Wooden Furniture Manufacturing Industry

Wooden Furniture Manufacturing Industry. Furniture Production Factory. Most Profitable Wood Furniture Manufacturing Business Idea.

                           

Traditionally, furniture has been made of wood. With the industrial revolution, furniture manufactured from materials such as steel, aluminum, glass and plastic, began to appear. These materials may have revolutionized the furniture industry, but wood is undeniably a staple material in furniture manufacturing. Wood is, of course, a long-lasting and robust material and is the perfect choice for anyone looking for longevity from their furniture. Wooden furniture can also go a long way to creating a sense of the natural world indoors.

Wooden furniture is used for articles of daily use in dwelling house, place of business, public buildings and includes items such as chairs, tables, beds, safes, sofa sets, Almirahs cabinets, etc. are made of wood.

The advantages of wooden furniture are undeniable. Combine a piece of wood furniture to furniture made from steel or glass and the natural beauty of the wood will add warmth and character to any room.

·         Strength and Durability

Wood furniture is extremely resilient and requires very little maintenance. Wood is a long-lasting natural material that can stand constant abuse, whether it's spills in the kitchen or scratches in the dining room. Solid wood furniture can last for generations with minimum care.

·         Ease of Maintenance

Wood furniture is nearly effortless to maintain. Simply wipe the surface of the wood chair parts with a wood cleaner on a regular basis. Do not allow water or dust to settle on your tables, chairs or armoires for extended periods.

·         A Decor Staple

Adding a piece of wood furniture to a room will completely change its look and feel. Wood furniture offers elegance, charm and sophistication to any room.

·         Modifiable

The beauty of wood furniture is that it can be changed over time to give it a second, third or fourth life. By sanding and staining, or painting, you can refinish wood furniture and give it an entirely new look.

 

Cost Estimation:

Capacity:                                 7500 Pcs. /Annum       

Plant and Machinery cost:       13.00 Lakhs

Rate of Return (ROR):              46.00 %

Break Even Point (BEP):          38.00 %

Cost of Project:                         118.00Lakhs

 

Market Outlook

India is a land of wonderful and marvelous artistic work of wood. The rich handicraft and beautiful traditional attributes of art and design have established a reputation of Indian Furniture Industry in the nation and worldwide.

Furniture refers to the movable objects that support various human activities such as seating, eating and sleeping. They are also used to hold objects at a convenient height for work or to store things. Furniture is a product of design and it is also considered as a form of decorative art.

The popularity of traditional furniture has strengthened the demand for wood in the manufacturing of furniture in India. Over the past few years, the utilization of wooden goods in home has increased as people have started using wood for furnishing cupboards, decorating and for other purposes. Apart from this, the demand for engineered wood furniture is rising in metro cities such as Delhi, Mumbai, Bangalore and other major cities. The reason behind this is the rising popularity of ready to assemble home furniture in these cities. The availability of engineered wood furniture through various distribution channels provides ease to the customer to buy furniture products.

The country’s furniture market is projected to cross USD32 billion by 2019. The country’s furniture market is expected to grow at a rapid pace due to rising disposable income, expanding middle class and growing number of urban households. In addition, the anticipated rise in tourism and hospitality sectors is also expected to spur the furniture demand in the country through 2019. Western and Southern region would continue to be the leading revenue generators due to expanding distribution network of furniture manufacturers in these regions. Uttar Pradesh, Kerala, Punjab, West Bengal and Andhra Pradesh are the major suppliers of wood, which is the most widely used raw material in the country’s furniture market. Wooden furniture is expected to continue its dominance in the Indian furniture market. Home furniture market is expected to witness fastest growth over the next five years, followed by office and institutional segments

Wooden furniture accounts for US$ 5,358 million. (US$ 852 million) of this (wooden furniture) is imported and imports are growing at 50 to 60 per cent every year. India was the largest furniture importer in the world, with a 19 per cent share in the furniture imports worldwide. A total of 10, 476 importers shipped furniture to India during this period, mainly from Italy, Germany, Spain, China, Korea, Malaysia, Indonesia, Philippines and Japan. The furniture sector in India makes a marginal contribution to the Gross Domestic Product (GDP), representing about 0.5 per cent of the total GDP.

The global furniture market can be broadly categorized into four categories - domestic furniture, office/corporate furniture, hotel furniture and furniture parts. Globally, domestic furniture accounts for 65 per cent of the production value, whilst corporate/office furniture represents 15 per cent, hotel furniture 15 per cent and furniture parts 5 per cent.

