It’s no wonder that sports equipment manufacturing companies have sprouted across the country in the past six decades. The industry produces about 318 varieties of sporting equipment. The more popular ones are hockey sticks and balls, cricket bats and balls, fishing equipment, indoor games like carrom and chess, gymnastic and sportswear items, toys, video game consoles, and more. India exported sports goods worth $546 million (approx.) in 2021-22. The export of sports goods from India has witnessed a whopping 13% CAGR since 2016-17. Industry Experts (https://www.industryexperts.co.in/) can provide end-to-end support in setting up your manufacturing unit or sourcing from established suppliers as per your requirements.
Becoming a Sports Equipment Manufacturer in India
Business Plan: A well-researched business plan that includes a thorough SWOT analysis of the targetted market.
Investment Planning: Being an investment-heavy industry, a robust financial plan to support the initial funding is critical. Given the industry’s growth trajectory, the turnaround time may not be much.
Factory Set-up: It is ideal to have the manufacturing unit near the industrial hub to avoid high transportation costs.
Raw Materials: Optimizing the quality and quantity of raw materials is critical. Sourcing plays a major role in this regard.
Pricing Factor: While low prices initially may help gain market share, it is also relevant to keep in mind that quality is often equated with the product price.
Promotional Strategies: This is a highly competitive market, and hence a strong marketing plan including tie-ups with local gyms, sports academies, schools, etc.will be instrumental in laying a strong foundation for the business and steady growth thereafter.