How to Start a School Bag Manufacturing Business in Bangladesh
School Bag Manufacturing Business in Bangladesh
As it’s one of the great business ideas, you can think about starting a school bag manufacturing business in Bangladesh. That’s why you can consider the business so that you can be self-employed. When you’ll be self-employed, you’ll need not to run for a 9 to 5 job. Also, this is a profitable business idea that you can operate from your home.
This is because the school bag is one of the most necessary items for school and college going students. Because of its reasonable price and strength, it’s a popular item to office going people and travelers. Moreover, the production procedure has become very easy and production cost also low with the help of the school bag making the machine. It’s that has given a great boost to this business.
Why Start a School Bag Manufacturing Business in Bangladesh
It’s a very simple accounting when you’re going to start a school bag manufacturing business in Bangladesh. And that’s what the count of students in every city and district is very high with a population of over 160 million. Also, there are a great number of students who have started going to schools and colleges from rural areas over that with the increase in awareness.
Actually, the demand is not only high of the school bags but continues to grow every year as well. So, it’s expected to have a bright prospect of the school bag making business the reason to expect because of there is adequate demand. Besides, the competitions are still not so high in this industry. That means you’re more likely to be successful in this business.
Steps to Start a School Bag Manufacturing Business in Bangladesh
When the making of schools bags in the early times, there were very few types of material and they were usually made manually as well. However, the bag manufacturing process becomes very easy with the introduction of the semi-automatic heavy duty sewing machine. The job is not only become easy but requires very less labor for the same.
These all made it a lucrative small-scale business idea for many young people. But, it’s not as easy as it seems to be. It needs so many planning, researches, funding and many more things to make it profitable. Well, let’s know the essential steps to start a school bag manufacturing business in Bangladesh.
First Step: Business Plan
When your business plan helps you take a vague idea, it turns into a concrete plan. In the organization and management structure of your company should include a section. Moreover, consider including market research, the current purse and handbag market size along with customer demographics. Also, there is a financial summary and an estimate of the costs of running the business in a solid business plan.
On the other hand, as the school bag manufacturing business has many big-name brands, you may look for a niche you can fill. But, remember that the key to the success of a business idea is a business plan. This is because it comes with the full information about the steps and plans about how to run the business in a profitable manner and how to grow.
Second Step: Business Research
As you need to find out about the various aspects of the business in details, every business needs a thorough research. These include finding out the supplier of raw materials, the manufacturing process along with the necessary infrastructure and capital investment. Moreover, if you want to know the different pros and cons of the business, you need to plan in advance to tackle. Also, you need to find not only various aspects of the business but the supplier of raw materials, the manufacturing process along with the essential infrastructure and capital investment.
Third Step: Business Location
If you have the essential empty space then you can start the school bag making business at your home. Also, as you’ll have incurred taking a different place for rent or lease, it’ll save a lot of costs. Moreover, because you can take help from the family members, a business from home can also be beneficial. On the other hand, if you rent a space, you need money and extra employees to run it.
However, you need to set up a shop as your school bag exhibition so that buyers and users can see it to buy. In this case, you have to rent a space in a notable location that the shop easily gets visibility to the customers.
Fourth Step: Business Fund
You’ll calculate the total costs of the project that you need to invest for starting this business while researching about the business. In the case of finance, you may arrange it either from a bank or a microfinance organization. You can get financial assistance from banks without any collateral deposits with the introduction of the new government policies. What you need to do it just to submit a well-crafted business plan.
Fifth Step: Business Promotion
If you want to decide the quick success of your business then marketing promotion are the immediate steps to start. As it’s important to inform every possible client and customer of the school bag knows about your business, take extensive steps to promote the business.
Not only online but offline steps are essential to promote your business. When you have online clients, you can supply according to their demand. Also, you can get some other steps to promote your business, such as business cards, banners, flyers, starting a blog etc.
Sixth Step: Machinery and equipment
Among the prime requirement, you need an industrial sewing machine and tape braiding machine. Also, you need some other equipment, including working tables, scissors, hammers etc. Besides, you need a great scope to manufacture a high-quality product with materials available now in the market. Also, a variety of fabrics are used to make school bags to fulfill the demands of the customers. Moreover, you need yarns and other consumables as well.
Some Other Steps to Start a School Bag Manufacturing Business in Bangladesh
Although the above steps are much important, you can’t ignore the below steps. Let’s see what the other essential steps to follow for a school bag manufacturing business in Bangladesh:
- Keep networking
- Incorporate your company
- Focus on service
- Get necessary license and permits
- Become a part of the community
- Hiring Employees for your business