Day In The Life Building a Business in INDIA!
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- Опубликовано: 1 авг 2024
- Part 2 of our India adventure showcasing what it's like to do Business in India compared to the UK. In this video we take a look behind the scenes at manufacturing and what it's like to work and run a business in India as we continue on our journey to build our Teddy Bear company.
Watch part 1 here: • How I Setup a Factory ...
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Another day in the life of a business owner, this type we're behind the scenes at a factory in India as we build our Teddy Bear business.
#business #india #entrepreneurship
These videos are worth more than any MBA in the world
That’s so kind of you to say. Check this jamessinclair.net/entrepreneurs-university-free-trial/
@@JamesSinclairEntrepreneurit’s true!
Absolutely outstanding video! You only need to see this to understand how outsourcing is done, and how relationships are built with your business partners. Coming to think of it, this is not just partnership between businesses, but partnership between countries! It is a win, win all around. I don't know how James Sinclair finds the time to do these quality videos along with all the businesses he is running. Very impressive!
These videos are the highlight of my week.
Ive been listening to your business owner podcast episodes whilst driving for work.
The episodes have made me realise I’m just earning a modest wage with the extra stresses of trying to run a ‘business’ that has no limits to entry.
Keep the videos coming James!
Thanks for listening!
As someone who's had exposure to different places, £500 goes far in the developing world. The cost of living just isn't the same as the developed world. The trick is to make 1st world money but have developing world costs. A man can dream 😂
Cost of living is the major difference, you can get a full meal under 1£ in India while it's nothing in UK.
many asian dominated streets in east london i saw a shop where they sell food for £1 also their is a shop on green street upton park named as £1 food shop i saw it in 2017 don’t know whether they still exist.
To earn that £1 in india aint easy either lol, both countries have same issues.
May be u should setup your production unit in ludhiana india. Fully Laser cutting machine will cost you less and will be more accurate and productive
this is absolute gold. Thank you.
That's a good salary for India. It's also crazy how many staff some companies employ, Westside is a clothing and lifestyle store that is owned by Tata, they employ twice the number of staff that a similar uk store would. In the Uk staff cuts are the first way a retail company try to save money, but in India the more staff you have they think it gives an impression of a successful company. One member of staff will put your item through the till watched closely by two other staff members!
I am glad you did this collab with Mr Rajnikanth.
It's great that you run an ethical business. The factory workers seem happy. How will your Meet Up differ from the video content you do?
Well the meet up is 2 days of detailed teaching and learning; difficult to do that on yt, in a seminar environment people can asks questions and put the practical tasks I set to action!
When it comes to initially setting up your business partnership, there is no substitute for meeting in person.
Really enjoyed that mini series. Well done James!
Thanks Damian
I wish these videos were longer!
Excellent video really enjoy it
great episode. i appreciate you filming this, you didnt have to
Enjoyed both parts, great to see behind the scenes 😀
Glad you enjoyed it
I knew India was cheaper to get stuff made but wow... The cost difference in everything is insane. 🤯
Really great video - keep them coming!
Thanks, will do!
Nice one of the best place for manufacturing these day.
Great video 😎
really great content
Another absolute gem
Cash is king
I feel inflation is killing cash flow and people not paying on time doesn't help at the moment.
Great video James.
Having done 4 years owning a company in India, I genuinely believed India is an acryomn for Ill Never Do (in) India Again.
Looks like you have a great partner.
Mani knows how to upsell, he is stretching his numbers knowing James is working out the numbers in his head! Indians are no1 in business for a reason!!
yes he is sure stretching, no indian would pay 200 per month for a cleaner when i can get you one for 30-60 quid
@@cloud-seven - Sorry, but you are spewing nonsense, and have no idea what you are talking about. I am from the South of India, and even maids (who clean homes, not factories) are paid the equivalent of 150 pounds a month for doing a full day's job, working in homes. We ourselves have a house-help, and we pay her Rs. 15000 a month (ie. 150 pounds) plus her food plus her transportation. And we live in a very small town. Considering this is what a house-maid is paid, I would say Rs. 20,000 a month is very normal for somebody who works in a factory, in a major city, where this factory is located. In fact, I would say it is even a bit on the low side.
The wages in Northern India are considerably lower (maybe half), because there is much greater poverty in the North, and there are a lot more unskilled labourers in the North. In fact, even in South India, many of the labourers are now from North, who are increasingly migrating to the small towns & villages of the South, because the wages in South India are so much higher (typically it can be twice or higher than what these labourers get in the North). Even in the small town I live in South India, most construction labourers are now mostly from North India, and increasingly we are even getting many migrants from neighbouring countries like Bangladesh (who are obviously coming because they are attracted by the higher wages). A construction labourer in the small town I live in has to be typically paid Rs. 700 a day (£7 pounds a day). And there is no getting around this, because the minimum wages are legally stipulated by the State Government.
James, I really appreciate your videos. I live in the USA, and have for the last 30 yrs, but I’m a London barrow boy. A Delboy of old.. my college was Wembley Sunday market, Leather Lane, Hatton Garden, Clapham junction and of course Brighton etc bank holiday markets. I got old, divorced too many times and negative. I need your videos to remind me of my foundation. I’ll see you at Marie’s factory in India next year. Or somewhere close.. ohh and my first venture where I employed other people was 41 years ago where I made stuffed teddies, dogs etc…lol. Thanks mate, truly appreciated…more than you can know.
Fascinating, brilliant video. How you have the time
How do you mean?
