How to Start Belt Manufacturing Business in Bangladesh
Belt Manufacturing Business in Bangladesh
Belt manufacturing business in Bangladesh is another one that’s one of the most profitable business ideas in Bangladesh. And another great reason is that there is an abundance of raw materials along with cheap labor and machinery for this business.
Also, this fashion accessory has a huge demand for both in the domestic and international market. Because more than 10 % of the global raw material is available in Bangladesh and this is the way that the leather belt manufacturing business has a great export potentiality.
That’s why belt making is an attractive business opportunity to capitalize on the opportunity if you’re looking for a small-scale manufacturing business opportunity which requires moderate investment. Besides, the leather belt manufacturing process is not only simple but the manufacturing operation doesn’t demand a lot of space as well.
Why Start a Belt Manufacturing Business in Bangladesh?
As it’s said that a leather belt manufacturing business is one of the many businesses that can be started in any part of the world. Also, the business has one of the great things that the owner of the business can still penetrate the world market if their design is good and it meets a need in the fashion market.
This is because there is a high demand for quality and fashionable belts whether they are old or young, male or female. And Bangladesh is one of the best places to set up the business due to its low wage manpower along with a huge supply of local material like leather etc.
So, those who intend starting a leather belt manufacturing business, they can start the business from their homes on a small-scale and service a customized market, or big.
Related: 10 Best Manufacturing Business Ideas for Bangladesh 2019
Steps to Start a Belt Manufacturing Business in Bangladesh
As a fashion accessory, the leather belt is an accessory which is used by both male and female on daily basis. It’s such a compulsory item of their clothing that keeps the pant fixed on the waist in case of school-going children and men. In all over the world, it has a great demand irrespective of age and sex. But, the manufacturing process and getting success in a belt manufacturing business is not so simple to think.
There are some definite procedures and processes to follow like another business venture. That’s why if you want to start the business then you must follow all necessary steps from business plan to marketing strategy.
After that, you can make good money and that may take a few months to a year. Now, let’s know the steps to follow while starting a belt manufacturing business in Bangladesh.
Belt Manufacturing Business Plan
While starting belt manufacturing business, crafting a business plan is very important. As you need to determine what type of belt buckles you will be made initially, you need to do some market research prior.
You’ll find a lot of types of belt buckles are available in the market, including frame-style, plate-style, box-style etc. You need to calculate the same if you’re planning to start hiring manpower.
Also, if you calculate the expected revenue return then it will definitely give you the confidence about the business feasibility and will also help you in arranging finance. Besides, a solid business plan also includes the answer of some “What” and they are-
- What your target niche will be
- What your marketing strategy and expenses will be
- And what your business objective will be
- Finally, what your business mission statement
Belt Manufacturing Business Market Research
Before starting any kind of business, a detailed research is a must to take a step. A lot of factors about the business explain through market research. In this case, before starting the belt manufacturing business, make a complete list of points that you need to check and find out.
There are some basic things that you should include in your checklist, including:
- Market potentiality of the business
- Competition in the market
- Pros and Cons
- Market and customers
Belt Manufacturing Business Location
The location of your factory doesn’t have a much impact on your sales as the major customers for your business will be either wholesalers or retailers and not direct users. So, since it creates much noise, it’s advisable to locate your business away from the residential areas.
Also, your neighbors may not accept this issue and you just need to take a few things into consideration such as-
- Proper power supply
- Water supply
- Ease of transportation
- Availability of laborers etc
Belt Manufacturing Business Training
It’s required that you have the complete knowledge and skill about the same for starting any business. And you need to have the knowledge about different types of leathers and the color combinations for starting a leather belt manufacturing business.
Also, you should have or get training regarding the belt manufacturing process and the operation of machinery and equipment’s used in the manufacturing unit. So, if you visit some of the leather belt manufacturing unit to gather some hands-on information it would be better. In this concern, you need to have knowledge of-
- Production procedure
- Choosing and sourcing of raw materials
- Quality controls
- Standards of leather belts etc
Belt Manufacturing Business Raw Material & Machinery
Chrome tanned upper leather and split upper are the major raw materials of the belt manufacturing business. The business also needs some other materials like the buckle, thread, solution etc.
Among the machinery, you need-
- Upper Leather skiving machine
- Strap cutting machine power operated
- Side creasing machine
- Single Needle flatbed Industrial Sewing Machine
- Hand tools and other necessary equipment
Belt Manufacturing Business Promotion
You have to spread the words that “you’re starting a belt manufacturing business” with all possible ways. From day one of the business, it’s always suggested to start taking the promotional step. In this case, you should check the Project Report for this business. And if you want to do this, first create your marketing tools like business cards, brochures, catalog etc.
And those who have requirement of personalized belt buckles, simply you can contact them. Apart for these, you can also do things like-
- Presence on the online marketplaces
- Enlist on the Yellow Page
- Make your own website
- Consider using social media
Some Other Essential Steps to Follow
- Arrangement of capital
- Trade license
- Registration of business
- The leather belt manufacturing process
- Hire workers