Market research before starting a manufacturing industry is paramount. A profitable approach to start a business would be primarily to understand the needs of the market, and to design a product suitable to the market. The market research would reveal the potential, demand and trends of the products which would further ease the product potential mapping. Furthermore, the Product Feasibility Report would further reveal if the product is technically as well as economically viable. Finally, SWOT analysis would paint a clear picture with the available product data which would further guide in narrowing down the product. Starting a profitable and trending business starts with product identification, wherein SolutionBuggy would render quality mentoring as well as sound consulting to achieve your goal.

Undoubtedly, an entrepreneur would have to seek advice from a specialist to set up a plant and procure machinery. Evidently, a thorough market research would be necessary to find the ideal location of the industry which serves the purpose of supply chain management and is cost effective. Furthermore, in collaboration with Engineering Procurement Construction and Commission (EPCC) drafting a detailed project report containing the plant layout design serves the funding estimations. In addition to this, an expert to lean on for the purchase and implementation of machinery is necessary. To guide an entrepreneur through all these technical difficulties, SolutionBuggy partners them up with a manufacturing industry specialist to assist in procuring efficient plant and machinery also cost-effective.

Government of India assists the manufacturing industries with financing and subsidies. Appropriate planning, benefits in financing as government schemes and subsidies have lesser rates of interests compared to private financing. Primarily, availing the schemes and subsidies from the government, further depending upon the company structure to either look for funding through debt or equity would be ideal. Companies that prefer not to get debt or equity funding can reach out to banks and finally the private financing as their interests are high. Appropriate project financing permits a company obtain desired loan in addition to availing benefits and finally at lower rates of interest. An industrial expert guides a newbie utilize various schemes and subsidies made available by the government consequently help a business gain enough funding.

A Business Plan is indispensable. It determines the future of the business, guiding through the way to success. Furthermore, to implement the defined objectives and strategies, supply chain management planning is requisite. As supply chain management involves the whole process of production i.e. converting raw materials to final products, further its movement as well; it is of utmost importance to have an expert to succour the process. Besides, the company can also enter into a Joint Venture for heightened resources and capacities to succeed quicker. However, every company must establish their brand and further market it to its customers to get an edge over competitors. Experienced Marketing and Branding strategists at SolutionBuggy can offer a helping hand to businesses to gain an edge in the competitive market.

Research and development would be the primary phase at developing a product. Since the market is quite competitive in the present times, cost and quality of the product would be of utmost importance. Moreover, product validation as well as potential must be tested in the prototype phase. A process which slips the mind during the setting up the business phase, however a process of utmost priority. The prototype testing defines the developmental needs of the product. Designing the prototype as well as testing can also aid in quality assurance as well as cost effectiveness. Further reveals the necessities of the production process. Subsequent steps would be to train the resources. Post product development phase is to skill up and train the resources to achieve the product established in the developmental phase. Efficiency of the human resources ensures the quality and effective lead time. In addition to this, effective human resource management can further create a more productive, positive as well as efficient workplace. SolutionBuggy ensures to serve the business requirements during the product development and training phases through mentoring and consultancy.

Several licenses must be acquired when it comes to a manufacturing plant. Although Company Registration is paramount, numerous clearances namely Factory licenses Udyog Aadhar, Pollution and Environmental clearances, industry specific license, Sewage Treatment Plants (STP), Effluent and Wastewater Treatment Plant are a mandate. Furthermore, ISO certification although required by law, acquiring and ISO otherwise can reap benefits. ISO certified products have an added value which can be a better reach in the market as well to satisfy customer requirements. To get through all the licensing and registration process and smooth running of the production process, consultation with an expert can define the required certifications and requirements. In fact, a consultant may act as an intermediary between the government and business to obtain the necessary clearances and certifications. SolutionBuggy consultants holding expertise in various processes and fields of the industry and can help a business start off.