According to credible reports, silver nanowires market size is projected to exceed USD 1.5 billion by 2025. Silver nanowire is set to become a prominent component in today’s highly advanced technologies that find significant usage across optical, conductive and anti-microbial applications. This is expected to transform the outlook of global silver nanowires industry in the upcoming years.

The reason silver nanowires are gaining massive traction for various applications is their relatively higher transmission rates and lower resistance. This combination has significantly increased their usability in the electronics sector as it facilitates 10-finger touch, longer battery life and brighter displays that are known to be the critical elements in enhancing the user experience.

In addition, silver nanowires are highly flexible which makes them versatile. Thin and curved silver nanowires are largely used in kiosks, wearables, solar panels, point-of-sale devices, gaming machines, automobile displays and GPS systems. Besides, silver nanowires are cost-effective as compared to other similar materials.

Amid the rapid expansion of electronics industry across the globe, the application of silver nanowires is also increasing enormously which is positively influencing the industry landscape. This is encouraging the manufacturers to develop more advanced solutions that can effectively serve the accelerating product demand. Quoting an instance, in 2020, NanoDirect, a materials science firm involved in developing advanced flexible and printed electronics, announced the launch of Direct Silver, its silver nanowire range. According to the company, this new offering has been designed to be used in highly conductive and transparent electronic coatings and inks used in printed and flexible electronics.

Speaking on the thriving electronics sector, Asia Pacific is known to be a prominent hub of electronics with the strong presence of large chipmakers, semiconductor and consumer electronics companies such as Taiwan Semiconductor Manufacturing Co., Samsung Electronics, Sony, SK Hynix, etc. This makes it a strategically significant region for silver nanowire market.

According to Taiwan’s Ministry of Economic Affairs, production recorded by the domestic electronic components industry increased by 19.33% in 2020 as compared to the previous year. In addition, industrial production across the native optoelectronics and computer industry also increased by 11.02% in 2020 as compared to 2019. These figures provide lucrative growth prospects for silver nanowire market in Asia Pacific.

Apart from electronics, silver nanowires find important applications in medical domain. Their excellent optical characteristics have impelled their application in medical imaging which is used for producing images of various human body parts for treatment and diagnostic purposes. With the significant rise in the incidences of chronic and other serious disorders in the past few years, the deployment of medical imaging technology has tremendously increased.

According to the World Health Organization (WHO) statistics, noncommunicable diseases like heart disease, cancer, chronic lung disease and diabetes are collectively responsible for around 70% of the deaths globally. This is anticipated to propel the demand for X-Ray, Magnetic resonance imaging, endoscopic, tactile imaging, etc. which in turn will drive the adoption of silver nanowires in the subsequent years.

Monetary organizations in India offer a wide cluster of home loans to buyers. Regardless of whether you are hoping to purchase a home, or expand or redesign your current home, banks these days can assist you with altered designs to meet your extraordinary home loan needs.

So before you start inquiring about how to get a home loan, it is important to give you the lowdown on the various kinds of home loans so that you can choose the right loan as per your needs.

Home purchase loan:

As the name proposes, this is the most well-known home loan benefited while purchasing another home. All significant banks including SBI, HDFC, ICICI, PNA, and Axis Bank offer home loans.

You will get a limit of 75-85% of the worth of the house as a home loan.

Home improvement loan:

Banks offer home improvement advances for the augmentation, execution of fix works, or redesign of a home that the borrower has effectively bought. The borrower can utilize the credit sum for outside or inner improvement of the house.

A few banks offer a different classification of advances for home expansions and call those credits home augmentation advances. All significant banks in India offer home improvement advances.

You can benefit around 80-90% of the working gauge. For additional subtleties, read our restrictive post on home improvement advances.

Home construction loan:

The home development credit is ordinarily offered to clients who are searching for assets to build another home. The financing costs and application measure is equivalent to some other sort of home loan.

Home conversion loan:

Purchasers can bring home transformation credits in the event that they have effectively taken a home loan from a bank for purchasing a house and are presently searching for an extra advance add up to purchase another home. The exceptional sum for the past advance is moved to the new advance.

This kind of credit is normally profited by individuals who like to kill the need to pre-pay the past or existing advance. In any case, since these credits are intended for second homes, borrowers may need to pay a higher pace of revenue than new home loans, contingent upon the arrangement of the bank from which they plan to acquire.

Land purchase loan:

This sort of credit is benefited by individuals who need to buy land either for developing a home or only for the venture.

