How much are we dependent upon plastic? You can figure it out just by looking around you. From kids' toys to laptops and phones to household requirements, plastic is everywhere, reflecting the demand for this material in today's world.
There are numerous harmful effects, but we still can't resist using them. This material is very cheap, and there's a never-ending range of things that we can make using plastic. Almost all fields are somewhere down the line, depending on plastic.
You can set up a plastic manufacturing business if you have a robust business plan and a crystal-clear vision. It's also vital to keep in mind all environmental safety measures you'll need to take while running this business.
Besides taking care of the factory's wastage discharge to control the gas emission, there are many other big considerations.
Did you know?
In India, plastic manufacturing is a fast-growing multi-billion-dollar sector. Today, we've got around 30,000 plastic processing units, 15 large-scaled polymer manufacturers, 7,000 recycling units and around 1.7 million labour forming up the plastic manufacturing industry.
Steps Involved in Setting up a Plastic Manufacturing Company in India
Create a Plan
Many skills and a deep understanding of science are needed to set up a plastic manufacturing factory. You can gross great profits by setting up the right machinery, hiring skilled professionals and establishing a strong supply chain.
Online or Offline?
Fortunately, you've got two different ways of running your business in the modern world. If you've got the right skills and knowledge, you can start your plastic manufacturing business online.
Whether you want to drive customers organically (through search engines), or you're ready to do paid marketing, it is up to you.
If you decide to go online, you'll have to consider the following:
Ask these questions before getting started.
- What services will you offer, and what will be the terms?
- Where would you store your plastic goods?
In comparison, if you opt to go with the traditional style of business (offline), then you need to think of:
- How would you expand your reach and your saturation level?
- How big space do you need?
- What will be your arrangements for handout deliveries and transportation?
Go with the option that suits your skills and planning. You'll need investment in both cases, and you'll also have to be ready for bad days, as not every day is bright while doing business.
Also Read: How To Start A Plastic Recycling Business
Decide on the Size of Business
Only you know your knowledge level, financial strength, resources and goals. So, you'll be the best person to decide the size of your business. Remember, you're just starting. If you begin working on bigger than reality plans, you may suffer. Think about real-life possibilities, and start by establishing your business on a small scale. You can expand it with time.
Research Well
The plastic manufacturing venture demands good enough investment, and to avoid business blunders, you need in-depth research. Besides understanding the demand/supply chain, you should know the functioning of the market, possible chances of losses, what the opportunities are and so on.
Besides that, you'll need to think about warehousing to store plastic because, without maintenance, the quality may be affected. Equally important is understanding the government rules/regulations and subsidies, if any available. Also, look for types of loans if you want to start a business on a large scale but have a cash shortage.
Be an Expert
Starting any manufacturing needs adequate knowledge. In the plastic manufacturing business also, you should know the operation of machinery, raw materials needed, environmental harms and controls for the same, product supply chain and everything else. More knowledge means better decision-making most of the time.
Choose the Perfect Location
You can't simply open your plastic manufacturing venture in whatever location. Plastic is hazardous, so your main factory should be away from the city (maybe outskirts). Also, keep in mind the potential issues with the factory setup because once established, you can't afford anybody raising objections for your factory.
You need to ensure that the distance between your factory and warehouse is minimum. Also, check out that there is enough demand in the city to establish your factory. Your plant should also be at a minimum distance from the raw material suppliers. Check out whether water and electricity supply is enough to run your factory in the region.
Take Permits and Licence
Legal permission is mandatory before beginning any business because you don't want to invite any legal troubles once you begin your venture.
You'll have to register your business and complete all vital documents. This documentation may include GST registration, permits, licences, etc. Complete all vital paperwork by visiting government offices and consulting with the knowledgeable.
What are the Best Ideas for Plastic Manufacturing?
Air Bubble Packaging Wrapper
The air bubble wrapper for packaging is an important element in the packaging industry for its practical and affordable cushioning material. The increasing demand for electronic and other fragile items has left a huge space to fill the need for packaging with air bubble films. It creates a great opportunity for entrepreneurs who are just starting.
Acrylic Buttons Manufacturing
The demand for acrylic-made buttons is growing because of the rise in clothing designed for domestic use. This industry has seen significant growth over the last few years and is expected to grow in the years to come.
Blow Moulded Plastic Products Manufacturing
Thermoplastics such as High-Density polyethylene (HDPE) Polyvinyl Chloride (PVC) can be blown-moulded into various dimensions and shapes. Popular items made from blow moulded plastic include buckets and mugs, jugs and other household items. Small plastic items made using the blow moulding process can be an effective business opportunity.
Plastic Carry Bag Packaging
The production of plastic bags for carrying procedures is easy. The use of polyethylene bags to pack items is increasing every day. Polythene bags are useful throughout the day, with every household using them to serve as storage and packaging.
Disposable Plastic Cup Glass Manufacturing
Because of the change in the lives of the urban middle class, the need for disposable cup ware is growing at a rapid pace. The ice-cream industry, restaurants, hotels and canteens use disposable plastic cups extensively. The manufacturing process is straightforward and can be started on a small or medium-sized scale.
Plastic Toothpicks Production
Plastic toothpicks are extremely convenient for picking teeth. They are used extensively in restaurants and hotels. You can manage the unit that manufactures them based on a semi-automatic or fully automated method.
PVC Coated Electric Wire
The coated electrical wires made of PVC are useful for home appliance home wiring, wiring and interior wiring of lighting in factories electrical power for automation. For example, they are useful in offices, submarine mining, ship wiring applications, etc., because of their high tensile strength, high conductivity, more flexibility and ease of joining.
The Making of PVC Containers for Battery
The manufacturing process for battery containers is straightforward. A small-scale production unit can be economically profitable. It is possible to start manufacturing operations from your home-based model too.
Also Read: Want To Start Fancy Store Business?
Storage Tank for Water Storage Tank
Plastic tanks possess several advantages over steel tanks made of traditional materials. They are constructed seamlessly, which gives them more impact strength and better resistance to corrosion, rust and fuel additives. Water storage tanks are among the most profitable plastic products manufacturing companies in the polymer and plastic business.
Drinking Straw Manufacturing
Drinking straw is among the most useful items in the soft drink industry. The manufacturing process of drinking straws is simple. Also, you can start manufacturing it on a micro and small-scale basis. Also, not a huge investment is required in this manufacturing. You can create plastic drinking straws at home as well.
Conclusion
Setting up a plastic manufacturing company without the right knowledge of the requirements and demand can be cumbersome and may fail. Spend at least some months in knowing ins/outs and panning consolidated. Also, you should use the latest online transferring methods to stay active with your clients' bills and other money-related information.
Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.
