If your current job isn’t covering all your expenses and you’re looking for extra income, consider starting a wooden furniture business.
This is a flexible option that you can manage alongside your job, boosting your earnings.
The growing demand for wooden furniture makes this a promising venture, and the central government offers loans to help you get started.
Costs and Funding for the Business
To begin a wooden furniture business, you’ll need approximately ₹1.85 lakh. You can obtain a loan of up to ₹7.48 lakh under the Mudra scheme.
This includes:
- Fixed Capital: ₹3.65 lakh
- Working Capital: ₹5.70 lakh (for three months)
The Modi government supports small businesses through the Mudra scheme, offering loans covering 75-80% of your needs.
This assistance makes starting your business more accessible.
Earnings and Profit Potential
Once you start the business, you can expect to earn a profit of ₹60,000 to ₹1,00,000 after covering expenses.
This profit will help you repay the loan and secure your financial future.
The business can be highly profitable even with a modest initial investment.
Potential Earnings from the Business
You can expect to start seeing profits as soon as you begin. After covering all your expenses, you could earn between ₹60,000 and ₹1,00,000.
This income will help you repay your loan quickly and secure your financial future.
The business offers a great opportunity to increase your income with relatively low costs.
