The continuously rising inflation in the country has affected the financial planning of the common man. Meeting daily expenses, children’s education, and future needs is becoming increasingly difficult with just a regular job income. This is why people are now looking to start a business alongside their job, one that involves low risk and offers the potential for good earnings with minimal capital.
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Searching for businesses that can be started with low capital
Most people worry about capital before starting a business. Large machinery, heavy investments, and marketing expenses leave many people’s dreams unfulfilled. But even today in India, many small-scale industries can be started at a very low cost and provide a stable income for a long time. One such business is incense stick manufacturing.
The enduring demand for incense sticks
Incense sticks are an important part of Indian culture and religious traditions. They are used throughout the year for prayers, in temples, homes, weddings, and festivals. This is why the demand for them never ends. Not only in India, but Indian incense sticks also have a significant demand abroad, making this business profitable from an export perspective as well.
How to start the business with Rs. 5000
The incense stick manufacturing business can be started with an initial investment of approximately Rs. 5000. The raw materials used, such as wood powder, charcoal, bamboo sticks, and fragrance perfume, are easily and cheaply available. Initially, production can be done manually, eliminating the need to spend on machinery.
Sales options from local to online
There is no shortage of markets for selling incense sticks. You can directly contact nearby shops, religious goods vendors, and wholesalers. Additionally, your products can be reached to customers through online platforms and social media. As your customer base grows, your brand recognition will also strengthen. Profits Increase During the Season
The demand for incense sticks increases manifold during festivals, the monsoon season, Navratri, Diwali, and the wedding season. Even small-scale businesses can earn significant profits during this time. Due to low costs and high sales, this business grows rapidly.
Branding Will Boost Business
Once the business is somewhat established, you can focus on your own branding and attractive packaging. With better fragrance, quality, and clean packaging, it’s possible to supply to shops and wholesalers in larger cities. With the right strategy, it’s possible to earn up to ₹1 lakh per month from this business.
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Government Schemes Provide Assistance
The Government of India is running several schemes under the Ministry of MSME to promote self-employment. The incense stick manufacturing business also falls under the purview of these schemes. Under the Prime Minister’s Employment Generation Programme (PMEGP) scheme, you can avail of subsidised loans to start your business on a larger scale. This will ensure that a lack of capital does not hinder your dreams.