 

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Our Market Survey cum Detailed Techno Economic Feasibility Report Contains following information:

 

 

Ø  Introduction

·         Project Introduction

·         Project Objective and Strategy

·         Concise History of the Product

·         Properties

·         BIS (Bureau of Indian Standards) Provision & Specification

·         Uses & Applications

 

Ø  Market Study and Assessment

·         Current Indian Market Scenario

·         Present Market Demand and Supply

·         Estimated Future Market Demand and Forecast

·         Statistics of Import & Export

·         Names & Addresses of Existing Units (Present Players)

·         Market Opportunity

 

Ø  Raw Material

·         List of Raw Materials

·         Properties of Raw Materials

·         Prescribed Quality of Raw Materials

·         List of Suppliers and Manufacturers

 

Ø  Personnel (Manpower) Requirements

·         Requirement of Staff & Labor (Skilled and Unskilled) Managerial, Technical, Office Staff and Marketing Personnel

 

Ø  Plant and Machinery

·         List of Plant & Machinery

·         Miscellaneous Items

·         Appliances & Equipments

·         Laboratory Equipments & Accessories

·         Electrification

·         Electric Load & Water

·         Maintenance Cost

·         Sources of Plant & Machinery (Suppliers and Manufacturers)

 

Ø  Manufacturing Process and Formulations

·         Detailed Process of Manufacture with Formulation

·         Packaging Required

·         Process Flow Sheet Diagram

 

Ø  Infrastructure and Utilities

·         Project Location

·         Requirement of Land Area

·         Rates of the Land

·         Built Up Area

·         Construction Schedule

·         Plant Layout and Requirement of Utilities

 

Project at a Glance

Along with financial details as under:

 

  •     Assumptions for Profitability workings

  •    Plant Economics

  •    Production Schedule

  •    Land & Building

            Factory Land & Building

            Site Development Expenses

  •    Plant & Machinery

             Indigenous Machineries

            Other Machineries (Miscellaneous, Laboratory etc.)

  •    Other Fixed Assets

            Furniture & Fixtures

            Pre-operative and Preliminary Expenses

            Technical Knowhow

            Provision of Contingencies

  •   Working Capital Requirement Per Month

             Raw Material

            Packing Material

            Lab & ETP Chemical Cost

           Consumable Store

  •   Overheads Required Per Month And Per Annum

         Utilities & Overheads (Power, Water and Fuel Expenses etc.)

             Royalty and Other Charges

            Selling and Distribution Expenses

  •    Salary and Wages

  •    Turnover Per Annum

  •   Share Capital

            Equity Capital

            Preference Share Capital

 

  •    Annexure 1:: Cost of Project and Means of Finance

  •    Annexure 2::  Profitability and Net Cash Accruals

                Revenue/Income/Realisation

                Expenses/Cost of Products/Services/Items

                Gross Profit

                Financial Charges     

                Total Cost of Sales

                Net Profit After Taxes

                Net Cash Accruals

  •   Annexure 3 :: Assessment of Working Capital requirements

                Current Assets

                Gross Working. Capital

                Current Liabilities

                Net Working Capital

                Working Note for Calculation of Work-in-process

  •    Annexure 4 :: Sources and Disposition of Funds

  •    Annexure 5 :: Projected Balance Sheets

                ROI (Average of Fixed Assets)

                RONW (Average of Share Capital)

                ROI (Average of Total Assets)

  •    Annexure 6 :: Profitability ratios

                D.S.C.R

                Earnings Per Share (EPS)

               

             Debt Equity Ratio

        Annexure 7   :: Break-Even Analysis

                Variable Cost & Expenses

                Semi-Var./Semi-Fixed Exp.

                Profit Volume Ratio (PVR)

                Fixed Expenses / Cost 

                B.E.P

  •   Annexure 8 to 11:: Sensitivity Analysis-Price/Volume

            Resultant N.P.B.T

            Resultant D.S.C.R

   Resultant PV Ratio

   Resultant DER

  Resultant ROI

          Resultant BEP

  •    Annexure 12 :: Shareholding Pattern and Stake Status

        Equity Capital

        Preference Share Capital

  •   Annexure 13 :: Quantitative Details-Output/Sales/Stocks

        Determined Capacity P.A of Products/Services

        Achievable Efficiency/Yield % of Products/Services/Items 

        Net Usable Load/Capacity of Products/Services/Items   

       Expected Sales/ Revenue/ Income of Products/ Services/ Items   

  •    Annexure 14 :: Product wise domestic Sales Realisation

  •    Annexure 15 :: Total Raw Material Cost

  •    Annexure 16 :: Raw Material Cost per unit

  •    Annexure 17 :: Total Lab & ETP Chemical Cost

  •    Annexure 18  :: Consumables, Store etc.,

  •    Annexure 19  :: Packing Material Cost

  •    Annexure 20  :: Packing Material Cost Per Unit

  •    Annexure 21 :: Employees Expenses

  •    Annexure 22 :: Fuel Expenses

  •    Annexure 23 :: Power/Electricity Expenses

  •    Annexure 24 :: Royalty & Other Charges

  •    Annexure 25 :: Repairs & Maintenance Exp.

  •    Annexure 26 :: Other Mfg. Expenses

  •    Annexure 27 :: Administration Expenses

  •    Annexure 28 :: Selling Expenses

  •    Annexure 29 :: Depreciation Charges – as per Books (Total)

  •   Annexure 30   :: Depreciation Charges – as per Books (P & M)

  •   Annexure 31   :: Depreciation Charges - As per IT Act WDV (Total)

  •   Annexure 32   :: Depreciation Charges - As per IT Act WDV (P & M)

  •   Annexure 33   :: Interest and Repayment - Term Loans

  •   Annexure 34   :: Tax on Profits

  •   Annexure 35   ::Projected Pay-Back Period And IRR