Can you make Rs 1 lakh in just three months by trading red chillies? A fourth-generation spices trader says it is possible.
According to him, a person can earn Rs 1 lakh in profit in three months by starting with Rs 1 lakh. But he said anyone who wants to enter this business should first learn how it works.
The trader, whose family has been in the spices business for around 100 years, mainly deals in red chillies. Speaking about the money in this business, he said some of his friends have earned crores of rupees through the business.
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"There is so much money in this business that the British came to India after seeing the opportunities in this trade," the trader told Startup.In.
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According to him, with an investment of Rs 1 lakh, a person can make a profit of Rs 1 lakh every three months. But to make it a profitable business, the trader said people should first get a job at a grain market before starting their own business.
"The first step is to get a job at a grain market. They should work there for six months to learn how the business operates. After that, they can start their own business. There are different types of jobs available, and beginners can learn by working with people who are already in the business," he said.
The trader mentioned that there is a lot of money to be made in this business. He added that he had seen people earn so much through spices trading that they were able to build entire towns.
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"I have seen people build entire towns through this business. This trade has existed since ancient times, and it will continue to thrive," he stated.
Talking about his plans for the next five years, he said he wants to increase the quantity of spices his business exports to the countries it already supplies.
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