New Delhi: If you are looking to get into a niche business venture that also promises a steady income, there is one opportunity that might sound appealing to you. You can give a new dimention to your own earning by starting this business that has presence in urban areas – the Track Suit business.
These days, people have become very conscious of their health which has increased the number of gym goers, yoga enthusiasts. Track suits, widely popular among gym goers, are known for their exceptional comfort, making them ideal for workouts, running, and yoga. Experts emphasize the importance of comfortable attire during exercise, driving up the demand for track suits in both large and small cities. These versatile garments are usually crafted from materials such as cotton, nylon, or polyester synthetics.
The process of manufacturing track suits is straightforward and manageable. According to the Khadi and Village Industries Commission (KVIC) feasibility report, initiating a track suit manufacturing venture requires an investment of Rs 24 lakh.
KVIC has broken the Cost of Project into the following
Term Loan: Rs 16.43 Lakh
KVIC Margin Money: As per Project Eligibility
Own Capital: Rs 2.4 Lakh
Working Capital: Rs 5.18 lakh
Cost Of Project
Land Rented/Owned
Building & Civil Work (2000 Sq ft): Rs 2.50 lakh
Plant & Machinery: Rs 14.80 lakh
Furniture & Fixtures: Rs 0.50 lakh
Pre-operative Expenses: Rs 0.45 lakh
Working Capital Requirement: Rs 5.75 lakh
Total: Rs 24.00 lakh
Particulars Amount Breakup
Own Contribution @10%: Rs 2.40 lakh
Term Loan: Rs 16.43 lakh
Workign Capital Finance: Rs 5.18 lakh
Total: Rs 24.00 lakh
The KVIC feasible report giving a Five Year’s Projected Profitability Statement said that in the first year you can see a net profit of Rs 3.35 lakh, Rs 5.76 lakh in the second year, Rs 8.72 in the third year, Rs 11.46 in the fourth year and Rs 13.94 in the fifth year.
Additionally, if you are lacking initial capital, the Pradhan Mantri Mudra Yojana offers a solution by providing loans of up to Rs 10 lakh to kickstart non-corporate small-scale businesses in rural areas.
(Disclaimer: This article is for sole information purpose. The earning calculator is also mostly based on assumptive figures to give an example of certain type. The 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.)