Though the market for bindis have been in a decline stage since the last decade under the influence of foreign fashion values and trends and thereby a shift in the lifestyle of an Indian consumer to fit in, the demand for a red dot still remains as part of cultural improvisation when it comes to being associated with the Indian traditions and customs.
A bindi is a coloured dot worn in the middle of the eye brows on the forehead as a part of the Indian culture commonly to :
The bindi sector of India in terms of whole and retail is unorganised on a large basis but it still is value at ₹ 500 crore because it is backed by foreign demand too, giving you more than just reasons to take up this business. Let’s see how
The potential for bindi making isn’t subjected to highs and lows because the market for bindi caters to a very specific part of the Indian consumer market I.e the Indian women aged between 18-50 years old.
Moreover, the demand for bindis between 18-30 years of ages of women arises occasionally, to complement the traditional outfit they’re wearing during festivals, events, marriages etc. The demand for bindis from women aged between 31-60 years old is consistent representing the marital status
Inshort, the demand for bindi might experience a seasonal growth but has a smaller market niche.
The licenses required to run a bindi making business is as follows :
|1. Fixed capital investment||₹ 195000|
|2. Working capital investment||₹ 123000|
|1) Gross surplus||₹ 85000|
|2) Expected net surplus||₹ 70000|
|3) Projected sales||₹ 480000|
The consumer market for bindi is not as large as it is for other cosmetic products
It is only used in India thereby warding off the opportunity to capture not much of the global market and even in India because of an aversion to foreign culture the demand for bindis among the urban and teenage population of female has been fading.
So, the target consumers for your bindi making business would be :
Women ( 31-60 years of age ) : Your profits from this business are because of the majority purchases made by this niche who buy bindi as a representation of their religious value and their marital status
Indian make up artists : Another emerging need for bindis have been rising from those bridal make up artists who require bindis of various colours, shapes and sizes to meet the demand of the bride as a part of her appearance.
Girls and teenagers : Girls and teenagers are a target customer for two reasons. Firstly, because of their need to complement the traditional outfits they wear, the demand for bindi gets seasonal : festivals, marriages etc
Secondly, because they aim to experiment trying to collaborate the small Indian rituals with the global fashion trend : bindis with jeans and kurtis
A bindi making business typically requires a space of 1000 sq ft.
The raw material ma required for manufacturing bindis is as follows :
The machinery required in the bindi making business is as follows :
The manpower required to run a bindi making business unit would be :
Moreover these members are required to be trained in terms of equipment usage, machine handling and safety and precaution measures etc
The business model for a bindi making business can be defined using 4 variants:
Value proposition : The unique selling point and the value which a bindi making business would bring to you is :
Target consumers : The target consumers for your bindi making business would be :
Competitor review: The competitors to the bindi making business would be :
· ABR Sringar LLP
· Roop sagar bindi
· Essen traders
Marketing strategy : The marketing strategy for bindi making business is as follows :
The growth that has tagged along with and has the potential when it comes to bindi making business is as follows :
The profit margin which the bindi making business is likely to bring in would be around 8-9%
If you are struggling to make a decisions as to whether or not to take up this bindi making business, here are some facts for you :
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