In this era, With in context to the influential foreign lifestyle patterns in terms of apparel, food, bags, laptops, phones, shoes etc the demand from the Indian consumer market has been up and rising but to our shock that has not bought a decline in the products offered by the domestic market.
Especially, when it comes to the casual footwear need of every typical Indian population who still searching for traces of comfort in the artisanal work which is exceptionally found only in India.
India is the second largest producer of footwear in the world after China, accounting for 13% of the production annually. It manufactures around 2065 million pairs of categories of footwear
The major production centres of footwear in India are in Chennai, Tamilnadu , Agra, Pune, Faridabad, Calcutta etc with about 1.10 million engaged in foot manufacturing industry.
And this is where you decide to own your own Slipper making business and meet the walking needs of people and make a business out of it.
The market for slippers in India is large because of the widespread demographics of the India population in terms of Gender, employment status, material required, colours, sizes, utility etc
The potential of this market has been rising despite of the demand for globally trending footwear markets involving Adidas, Nike, Tommy, puma, Reebok etc that is because of the customisation which the home-manufactured slipper companies provide in terms of comfort and keeping in mind the Indian geographical and nature of occupation, ignored by those global sharks.
The Indian population demands for various types of slippers :
The material the slippers on India are made from
The Purpose/uses they apply to the Indian slipper
The licenses required to run a slipper making business would be
1. Fixed capital investment ₹ 2 lakhs – ₹ 5 lakhs
2. Working capital investment ₹ 150000
1) Net profit per year ₹ 5-7 lakhs per Annum
2) Return on investment 44%
The slipper making business has almost the entire Indian consumer market as its target market but those yielding them majority of the sales are as follows:
Households: They make use of slippers prioritising comfort, durability and affordability of it to be worn at home for basic errand running purposes
Hotels and resorts: They provide complimentary slippers to the consumers keeping in mind their comfort in a new room, make them available by the pool side, in spas etc to ensure the customers feel a sense of belonging
Airline industry: Many aviation industries also make use of the Indian manufactured slippers in their business classes and first classes areas to ensure customers are looked after by meeting their every need
Working class : The working class makes use of slippers as their daily wear for this use of easy commute and affordability by curbing their spending
Healthcare spaces: Like hospitals require slippers to be worn by patients and demand in bulk and frequently to avoid any sort of infectious diseases
Children: Slippers of various colours are also worn by children, infants etc
Tourists: The slippers manufactured in India are of an attraction to the tourists to adapt to the roads and walking conditions of India as well as because of the variety the slippers comes with.
The area required to set up a slipper making business would be around 500 sq ft- 1000 sq ft
The raw material required to run a slipper making business would be:
The machinery required to set up a slipper making business would be:
The manpower required to set up a slipper making business would be:
Moreover training to these workers in terms of equipment usage, machinery handling, safety and precautions must also be provided with
The business model of a slipper making business can be defined using 4 variants :
Value proposition: The unique selling point (USP) and the value which a slipper making business is likely to bring to you is:
Target consumers: The target consumers for your slipper making business would be :
Competitor review : The main competitors to the slipper making business in India would be:
Marketing strategy : The marketing strategy to be implemented by your slipper making business would be:
The slipper making business has the potential and has witnessed the following growth prospects:
The profit margin the slipper making business is likely to yield is at 11%
Also read :
Why don’t you put on those slippers and take a stroll in your lawn while we help you make a decision regarding this business:
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