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Incense sticks are in huge demand in both domestic and international markets. Capitalising on this demand to start an agarbatti business can be a lucrative venture. Incense sticks not only hold immense cultural significance but also come with substantial economic potential, making them an attractive product for entrepreneurs.
However, to ensure the success of your agarbatti business, it is crucial to create a well-crafted business plan. This plan will serve as a roadmap, helping you navigate the various stages of establishing and growing your business. A solid business plan is also essential to make informed decisions, manage risks, and capitalize on opportunities to grow your business.
Agarbatti or incense sticks are one of the most commonly used products in Indian households for prayer and offering. It is a simple yet profitable business idea to start with minimal investment. In this article, we will discuss how to start an agarbatti business and prepare a basic business plan for it.
To start your agarbatti manufacturing process, you need to follow these steps:
Maintain proper books of accounts to track revenues, expenses, profit/loss on monthly/annual basis. This helps in financial planning, availing tax benefits and addressing issues if any. Avail GST registration benefits. Explore growth opportunities by applying for business loan rates and charges for working capital or expansion needs. Hire services of chartered accountants for compliance and advisory roles.
Running an agarbatti production business requires diligence at each stage from supplier relationship to last-mile delivery. With focused marketing, continuous quality enhancement and leveraging available financial support policies, it has potential for stable revenues as well as business scalability over the long term. Proper financial planning and compliance management is key.
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Business Loan | 27 Aug, 2024
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Business Loan | 26 Aug, 2024
During the entire loan term, we didn’t face any issues with loan servicing from Tata Capital. Would definitely like to take a loan in the future if needed.
Business Loan | 21 Aug, 2024
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Business Loan | 13 Aug, 2024
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Business Loan | 02 Aug, 2024
Thinking of expanding your business? Want to take your business to new heights? From expanding your operations to upgrading your equipment, Tata Capital has got your back! Let Tata Capital business loans fuel your entrepreneurial spirits and help turn your business dreams into reality!
To start a small-scale Agarbatti business, you may need an initial capital of Rs. 50,000 to Rs. 1 lakh.
Here are the steps required for agarbatti manufacturing:
You can sell your agarbattis to retail outlets, general/kirana stores, religious outlets and other small shopkeepers. Alternatively, you can also sell on e-commerce platforms to reach a wider audience.
The various divisions of the making business include manufacturing, drying, packaging, and storing.
The basic requirements for starting an Agarbatti manufacturing business include creating a business plan, securing capital investment, registering the business, and obtaining all relevant licenses.
To start an agarbatti manufacturing business, you need the following licenses and permits:
You can source raw materials for Agarbatti production directly from suppliers or local procurement.
Agarbatti products have a good market potential with significant demand in both domestic and international markets.
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