Overview
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 :
- Represent a married woman
- To ward off bad luck
- To symbolise the Indian culture by wearing it along with a traditional outfit.
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
Market potential
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.
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Uses
- A bindi is typically used by woman as a part of a ritual in subcontinent’s like India.
- It is used by girls and teenagers to complement their traditional outfits.
- Used my older ladies as a belief to ward off any bad luck.
Licenses required
The licenses required to run a bindi making business is as follows :
- GST registration
- Trade license
- ROC
- NOC registration under the state pollution control board
- PAN, Aadhar card
- Trademark registration
Investment required
| CONTENT | AMOUNT |
| Fixed capital investment | ₹ 195000 |
| Working capital investment | ₹ 123000 |
Profits made
| CONTENT | AMOUNT |
| Gross surplus | ₹ 85000 |
| Expected net surplus | ₹ 70000 |
| Projected sales | ₹ 480000 |
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Target consumers
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 sticker 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.
Area required
A bindi making business typically requires a space of 1000 sq ft.
- Velvet cloth
- Precious stone
- Adhesive dextrin
- Beads
- Hand tools
- Bindi printing machine
- Adhesive coating machine
- Bindi cutting machine
- Bindi punching machine
- Dyer
- Packaging machine
- 1- production manager
- 1- supervisor
- 3- unskilled workers
Business model
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:
- That it is a product with but cultural and ritual significance to the Indian’s values and their traditions so for few specific niches the demand is very consistent and eternal.
- It is also likely to generate employment for many rural women which would in turn bring goodwill to your business.
- Women aged ( 30-60)
- Bridal make up artists
- Girls and teenagers
- ABR Sringar LLP
- Essen traders
Marketing strategy : The marketing strategy for bindi making business is as follows :
- Creating advertisements which highlight the Indian culture values associated with bindi.
- Make use of young celebrities in advertising as brand endorses who could attract the teenagers to frame for bindi through social media and digital platforms.
Growth
The growth that has tagged along with and has the potential when it comes to bindi making business is as follows:
- Since 2015, many foreign celebrities like the pop singers, Hollywood actresses has been seen using bindi as a part of their appearance on stage performances.
- This hence bought a little boost among the youth and teenagers to complement bindi not only with traditional but also urban outfits between FY 2018-2019.
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Profit margin
The profit margin which the bindi making business is likely to bring in would be around 8-9%.
Suggestions
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 :
- Firstly, the investment involved in bindi making and the labour intensive benefit of its manufacturing process is comes at a very minimal rate.
- Secondly, the demand from women in India aged ( 30-60) will be consistent.
- Thirdly, the seasonal demand for bindis in terms of festivals like Diwali, Eid, holi, weddings is likely to bring a boost to the business every once in a while.
