Top 10 Best Iron & Steel Related Business ideas

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The progress we see today couldn’t have been possible without the advent of iron and its alloy steel in the life of mankind. Iron and steel made us able to build dwellings of our choice, cook meals of our taste, transport from one place to another.

You can’t think of anything in the world which doesn’t have the shade of iron and steel metals. Iron and steel are fundamentally important metals mankind needs for a variety of purposes.

The use of iron and steel metals has expanded more than ever. They are used in construction and many more things. Given such uses of iron and steel, there are plenty of business opportunities worth your action including the following ten:

1. Hardware store

A hardware shop is the shopping destination of so many household items including hinges, plumbing supplies, keys, locks, electrical supplies, and housewares. These things are constantly bought by people with purpose to attain home improvements and fix a number of other household problems.

2. Make nuts and bolts

Nuts and bolts are very essential in fastening components of machinery, towers, bridges, bicycles etc. It is nothing new to know that as long as we continue build constructions & bridges, manufacture automobiles, motorcycles etc there will be a defined demand for nuts and bolts with time. One would require sufficient investment to initiate the business of nuts and bolts making.

3.  Iron Supplies business

Initiating an iron supplies business ensures the supply of iron bars, channels, angles, stripes to welders and fabricators who are engaged in making window grills, railings, balcony fencing etc.

4. Steel supplies business

Welders are fabricators don’t only use iron supplies, they also require steel supplies such as steel angles, stripes, channels etc for making various steel based structures needed in homes, shops etc. Selling steel supplies along with your iron supplies will help you generate additional revenues.

5. Iron factory

Iron factory is where iron supplies like as bars, angles, stripes etc are manufactured from iron ore. You, especially if you live in India, will greatly benefit from the ample availability of raw material and cheap yet skilled labour. However, a sufficient startup budget will be required for machinery, labour and raw materials.

6. Steel mill business

Steel mill is actually a factory involved in the processing of iron ore and production of steel products that includes blooms, ingots, slabs, billets etc. Abundant availability of iron ore and labour proves advantageous to the potential Indian entrepreneurs, however, the setup process is very intensive in terms of startup costs.

7. Wrought iron furniture 

You may also delve into a business that uses wrought iron in making a number of furniture products from simple tables to hand forget metal beds. While returns are great, investment required has to be adequate to start a wrought iron future making business.

8. Iron and steel export

Establishing an iron and steel export business is a great opportunity to explore in countries such as India, Australia, Brazil, South Africa etc blessed with abundant iron reserves.

9. Iron and steel import

Similarly, aspiring entrepreneurs who live in countries that heavily import iron and steel from foreign nations can consider opening a business that deals with the iron and steel imports.

10. Pipe Fittings Business

Without fitting material such as elbows, tees, sockets etc, it is hard to install new piping system and repair the defective one’s. Since, piping is every household’s need, opening a pipe fittings business can be the best option you could take.