How To Start a Tiffin Business In India And Ways You Can Expand It

Posted by JC White on in Business in India 5 Comments

Question:

Dear Sir!

Please accept my heartfelt thanks for your expert guidance. I would like to take this opportunity to share one of my business ideas with you and elicit your views regarding it. I live in Visakhapatnam, the second largest city in the state of Andhra Pradesh. I own a bakery business and now plan to extend it to food.

Visakhapatnam abounds in industries and few SEZs like autonagar, pharma city, Apparel Park etc. As most of these companies depend heavily on local messes and parlors, I plan to cash in on the existing gap by supplying

  1. Lunch directly to their tables
  2. Sell lunch packs from a small kiosk either at the entrance of SEZ or at nearest area.
  3. Introduce special take away lunch packs like high fiber diet or healthy ayurvedic diet etc.

I solicit your expert opinion on:

  • How to start up?
  • How to approach companies and customers?
  • Where to get such type of packing material?
  • What are other things to consider?

Srikanth K – Proprietor

Bunny’s Pizza Cafe & Amp; Bakery

Opp. Vizag Steel Gate,

Kurmannapalem

Visakhapatnam-530046

Answer:

Since that you already own a bakery business, you are in a position of strength.

Your knowledge of the the trade can help you immensely in extending your food business. However, what is important is to plan out your moves in a systematic manner. Here on, it’s a step by step effort and remember every step will count.

How To Get it Started?

First, decide upon what food items you would like to introduce. Since that you are taking on existing competitors, you need to offer something new and innovative to lure away customers. Decide on what to offer: food at lesser price or more quantity at the same price. Next, think about what freebies you can offer. For instance, a free sweet item with every lunch packet! Hit upon new plans to spread information about your new food business. Take a call on whether it has to be posters or a campaign mounted on a vehicle.

How To Approach Companies And Customers?

In order to approach companies, you need to seek an appointment with the HR representatives. Sometimes, you may fail to get an appointment. In that case you need to send them emails drawing their attention to your business and soliciting an appointment for further discussions. If possible take the help of an insider to get an early appointment. Once the meeting is set, it’s all your game. You need to come out with a matchless presentation to showcase why your venture is the best and in what ways you guarantee top-class services.

Your credentials as a reputed bakery owner will stand you in good stead. When you approach companies on this basis, they will give you a patient hearing and will consider you seriously. Most companies attach importance to the following:

  • Hygiene
  • Presentation
  • Taste/quality
  • Customer service
  • Timely Delivery

So be prepared to counter questions related to these aspects of your business. Satisfactory answers can help you clinch the deal.

You can leverage your bakery business to spread awareness about your new venture amongst existing customers. And creating awareness amongst them can be pretty easy, as they would be more excited to learn about it than strangers. Print a leaflet or a brochure and distribute it to them. They would refer to it with great interest and come back with loads of suggestions.

Where To Get Packing Material?

Packing plays a crucial role in determining the prospects of your future business. Just as shoddy packaging can push your business into doldrums, the right kind of packing can do wonders to your business. And if you target the Autonagar, Pharma city, Apparel Park and IT park of Vishakapatnam, you cannot turn a blind eye to this aspect of your business.

To start with, go for packaging which is attractive but costs less. Seek an appointment with the packing material manufacturers of the city. Discuss with them the cost of the layout you have designed and bargain hard. Cross verify it with other manufacturers. This would give you a good idea of the prevailing market rates. Some well known packing agencies in Vishakapatnam are:

Avanti Business Machinees Ltd

  • Primula Flexo Pack Ltd
  • Sai Bhaskara Packaging
  • Sri Vinayaka Enterprises
  • Arunodaya Poly Films
  • Packings ‘N’ Packings
  • Paybin Packing
  • Pragati Print Pack Ltd.
  • Shree Paper Packing Products
  • Sri Shyamala Packings & Generals
  • New Fashions

 Other things to consider

Having a Website can do a world of good to your food business.  Organizations find it easy to liaison with such enterprises. Besides this, you need to catch on with the latest online marketing trends. It pays to have your own facebook and twitter community. Sending personalized messages to customers via emails can help you build personal rapport with customers.

Create a brand for your business. Branding plays a key role in entrenching your business. Go the whole hog to create branding awareness. This you can do by sponsoring social events like hosting a polio program etc.

