How to Start Iron Business, License, Loan, Profit Loss

Construction work is growing very fast around the world. Everyone dreams to stay in their own house. So that their family can live for generations.

People cannot build houses again and again. Because of this, when they build it for once, they want it to sustain for ages. For this purpose, they buy good quality and ionized iron rods which don’t get rusted easily.

This is the reason behind high demand for iron rods in the market. If you start this business today, in no sooner time you can start generating a lot of from this business.

The life of any building completely depends on the quality of iron bars installed into it. It even makes buildings safe for ages.

So, today with the help of this article we’ll understand How to Start Iron Business and How to Find Good Quality Iron Bars which sustain longer.

Table Of Contents

How to Start Iron Business

To start this business, firstly you have to find the wholesalers and dealers of this business nearest to you. After this, you have to reach them to ask for the business deals and fix the percentage of deals and selling margins if you import from them in bulk for selling purposes.

Once, the deal is finalized you can ask them to send the batch of irons rods to your store.

Apart from this, before finalizing the final authorization first visit different known brands and sellers whose businesses are already touching sky.

You can also keep variety of stocks for selling these iron rods based on different companies and their marginal cost. Once the products are available in your shop, now it completely depends on you how you sell them and generate profit from it.

Now, You have to select a location to start your business. If you do not select location correctly, then you may face a sudden loss in this business.

Location to Start Iron Business

To start Iron shop, you have to first find a place that is neither in crowded market nor too far from the market.

If your store will be in market then your trucks will not be able to import at your store. Even customers who came to buy Iron from your store will also not be able to park their vehicles in the middle market.

It would be best if you get a place which is neither too far from crowded city nor in the middle of any market.

Once the place is decided, then it comes towards the architecture of store. You should have a big hall to keep goods safe and a good office for dealing with customers. Having a well-maintained office creates a good impact on marketing.

In this way, you can start your Iron business and can run your business very efficiently.

How to Get License for Iron Business

To Start Iron Business registration of licenses is must. Below given are the required registration & license to start Iron Business:

Current Account ( For Business Transactions).
Shop License (Gumasta License).
MSME Registration
Udyog Aadhar
GST License

Current Account: To receive payment under your Iron Business name you must have a current account under your business name.

Shop License: For Iron Business shop license, you will need government-verified identity proof and proof of address. To get Gumasta license, you can either visit official website of your state or visit the nearby offline office.

MSME Certificate: MSME stands for Micro, Small Medium, and Enterprises. It is a type of enterprise managing government that helps you to get govt. Loan schemes and benefits etc.

To get loan approvals from government bodies you can apply for MSME certificate. To start your Iron Business visit the official website and apply for MSME certificate.

Udyog Adhaar Certificate: This certificate helps you to apply for govt- loan scheme and get subsidies from your bank.

To get a udyog aadhaar certificate for your Iron Business you log on to website and apply for the Udyog Aadhaar Certificate.

GST License: GST License stands for Tax on Goods and Services. The GST is a common tax used by countries globally. This license provides you approval for the import and export of goods sold by you.

Businesses and individuals who are supplying goods can claim GST exemption if their annual turnover of less than Rs. 40 lakhs [$48,999] in a financial year.

Such businesses only require GST Registration. Starting Iron Business without GST License is a punishable offense.

For starting Iron Business, this license is the first document that must be approved. To get your Iron Business GST License you can simply log on to the website and start selling Iron legally.

Loan Against Iron Business

In Iron Business the investment cost is medium, you just have to arrange a place where you can keep batches of Iron to start your business. The price of these things costs you around Rs. 49,999/- to Rs. 5,00,000/- [$599 – $6,099].

To get Iron Business Loan, you can apply in any type of finserve service or bank. Many countries even accept Gold Loans on behalf of reference.

Before starting your Iron Business, you have to provide necessary information in your loan file, Such as your needs and how much money you require, the time of repayment, etc. Then you have to deposit your file in the department.

As soon as your loan is passed, all the money will be deposited into your bank account.

How to Advertise Iron Business

If you market your business properly, then you can generate a lot of profit from it. To advertise your Iron Business, you have two ways:

First of all, you have to contact your nearby shopkeepers and tell them that you have started Iron Business nearby.
If they need they can contact you at your number.
You can also show them sample of Iron bars.
You have to reach all the nearby shopkeepers and contact them.

Once you get in touch with the shopkeepers, they will buy Iron from your Store.

Apart from this, You can list yourself on a website like Indiamart, Alibaba, eBay, etc. to start your business online.
After that people will come to your store by themselves, to buy Irons from you.

You can also create Iron Business Facebook page to start online marketing. Here you can post the best photos of Iron and offers on buy these goods from your page.

You can also market your Iron business on Instagram. You can get a lot of benefits in marketing from Instagram. Because more than half of the world’s population is using Instagram.

For this, you have to first create an Instagram account for your business. After this, you can market your business by sharing Iron Business photos.

In offline marketing, you can also get some posters and pamphlets related to your Iron business. So that the people of your local can know that you started the Iron business.

Investment Required for Iron Business

To start this business firstly you need to invest some money in the beginning. If you are renting a place in market for better advertisement, then you will also have to arrange for its rent for atleast 4 to 5 months.

Including all your expenses, rent and on-loan importing goods, it will cost you around ₹10,00,000 to ₹20,00,000[$12,599 – $24,599] at initial stage to start this business. If you do not have much money then you can also apply for business loans.

How to Get Franchise of Iron Business

You can also contact with the owner of known brands and ask for their franchise to grow their business. If you can’t connect with owner directly then, you can also contact the franchise brokers of that company.

In this type of business, you do not have to work hard in advertising and making brand name. You just have to sell the goods as imported by parent brand.

If you want to know more about franchise business then you can read our post for it

Profit in Iron Business

You can earn a lot of profit in this business. If you save atleast ₹10,000 [$120] per quintal, then sooner you can start generating millions of profit per month.

In this business, to build a building atleast 50 to 100 quintals of bars are ordered by the owner. If you manage to arrange atleast 5 such type customers, then you can make a profit of up to ₹50,000 [$600] in this business.

You cannot earn this much profit easily in any other business.

Loss in iron Business

You can suffer the most in this business during the rainy season. If your bars get wet in the rain, then your bars get rusted and starts spoiling.

To avoid this damage, you can save the bars from getting wet during the rainy season so that you do not have any chance of loss in this business.

I hope, you have completely Read the article about How to Start Iron Business.

If you liked the information given by us, do tell us. If you have any queries in your mind, you can freely ask us by commenting below.