It is important to know that Buying a farming area isn’t permitted under this advance.

All significant banks in India offer this advance. The residency of a land advance is a lot more modest than that of a home loan and normally runs between 5-15 years. This implies that your EMI will likewise be somewhat higher.

The credit to esteem proportion of land advances lies between 60%-75%, and most banks have a cap on the greatest sum that you can acquire. You’ll need to bear practically 30%-35% of the expense as an upfront installment. The financing costs for most land credits are generally at standard with home loans.

Bridge loan:

These are redone advances for people who need to sell their current homes and purchase another home. As the name proposes, this credit connects the monetary hole that is made while purchasing another home and discovering a purchaser for the current house.

The scaffold credit is a transient advance that can be profited in the meantime time of purchasing another home and selling the bygone one. Since it’s anything but a transient advance, financing costs are marginally higher than standard home loan rates.

To profit from this advance, you should outfit subtleties of the new property to the bank. In the event that you can’t discover a purchaser for your old house inside six to a year of profiting of this kind of advance, then, at that point, your bank may feel free to change over it’s anything but a home loan advance, with a higher pace of revenue.

Balance transfer home loan:

An equilibrium move home loan empowers purchasers to profit with lower loan fees on the lookout. Despite the fact that RBI demands that lower loan cost advantages ought to be given to existing clients, the vast majority of the banks in India abstain from doing as such, consequently making an equilibrium move a rewarding alternative for borrowers.

Under this sort of advance, existing home loan clients change their home loans to another bank to profit with a lower rate of interest. An equilibrium move-home loan lessens the weight on purchasers with existing home loans.

Stamp duty loan:

Banks offer the stamp duty loan to help buyers bear the cost of stamp duty to be paid during registration of the property.

Reverse mortgage loan:

This is a somewhat new idea in India that is pointed toward giving monetary help to senior residents. Under invert contract credits, the borrower vows the property, and the bank then, at that point shows up at its present market esteem, after which the bank dispenses the advance sum as occasional installments to the borrower.

Your monetary wellbeing is pretty much as significant as your physical wellbeing. Absolutely then, at that point, your credit rating is a fundamental marker of the previous. Regardless of whether it’s the new condo you are looking at or a business that you are wanting to set up or basically the clinical costs of your friends and family, a loan could be required whenever. In that capacity, the principal thing a bank searches for, prior to loaning cash, is whether you qualify with the necessary credit assessment for an individual loan or a vehicle loan, or a shopper loan. This is to find out your danger worth to the bank. Following are only a portion of the vital approaches to guarantee you keep your credit assessment, well better than expected.

Pay your dues on time: This is the absolute most significant factor which impacts your credit rating. Clear your exceptional contribution on schedule. At the point when you spend from your credit card, ensure you don’t simply pay the base sum needed to proceed with the use yet fork over the required funds or the most extreme sum which you can manage for that specific month.
Cut down on Credit Cards: Despite the fact that there is no limitation on the number of cards one can utilize, it is smarter to have just however much you can pay for. For example, on the off chance that you have various credit cards, your absolute credit increments, yet then you may likewise need to pay a base to add up to keep up with the cards. What’s more, it’s not difficult to forget about the installment duty particularly on the off chance that they fall on various dates and have a variable sum. A progression of defaults is adequate to pull your score down. A superior method to expand your credit limit and reduce the spend proportion is to have close to 3 credit cards at a time. In the event that you have just one, and you are satisfying the obligations on schedule, then, at that point in no way like it. One more advantage of limiting your credit cards is chopping down the likelihood of personality misrepresentation, by confining the escape clauses promoting your record.
Use your Credit Card responsibly: More often than not, widespread utilization of Credit cards is responsible for a low Credit score. It’s anything but a decent practice to utilize your Credit card with the thumb decide that you confine your spending upto 30-35% of your credit limit. Assuming you as often as possible need more cash than that, you may settle on another Credit card. Think about your Credit Card as a need, not as an extravagance.
Old is gold: A decent history of opportune installment displays mindful conduct. Try not to rush to delete your records from the records whenever you have taken care of your obligations in full, in light of the fact that a record of paying EMIs on time is really a boost to your credit score. Additionally, on account of the credit card, in the event that you are wanting to end the abundance ones, ensure that you hold the more seasoned ones and take out the more up-to-date ones. A charge card with a long history of ideal installments demonstrates a decent history.
Limit your loan applications: It could happen that you apply for a homeowner loan at a bank, yet it gets dismissed attributable to a low credit score. In such a case, don’t hurry to re-apply with another bank as they would have the option to see your dismissal by the past bank. This could additionally hurt your credit rating and compound the situation. On account of Credit cards, applying for numerous cards all at once demonstrates an eagerness for credit conduct.
Be cautious with inquiries: At whatever point you need to purchase another vehicle or another house, you would need to settle on a home loan. Also, it’s a typical practice to enquire with different banks to look into the loan fees before you break the ideal arrangement. Be that as it may, banks check your financial assessment each time you enquire. Such a request is named a hard request. Various successive hard requests are sufficient to hurt your financial assessment. Indeed, as a quick result, it might even influence the measure of credit that you are qualified for.

