If you are an eco-minded person and would like to own an environmentally friendly related business, consider opening a paper cup making business.
In today’s age and time, paper cups have gained a lot of importance due to the fact that paper material ensures better environment than plastic. Paper cups compared to plastic are eco-friendly and a result, governments in almost all countries have put much stress upon manufacturing and using of paper plates.
Furthermore, local governments stress upon using paper stuff over plastic ones. Even measures have been taken to put a ban on the manufacturing and use of plastic items.
Therefore a great opportunity for those who are looking for a small manufacturing business opportunities in today’s market. Moreover, in parties, tea shops, coffee shops, marriage parties, restaurants, travel has shown tremendous growth over last few years.
Here is a quick 6 steps complete guide to setting up your own paper cup making plant business:
1. A Business Plan
A crucial initial business aspect you should not ignore at any cost. It acts as a roadmap and helps you to attain your business goals and objectives.
A well-written business plan ensures smoothness, control and at the end success. So create a business plan for your paper cup business before you begin to work on other steps.
2. License and Permits
Next step involves identifying the necessary legal licenses and permits and securing them from your local concerned city authorities in order to operate this business in your chosen location.
3. Estimate Investment
Once you obtain your permits from the concerned authorities, rent a feasible piece of land and then secure the required investment to set up your paper plate making plant.
- Startup costs = Minimum of $ 210000
- Required land = 200 sq. feet
4. Buy Paper cup Machine
Next, communicate your buying requirement to the reliable and branded machine manufactures and purchase your paper cup making a machine from them.
5. Hire Employees
You will require hiring some people to make your unit operational. Depending on your requirement, hire the best ones who can ensure efficiency as well as high production. Pay them salaries and incentives to boost their morale with time.
6. Advertise your Product
Your last and final step is to make the intended market aware of your product. Use effective advertising ways such as local newspaper, Tv channel and also put a banner at your plant.