The full form of LED is Light Emitting Diode. These lights are becoming popular with every passing day. This light consumes very less electrical energy, which results in lower bills. That is why it is selling in good numbers and lots of people are using it instead of regular tube-lights. It’s a very good business, if one wants to start this business, below is a small and basic checklist to construct a successful plan.
1. Check and Construct Business Plan : It involves market research, identifying demand, identifying the major competition, promotion of the product, machinery quotes, cost calculation that would be required in setting up the complete manufacturing plant. Business objective, vision and mission should be accurately summarized.
2. Defining Cost and Investment : Infrastructure cost, fixed capital investment, working capital investment, pricing of the product should be clearly defined.
3. Check Business Compliances : Business should be registered with government authority based on the business pattern and investment ratio, licensing factors should be checked.
4. Check Location : Checkindustrial zone depending on the Led light operation area, storage, packing and office functions.
5. Machinery : Check machinery (mounting/ assembling) that needs to be there as per the LED that one needs to produce.
6. Manufacturing Technology : Should be sourced from Government organizations at certain fees.
7. Manpower : Build manpower for domestic and international marketing and for various other operations.
8. Promotion : Various social mediums should be selected for promoting the product.
Other things should include making a website, and creating a contact us page, so that inquiries keep coming in.