Interesting Small Business from Home in 2024

Today we will pick a milk by-product that can be started as a small business from home and without any hardcore confectionery skills. Unlimited Milk By-Products has launched multiple businesses in the urban market. Let’s see how we can turn a milk product into a small business from home. Please do not assume that I am suggesting you start a confectionery home delivery or a sweet parlor-type thing. We will see here how pure traditional Indian sweets with a homemade tag can turn into a successful small business from home.

Introduction.

Invest Rupees 50000/- to start a small business from home. This blog aims to encourage aspiring entrepreneurs who feel resources are limited to them and cannot start a business. We will see how with just Rs 50000/- (Fifty thousand) one can start a small business from home. Like any other idea, I share this one to be detailed, comprehensive and easy-to-understand English. Moreover, if you want more information, you may contact me, I promise to get back in a week or two.

Concept of new business ideas.

We will understand the whole concept through the business of milk byproducts. In this article, we will look at how homemade confectionery can take the shape of a full-fledged business. In general, we find that most dairy products are highly perishable and can be stored in the refrigerator for a maximum of 7 to 10 days or a few days more. Bearing this aspect in mind we will select a product having a comparatively longer shelf life than other packaged milk products.

Why milk products as a small business from home.

More than half of the Indian population has a fondness for traditional confectionery, so this cuisine has continued to evolve in the call of habit and culture. In the commercial arena of confectionery or “Halwai”, we see endless innovations in taste, texture, and appearance. This fondness is the only reason we see an ever-growing confectionery and Halawi market in India.

India is incredibly famous for its milk production we are the first largest producer of milk contributing about 23% of global milk production. Two hundred million tons of milk production helps seventy million rural households but note milk entrepreneurship is not limited to rural areas, today we see it has invaded the urban market like anything with its byproducts.

Selling Yogurt: As a small business from home.

The most common traditional line of Indian confectionery items is yogurt and milk cakes. [This is an example but ready to be picked]. Now let’s see how we can take different forms of yogurt into a commercial form and establish our production and distribution line.

• We know that many dairy products can be made and sold at home, the reason behind taking a single byproduct variant is because of its high demand and ease to make a flavor-based variant.
• The second reason is to minimize the risk factor and keep the initial investment low because the market availability of the product sometimes exceeds the demand.

Why one more Yogurt brand? There already exist a lot of identical businesses.

We all know that a successful business stands on many pillars, quality alone or business strategy alone cannot make a business successful. In this small business from home our approach will be different from the existing small local players (They are mostly on quality alone). We will consider the quality and a robust business strategy together so that we can create a distinct identity for our business.

1. The business will have a mix of taste-based products.
2. Businesses will focus on passionate/impulsive purchases through placement, packaging, and branding.
3. Since shopping will be emotional, price and size should be “Try Once” type. (Attractive package, small size, and small price tag)

Read more business ideas here

How to start production and distribution?

1. Learn to make yogurt and take the help of experts. Practice regularly for 15 days.
2. Once you become an expert, experiment with different fruit-based flavors.
3. Evaluate it among friends and family and ask for honest feedback.
4. Get ready for a small pilot, with a 75% green signal. Get ready with 50K rupees (INR).

Areas of investment to start this small business from home.

1. Apply for the required license (Food/Trade etc). Keep a budget of Rs 10K (INR)
2. Buy a display refrigerator (small to medium size) with a maximum cost of Rs 15K (INR). [Note I am not promoting the product linked in the display refrigerator]
3. Create an elegant and attractive brand name, logo, and color, enlist the help of a graphic artist and take the help of online print e-commerce like PRINTO [Note I am not promoting the product linked here] it will cost you around 5K (INR).
4. You will only sell in one size such as 100g, buy fancy containers (widely available in e-commerce, read PRINTO), print logo sticker, body wrap sticker, and price sticker. Buy 500 pieces, it will cost you 2K to 3K (INR)
5. Prepare a stand for store advertising. It will cost you 2K (INR).
6. Print 1000 leaflets (which should be placed on the body of the display refrigerator). The leaflet will contain a list of ingredients, recipes, and details of home delivery options for bulk orders. It will cost you 1K to 2K (INR).
7. Start production according to the capacity of the refrigerator.
8. Daily refilling is important, follow the “first in first out” procedure when displaying products in the fridge. [Always mention “best before” dates in the products].
9. You may have to spend on special pots and setups for production. That will cost 10K (INR)
10. Raw material will cost 1.5K to 2K (INR).
11. Keep the price a little higher than the competition (10% to 20%). [MRP tag for 100 GM can be around 20 rupees].
12. Try to give a 30% margin to the retailer. [Retailer may ask for compensation for the cost of electricity, keep the provision of Rs.500 per month for that]

Things to remember before you start this small business from home.

Do not allow the retailer to use the fridge for any other purpose.

You can start this business on your own or with the help of your family members. Please dedicate your full time and keep up the quality.

Check out my 90-Day Formula post on this blog, although I used an example of a different product line, it applies to all home-based ventures.

After 90 days of successful piloting, avail financial assistance from various government schemes like MUDRA and grow the business.

Hope you have understood this small business from home article, if you want to know more you can write to me.

Best of luck!