It can be authoritatively said that the leather industry is a profitable one. This is why those who are saddled with the manufacturing of leather products make a lot of money. Consequently, if you have been thinking of how to start a business that revolves around the leather business, then you may want to tinker with starting a leather belt manufacturing business.
This is one business that you can be sure to get good returns on. However it is very pertinent to note that you would need a good number of startup capitals to be able to run this business from scratch to profitability. Now, let us see the following factors….
Starting a Leather Belt Manufacturing Company – Sample Business Plan Template
1. Feasibility Study Is Essential
It isn’t enough that you just embark on the journey of starting a leather belt manufacturing business without first looking at undertaking some good research on the business. You have got to look at some very vital information that would help in the growth of your business. Learn about the leather business industry in general, how the raw materials are got, the various competition there, amongst many other things.
2. Get Practical Experience
After you must have learnt a good deal about leather, then it is time that you get some hands- on information. This may entail that you go to some of the belt manufacturing industries to see things for yourself. See how business is run, how the belts are produced, where the raw materials are gone, and the various processes of production, amongst many other things.
3. Learn About the Types of Leathers
It is important that you learn about the various types of leathers there are, and also know which is good for manufacturing what. Some of the types of leathers include; Natural cow hides, genuine zebra skin, Tibetan lamb, fox mix, shearing, long hair goat, ostrich, stingrays, and other types of leather expansion. There are also different types of leather colors.
4. Register Your Business
It is pertinent that you register your business. This is especially important because you have got to have a properly documented business if you want your customers to cut across private individuals. For this to happen, you would need to register your business at the corporate affairs office or the chamber of commerce office, as the case applies in your country.
5. Trademark a Name
You have to come up with a brand name for your belts. This is because there are several belt brands in the market and so you have got to develop yours and have it patented. For instance there are designer belts named after the owners, therefore, be sure to use a unique name that can attract all and sundry.
6. Source for Funds
If you have got the startup funds to start this business, then that is a good move. On the other hand if you do not, then you may want to consider raising funds from family and good friends. There are also avalanches of banks that give out to loans, but be sure you have the collateral to be tied down. Conversely, there may be microfinance banks in your country that may be willing to loan you some money without any collateral.
7. Site Your Factory
Now that things are looking up, then you can think of getting a space for your leather belt manufacturing business. This could be in an industrial estate, or a location that is away from the residential homes. In the same vein, this is not to say that couldn’t possible locate your factory in a residential area. It is possible, but it comes with its consequences – noise. If you residents in the neighborhood you want to locate your business can bear the noise, then perhaps that is okay.
8. Purchase Equipment
Now that you are getting a hang of things, then you may look to procuring the equipments that is needed. Some of the equipment needed include; blank leather, buckles, measuring tapes and industrial measuring rulers, scissors, x-acto blades, Hole punching tools or awls, different metal socket wrenches, bolts, and nuts, scraps of marbles or granite,hammers,leather dyes of different colors, paper towels, leather conditioners, neat’s-foot oil, gloves, amongst others.
9. Hire Workers
It is important that you go for the experienced workers. This is so that you can get very good finishing. You may consider hiring inexperienced people that you can train, as well as save cost. However, truth is that you would need to do a whole lot of work.
10. Start Production
This is the stage when you start the manufacturing of the leather belts. Be sure to give some leather belts out to people for free so that you may gain access into the market. If your product is nice and durable, then you can rest assured that you will garner clients real soon.
11. Advertise your Business
This is one of the very needful steps that would do your business a lot of good. This means that you have got to put in place some marketing strategies that could convert to clients. You can try the good old word of mouth mode of advertising. Also flyers and brochures with pictures of the different type of leather belts would be needful. The internet is also available to help you sail through this hurdle.
In all these, do have at the back of your mind that creativity is very essential in this industry. One of the ways to continue staying afloat in business here is to keep being imaginative. This is a great determiner of whether you want to grow fast or not.
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