F&F aims to be a brand name for students and office goers. Extremely lightweight, the bags are waterproof and provide a dedicated charging dock. The bags we produce cater to multiple uses and scenarios.
F&F Bags has been on a steep rise in terms of sales and feedback. With satisfied customers ranging from NGO teachers to school students, we have expanded our point of sales to shops around the locality. Dashing, durable and dependable are the hallmarks of our product. Alongside being anti-theft, the sturdy design of the bag incorporates a waterproof build, which ensures practical usability during unpredictable weather conditions. The bags we produce cater to multiple uses and scenarios.
We were given seed money of Rs. 20,000 for a team of 10. When we got our seed money, we started working on preparing our designs for the bags. Out of the total funds, we spent Rs. 7000 spent on designing the bag and Rs. 3000 was kept as a buffer. For now, our production cost for one bag is Rs. 500 and the selling price is Rs. 650. Our profit margin is Rs. 100, with Rs. 50 kept for packing and travel expenses. Till now, we have earned a cumulative profit of Rs. 12,000 after selling 22 pieces.
In the next 6 months, we plan to hire tailors and manufacture the bags ourselves only. We will be selling our bags on websites like Flipkart, Amazon, MKR, etc. and will also try to sell them in the market and our local shops. We will need Rs. 1.5 lakhs of investment, where we will first spend Rs 75,000 on building our manufacturing unit, Rs 15,000 on advertisement posters, banners, shops, etc., Rs 30,000 on buying raw materials. The remaining Rs 20,000 will be for backup and future requirements.