Business Idea: Earn Nearly 15 Lakh By Investing Rs 2.38 Lakh In this business

Wrought iron furniture business: The growing demand for household items, especially in urban areas, offers a promising business opportunity.

New Delhi: If you are looking to start your own business that revolves around the urban consumer preferences, there is a profitable option that you can contemplate.

Wrought iron furniture lately has become a niche market that caters to people aspiring to elevate their standard of living. With the increasing purchasing power among the urban population and the robust demand for ornate designs, these furniture and furnishings are gaining more popularity.

The business of production of aesthetically and precisely crafted modular furniture aligns perfectly with the evolving preferences of consumers and could be a potential business venture for you.

According to the Khadi and Village Industries Commission (KVIC) Project Profile, the Wrought Iron Furniture will have the following cost

COST OF PROJECT For Wrought Iron Furniture 

Land Rented/Owned
Building & Civil Work (2000 Sq Ft): Rs 4.13 lakh
Plant & Machinery: Rs 9.81 lakh
Furniture & Fixtures: Rs 1 lakh
Pre-operative Expenses -
Working Capital Requirement: Rs 8.87 lakh
Total: Rs 23.81 lakh

MEANS OF FINANCE For Wrought Iron Furniture 

Own Contribution @10%: Rs 2.38 lakh
Term Loan: Rs 13.45 lakh
Workign Capital Finance: Rs 7.99 lakh
Total: Rs 23.81 lakh

According to the KVIC project report, you can expect a gross sales of Rs 70.88 lakh, Rs 92.93 lakh, Rs 108 crore, Rs 117 crore, and Rs 125 crore, in Ist Year, IInd Year, IIrd, Year, IVth Year And Vth year respectively.

KVIC has also suggested a net profit of Rs 5.14 lakh, Rs 8.65 lakh, Rs 12.16 lakh, Rs 13.57 lakh, and Rs 14.66 lakh in Ist Year, IInd Year, IIrd, Year, IVth Year And Vth year respectively.

(Disclaimer: This article is for sole information purpose and for readers' project identification. The earning calculator is also mostly based on assumptive figures to give an example of certain type as mentioned by KVIC previous estimates. The Zee News 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.)