Mudra Loan: In today’s world, every young person wants to stand on their own, but the fear of a large investment often comes in the way. To ease this challenge, schemes like the Modi government’s “Startup India” and “Mudra Yojana” are no less than a boon. With just ₹15,000 in initial savings, you can start a timeless business that is in demand in every household and farm, from cities to villages. Not only is this business low-risk, but the government also provides training and loans at very low interest rates. In this article, we will tell you about a unique business idea that can start generating profits from the very first month.
What is this magical business
We are talking about the small steel and iron tool and cutlery manufacturing business. This is a business whose products are a part of everyone’s daily life. You can manufacture three main types of items. First, cutlery, which includes spoons, forks, and knives. Second, hand tools like pliers, hammers, and screwdrivers. And third, small agricultural equipment like hoes and sickles.
The specialty of these items is that their demand never ends. Whether it’s a kitchen, a garage, a factory, or a farm, these tools are indispensable. This is why you’ll never run out of customers for this business.
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₹3.3 Lakh Project
The total project cost for starting this business on a small scale is around ₹3.3 lakh. Don’t worry, you don’t have to pay this entire amount out of your own pocket. Under the government’s start-up policy, you can get a large portion of this amount as a loan. Machinery and setup cost approximately ₹1.8 lakh, which includes equipment like a welding machine, drilling machine, buffing motor, and grinder.
The remaining ₹1.5 lakh is earmarked for raw materials. You only need to invest an initial capital of ₹15,000 to ₹20,000. With this small investment, you can produce approximately 40,000 cutlery items and thousands of hand tools each month.
Earnings and Profits
The profit potential in this business is quite attractive. According to the project report, if you manage production efficiently, your monthly sales can reach approximately ₹1.10 lakh. After deducting production costs like raw materials, electricity, and labor, you’ll have a gross profit of approximately ₹18,000.
When you subtract your loan EMI (which will be approximately ₹2,340) and other miscellaneous expenses from this profit, you’ll be left with a net profit of ₹14,500 to ₹15,000. This income represents a fantastic return on your ₹15,000 investment from the very first month. As your market presence strengthens, you can double or even triple your earnings by increasing production.
How can you start generating income in the first 30 days
The biggest strength of this business is its high demand. Since these are everyday items, they never run out of stock. As soon as a spoon or hammer is ready in your unit, you can sell them immediately at local hardware stores, utensil shops, or weekly markets.
The production process is fast, so your money doesn’t get stuck in the market. As soon as the first sale happens, your money starts flowing in. That’s why you don’t have to wait months for profits; instead, you start earning within the first 30 days.
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How to Apply for a Loan
If you want to embark on this exciting journey, the Pradhan Mantri Mudra Yojana (PMMY) is a great help. You can apply for a loan for this business by visiting any government or private bank. You will need your Aadhaar card, residence proof, and a basic business plan (Project Report). The government not only provides funding but also provides training on how to operate these machines through “Skill Development Centers.”