In the early days, two-dimensional printing was in existence. There was no concept of 3D prints. But those days are gone. The time to embrace the new and advanced technology has arrived. Because of the advancement of technology, the 3D Printing business has come into existence. In the traditional form of printing, only ink and paper were used. But 3D printers create amazing structures with a special or additive gum. In addition, the 3D printers also use glass, metal, plastic, and ceramic. The final result which comes as a final print is known as the three-dimensional printed object. The 3D printer produces the shapes and the objects by applying the layers on one another. There is no need to monitor the entire printing process, since the 3D printer is connected to the computer. The task of alteration in the designs is also easy, since you just need to change the data and feed it into the software.
The 3D printing business can offer many beneficial opportunities due to its tremendous growth in the market. The young entrepreneurs of India see the business of 3D prints as a brilliant start-up idea. But, to make your 3D printing business in India more profitable, you need to understand the requirements of setting up this business, the cost involved in it, its rules and regulations, and so on. Read this complete article to gain a clear understanding of the 3D printing business in India.
Did You Know?
All the 3D printed objects that you see have multiple printed layers just like an onion.
Research and Gain a Basic Understanding of the Business
Up to this point, 3D printing in India is in its early stages. Many traders and manufacturers of India don’t have all the necessary information that is required for the 3D printing business. The 3D printing business in India has still not taken the predominant part in the country. So, one must understand it in detail and its business model before getting started.
Gather Necessary Information Required to Start this Business
When you need to step into the 3D printing business, you must invest your time to learn the details like 3D printing business scope in India, the startup cost involved, the benefits of the 3D printing business, and so on. This research will help you to get clear about the perks of the business and the risks involved with it. This will also give you a deep knowledge of the 3D business and its operation.
Also Read: Start Your Digital Printing Business
Communicate with the Experts of this Industry
Just gaining knowledge about the 3D printing business is not enough. The real-world scenario is different from what you read and see. Applying the things practically is more important to gain more profits in the business. To analyse the real-world scenario, you must know about the challenges of this business. To make this task easier, you have to consult experts who are already working in the 3D printing business for a long time.
Choose the Best 3D Printer as per Your Requirements
Today, there are multiple kinds of business 3D printers available in the market. The imported 3D printers are on the higher end of the market, hence too expensive. Whereas, local 3D printers are available at a cheaper rate. The quality of the final product entirely depends on the printer that you pick for your 3D printing business. You can either purchase these machines online or directly from the distributors of a particular brand.
Acquire the Best Quality Raw Materials
The additives and plastic that is used for manufacturing 3D printers are mostly imported. You must discuss such raw materials from the 3D printer distributors. After acquiring a suitable 3D printer, you can easily start your 3D printing business.
Prepare the Sample Before Making the Actual Deliverable Product
Before manufacturing the product, you must make the samples. When your samples are ready, you must analyse whether they are ready to come into the market. It is useless to manufacture something that doesn’t suit the market needs.
Business is Incomplete Without Customer Feedback
Since you are doing the business for your customers, you must always take the feedback from them at regular intervals. You must listen to their problems and their requirements. When clients are satisfied with your products and services, you feel motivated to work harder. But when they are not satisfied with your products, you need to rectify them before moving on with your business.
Promote Your Business
The success of the business depends on the two most important factors, and they are the price of the product and its advertisement cost. If you keep the price of your product too high, you will fail to get customers. Without promoting your business, you will fail to develop your reach in the market. So you need to ensure the balance between pricing and promotion in your 3D printing business.
3D Printing Business Startup Cost in India
The 3D printing business is a capital-intensive business. It is advised that you must take credit from the bank to start this business. There are multiple 3D printers available in the market. The higher-end printers that are imported in the country can cost a minimum amount of ₹120000. Whereas, the 3D printers that are manufactured in our own country cost as low as ₹20000. You must also be aware of the cost of acquiring raw materials, rent, power, and space. So, on an average basis, a person needs an amount of ₹4 to ₹5 lakhs to start a 3D printing business in India. The Central Government has come up with various schemes to assist such startups. The banks provide loans with a low rate of interest to help beginning business owners.
Also Read: How to Start Mobile Cover Printing Business
Required Licences for Starting a 3D Printing Business in India
Following is the list of some important licences that you must have before starting a 3D Printing business in India:-
- Trade Licence: This licence is a must that you should have for attaining the government approval of your business.
- Primary Company Registration: This licence will help you to register the name of the company.
- VAT Documentation: It is mandatory to pay the value-added tax for every company. For this purpose, you must have VAT documentation to make the payments.
- Sales Tax Documents: The owner of the company has to submit all the relevant documents to the Sales Tax Office. This will help you to create representation in the books of the Government.
Problems that You Must be Aware of While Starting a 3D Printing Business
Apart from all the benefits and profits that the 3D printing business will offer you, there are certain problems that you may face in your journey. The problems are,
- Lack of understanding of software – You must be well aware of the usage of software to produce satisfactory 3D prints.
- Lack of awareness: You must research well about the technologies of the 3D Printing business since it becomes difficult to produce the desired results without having much knowledge about the technology used.
- Expensive 3D printers: To produce satisfactory 3D prints, you will have to invest a large amount of money in imported machines.
With the current economy of India, more and more startups are coming up that need the collaboration of the 3D printing industry. Business experts predict that the scope of the 3D printing business will double in the coming years. Many independent startups can come into existence by starting a 3D printing business in India. Whether you want to start the business of selling 3D printers or you want to tie up with other 3D printing industries, it will prove to be beneficial for your business growth. We hope that after going through this article, you must have got a detailed understanding of how to start your 3D printing business in India.