Doling out gifts or gift offers on important occasions is a good marketing strategy. This may include anything, from small fancy gift items like lunch boxes, gift lunch coupons or even buy one get one offer.

Requirements to Start Supply Chain Management Business In India

Posted by JC White on in Business in India 3 Comments

Question:

Hi, this question is regarding starting my own supply chain firm in India.

Myself Gopinath, I am basically a civil engineering with MBA graduate.

I always wanted to start my own business and was never been much interested to Job, So I decided to get basic knowledge about business and I migrated to Dubai. It is been 3 years, I’m working in a trading and manufacturing company. Basically it’s a group of company, there are around 10 companies under this group.

Here I got a chance to work in 3 of its companies, in different roles as sales, purchase, logistics, administrative coordinator.

I learnt basics about sales and supplier relationship, sales and purchase techniques and now I have good knowledge about logistics.

I have an idea of starting a distribution and supply chain company in India, I am already having some suppliers in hands for few products and buyers as well.

It is about consumer products. I have a plan to expand the same after studying Indian market condition and requirement.

Also, there are few friends of mine who are residing in foreign countries and they are also ready to join hands to expand this supply chain business.

Now need your advice to getting a license and other procedure to start a small level distribution (supply chain company). Please provide information to start the other procedure.

Answer:

To start supply chain company in India you require following things.

1. Company Registration: You will have to register a company like other businesses do. there are multiple ways for registration..

— Sole Proprietorship: Not much formalities are require for this, all you have to go to local municipal office and ask them for registration formalities.

1 thing to keep in mind here, if you think business turnover will exceed 10 Lacs per/annum, you will need to register for a TIN (Taxpayer Identification Number).

— Partnership: Here all partners in company need to sign partnership deed. You can consult any CA (chartered accountant) in your area, he will guide you through the procedure of registering partnership firm.

— Private Limited: This is recommended option because I think in Supply Chain business turnover is going to in lacks, registration of Pvt limited is lengthy than any other registration. There is a special requirement for auditing and accounting.

Here too, any CA in your area can help with Pvt LTD registration. Keep in mind that cost of registration can be anywhere between 30k – 50k INR.

What I think, you should start with sole proprietorship, as and when your business expands, you can think of going for Private limited.

What Business to Start with $ 50,000? 3 Options to Choose From

Posted by Major William on in Business in USA 0 Comment

Wish to know how to augment your income with $50,000 in hand?

There are quite a few ways to go about. Starting a promising business is not bad, provided you have an aptitude for it. If you are averse to collecting monthly interest and instead would want to see your money grow by leaps and bounds, you can go for either of these following options.

  • Stock market can be a good option if you are willing to take risks. All you need is a bit of financial acumen. The safest way out is to create a portfolio. Invest certain amount in slow moving bonds, a part of it into futures and commodities, and remaining into the unpredictable market. If you can somewhat anticipate when the stocks would tumble, you can swim against the odds comfortably.
  • Internet business is another good option. If you are net savvy, you can come across multitude of businesses possibilities. You start and propagate your business on the net and get prospective clients on the net. No investment costs whatsoever and no running around or aggressive field marketing. Given the low cost of maintenance, wide reach and high returns, a stable internet based business can arguably be the easiest way out. Which business to start with, is something, which you can learn from the net. Search engine optimization, online marketing strategies like maintaining customer relationships, content churning are some good options. Surf the net for many more such ideas.
  • Real estate can also be a wonderful option. Buy a property in an upcoming area within your range and sell it off as demand rises. You can make a lump sum effortlessly. Finding the right property in the right area matters the most. Again, you need to bring your discretion into play. However, to take home the returns, you need to bide your time. The wait, however, is worth it.

If nothing but a shop interests you the most, go for a franchise business. Having an outlet of McDonald’s, KFC or Dunkin Donuts can be a good way to launch yourself, in a hassle free business. With a franchisee business you don’t have to start from scratch. Moreover you are protected from failures as you, at all times, will be propped up by the parent company.

Though these are some the businesses that you may consider choosing, there are many available options. What you decide to take up should be based on your liking, aptitude, knowledge and physical ability. The final is yours!

Medical Tourism Business Opportunities In India: What All You Need?

Posted by JC White on in Business in India 1 Comment

Question:

Kerala is the land of Ayurveda and has good prospects in medical tourism business. If we provide good and efficient services to tourists coming to India, we can reap really develop this business, this can indeed bring good ROI.