@@JamesSinclairEntrepreneur How you have the time to do your RUclips videos all your multiple businesses
You should put "part 2" in the title, it makes it easier to find!
I’ve put it in the feedback jar!
"It would nice on the title and not in the jar' great video. I have bn to India and China. Despite China not being English speaking and India 'supposedly' is it was easier doing business in China than it was in India. Doing business in India reminded me alot of Africa, unreliable,unprofessional, and innificient.
However, I could sense some good about India over China, and I am going back to India because my gut feeling says there some in India that should not give up and for that I am going back there until I Crack the gem as I believe there is...
The Indian chap telling some fibs I feel!!
Love this video Jimbo any videos you will be filming with the farm in though I'm subscribed to your channel
Thanks Reece
@@JamesSinclairEntrepreneur will you be during a part 3
Have you got any new RUclips videos coming out this week
Your a grafter good luck to you mate
Thanks mate
hahha, may mac ne, chu cari dam canh tranh voi thanh giong ha, de bep chu cari cho coi :D
Investing in India is way more profitable than investing in the developed world ceteris paribus. The profit margins are much higher.
so it seems thats about 6k per month in the uk compared to their £500 a month there
are there compliance certifications for these teddies to be imorted into the uk?
Loved thd patter and banter. So friendly mate
Thanks Simon
Love your videos, it's a like from me ☺️
And it’s a like from me. 😀
And me!
well James that was fascinating. I am in IT and working with India just doesn't work as it should. Really frustrating
I think your main challenge would be finding the right supplier/provider. I think the main difference from the UK would be that in India, there are huge quality differences across service providers/suppliers. The good ones can be really good, but the bad ones can absolutely terrible and awful. That is very different to the UK, where the quality even at the bottom, would still be of reasonable/acceptable quality. And that makes it much more challenging to find the right partner/service provider in India.
@@stephenmani8495 Stephen, thanks for your reply. You are right about quality - but one of the hardest things is flat-out misrepresentation. E.g. family member is in software developtment and needed a new developer for Indian partner. found a great person during interview - but the person who actually started was same name but different person - and useless!
hahahh, exactly, all workers should be scared of him :D:D
These videos are great and I like the channel, but unfortunately the cold reality that is reinforced in this video is that exploitation of poor people is an "acceptable" business practice. It sucks that people make 200 pounds a month to work six days a week.
The worrying thing is we cannot even manufacture a simple teddy bear in the UK. Service economy R us.
It just doesn't make financial sense. From the rental, rates, energy, cost of wages, business insurance... By the time you're done making one teddy you'd need to seel it at multiple times what the Indian teddy costs. Then you get to the UK consumer who expects John Lewis quality for Ebay prices. You'd be out of business in no time.
Good afternoon friends!
Many companies left Russia. Excellent opportunities for starting a business have opened up. Ready to help launch your business here in Russia. Any suggestions write me to the mail that is indicated in the profile, section "about the channel"
Sincerely, Denis Smirnov.
Yikes. Maybe after Putin's terroristic regime comes to an end.
Big companies left India because India government ripped them off. I hope you doing well.
Tax.... in India? LOL
Hi James, we are also trying to build soft toy manufacturing plant in india but facing challenges in expanding. Though we have done successful MVP. can you share Mani's details so that we can meet him and see if we can collaborate or undertand manuglfacturing process and support each other.
Mani added his 25% into all those wages as standard in Inidia, the lowest paid- the cleaners are on 100 quid a month, then up how he said, roofing at 35/40k /350-400 quid. No way is he paying top people 500 and cleaners 200, joke prices including his costs for rent, and cost to buy, all joke prices, just for his slice to be kept sweet, joke thing you got there m8
Cloud-seven - I have already posted a response to one of your comments. Sorry, but you really have no idea what you are talking about.
As I have said earlier, you are spewing nonsense. I am from the South of India, and even maids (who clean homes, not factories) are paid the equivalent of 150 pounds a month for doing a full day's job, working in homes. We ourselves have a house-help, and we pay her Rs. 15000 a month (ie. 150 pounds) plus her food plus her transportation. And we live in a very small town. Considering this is what a house-maid is paid, I would say Rs. 20,000 a month is very normal for somebody who works in a factory, in a major city, where this factory is located. We are forced to pay a minimum of Rs. 1200 a day even for a mason (in my small town). That is the equivalent of £350 pounds for a mason (in my small town). So, Rs. 50,000 for a highly skilled job is very reasonable. In fact, I would say it is even a bit on the low side.
Have you even been to India in recent times? Today, fresh graduates from small engineering colleges (with zero experience) even in small towns start on salaries of Rs. 6 or 7 lakhs a year (that is about £500 or £600 a month). Fresh Engineering Graduates (with zero experience) from the more highly regarded engineering/tech colleges could start on double that salary. So, a salary of Rs. 50,000 for a highly skilled person in a factory in a major city in the South is not just reasonable, but probably on the lower side.
The wages in Northern India are considerably lower (maybe half), because there is much greater poverty in the North, and there are a lot more unskilled labourers in the North. In fact, even in South India, many of the labourers are now from North, who are increasingly migrating to the small towns & villages of the South, because the wages in South India are so much higher (typically it can be twice or higher than what these labourers get in the North). Even in the small town I live in South India, most construction labourers are now mostly from North India, and increasingly we are even getting many illegal migrants from neighbouring countries like Bangladesh (who are obviously coming because they are attracted by the higher wages). A construction labourer in the small town I live in has to be typically paid Rs. 700 a day (£7 pounds a day). And there is no getting around this, because the minimum wages are legally stipulated by the State Government.
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