The Best Way To Start A Nail Polish Manufacturing Company In Nigeria
The fashion trend in Nigeria is rapidly changing, especially as it concerns the ladies. Nail polish is considered an integral part of almost every ladies dressing, and most ladies always at all times match the color of their nail polish to their clothing. This trend has presented a lucrative business opportunity in the Nigerian market and you can key in by starting a nail polish manufacturing company.
The purpose of this article is to put you through the pros and cons of establishing your own nail polish manufacturing company with ease.
3 Things You Need To Start A Nail Polish Manufacturing Company
No business establishment stands without a capital and nail polish manufacturing company won’t be an exception. Though much money is not required for starting up nail polish manufacturing company, you will need to secure a space for the business, buy raw materials and equipment and have a good advertising platform for marketing the products.
Validation by Food Drug Administration
Another necessary thing you have to put in place is to get a license or validation from (FDA) which is the body in charge of licensing food, drugs and related products. This is to certify that they are fit for human consumption.
Tips on Starting a Nail Polish Manufacturing Company In Nigeria
Get Training on How to Produce Nail Polish
Emphasis on getting trained in the production of nail polish cannot be overemphasized. Without having a standard training, you run the risk of not producing a product that can withstand the competition in the market.
There are some free videos and courses online that you can download and watch steps on nail polish manufacturing at little or no cost at all.
But if you plan to go commercial, I mean going big time with your company; then you have to undergo training with a top nail polish manufacturing company to get all the knowledge you need to produce the best nail polish in commercial quantity.
Then you should proceed to write a nail polish manufacturing business plan. You can add in some basic management and accounting course while you are at it.
The business plan is a detailed blueprint of any business. It will help you explore every possibility that might come up in the course of the business setup and how you can go about handling them to the best interest of your business.
Register the Company
After undergoing the training, the next step is to register the company, so as to run as a legal entity. If you wish to start small and run the business alone with few employees for starters, then you should start with a sole proprietorship registration.
But if you are starting up in a bigger way, with other persons as partners and many employees, then you have to register the business as a private limited company. Remember that you can also upgrade the company registration type in the future when your company expands.
Without registering your brand, anybody can manufacture the same product as you and this can have a very big negative impact on your business.
Source for Raw Material
Locating a good source of raw material is one of the major requirements in establishing a nail polish manufacturing company. Without the raw material, there will be no production and in effect no business. The main raw materials include; solvents, colors, resins, nitrocellulose which helps the nail polish solidify faster.
You need to find a supplier that can supply you the necessary raw materials at an affordable price to enable you to maximize your profit.
Before you start the production process; you need to work on the first sample that will serve as a framework or guide for mass production. You have to get others involved if you wish to create a quality and unique product.
You will need fashion persons, a professional in the nail production business and people to test the product until the perfect sample is produced. Once you get the first sample, it is time to start producing in commercial quantity.
Please remember to get the validation or license from the Food and Drug Administration (FDA) or its related body in your state. It will give your customers confidence in your product since they know that your product must be of a top quality for it to be validated by FDA.
This should be done in a way that will attract customers at first glimpse of the product. The packaging is usually done in a small transparent container; bottle or fiber container; then a sticker containing the company logo, name and location are placed on the body.
This should serve as a basis for your own packaging. You can customize the packaging a little by making the cover of the nail polish the same color with the nail polish inside.
No matter how good you think your product is, if you can’t get people to buy the product, then it is considered a failure. After the production, it is time to advertise your product to start making sales. Some things you can do to scale up your sales include;
Incorporate Private Label Right Service
This means that you handle contracts to design, brand and produce nail polish for other companies that wish to start a nail polish manufacturing company without having to do the actual production.
And trust me when I say that there are many companies and individuals that will place bulk orders for PLR production especially if they trust your company to produce high-quality nail polish products according to their specifications.
Most times, for PLR services; you just need to produce the nail polish itself and supply it to the company or individual that placed the order for them to handle the packaging and branding.
Any company or business that is yet to have an online presence is missing out on the millions of people visiting the internet every day who are also potential customers. The best way to build your online presence is to create a website that will serve as a Blog and an e-commerce site.
The Blog will serve as where you write fashion related articles that have to do with nail polish and its uses, and the eCommerce section will contain the company’s various nail polish products and options for people to place their orders on the site with an easy-to-understand payment system.
Being a new business, people are already in the market arena with similar products. You need to do something to attract customers to your product and one of those things is giving discounts to customers that patronize your product.
By so doing, you generate customer traffic for your product and before you know it, you are well rooted in the market environment and your product is widely accepted.