7. Keep a track of your Score: Checking your credit rating routinely is a decent and innocuous practice. It assists you with keeping a mind your monetary wellbeing and as needs be devise satisfactory measures to correct it. You’ll be needed to include some essential data and answer a couple of questions to get to the report. There’s no restriction to the occasions you can check as this is a delicate request and doesn’t influence your Credit score.

INTRODUCTION

Preparing the materials and systems needed for your first gift sales presentations is the most important task you need to accomplish before visiting your first potential retail store buyer. Most people assume the hardest work goes into making the product, but if time is not spent developing and setting up the systems you need to wholesale BEFORE you visit your first buyer, you will find yourself in a confusing and overwhelming mess! And you will look very unprofessional to your potential buyers!

RETAIL/WHOLESALE PRICE STRUCTURE

As a general rule of thumb, your wholesale price should be 50% of your retail price. If it is less, you will have a difficult time selling your products wholesale. Often, it will take some work to make sure there are adequate margins for you both and the gift retailer.

Here is a formula to use when determining pricing for your products:

First step is determining your cost per unit. Costs include the following:
o Ingredients or raw materials
o Processing or assembly of raw materials
o Packaging and labeling
o Shipping of raw materials to your place of business

Second step is to determine the retail or selling price of your item to the consumer. Using a competitor’s selling price is a starting point to ensure you are in the same price range. From the selling price, you work backwards to arrive at the wholesale price you should charge.

From the retail or selling price, subtract the retail and distributor or sales rep margins. Most retailers in the gourmet foods industry use a margin of 40%, whereas gift retailers use a 50% margin. Distributor margins are generally 25-35%, and broker or sales rep commissions are general 15%. Even if you currently do not use distributors, brokers or sales reps, these margins should be included in your pricing. As you grow and add these services, you want to have your pricing in place.

As a manufacturer, you should aim to retain a 40% gross margin. This gross margin must be large enough to cover overhead, administrative costs and marketing expenses.

Example:

If the retail or selling price is $5.00, total manufacturing costs per unit are $1.40 and the manufacturer pays shipping costs of 5 cents per unit, you would sell your product to the distributor for $2.20.

PAYMENT TERMS

Typical standard payment terms for selling to gift stores are Net 30 days. In other words, you deliver or ship your products and in 30 days the retailer will pay for the order.

Credit card payment is another standard payment method which is becoming more popular with gift store buyers.

Other payment terms which are not as common are as follows:

o Pay via PayPal. In the eight years I have been a sales rep, I have not seen a store use this option, but it is available if you have a PayPal account
o 2% Net 10. If the store pays their bill in ten days rather than 30 days, they can deduct 2% from the total due.
o Net 60 or 90 days. In the event that you wish to get your product on the shelf quickly, but have the cash flow to wait longer for payment, this is a good option. I used Net 60-90 to promote early sales during a very slow season.
o Pay half the invoice amount when the order is shipped or delivered and pay the balance due in 30 days. I used this option with a store that was historically late with their payments.
o COD or cash on delivery. If you deliver your products, this option will probably work, but I don’t recommend it if you are shipping.

Which ever terms you decide to use, remember to investigate all your options and be well prepared when offering payment options to your potential buyers.

SALES AND ORDERING MATERIALS

Sales material for the retail store buyer is very different from the color brochure you may hand out to consumers. Gift store buyers want to know five basis facts about ordering your products:

1. What does it look like?
2. How much does it cost?
3. What is the minimum order?
4. What are your terms?
5. How do I re-order?

Your sales material should answer all these questions.

Simple, but effective, sales materials can be created on your computer. Start with a picture of your products and make sure you include all the information that answers the five questions above: List unit and case costs, minimum amount for orders, ALL the terms you will accept, and your contact information (phone, fax, email and website). Sales sheets can be copied and left with buyers.

