Robotics is a field which is growing rapidly and earlier where robots were used only for industrial purposes, now robots are also making Burgers on the same, cleaning and doing every small and big task to help humans. That is, the imagination we had before the robot is becoming a reality today. In such a situation, Scope and Business Opportunity has also increased a lot in this area and is going to grow faster in the coming time.
By the way, you should know that robotics companies come under the Artificial Intelligence Technology Industry and Robotics. Includes the Design, Construction, Operation, and use of Robots. The goal of robotics is to design such an intelligent machine that can help make the daily life of humans easier. Robots are also used for the safety purpose, which is used in the inspection of radioactive material, bomb detection, and deactivation.
Similarly, robots are being used in the manufacturing process, in space, and also in such places where we humans can’t survive like in radiation. Robotics companies make highly complex robots and sell them to other companies for industrial use and consumer use.
In such a situation, if you are also passionate about the field of robotics and want to make your place in this field i.e. want to start a Robotics Company, then you should like this company. The complete process of the opening should be known.
Today we are going to tell you Step by Step about this, so let’s go ahead and see what should be done to start a Robotics Company?
How to Start a Robotics Company?
Make A Clear Plan For Your Business
The first step is to make a clear plan for the business. You need to have a very clear plan to start a robotics company, like every successful business. In which you have the answer to all these questions,
- How much money is needed to start this business?
- Which will be your target market?
- How much are you going to charge customers?
- What will be the name of your business?
- What is the first step of your’s
To get answers to all these questions, you have to do a Deep Study about this field, So that you can know what are the requirements, expenses, and scope of this field. If you are educated in the robotics field, it will be very easy for you to do this. You also have to select the niche or category of the robotics field i.e. are you going to work in the Autonomous Robots category or Cloud Robotics? Will Soft Robotics be your niche or Fogg Robotics?
Also, find out the market competition in this process. To launch a Robotics Business you will need a production center, raw materials like Steel, Aluminum, Copper, Bronze, Brass, Foam Core, PVC, and Plexiglass. Apart from this, you will fulfill basic needs like Computers, Printers and High-Speed Internet Connection. Therefore, keep all these expenses in mind and then make a business plan.
Create A Legal Entity
You have to decide your business Structure Type and establish a suitable entity from the popular legal business entity like Sole Proprietorship, Partnership, Limited Liability Company (LLC).
Well, Sole Proprietorship can be the best legally suitable entity for small-scale robotics production businesses.
Register For Taxes and Open A Business Bank Account
Before starting your business, you have to register for many types of taxes and also have to create your business bank account. So that the accounting and tax filing process can be easy and your personal assets such as House, Vehicle can remain separate and protected from the assets of the company.
Obtain Necessary Permits and Licenses
Permits and Licenses are so important for the business that without them your business can be closed. Therefore, take this step seriously and fulfill the state and local business license requirements on time. You will get all the information about this from the club, office of your city and country.
This may require documents such as a Service Contract, Informed Consent Agreement, Labor Safety Requirement, and Certificate of Occupancy.
Collect Funds For Your Business
Starting a robotics production business can be quite expensive. Even if you are thinking of starting it on a very small scale but, you have to raise funds for this business. When it comes to Business Finance, the most effective way is to prepare a better business plan, because if you have a workable and unique business plan, it will not take much time for your bank, investors, and your friends to invest in your business.
For the fund, you can sell your personal stocks, apply for a loan in the bank, apart from this you can also take the help of Donor Organizations and Angel Investors.
Your business Insured is also very important to secure your business. Make sure to get Insurance and before getting insurance, taking insurance knowledge according to your business can be beneficial for you.
Because there are different risks in different types of business, according to which the insurance policy is created. General Liability Insurance is a common coverage for small businesses if you are not sure about your own business risk.
Protect Your Intellectual Property
If you are going to start a robotics production company, then you should also give protection to Intellectual Property like Trademarks, Copyright, and Patent. So that you can protect your company’s logo, other documents, and software.