But the key to win is an “effective marketing” of these services, it is very important that you market this strategically.

One thing is proven that Ayurvedic remedies can be manufactured in India, with lesser costs and high profit margin, but at the same time quality and efficiency is to be ensured.

I have a very good business plan to get this started and I am looking for someone who is reliable and capable to invest in this venture. I am fine with Citizens of UK, USA, Russia and India.

  • I also need to know how to market this business effectively? What is the approx cost for this?
  • What is that x-factor, which will keep customers coming time n again?
  • Can you give us name of some businesses who are already in this space? So, I can study them and take a note of good points.

Answer:

Good that you shared this idea on Professionz, we have very good audience base, who are either already businessman or looking to become an entrepreneur. I would like to share some points from my-side on this.

Medical tourism is a good business, but as you said marketing is the Key. But I would say more than a marketing its customer experience you provide, because this is something that will always develop on word of mouth.

When you are looking for foreign customer, you need to take utmost care of cleanness, traveling and stay.

There are many health centers in South who are really doing well, one of them is ARYA VAIDYA SALA based out of Kottakkal.

Anyways, the post is live now, whoever is interested in starting this venture, are most welcome to post their comments below.

How To Tell Your Clients About Increased Rates Without Losing Him?

Posted by Major William on in United States 0 Comment

Telling your clients about a price hike is never music to their ears. An announcement to this effect is always met with resentment. After all shelling out more pinches everyone. In today’s world of cut throat competition, conveying a price rise can upset a client to the extent of severing ties. After all there are many who are willing to offer the same services at a lesser price. Does this mean you shouldn’t increase your rates? The answer is an emphatic no. Increasing rates, in today’s world, calls for a lot of tact. It should not look or sound highhanded and one-sided. It should take into account other extraneous factors. And most importantly, a price hike should be conveyed in a way that would not jolt customers out of their senses.

A price hike should not come out of the blue. If so, a customer will react sharply to the news and begin to entertain thoughts of discontinuing. There can be no substitute to preparing a client for the impending rise. Do so while signing the contract, or if the rise is necessitated by a sudden development, present the bigger picture before the client. Make sure the client can relate to what you have to say. When a client isn’t blind sided by the information, he is more empathetic towards a sudden price hike. It is also important to make sure that the increase doesn’t take costs beyond your clients reach.

Increase in fees must take into account extraneous factors like the clients economic condition. Business is all about building relationship and rapport. Having a good understanding and sustaining it is far more important than earning a few extra bucks. Taking a clients sensitivity into account can benefit you in more ways than one.

If a hike is on the cards, make sure you put the client on prior notice. Giving your client adequate time to adjust with the rise, helps him tailor his accounts accordingly and also provides him some breathing space. He gets to understand that you are not insensitive to his plight and thereby end up sending your right intent across. In the process you also provide your client with the option to seek alternatives and thereby part on a good note. This in turn leaves the door ajar for a future comeback. On the contrary if the price hike leads to a bitter parting, you won’t get a chance ever again to work with your client.

Increasing business price calls for a lot of tact. Your approach needs to be well calculated and properly measured.

Why Do Business People Use MS Excel? Reasons it Dominates Other Apps

Posted by Major William on in Tools 0 Comment

Excel is an integral part of Microsoft office suite. Its powerful functions has become an integral part of every business operations. So much so it has also become an integral to ones way of life. .

Why is it that that people are heavily dependent on this application? What is it that makes it so indispensable?

The Answer is…

  • Excel comprises individual worksheets for creating lists and spreadsheets.
  • It comes with such varied functions that creating lists, maintaining data or records or even scheduling becomes extremely easy.
  • Imaging converting any data into a pie chart or a bar graph representation with just a click of the mouse.

To Give you an Example…

  • Let’s consider a weekly conference room resource schedule as an example. It is very easy and handy to create a resource schedules with Excel. You can color code it and set it up to update itself automatically with every change of schedules. You can have the headings of each column named by the day and the rows based on time span. The first column may have Monday as the column heading and time slot, say 10 am– 11am as the row name. Thus you allocate different timings for different departments and pass on the sheet to the respective department to ensure every department is aware of their respective schedules. Can there be a better way to avoid confusion?
  • Lets consider the use of excel sheet in basic account. There can’t be a better application for checkbook ledger. After entering debit and credit figures you easily convert the entries into a pie chart to get a complete overview of how it went for you in a particular week or month. If you want to compare the expenditure figures of a few months, convert it into a bar graph, with each bar representing each month. And all this can be instantaneous. Likewise you can track product changes with excel on a monthly or quarterly basis. With a correct idea of the upward and downward trends, you get to know in which direction your business is heading. A detailed chart can also help you see your return of investment whenever you want.

