(We are plastic project consultants, We sell Injection moulding machines, moulds, Pipe plants.)
Ans :- A clone Industry set up or A Monopolistic Industrial Set Up with a trend setting new product?
Options are below and choice is yours for sure as customer is always right and he is the king!
When we start looking for project option, the investor looks around and sees who in the following are doing what and making money.
· Some entrepreneur in the family. Could be anyone like sibling, cousin or likes.
· Some entrepreneur in the area where they live.
· Some entrepreneur in the town or nearby where they live.
· Some entrepreneur in the friend circle or in their connection.
Based upon the info collected the investor shortlist some projects based upon their perceived merit and possible earning potential and ability to sell in his market and existing players.
Then he chooses one and invest. Some grow and become large. Some do not. That is rule of the game.
As per me this is a clone business creation. So, in clone business competitors are more while market is also already established for the product.
So, less marketing and more of sales involved. Generally, volume based business while margins are limited.
Clone business set up choosing and decision can be handled well by family members and well-wishers in the family without any need for professional help or service.
But new project ideas and innovative trend setting products if an investor chooses then he needs professional service and support. There could be hand holding by a professionally qualified industry consultant or equipment suppliers. THE INVESTMENT IS WORTH IN THE LONG RUN ALTHOUGH THEY ARE COSTLY!
But equipment suppliers will not give impartial view for obvious reasons and at the back of their mind they will always try to sell what they offer. That is normal. Unlike professional consultants who will give you all the choices irrespective of the suppliers.
Now professionals can offer you service for both clone industry set up and new ideas.
Those who are pioneers in industry and start offering something which is new into the market can earn the most as it will be a monopoly initially. Once you find clones coming up, you can switch to another product or set up as your ROI will be much faster than the 2nd or 3rd guy who is creating clone industry now.
By this time, you have earned enough money so to invest into your next monopolistic business!
It is investor to decide whether they will create clone or be a trend setter!
Thank you.
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