How can do Business in the Market ?

There are many type of business in the market.

Broadly business can be classified as following

1.Manufacturing

2. Trading

3. Services

First what idea come in your mind.  See whether it is feasible in the market. Conduct a market research. If there is a market or demand of your product or service. If there is an opportunity to turn your idea into a successful business.

Write your business plan on a paper.

Fund management : How much you need to  invest in your business.

Select a place of business: Business place should be unique where customer can be reach easily.

Prepare a business structure Like  worker – supervisor- manager- owner etc

Determined  number of employees need and their work classification

Select a unique  business name

Legal requirement like Registration under GST, MCD licence,   company registration etc

Arrangement of goods and services which has been delivery to customer

 Manufacturing

Manufacturing is a process through which a raw material convert in finished goods by using machine or human being or any other tools.

Example:

Use various mobile parts assemble it and make a new mobile.

Purchase various computer parts from market or produce and make a new computer, or laptop

Trading

Trading mean  purchase some goods from market and sale it without any change in the products or quality

Example:

Mr. Kumar purchase 100 laptop at Rs 40000 per  laptop and sale it at Rs 55000 per laptop.

Mr. X purchase 50 chairs from market at  Rs.5000 per chair  and sale it at Rs 7000 per chair

 Service

Service mean there is  no purchase or sale but provide service to customer .

Example

Chartered Accountant service regarding Tax

Car or bike  service

Medical service

Taxi service etc

What type of business can be ?