You might be thinking of starting a new business in Nepal. You must have researched well for this. Many people might tell you that you need a new product or an innovative product to grow your business. However, I do not believe this. Yes, you can easily grow your business in Nepal without an innovative product. You might be wondering, “How”? So, I will try to answer this in simple language.
You know that Nepal is a developing country. However, development is mostly seen in infrastructural sectors such as roads, airways, railways, schools, bridges, and so on. However, the government is not investing to help businesses in Nepal. The government is neglecting the industrial sector. We already know, many factories in Nepal are already closed. For example – Gorakhali Tyre factory, Bhrikuti Paper factory, and others. In the present days, we are consuming goods imported from India. Let’s look at four such products that do not need any innovative idea and you can successfully grow business in Nepal.
4 major profitable manufacturing business in Nepal
1. Plastic Toys
I suggest you go to the market and look at the plastic toys. You will find most of the products as “made in India” or “made in China”. You can replace such Indian and Chinese products by manufacturing toys in Nepal. The cost for setting up might be higher. The machinery equipment for manufacturing plastic toys will cost about 48 to 60 Lakhs.
However, if you have enough courage and risk-taking dare then you can build your own machine to run a small-scale toy manufacturing company. It might cost 1 Lakh to 1.5 Lakh if you want to build a manual injection molding machine for your business. To grow the toy business in Nepal, you just need a simple marketing idea. First of all, you need to deal with local retailers to sell your product. Later on, you can acquire the entire Nepalese Toy market.
The demand for chocolate will never decrease. We all love chocolate and obviously, our future generation will love it too. We cannot deny the fact that we all eat chocolates imported from India and other countries. In Nepal, chocolates are produced in home-based factories. However, such chocolates are very expensive and are not gaining a good position in the market. This might be a great opportunity to start your chocolate business in Nepal. Manufacturing chocolates is a simple process; however, you must be focused on food quality.
Manufacturing chocolate doesn’t need any innovative ideas in the beginning. You just need to increase the quality of your chocolate so that it can replace other chocolates in the market. Nepal is an agricultural country and has the potential to grow cocoa which is the major raw material used for the production of chocolates. You can encourage local farmers to grow cocoa and buy cocoa from local suppliers which will reduce the cost of production. However, this will be a long-term plan. Although this is a long-term plan, you can bring revolution in the chocolate manufacturing industry as well as the agricultural sector by investing in it.
Ballpen is one of the most crucial goods used in our daily life. Although the world has shifted to digital technology, we cannot stop using the pen. However, it is very sad to say that we Nepalese even don’t have major ball pen producing factories. Still, we use Indian pens and foreign pens. Starting a ball pen manufacturing business in Nepal is one of the greatest ideas. Similar to that of plastic toys, you can first target the local market around your hometown. After that, you can expand the geographical expansion of your business. For a small scale, the ball pen can be manufactured within 50K to 1 Lakhs.
4. Potato Chips, Kurkure, or other food items
These types of food products are very popular among children to old adults. Hence, the demand will never decrease. In Nepal, Kurkure, Lays, Potato crackers, are very popular food items. It won’t be an innovative idea to produce these products. However, it is a very profitable business in Nepal. Nepalese has a trend of eating these types of food items generally during traveling. Hence, the sale is very high.
You can produce these types of food items and supply them to the local market. Besides the local market, you can supply your products to such hotels and shops which are near the main highways. Your chips business can grow very fast in Nepal if you are able to produce good quality products.
What is the crucial part to establish a successful business in Nepal?
I have already stated 4 such products that do not need any innovative ideas to start your business. However, you should have great marketing ideas to expand your business. Otherwise, your business will be limited to your local area. Follow these smalls steps to grow your business in Nepal –
- Always start from the local area. First, try to capture the local market then only supply products to other places. However, if you have a specific geographical target then you can launch in such regions too. For e.g. Supplying potato chips to shops and hotels on the highway.
- Quality must be maintained and the price should be slightly lower than other alternative products.
- You must use appropriate marketing strategies. You can make people aware of the benefits of using national products so that you will get higher sales.
- Focus on corporate social responsibility. Nepalese are kind-hearted and the business that supports society and other people in need, Nepalese also support such business. So, help people and see your growing business in Nepal.