Hire Technical Staff
This field is related to Artificial Development, Software, Apps, Graphics Software, Machine Learning, and Machines. That’s why you have to prepare computers, internet facilities, and office-related setup. Apart from this, you will have to hire such technical staff who will play an important role in running your company.
Like hiring a CEO, Production Manager, Creative Director, Robotics Engineers, Technicians, Accountant, Human Resources, Admin Manager, Sales & Marketing Executive, and Technical Help Desk Officer posts. You can do this hiring according to the budget of your company.
Choose A Location While
Choosing a location for your robotics production company, try to choose a central location. After the location selection, you must keep these things in mind, the demographics of the location, the demand for robots and robotic services in that location, the number of robotics production companies present in that location, the local laws and regulations of that community, or state give.
Create A Strategy To Increase Brand
You should create a strategy to increase the awareness of your brand or business. Apart from setting up your business and completing all the formalities related to the business, you also have to promote your brand. Only then will you be able to become a corporate identity. Therefore, develop a strong brand awareness strategy to attract your target market and customers.
In this way, you can start a robotics company and there is no fixed criterion for how much profit your robotics company can make. There is a lot of scope and profit in this business but you should come to do High-Quality Creation. Along with production purposes, robotics should also have the ability to make fine products for general consumers.
Top 10 Robotics Companies In The World
- Revenue: $142.4 billion
- Market Cap: $42.6 billion
- Assets: $188.5 billion
- Number of employees: 219,722
- Headquarters: Tokyo, Japan
- Revenue: $97.4 billion
- Market Cap: $75.4 billion
- Assets: $171 billion
- Number of employees: 385,000
- Headquarters: Munich, Germany
Sony (NYSE: SNE)
- Revenue: $79.2 billion
- Market Cap: $78.7 billion
- Assets: $208.3 billion
- Number of employees: 114,400
- Headquarters: Tokyo, Japan
- Revenue: $47.4 billion
- Market Cap: $227.6 billion
- Assets: $52.4 billion
- Number of employees: 171,992
- Headquarters: Kariya, Japan
- Revenue: $39.9 billion
- Market Cap: $52.9 billion
- Assets: $40 billion
- Number of employees: 114,765
- Headquarters: Foshan, China
ABB (NYSE: ABB)
- Revenue: $28 billion
- Market Cap: $401.62 million
- Assets: $46.1 billion
- Number of employees: 144,400
- Headquarters: Zurich, Switzerland
- Revenue: $15.3 billion
- Market Cap: $4.6 billion
- Assets: $14.1 billion
- Number of employees: 55, 255
- Headquarters: Iwata, Japan
- Revenue: $9.9 billion
- Market Cap: $5.6 billion
- Assets: $9.4
- Number of employees: 75,608
- Headquarters: Suwa, Japan
- Revenue: $9.7 billion
- Market Cap: $5.9 billion
- Assets: $15.5 billion
- Number of employees: 34,604
- Headquarters: Frankfurt, Germany
Rockwell Automation (NYSE: ROK)
- Revenue: $6.8 billion
- Market Cap: $30.04 billion
- Assets: $6.7 billion
- Number of employees: 23,000
- Headquarters: Milwaukee, Wisconsin
India is also growing rapidly in this area, first of all. Robotics was not produced so much in India, but with time, India has also started producing a lot more robotics. So let’s see India’s Top 10 Companies
Top 21 Robotics Companies In India
- ASIMOV Robotics Pvt Ltd
- Fanuc India
- Sastra Robotics
- Systemantics Robotics
- IFUTURE ROBOTICS
- Credence robotics
- Rapyuta Robotics
- Bharati Robotic Systems
- DIFACTO Robotics and Automation
- GreyOrange Robotics
- Gade Autonomous Systems
- Hi-Tech Robotics Systems Ltd
- Asimov Robotics
- Navstik Labs
- Omnipresent Robot Tech
- Special Mention
- Mukunda Foods
- Team Indus