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Visit Any Small Scale Unit Close To Your Residence And Collect Data About Its Growth

INTRODUCTION :

In the Indian economy, small-scale and house industries occupy a crucial place, as a result of their employment potential and their contribution to total industrial output and exports.

The small-scale industries are the economic undertakings having a mounted investment in plant and machinery, whether held on possession basis or lease basis or rent purchase basis not exceeding Rs. 1 corer.

There are various small-scale industries; the one that resides around our locality is candle making industry.

Candle making business is one amongst those few enterprises that needs little capital investments nonetheless provides an honest return on investments, particularly if you’ll be able to grab a market that lacks supply.  Candles don’t seem to be solely used for spiritual and illumination purposes; in recent times candles are utilized in hotels, restaurants, and hospitals on an everyday basis whereas they’re sometimes utilized in homes also. Plus, aromatherapy candles are quite stylish lately when simply a sniff is enough to elevate one’s mood! With such a large amount of boons and blessings, candle-making business is the next huge thing in your life.

AIMS AND OBJECTIVES :

The aim of this project is to find out the growth of a small scale industry: home-made candles.

The homemade candle business is owned by Mrs. Priya Rao

Objectives:

  • To get information about how a small scale industry works
  • To get a detailed first-hand report from the owner about the growth in the business
  • To learn the basics of entrepreneurship
  • To understand the makings of candle
  • To understand the idea of small-scale business and entrepreneurship

METHOD AND METHODOLOGY :

The method used in this project to verify the growth of small-scale industry: home-made candles, is an interview with the owner. The interview will cover the whole journey of their business.

The following are the interview questions:

  1. How did you start your business?
  2. Who did you sell your first candles too?
  3. What is the basic process of candle making?
  4. Is your husband supportive of your business?
  5. How many workers are currently working under you and where do you make candles?
  6. How much was your investment when you started professionally?
  7. How did you grow your business?
  8. To what do you owe your success to?
  9. What are the benefits of small-scale industry like yours?
  10. What are your plans for the future growth of the company?

DETAIL REPORT OF PROJECT :

The interview is conducted with the owner of the homemade candle Mrs. Priya Rao. The following answers are given by her.

  • How did you start your business?

I started my business in 2015. I started making candles in the festive season and selling them to close relatives and friends. I used to make candles all my life. It’s my hobby.

As soon as I started selling my candles in festive seasons such as Diwali I would get orders in bulk for spiritual functions as well. I was surprised by the orders I was getting without the festive season, which is when I decided to expand my business and make it more professional.

  • Who did you sell your first candles too?

My first candles were sold to my neighbors during the festival of Diwali. They were handmade candles used as diya. My neighbors always appreciated my craft of making candles. In 2015 they placed the first order of 50 candles.

  • What is the basic process of candle making?

To make a candle you basically require these Materials. Another bonus of constructing your own candles is that you simply can control what goes into them. If you are sensitive to fragrance, you’ll be able to leave it out. If you are concerned regarding keeping the air in your home as clean as possible, you’ll prefer to use soy wax. Though there are many alternative styles of candles, all of them contain 3 main components: wax, a wick, and a container. Adding Fragrance and color is optional and lastly, you will need Pot to soften the wax.

The basic procedure of making candle is:

  1. Once you have got your station set up, you will need to seek out a wax that is applicable for the kind of candle you wish to create and a wick acceptable for the way you have chosen. Keep in mind that some wicks don’t burn hot enough to melt some varieties of wax. You may also get to choose the correct mold or container to carry the molten wax, fragrance or color for the candle if desired, and a match to light the candle once it’s done!
  2. Then, you will need a heat supply sort of a hot plate or electric stove to soften the wax. Then you will need an old pot to soften the soy wax in. when shopping for wax, it’s smarter and easier to shop for wax flakes. It melts quicker and more evenly. You will need to soften enough wax to suit the vessel you select.
  3. Before you pour the wax, place your wick into the suitable vessel. We prefer to use an empty candle container that was previously used up—it’s eco-friendly and budget-friendly!
  4. Add your color and fragrance to the liquefied wax within the pot, if desired.
  5. After melting the wax, rigorously pour the new wax into the container.
  6. Use skewers to assist keep the wick in place. Let the wax cool fully then trim the wick right down to size.
  7. This is the easiest and basic way of making a candle.
  • Is your husband supportive of your business?

Yes, my husband is very supportive of my craft and my business. He helps in the financial aspect of my business as I have very less knowledge about it. He encouraged me to grow the business. He helps me find potential clients for my business. He is very proud of me as working women, as an entrepreneur.

  • How many workers are currently working under you and where do you make candles?

Right now, there are around 20 women workers who are working for me in my factory. My factory is in my backyard. It has only two rooms. One is a machine room and the second room is where we pack the finished products.

  • How much was your investment when you started professionally?

An initial investment of Rs 2 lakhs is needed for setup of small-scale candle producing unit. You would need a small area of 12×12 space at your residence and a single section electricity power for 1 machine. Candle making machine is worth RS 50,000. Value of the machine depends upon production capability. This one is a semi-automatic machine that manufactures up to 350 candles in 15 minutes.

  • How did you grow your business?

A candle making business is certainly a fun and gratifying approach of earning cash because it satiates the creativeness latent in you. However so as to earn your living, it’s vital for folks to understand my product and this may be done in a range of ways.

  1. Online selling
  2. Social networking sites
  3. PPC advertising in Google
  4. Flyers and banners

As you’ll see there are plausible ways in which I can advertise and promote my product. This is how I planned to expand and grow my business. I also made some unique products to get an upper hand when it comes to competition.  The best way to grow any business is to constantly make new products and advertise and reach as many people as possible.

  • To what do you owe your success to?

I owe my success to my hard work and support of my family. And I owe this to my mother who taught me how to make my first candle.

  • What are the benefits of small-scale industry like yours?

There are many benefits of a small scale business like mine.

A few are

  1. 1. The potential for big employment
  2. A demand of less capital
  3. Evenhanded distribution
  4. Use of domestic resources
  5. Opportunities for entrepreneurship
  6. Price efficiency
  7. Reducing migration
  8. Appropriate for non-standardized merchandise
  9. Flexibility operating
  10. Fast decisions
  11. Ability to vary
  12. Little market size
  13. Customization
  14. Chance for talent
  15. Lesser industrial disputes
  16. Personal contact with workers
  17. Personal contact with customers

And many more benefits when it comes to small-scale business.

  • What are your plans for the future growth of the company?

My future plan for growth of my business is advance machines and expanding my factory by employing more workers. Marketing is the key focus for future growth of my business. I am planning to expand out to people all around the country by launching my own website where people can purchase my product online.

ANALYSIS OF DATA :

BIBLIOGRAPHY / REFERENCE :

  • http://newhorizonindia.edu/nhc_kasturinagar/wp-content/uploads/2017/10/Unit-2.pdf
  • http://www.yourarticlelibrary.com/industries/small-scale-industries-in-india-definition-characteristic-and-objectives/23464
  • https://www.thesprucecrafts.com/basic-candle-making-instructions-516753
  • https://www.expert-market.com/candle-making-business-plan-starting-candle-business-from-home/
  • https://www.quora.com/Is-candle-making-profitable-in-India

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