Use IPL fever to start own business: All you need is Rs 33,500 and love for cricket!

IPL 2019: Indian Premier League (IPL) is not just a cricket tournament, it is a fever that spreads across country like virus. But, this cricket fever also brings a business opportunity for you to earn lakh. This season is full of cricket as after IPL, the mega cricket tournament World Cup will be coming. If you are planning to start a business, you can go for a 'bat' manufacturing unit amid this cricket fever. Pradhan Mantri Employment Generation Program (PMEGP) is offering upto 90 per cent loan and 15 to 25 per cent subsidies to this kind of business.

Loan details:

Under the PMEGP scheme, there are various model projects being prepared by Ministry of Micro Small and Medium Enterprises. One out of number of model projects is a bat manufacturing unit model project. As per the report by MSME, if you are seeking to set up a manufacturing unit to make 48,000 bats a year, the total cost of the unit would be Rs 3,35,000 only. An individual or a businessman shall require to have a 10 per cent of the cost i.e Rs 33,500 to start with. While remaining 90 per cent of the amount will be provided as loan. 

Equipment and Machinery details:

If you are looking forward to set up a bat manufacturing unit, you will need following machinery and equipment:

1. Band saw machine

2. Power operated (3 HP)

3. Bat processing machine

4. Power operated bat finishing machine with HP motor

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5. Wood working lathe

6. Other small tools and equipment 

The report suggests that these machinery and tools will cost around Rs 60,000. While additional Rs 2,75,000 will be required for working capital in each cycle. Which means that in order to get a loan, you need to submit a project report of Rs 3,35,000 to your district MSME office or Udyog Kendra.  

Sales prospect:

As per the report, to initiate the project, you will require to manufacture 48,000 bats in a year. The raw material cost of manufacturing the bats would be Rs 12 lakh in a year, along with additional expenses of Rs 4,63,000. The total cost would be Rs 16,43,000 in a year, which means if you are selling a bat at a minimum price of Rs 400 per piece, you will be able to accumulate a revenue of Rs 20 lakh in a year, allowing you to make a good profit of Rs 3.37 lakh in one year.