Successful Business Ideas- Manufacturing of Banana Wafers
Chips are one of the most ready-to-eat popular food items. Chips come under the FMCG segment. The demand for good quality banana chips is increasing mainly in urban areas. Additionally, the small towns and suburbs are the growing market for banana chips. Generally, people consume banana wafers as a snack food. . In India, Tamil Nadu, Maharashtra, Andhra Pradesh, Gujarat, Bihar, and Karnataka are the major banana producing states. As the life of ripe bananas is very low, it is an excellent item for preservation too. If you live in an area which is a banana preserved area then you can surely consider venturing into this business.
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The best thing about it is it needs a very small amount of capital investment. Also, one needs a very small space for the unit operation. We have made a list of steps to follow to initiate the business of banana wafers.
- Analyze The Banana Chips Market
No doubt, the banana chips are very popular food items. Moreover, one needs to find out what are the established brands. Check their packaging style, quality packing, and MRP. One can study the local market and online marketplaces too. This will help you in taking the necessary decision in maintaining your unit.
- Craft The Banana Chips Business Plan
Once you get sufficient information it is now time to craft a business plan. Majorly a project report or business plan helps in getting finance from the bank, and in starting the project smoothly. Broadly, a project report includes two different parts. One is the technical aspect and the second is financial analysis. The cost involvement depends on the technical aspects heavily.
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- Arrange Finance
Once you get the whole project cost next step is to arrange the finance for your business. You can apply for both fixed cost and working capital costs. You can also apply for any one of them too. If you wish to get the financial assistance only for the machinery buying then apply for machinery hypothecation. Also, check if there is any govt. subsidy available for the project.
- Raw Materials
The vital raw material in the banana wafers business is raw bananas. Moreover, there is a need for cooking oil, salt, and spices. And you also need packaging consumables. In the packaging of retail, one has to maintain the inside moisture content of the product. For that heavy layer, corrugated cartons can be used for bulk packaging.
Forecasted Market Overview of Global Banana Wafers
The market of chips in India has shown tremendous growth in the past couple of years. The market is expected to grow with a CAGR of more than 9 % in the upcoming future. Presently, the growing young population represents a key segment for the banana chips market. Major factors that are driving the global demand for banana chips are growing urbanization, the increase in disposable income, and fast-changing lifestyles. A buys lifestyle along with the long working hours have forced people to shift from elaborate luncheons and meals to desk snacks and packaged foods. Snack companies are branching out from original recipes and launching line extensions that deliver interesting ingredients, flavors, and textures to consumers looking for a new experience or alternative ingredients for health reasons.
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Conclusion
“Banana Wafers – Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, Survey, Manufacturing Process, Machinery, Raw Materials, Feasibility Study, Investment Opportunities, Cost And Revenue, Plant Economics” is the project report by NPCS the report covers all the aspects of business, from analyzing the market, confirming availability of various necessities such as plant & machinery, raw materials to forecasting the financial requirements. You can check the official website of NPCS to check various other project reports.
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