\Nuts and dried fruits are increasingly becoming a part of people’s lifestyles due to their high nutritional value and the growing awareness among people to adopt a healthier way of living. With an annual growth rate of 10%, this industry is seeing a global demand whose value is expected to reach INR 20 lakh crore in the next two years with the share of the Indian market being INR 30,000 crores in the same period.
Orissa, in Bhubaneswar stands seventh among the producers of dried fruits and third among the producers of cashew nuts in India. The number of suppliers of nuts and dried fruits hence has increased in this state. As the number has increased, so has the competition among them. To become successful for any business owner in this industry, it can take quite a while. For the increasing expenses, one can always avail a business loan in Bhubaneswar.
So, to make things easier for them, listed below are a few ways to improve a dried fruits and nuts business in Bhubaneswar:
Dried fruits and nuts are not just limited to self consumption, but it is also a very popular gifting option among consumers, generally as well as in festivities. Investing in good quality and unique packaging will help boost business, but the minimum investment required for a packing machine is INR 3 lakhs to 8 lakhs.
Starting with Processing
In addition to supply, business owners should also include processing of dried fruits to expand their product mix and increase profits. By introducing processing, the prices of the products offered can be increased, but to get there, the business owner will have to incur some expenses of his/her own when procuring the equipment. These expenses start at INR 2.5 lakhs.
For a dried fruits and nuts business in Bhubaneswar, sourcing the raw materials is also important as it affects the quality of the product. Hence, it needs to be made sure that the quality expectations of the customers are met.
For more information regarding the same, the resource mentioned below should be followed:
How to Expand Your Dry Fruits Supply Business in Bhubaneshwar
Aman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management.