Side businesses are popular because it allows people who are already engaged in a job to have a standby income or simply augment their current income. Side businesses also help you to utilise all the spare time you have for income generating purpose. You can start a side business with comparatively low start-up investment from your residence, minimising your financial risks. You can easily scale up when your operations start doing well.
Before you start, you have to perform due diligence on whether there is a market for the product that you plan to manufacture and what competition is doing to feed this demand. You also have to create a business plan of how you are going to start, run and grow your business. To start with, you have to register the business, obtain permissions and licences, and open a bank account. Thereafter, you have to identify sources of raw material, engage skilled and non-skilled workers, buy and install tools and machinery.
Let us explore some side business ideas:Soft Toys
A very popular product with children, teens and families, soft toys have a good market. The tools and equipment you need include sewing machines, scissors, tape, needles, racks, punching tools and packing machine. Soft toys are made of cloth and acrylic fur and the process of manufacturing is quite simple. The basic steps include pattern creation, fabric cutting, sewing and eyes and nose punching. The cloth is cut and sewn according to the design, filled with sponge, then buttons, ribbons and eyes are sewn in.Shuttle Cocks
Shuttle cocks are required for playing badminton, a very popular sport worldwide. Shuttle cock manufacturing can be started with a small investment. The tools and equipment you need include a cork boring machine, feather cutting machine and a very accurate weighing machine as each shuttle cock has to meet stringent weight standards. The main raw material required is good quality duck feather. Have a stringent check on the quality of feathers procured because that will determine the quality of your finished shuttle cock. The other things that you require are corks, glue, polish, detergent, and packaging material.Neckties
There is a good demand for all types of ties in the domestic as well as international markets. You can start tie-making with a small capital investment. The production process also doesn’t require much space. If you have some knowledge of tailoring and managing a small unit, you will find tie making quite easy. The tools and equipment you will need include an automatic cutting machine, single needle locking sewing machine, an electric iron, and a table. The making process is quite simple – layers of fabric are laid on the cutting table, cut marks are put on the fabric and cut perfectly. The cut fabric goes to a skilled tailor for stitching and thereafter ironed to give them the required shape.
A big chunk of your available time would be taken up by the process of manufacturing, as such you will need all the help you can get in selling your products, packaging, shipment and controlling inventory. You can get assistance in all these activities from Amazon, one of the world’s most popular e-commerce platforms. Amazon would be happy to help your side business prosper. If you are interested in selling your products on Amazon, please register yourself as ‘Seller on Amazon’