When it comes to list making nothing can beat excel sheet. This feature can be put to a variety of use. For instance, if you wish to create a database of your customers, excel sheet is your best bet. You can endlessly add names and other information. When it comes to finding someone out, you wouldn’t face the proverbial needle in a haystack situation. Do a Ctrl + F search and pull the name out in a flash. You can go on adding fields without affecting the layout in possible way.

Given the many ways in which it can be put to good use, its doubtful whether excel sheet will ever outlive its utility.

Importing And Selling Non-Renewable Energy Products And Services in India

Posted by JC White on in India 2 Comments

 

I want to start my own business in India.

I want to start with trading (importing and selling) of non renewable energy products and services. I also want to represent some companies and their products as their dealers here in India.

So should I register myself as a PVT Ltd Co. with import export license, or should I exclusively register myself as a Trading PVT Ltd Co. ? I am a little confused here as I would in future want to start providing my own products and services in this domain.

Please Advice. Thanks in Advance.

 

Answer: What I understand from your question is that you already have contact in foreign countries and to start with you want to sell their products in India. Well, Its a good idea. It is better you register your company as a private limited, and then you can obviously sell your own products under that entity.

You can go to the official Indian government site for more details about registration process. http://india.gov.in/howdo/otherservice_details.php?service=19

You will definitely need an import license from local authority to legally import goods from other countries. Export license will be only required if you are planning to export from India to outside countries.

Few points to keep in mind before you jump full-fledged…

  • Do proper market research/survey to understand demand for products you are going to import.
  • Understand profit margin in this field…
  • Do study local competitors and their products

I am not sure about how you have setup finance and payments, but do proper study of overseas payments, there is something called “Credit Note”, which is very useful when you are importing products in India and require credit from seller.

Dollar rates to keep in Mind: As you are importing, every Rs.1 increase in dollar rates will directly affect your profit margin. There is something called “Hedging”, which protects you from fluctuation in currency rates. All these big companies like Infosys, Wipro etc does implement this.

Hedging simply means you fix the dollar rates,  for e.g. Rs.50 per $1. Now even if it goes to Rs.55 you will get paid Rs50 and if it goes down to Rs.45 … you will still get Rs.50 per/USD.

Let me know if you have any more queries, You can use comment form below.

 

What All You Need To Open And Setup Your Bicycle Repair Business?

Posted by Major William on in Business in USA 0 Comment

Bicycles are making a huge comeback. In countries like Norway, it has once again become the main means of transport. Given the rising costs of gas and impending scarcity, most countries have realized that falling back on this mode of transport can be hugely beneficial both to the economy and the environment. With bicycle all set to take over from other means of transport it is time you contemplate starting a bicycle repair business of your own.

Like the simplicity of a bicycle, a bicycle repair shop requires simple tools and a small working space. Investing in all of these would cost you almost nothing. Learning how to repair a cycle is no rocket science. All that it requires is a passion for biking and keen interest in watching and learning.

But, How to get in To This Business?

  • However, to get started, it is advisable to gather some good knowledge about the subject.
  • Joining a tech training school can be very helpful. If there isn’t such school nearby, you can always get to teach yourself. A technical manual can be your best teacher. It serves as a quick reference – something on which you can fall back upon every now and then.
  • Reading about bike repair in the web can also be very helpful. After picking up the basics, you can get down to the technical aspect. This can give you some hands on experience in bike training.
  • Start with your own bike. Dismember it to the bearings. Then put it back together. Once done, take a ride to see if it’s okay. If it is, you have cleared out the first round. It is only after many such rounds of rejoining, that you can master the concept behind a bicycle.

What all You need?

  • Before you get down to this, keeping some basic tools ready can prove handy.
  • Some of the tools include…
    • Good tire pump
    • Tire spoons
    • Wrenches
    • Pressure gauge
    • Chain breaker tool
    • Spoke wrench
    • Screw drivers
    • Allen keys
    • Wire cutters
    • Adjustable pliers, etc.

But remember, as you get on to the job you would need a lot more.

Now, How to Attract Customers?

