a great choice to start over a new business in this time.
Mask Making Business in India will not do your business in the loss graph because the demand for masks will have to be the same for the post covid World.
Steps To Start That Business
To start a face mask-producing business, business owners must understand that the Indian surgical mask market is divided into two channels.
The first channel is a product based in which the market is further divided into manufacturing of N95 respirators, basic surgical masks, anti-fog surgical masks, fluid/splash resistant masks, etc.
The Distribution process is the second channel in which the surgical market is classified into medical stores, pharmacies, clinics, healthcare centers, drug stores, and hospitals.
Following these two channels, business owners have the chance to choose from these two business divisions, such as mask production and distribution, or it can be both.
The following steps to start a face Mask manufacturing business:
Step 1– First, Plan and document a Business Plan that should be a Written plan that should consist of all the business details, information of equipment and machinery, total budget, details of employees, working capital or investments, marketing, and advertising strategies, etc.
Step 2– According to Company Registration Act, the applicant require to get the business registration is done as a private limited or public limited company, a sole proprietorship firm, partnership firm, or limited liability partnership under the Ministry of Corporate Affairs (MCA)
Step 3– Acquire ISI standard registration, which is compulsory, and Micro Small and Medium Enterprise (MSME) registration, if it is applicable.
Step 4– After that, you will have to finalize or rent space at a particular area/location to inaugurate equipment and machinery with the particular procedures and required convenience.
Step 5– Then you will have to acquire a Shop and Establishment Act License from the respective state authority regarding the state in which the business will be placed.
Step 6– After that, secure and install equipment/machinery and related tools in the rented or chosen space.
Step 7– At the final stage, you will have to hire skilled workers to start the production process after providing machinery training.
Types of machines that can be used in the face mask manufacturing process:
Scope and Future Mask Making Business
This growth rate is mainly categorized to the number of surgical procedures performed in India annually.
The country is currently confronting a multifaceted burden of infectious disease, neonatal disease, non-communicable diseases, maternal disease, and injuries.
The need for surgical products and services in India is anticipated to continue to rise remarkably from now until 2030.
Thus, this overall increase in the number of surgical procedures performed in India is projected to boost the demand for surgical products such as masks and gloves in the years to come, ultimately stirring the growth of the Indian surgical masks market.
Moreover, the future of the mask-making business in India is quite bright. It has a significant impact on women’s empowerment because many of the mask-making workers are women.
The contribution of women in the Indian economy would experience a boost.
The Necessity For The Business/Investment Required
Most individuals are well informed about the importance of investing in wealth, retirement, and savings.
But it’s also necessary for businesses to make the most out of their profits and savings by putting money into solid investments that will increase year after year.
This establishes—peace of mind and stability for your business. With so many corporations heading into bankruptcy, it’s difficult and critical to make sure your businesses’ profits are secured and in the process of growing, even without new customers.
The face mask-making business in India is picking up real pace, as the demand for face masks has outpoured significantly in the last few months.
MSMEs and small business owners have moved from their existing businesses and newly ventured into the manufacturing of all types of face masks to cope up with deadly coronavirus and to eventually earn better profits.
Currently, there is not much competition and not many face mask manufacturing units in India; however, they are being imported from other nations. This specific market division is yet to be explored and capitalized.
Therefore, business owners, entrepreneurs, and enterprises can choose for business loans, term loans, or working capital loans to start a new business or to adjust from their current business into face mask manufacturing units.