Game-Changing Business Idea: Earn Rs 30 Lakh Per Year With THIS Money-Making Hack

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New Delhi: Nowadays, in a rapidly evolving economic landscape, innovative entrepreneurs are constantly exploring new avenues to supplement their income and diversify their financial portfolios. In this era of creative entrepreneurship, side businesses have emerged as a compelling trend, providing individuals with opportunities to turn their passions and talents into profitable ventures.

Many people choose to invest in real estate and collect rent from it, while others choose to start an online business and make money from it. Farming is yet another highly profitable industry. The industry we are discussing is sandalwood production. ()

Although it is a profitable endeavor, patience is a must. One of the most sought-after and well-liked types of wood worldwide is sandalwood. They have a distinctive smell and are used to produce many different items. ()

Sandalwood Plantation Business: Production Method

In general, there are two methods for planting sandalwood trees. The first option is organic farming, and the second is using conventional techniques.

The traditional approach takes about 20 to 25 years to cultivate sandalwood trees, whereas the organic method requires about 10 to 15 years. The first eight years are not when the trees need any further protection.

The air then begins to smell nice after that. The need to defend the trees from animals and smugglers who might want to harm them arises at that point. The ability to grow anywhere, with the exception of sand or icy areas, is another significant characteristic of sandalwood trees.

Sandalwood Plantation Business: Profit

Sandalwood trees are extremely profitable. You can make between Rs 3 and Rs 5 lakh per year by planting only one sandalwood tree. Similar to this, you can make more than 30 lakh every year by planting even just 5–10 trees.

You might make up to Rs 5 crore a year if you are successful in growing more than 100 trees and selling their wood once they reach maturity.

To keep such a lucrative industry in check, one must be aware of the laws and guidelines that the government has put on this line of work. The government of India outlawed the sale and purchase of sandalwood in 2017.

A sandalwood tree may be planted in accordance with this regulation, but you may only sell it to the government. The Forest Department must first be notified and given permission. You will sell them the sandalwood tree.

(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. 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.)