A Complete Guide On How To Start Profitable Toothpick Production Business In Nigeria
I remember a statement in those days against the production rate in Nigeria. It was even stated that Nigeria could not produce even a simple toothpick. Can you imagine that? It was that bad. Today, I think the story has changed. Nigeria has become better because a lot of things can now be produced in the country. For one, you can start a profitable toothpick production business in Nigeria.
The truth is that the production of toothpick might sound too difficult or too easy pending on the perception. But the knowledge on the actual process coupled with the right guidance will definitely make it very normal.
Remember, there is a nationwide demand for toothpicks. You only need to look at how many people eat food every day to know that at least, over 200 million pieces of toothpick are used daily in the country. That is massive.
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It may not seem like the normal everyday luxurious production but it does solve a need. Remember, any product that solves a problem will always be needed irrespective of how stupid it may look.
Given the change in trend in government policies which has opened the economy for local production, to start a profitable toothpick production business now seems like a nice plan. Not so many people are into it yet so you can take the time and explore the aspect.
Remember, this business is about the manufacturing of different kinds of toothpick for personal and commercial uses. There is no target customer base as everybody makes use of the product. It can be produced from bamboos, plastic granules, and birch wood. Do I need to tell you what it is used for? I guess that is irrelevant since the name explains it all.
The toothpick product is largely imported but you can breach that gap if you start a profitable toothpick production business in Nigeria. We are going to show you how you can handle the production and the opportunities you will find in the business. It is going to make for a complete package.
More so, we will offer consultation and business plans to anybody who would want to start the business at an affordable rate.
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The business Opportunities Available To Toothpick Producers
For those searching for businesses that will sell and get enough turnovers, I will advise you to start a profitable toothpick production business because it has potentials and opportunities. Here are the opportunities;
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Domestic business opportunities
At the completion of production, you can sell in bulk to wholesalers and retailers who will, in turn, sell to the final consumers. So many people use the product at home and that shows you the potentials it has.
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The opportunity in the food industry
In the commercial food industry, there are so many service-based businesses that require the use of toothpicks. You will see hotels, those that offer catering services, bars, fast food outlets, restaurants and so many others who will need toothpicks to serve their customers better. They provide a nice business outlet for toothpick producers.
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Export Business Opportunity
Well, this may not be a vintage business opportunity in the toothpick production sector but it can still be explored. If you can produce in quantum, you can export to the neighboring African countries and make so much money from it.
Guide On How To Start Profitable Toothpick Production Business In Nigeria
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Research the business
The success and failure you will record in this business will depend on the research you will carry out about the business. You need to take your time to find out all there is to know about the business so that you will know exactly what you are doing.
It is from your research that you will make a decision on the next thing that we will discuss. It will show you the location that you will pick and the capital involved. It will help you in putting up your business plan.
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Pick a toothpick production business
Like we mentioned above, there is birch wood toothpick, plastic granules toothpick, and bamboo toothpick. Therefore, you will need to decide which you like to start. It very important as it may be difficult starting all. The availability of the raw materials should come to mind when you want to choose and you should also think of the closeness to buyers. You see, the research is important in picking this one.
Show me a good business that does not have a good business plan and I will show the biggest fallacy of all time. To succeed in any business, you will need to have a well-written business plan. There are aspects that it will cover that are crucial to your business success.
The business plan will guide you on how to secure the capital needed for the business, bring the necessary machinery and equipment, pick a location, handle investors, work out the exit strategy and handle the financial cash flow.
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Raise capital
You will need money. I believe you already know that. You will need to handle production and operating costs and that will require money. You will need raw materials, pay for your location, buy machinery, get the needed staff and pay other bills.
Therefore, you must work on raising capital for business. You could use your personal funds, get loans from banks and other financial institutions, and explore the investor’s option and crowdfunding.
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Pick A Location For your business
In a business setting, the location you chose will have untold implications for its success. To start a profitable toothpick production business, you will need to have a location that is very strategic. You will need a place that is close to the customers so as to have ease of distribution and transportation.
It has to be quite large so as to contain the machinery and equipment needed for its production.
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Register your business
One of the requirements you must meet up with when you want to start a profitable toothpick production business is to register the business. In fact, any business you want to start in Nigeria must be registered. It is the standard requirement.
The registration is usually with the Corporate Affairs Commission (CAC) in Nigeria. if there are other necessary organizations, you must register with them to avoid unnecessary disruptions.
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Obtain quality permits
To operate a toothpick production company in Nigeria, you must have a trade license to operate. You must get this permit. I don’t have to remind you that you need information on VAT, pollution guidelines and other certifications. Get them.
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Buy the needed machinery
This is a digital world and an automated one for that matter. Toothpick production has gone automated. The machines needed to handle them are automated machines and you will need to get them.
There are the semi-automated machine and the fully automated injection molding machines. Some of the machines include; sharpening machine, slitting machine, dry color mixer, slicing machine, scrap grinding machine, Round cross-cutting machine, a variety of molds, packaging machine, polishing machine, weighing scales and mold lifting machines.
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Advertise and Market Your Product
The final piece of the puzzle when you want to start a profitable toothpick production in Nigeria is the advertisement and marketing of your product. It is as important as the production of the goods. You must have differently packaged toothpicks and you must know the differences involved.
Put up a marketing plan so as to get your goods down to the buyers. You need to have a strong distribution channel so as to have people and businesses that will buy from you. money must be spent exploring online and offline platforms for advertisement and marketing.
Conclusion
Businesses are interesting aspects of life. We hope that one day you will need to start something like this. I pray that you do the needful and come up with goods. You will need to have all you need to start a profitable toothpick production business in Nigeria. Most importantly, if you will need to have a business plan for this business written for you, we will be very happy to help you out.