  • Once you learn the trick, its good if you repair a few cycles for no cost or may be at a far lesser cost. This can benefit you in two ways. Firstly, it provides you with the chance to hone your skills with less accountability.
  • Secondly, there can’t be a better way to market your new business. Once you become more proficient, and win the trust of your customers it’s your call all the way.

As far as finance is required, I think this business does not require hefty investment, you can do savings from your job for about 10-12 months and start this business.

How To Find A Company’s Address From a Phone Number? 3 Easy Ways

Posted by Major William on in United States 1 Comment

You don’t have the company’s address but only the phone number? Are keen to find their address without ringing them up?

Don’t worry, it’s possible. In today’s world of internet communications, it takes nothing to find more about something or someone. A phone number is enough to track down a company and learn a lot more about it.

What Other Info Do you Get with Just Phone Number?

  • You can learn about the company’s history
  • Its past and present CEO
  • Areas in which it specializes, related questions and even white paper and case studies on the company’s field of activity.
  • Other peripheral information which you can ferret out from the net includes directions to the place, means that can take you there, nearest landmark, nearby stores as well as its competitors.

3 Ways To Find Address of a Company With Phone Number

  1. Start your Google search with whitepages.com. This site is designed to provide you the required information. Once you land in the home page of this site, select the “Reverse Lookup” tab. Type in the company’s phone number into the blank field of the Reverse Lookup textbox. Click the “Find” button and the search results for the particular company will flash before your eyes. One good thing about this search is that it doesn’t depend on the phone number format.
  2. The yellow pages is another good site to carry out your search in. Visit www.yellowpages.com. In the navigation you will find the tab “Find a Business”. Select it and then click on the “Phone Number” link. Type the phone number of the company you are looking for and click on “Find’. The name and address of the company will be displayed. Make sure you type the area code of the place. If not, it may fail to locate the company. This site also provides you with the option to click to find a direction map to the company.
  3. Another good place to look for the company address is in Better Business Bureau’s website. A good company will have its name enlisted with the bureau. Go to www.bbb.org/us. Click on the tab named “Check out a Business or Charity” button. Next select the “Phone, URL, Email” tab and type the organizations phone number in the field box. Click on the “Search” button to initiate the search. The address will be displayed if it’s in the database. If not, it will throw up the info “No results found”.

Finding out addresses with phone number has never been as easy as it is now. Only that, you have to have the number correct.

Starting a Wedding Gown Business? Keep These Few Things in Mind!

Posted by Major William on in Business in India 0 Comment

If you have an aptitude for dress design layouts, then wedding dress business, is where your calling lies. Getting connected with designers and sharing your concepts is one good way to make a beginning in this field.

You might argue that starting a business in this field might be enough to get onto this business? But starting a business is just not what it is all about. If you wish to thrive in this field, you need to cash in on your aptitude and know the ins and outs of the market. When you get associated with other designers and cloth suppliers, you get into the core of the business. This helps you get a complete understanding of how the industry works. Soon your business grows deep market roots. When you know your business like the back of your palm, you can carry out dealings with a lot more confidence.

Flow with the Trend…

Apart from good dress design concepts it is important to have an idea of what is in vogue. Blending these two, you can successfully start your business. Keeping pace with the fickle bridal fashion trends may throw a big challenge. You can take the challenge by the horns only by being on your toes. Like any other business good public relationships also matters a lot. You need to cultivate cordial relationship both with the bridal gown retailers to ensure your products always have a place on the rack.

Before Starting….

Before you set up a business, carry out market research about the business as a whole. Visit retailers and manufacturers and try to take a measure of how they are going about. Acquaint yourself with American and European designs. Get in touch with design specialists and develop a good understanding of the difference in quality of the dress materials. Try to find out how one retailer distinguishes himself from the other and what does he do to make his products unique. Give your concepts a try, after discussing them with designers. It would do you a world of good if you gain some experience by working under an ace designer.

Location of the Store…

Having your shop in a good location matters a lot for your wedding gown business. Make sure it is located in a down town area between other retail shops. Go for some cost effective advertising like distributing pamphlets outside churches or big social gatherings. Online marketing is a good advertising medium. If you cannot afford to have a shop in a prime location you have the option of starting an online store. You can display all your collections in an attractive way and showcase your creative skills very effectively. If your creations have the potential to stun people, there is no reason why your online bridal business shouldn’t thrive.