Write your orders in sales order books which can be purchased at any office supply store. Two copy sales order or general order books work best as you can use the top for your records and a second copy for your buyer. Rather than having the sales books personalized (an expensive process), you can print a small label to adhere to the buyers sales order copy that includes your name and contact information. Leave this copy with the buyer.

If you are able to buy or create business cards, give one to the buyer or store manager. Business cards make your company look more professional.

DELIVERY SYSTEMS

Determining how you will get your products to the retail outlets is often an overlooked point in the wholesale sales system. You can give a perfect presentation to gift store buyers, but if you don’t have a delivery system, your products will never make it to the shops!

Listed below are a few options to getting your products into the store.

1. Deliver the products yourself. If you have a small territory to cover, delivering your products is not a bad idea.
2. You can hire a distributor to handle your products. Often, with this scenario, you would sell your products to a distributor at a deep discount who would warehouse and distribute them via their system.
3. You can ship your products to the retail outlets. This is the most common way to get your products to the shops. With this option, it is customary to bill the retail outlet for the shipping while you pay for the cost of packing your products.

If you decide to ship, make sure to check out the shippers available in your area. UPS, Federal Express and US Postal Service are three very reliable shipping vendors. Each company has their own requirements for packaging, insurance and delivery time. You should acquaint yourself with the specifics of all the companies you plan to use. Most freight companies have websites where you can open an account and print labels right from your computer.

BOOKKEEPING AND DATABASE SYSTEMS

Setting up a good system to track your gift store buyers and your sales is necessary to maintain your sales records.

Bookkeeping Systems: QuickBooks is the most commonly used computer bookkeeping system available. You can use QuickBooks to invoice, track sales, expenses, accounts payable (what you owe people) and accounts receivable (what people owe you!).

If you decide to use QuickBooks, you have the option of using QuickBooks Pro or QuickBooks Premier for Manufacturers. Pro version is the standard basic bookkeeping system whereas Premier will allow you to track inventory and cost of good sold (cost to manufacture your products).

Or if you wish to use just a very simple system to keep track of sales, Microsoft Excel gives you the option to list each sale and payment dates.

Database Systems: Depending how intricate of a system you want, there are several different options for database systems. Microsoft Access has many field options depending on how much information you wish to retain and gives you the option to print mailing labels if you want to send newsletters to your buyers.

QuickBooks has an add-on program called Customer Manager which can manage more advanced customer information such as recent contacts, phone messages, calendar notes, and TO DO lists.

Lots of customer management systems are available, just like there are more bookkeeping systems you can use. The important point is to use what will work best for you and meets your business needs.

FOLLOW UP AND RE-ORDERING SYSTEM

If you have followed my suggestions so far, you should have the beginnings of your re-order system in place.

One of the first places a buyer will look for re-order information will either be by referencing your invoices or your order receipts. Including your contact information, email, phone, address, and website (if you have one) on these forms is critical to ensure the buyer will be able to re-order from you. And if you have left your business card with the buyer, even better!

So you set up all these systems… left all the appropriate products and materials with the buyer… and now your wait to hear back from the buyer….. WRONG!! Buyers are very busy people and will seldom call you with a re-order (although, I have been wrong about this!). Often times, your product will sell out, be filled with another product, and the buyer will forget your product was there originally!

Keep in touch with your buyers. I recommend that you call about 30 days after they receive your order. Check to see if your products arrived promptly and in good condition and that they are satisfied with the order. Buyer’s answers will give you some clues as to how well your products are selling. You might ask them when you should check back with them. Or just call again in another 30-45 days depending on how well they tell you the products are selling.

If you have added each customer to a database such as Microsoft Access or Excel or one of the customer management software programs, you can tract and schedule when you should follow up with each account. Personally, I use a mix of Microsoft Access and Outlook to remind me.

Follow up is very important, like I said, as buyers can and will lose track of your and your products if you don’t!!

CONCLUSION

Simple planning and implementing systems BEFORE you make your first sales presentation will aid you in keeping accurate records and keeping a professional profile when visiting gift store buyers.

Sandy Dell is an experienced independent sales representative for the gift industry. Having operated her own business for over eight years, she has gain valuable knowledge in working with gifts store buyers and producers. She is also co-owner of Gourmet Innovations which makes gourmet foods and gifts. “I have been on both sides of the counter”, she tells her buyers. More than that, she understands the needs of the producer and the gift buyer and knows how to communicate to both groups!