If lack of funds is the hurdle to starting your business then it’s best to start smaller. In actuality, some of the most prosperous businesses in existence today, started as side projects.
In our smart business idea project identification today, we are going to tell you about an incredible business that could be started with less capital but gives you a handsome profit. This is a low-cost, low-effort business, that requires little own contribution and has the potential to yield income in the lakhs. The fact that even housewives can start this business makes it even more special.
According to the Khadi and Village Industries Commission (KVIC) feasibility report, initiating a Gajak manufacturing venture requires a total investment of Rs 22.37 lakh, out of which you will be required to give Own Contribution of Rs 5.59 lakh. Over a period of five years, you can expect a net profit of upto Rs 14.18 lakh –in the fifth year.
Business Idea: Gajak Making Business
This is a well-liked traditional sweet snack from India. Jaggery and roasted nuts/sesame make this dessert very easy to prepare. Popular with people of all ages, this sweet is also nutrient-rich. We are discussing the business idea of making gajak! There is a huge market for gajak, so launching a gajak-making business will be quite profitable. Gajak could be made with advanced machinery and technology, as well as in the conventional manner. Under the Pradhan Mantri MUDRA Yojana (PMMY), the central government provides help to start the business. For the purpose of launching your business, you can also apply for MUDRA loans under PMMY up to Rs 10 lakh.
Business Idea: Requirements For Gajak Making
The Khadi and Village Industries Commission (KVIC) has prepared a report on how to start a gajak-making business and reap good profits from it. An approximate 2000-2500 Sq.ft total area will be required for a complete factory setup. It is anticipated that the space will be rented. Plant and machinery will be needed. Additionally, manpower and miscellaneous assets will be required for starting the business.
Business Idea: Cost Of Gajak-Making Unit
A feasibility analysis by the KVIC states that starting a gajak manufacturing venture will cost a total of Rs 22.37 lakh, out of which you will be required to give your own contribution of Rs 5.59 lakh. There will be Rs. 5.00 lakhs in working capital. The estimated annual sales turnover will be Rs 86.13 Lakhs.
Gajak Manufacturing Business COST OF PROJECT: Rs. 22.37 Lakhs
Particulars Amount- Land Own/Rented
Particulars Amount
Land Own/Rented
Plant & Machinery: Rs 14.10 lakh
Miss Assets: Rs 1.60 lakh
Furniture & Fixtures
Working Capital: Rs 6.67 lakh
Total = Rs 22.37 lakh
Gajak Manufacturing Business MEANS OF FINANCE
Own Contribution: Rs 5.59 Lakhs
Working Capital (Finance): Rs 5.00 Lakhs
Term Loan: Rs 11.78 Lakhs
Total = 22.37 Lakhs
Business Idea: Profit From Gajak Making Business
Making gajaks is a lucrative self-employment venture. Your gajak-making business can yield substantial profits. The KVIC report projects that the estimated annual sales turnover from gajak making will be Rs 86.13 Lakhs.
The KVIC feasible report giving a Five Year’s Projected Profitability Statement on Gajak Manufacturing Business said that in the first year you can see a net profit of Rs 2.31 lakh, Rs 5 lakh in the second year, Rs 7.47 lakh in the third year, Rs 10.79 lakh in the fourth year and Rs 14.18 lakh in the fifth year.
You can quickly take over the market if you are launching your product under a fresh brand and using contemporary technology in its production. You can make lakhs of rupees from your gajak-making business if you market it well. To market your product locally, get in touch with local distributors. Additionally, you can accept orders from stores and supermarkets to sell your gajaks.
(Disclaimer: This article is for sole information purpose and for readers’ project identification. The earning calculator is also mostly based on assumptive figures to give an example of certain type as mentioned by KVIC previous estimates. The Zee News article does not intend to give any financial advice of any sorts. For initiating any venture, you must do your own due diligence and market research.)