New Delhi: In the growing herbal products market, if you too are looking to boost your income, there is a business idea that promises big returns with minimal upfront investment. The business idea we are going to talk about today is the production of Apricot Oil which has in the recent years seen an unprecedented surge in demand, both in skincare segment and also in the healthy oil consumption segment.
Also known as apricot kernel oil, this versatile, odorless oil is churned out from the seeds or kernels of apricots. With the increasing consumer preference for natural and herbal solutions, the demand for Apricot Oil is soaring. The lightweight consistency of the oil is giving it immense popularity worldwide.
If you want to further your entrepreneurship journey, this business could give you an opportunity for to tap into a burgeoning herbal product market and earn a handsome monthly income. One can earn between Rs 60,000 to Rs 70,000 per month as the business grows says media reports.
KVIC has brought out a detailed pre-feasibility report regarding Apricot Oil Processing unit, giving a detailed outline of project concept development, start-up, marketing, finance and management.
For the Apricot Oil Processing Unit the total Cost of Project will be Rs 10.79 Lakhs. Out of this you will get a Term Loan of Rs 5.85 Lakh, Working Capital of Rs 3.86 Lakh. You will have to invest your own Capital of Rs 1.08 Lakh.
Further bifurcating the cost, KVIC gave the following break-up as COST OF PROJECT
Land Own/Rented
Plant & Machinery: Rs 5 lakh
Furniture & Fixtures: Rs 1.50 lakh
Working Capital: Rs 4.29 lakh
Total: Rs 10.79 lakh
Again, bifurcating the cost, KVIC gave the following break-up as MEANS OF FINANCE
Own Contribution: Rs 1.08 lakh
Working Capital(Finance) Rs 3.86 lakh
Term Loan Rs 5.85 lakh
Total: Rs 10.79 lakh
The approximate total area required for complete industrial setup is 1000-1200Sqft. The total cost of machines will be Rs 5 lakh. You will also require 10 people as total manpower for the unit.
(Disclaimer: This article is for sole information purpose. The earning calculator is also mostly based on assumptive figures to give an example of certain type. The article does not intend to give any financial advice of any sorts. For initiating any venture, you must do your own due diligence and market research.)