Bihar and Uttar Pradesh belt are one of the major producers of sugarcane, and hence, emerged as one of the biggest producers of sugar. But sadly, the profit margin is not considerable enough and hence, the sugar mills are slowly depleting. However, the existence can be survived by maximizing the revenue and transforming it into a profitable business. The same can be done with some strategic installation of machines to minimize the consumption of electricity and a bit of investment in the right areas to maximize the productivity. Therefore, the need of the hour is to find a reputed lender offering business loan in Patna and apply for the same.
The other things you can do to maximize the revenue are:
Recycle and reuse the by-products
A lot of waste product is generated while manufacturing sugar. The by-products can be recycled and used in different ways to save money. For instance, the bagasse (dry pulpy residue left after the extraction of juice from sugarcane) can replace charcoal. The sugar molasses can be sold to artificial sweetener manufacturers instead of being discarded as waste.
Shift your process from machines to manual labour
The two states UP and Bihar has an abundance of cheap labour. You can switch to manual labour instead of depending on machines that consume a lot of electricity and save a huge amount of money. The per unit cost of electricity for the commercial organization is very expensive and that’s why it is cheaper to use men instead of machines in Patna. You can hire at least a dozen men for your sugar mill at the same cost and still save a lot of money.
Bottom line: If you are planning to maximize your sugar mill revenue, the first thing you will need is to invest some money towards your mill. Having said that, it won’t be a good idea to use your business cash reserve as it will put your business in a threatening position.
Also Read : How to Maximize Sugar Mill Business Revenue
The other things you can do to maximize the revenue are:
Recycle and reuse the by-products
A lot of waste product is generated while manufacturing sugar. The by-products can be recycled and used in different ways to save money. For instance, the bagasse (dry pulpy residue left after the extraction of juice from sugarcane) can replace charcoal. The sugar molasses can be sold to artificial sweetener manufacturers instead of being discarded as waste.
Shift your process from machines to manual labour
The two states UP and Bihar has an abundance of cheap labour. You can switch to manual labour instead of depending on machines that consume a lot of electricity and save a huge amount of money. The per unit cost of electricity for the commercial organization is very expensive and that’s why it is cheaper to use men instead of machines in Patna. You can hire at least a dozen men for your sugar mill at the same cost and still save a lot of money.
Bottom line: If you are planning to maximize your sugar mill revenue, the first thing you will need is to invest some money towards your mill. Having said that, it won’t be a good idea to use your business cash reserve as it will put your business in a threatening position.
Also Read : How to Maximize Sugar Mill Business Revenue
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