Sure. The initial capital required would be a minimum of Rs 3 to 5 lacs.
Step by step this is how the business plan would look like:
Research phase:
- First of all go to local hardware shops in your area - slightly higher quality ones and also if possible try and speak to builders / real estate construction guys to see if there's a market for these more premium door handles in your city.
- Try to get a feel for what some of these "premium" brass door handles look like and how they are different from the Rs. 200 - 500 bracket regular door handles or aldrops. You will develop an eye for this over time as you browse competitor websites and supplier images etc. For eg www.victorylocks.com
http://www.dorsetindia.com/
- For suppliers go to www.alibaba.com
and type "brass door handles" or "pull handles"
- Learn about the different categories of these door handles which are mainly: Pull Handles (used in offices / restaurants on glass doors usually), Mortice Handles (used in homes and the biggest seller), Handle on Rose (horizontal handles), Handle on Plate (vertical handles), Main Door Handle (larger designer pull handles used in premium / rich class homes for their main door)
Once you have done this research and feel comfortable knowing the product type and can tell what is a "premium" door handle and what is a regular one, you will have a good idea of what kind of handles to source from your supplier. To make things simple just try and copy the inventory of this guy:
www.decolocks.com
Business Set Up phase
- Decide a brand name, logo and all that jazz. "Diamond Locks" or whatever you like. Set up a cheap website for now just to make the brand appear legit and established.
- Get this business registered as a private limited company - nobody will take you seriously if you go to clients offices accepting payments in your personal savings account.
There are sites that offer this whole pvt. ltd registration service at like Rs 5,000 to Rs 10,000 - get it done.
- You should already have an idea of a few good suppliers from Alibaba.com but now is the time when you really need to lock on one supplier and finalize a "sample order". Here's one that I use: laotongjiang.en.alibaba.com / http://laotongjiang.en.alibaba.com/productgrouplist-222097622/Brass_Door_Handles.html
- Finalize your first import order from China - this is more like a "sample" order to get your business started. Choose like 10 to 20 different door handle designs you want to sell initially and order 10 sets of each. This is going to be the biggest start up expense and this first sample order will cost you around 2 lacs more or less.
- Google for a "freight forwarder" or similar company in India. Here's one I use: http://www.seatransmovers.com/
These guys take all the hassle out of importing and will take care of all the paper work etc and import the door handles safely for you from China.
- Just a word of advice: Importing from China is a bit of a skill in itself, negotiation etc matters a bit and you will learn this along the way.
My friend's dad barely knows any English but he is a damn good negotiator and knows Chinese people like the back of his hand by now. Remember, as the buyer YOU are in power and these Chinese exporters will be eager to please you as long as you appear like a "big" guy to them. Promise big orders in the future etc.
- Once the first lot of door handles from China arrives, get your product catalog printed and also product packaging with your own branding printed. This is more important than you think. You want to really invest in a very premium looking product catalog / brochure because this is what your clients will see in meetings for the first time. Also your product packaging must look good.
The catalog has pictures of all of your door handles that you just imported from China and things like a company profile page etc all presented as beautifully as possible. The catalog should feel like you are a million dollar company manufacturing brass door handles in a big facility somewhere in your town.
