Jamnagar is the 7th most populated city and the 9th largest city of Gujarat located in the Saurashtra region. Established around the 1500s, the city is home to some of the famous industries in India.
Other than trade, Jamnagar also has a long-standing association with cricket. Two of the most respected cricket tournaments in India also take their names from nationals of Jamnagar:
- Ranji Trophy – Named after Sir Ranjitsinhji Vibhaji Jadeja, the former ruler of Nawanagar (erstwhile Jamnagar) who played for the English cricket team.
- Duleep Trophy – Named after K. S. Duleepsinhji who also played for the English cricket team.
Sports equipment manufacturers are among the most prominent borrowers of business loans in Jamnagar. Numerous financial institutions and NBFCs operating here make availing these loans straightforward.
Here are some of the ways you can grow your sports equipment manufacturing business in Jamnagar:
- Expand your operations to a new location
Expanding your business to a larger area increases your production capacity. You can have a more extensive inventory, buy more raw materials, and even get discounts on your procurement. Better stocks also lead to more production and sales growth.
Utilising a business Loan in Jamnagar is one of the ways to finance a growing firm. These loans will provide the investment you need to buy or lease a new location.
- Add a new product to your production line
Till now, you may have concentrated on manufacturing only cricket equipment. Producing new goods other than your niche can be beneficial for growth.
For example, the Meerut sports manufacturing market, famous for cricket equipment, turned its concentration towards equipment for javelins and short puts. These gears helped Neeraj Chopra, Tajinderpal Singh Toor, and Swapna Barman secure gold in various international sports events.
Similarly, lawn tennis, table tennis, badminton, and swimming are other sports that people of Jamnagar like to participate in. Manufacturing gears for these activities can help you expand your business.
However, you may have to invest in new machinery and other instruments to produce such goods. Hence, fulfil the business loan eligibility criteria and avail financing to meet your funding requirements.
As the business owner and the borrower, you must be within 25 and 55 years of age with a company that is at least 3 years old to apply for a loan from the top lenders. These simple eligibility criteria are one of the reasons why companies apply for a business loan.
- Take your business online
Having a website is one of the essentials of almost all businesses nowadays. It provides information about the goods you sell and where consumers can avail them. A website may help your company grow to a moderate extent.
What can make your business expand exponentially is an e-commerce website. You may have supplied your goods to retailers. Having an e-commerce site enables you to sell your products directly to your consumers. This way, you grow your sales and also your business.These were some of the ways to expand your sports equipment manufacturing business in Jamnagar. Take advantage of the lowest business loan interest rates in India to avail financing. Make sure to provide the necessary documents like KYC documents, income tax returns, and audited financial statements to apply and find the loan sanctioned to your fast.