How to Start Exercise Books Production Business In Nigeria
You were once in school. You know more people are getting into school as the school enrolment rate continues to improve. One certain thing about school is that it’s a place of learning and reading and writing are inevitable. By implication, exercise books production business will always be a good business.
This means that you must write in school and to do that you surely need some exercise books. Imagine the number of people in schools across the country and the number of exercise books they need.
This is why it can only be lucrative to venture into the exercise books production business. Production of exercise books is a sure way to make money if you can keep with the demands of the business.
A couple of entrepreneurs are already leading the market in the exercise books production business. However, there is still room for new entrepreneurs like you to cut a name out for yourself in the business if you really want to because the market is ever expanding.
You need to understand that this business to a large extent is capital intensive. So, you should have enough funds before going into it.You would need some heavy equipment to go into the business. These can cost some pretty much funds.
If you are determined in terms of finance and the right attitude to venture into this business, then go on with this article because it is here to teach you a lot about how to go about setting up this business.
Tips On Starting an Exercise Book Production Business In Nigeria
For you to succeed in exercise books production business, you need to research and know some vital things like the type of people who are in this business, how they are able to raise startup funds, for which people are they producing, where they get their raw materials from, how much in general does starting the business gulp and what have you.
This knowledge will surely put you on a better footing to understand what you are really getting into and best equipped to confront the competition in the market.
Be an Intern
After getting to know the market more from your researches, you also need to know some practical things about the business. For instance, you need to know things like; how the machines are being operated, as well as the various measurements and dimensions used in this business and other things that may be of interest to you.
You have to do some internship with some people who are already in the business to be able to learn and understand this. This will prepare you to start an exercise books production business
Put up a Business Plan
This is vital in every business and will be of help in starting and running a successful exercise books production business. You may require the services of an expert who would help you see that things are put in place. This might be for a fee. On the contrary, you may lucky to meet someone who would want to do this by offering a pro bono service.
Your business plan must have details like how much you intend to start the business with. How many machines you want to start with and in the future how many you should have grown into. The number of workers you want to start with, as well as future projections among other things.
Get a Location
The exercise books production business is one that involves the use of heavy and noisy machines. So, locating this kind of business requires special need. It’s not a business that can be located in a residential area as the noise pollution can be damaging.
You surely need to rent a space in an industrial area to site your business. So, have this at the back of your mind before you venture into this business and make provision for rental funds.
When you have a location for your business, the next thing is to proceed to acquire the equipment you will be working with. These may include cutting machines, printing machines, a plant, air conditioners, or fans and other equipment you may deem fit.
As you will be working with a couple of machines and in a couple of processes, you cannot practically work alone. You need to hire people to be part of the process. You can go ahead to hire experienced people who fit into the positions you create in the company.
This to a large extent has to do with operating the machines and other duties. The people you hire will determine the success of your exercise books production business.
After completing the above processes, you should go ahead to commence production. Do well to standardize your production processes so that you do not churn out substandard products. Always make yourself available to supervise the first batch and be sure to compare them to that of your competitors. This is where your internship experience comes in handy.
As pointed out earlier, there is a good deal of competition in this business line. There are a couple of established names in the business already. For you to do well, you also need to find a way of getting people to know about your products.
You can advertise your product in a couple of ways. You can visit schools to tell them about your brand of exercise books, also tell wholesalers in the bookshops as well as the open market for your new products. Also, try giving some free copies of the exercise books to help make people aware of the product.
Keep to the above steps and also monitor your competitors in the market to know what new thing they are doing each time and try to match up to stay competitive.