What is the right way to set up a factory?

The right way to set up a factory is to first do proper research of your product and its market demand. After that, prepare a detailed business plan which has a complete estimate of raw material, manufacturing process, manpower, machinery, location and investment. 

It is important to have suitable place for the factory, transport facilities, electricity and more. It is also important to prepare documents like legal registration, GST number, MSME registration, pollution control approval.

The next step is factory setup – in which you have to purchase suitable machinery, make a layout plan, and hire skilled workers. After starting manufacturing, you should take care of quality control system and safety standards.

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At the same time, a marketing and distribution strategy has to be made to sell the product in the market. If the planning is correct and the work is done systematically, then the factory business can become long-term and profitable.