Hello Rodinhooders,
I am aspiring to be an entrepreneur. From last 1 year I am juggling between two business ideas rather I should say projects and I’m not able to decide which one to go:
1. Handicrafts
Reason being: some 15-20 years back my grandfather was into handicrafts manufacturing and used to be a very trusted name in his field but due to the partners disputes he had to close it down. So I want to restart that business by his name only but now with a change in nature of business.
These days we are very much inspired by e-commerce kind of thing. So I am planning for an e-commerce site specifically dedicated for Indian handicrafts collected from all over India. Although there are many dominant players in this feild but many have diversified to apparels, electronics and other categories also. There I seek some opportunity.
2. Paints
Reason Being: My father is into the wholesale and retail business of oil-paints and chemicals for past 30 years and has a very good reputation in the market. I am planning to start a small manufacturing plant specifically for water based paints as it requires very less investment.
Here also a lot of competition is there as on one side all Asian, Nerolac, Berger kind of companies have dominated positions, and on the other hand there are various regional brands are struggling to have economies of scale.
I am regularly checking the govt. schemes/ incentives/ subsidies for setting up SME’s and I think if I can handle the bureaucrats well then the industry can be easily be setup.
I hope the rodinhooders will help me in taking my decision.
Thanks & Regards,
Kunal Kalra