How To Start A Foam Production Business In Nigeria
Various foam products are different in terms of shapes, sizes and even uses. The uses of foam products cut across making of furniture, mattresses and other things. That is why you should start a foam production business in Nigeria.
However, the flexible polyurethane foam popularly known as foams are made from three major raw materials thus: POLYOL, TDI, and WATER.Water is necessary here because it’s the element that gives the foam its vital quality to rise and fall.
The foam production business is a capital-intensive one. However, it’s a highly profitable one that stands the test of time. It’s one business that can give you so much at a very short time if well handled. I have to point out here that due to the rigorous process of production, it requires serious experience.
You may need to acquire some good experience before venturing into this. If at this point you still nurse the ambition to venture into this business, you only have to read on as I guide you through.
Tips On Starting A Foam Production Business In Nigeria
Carrying out a study about any business is always the best way to start; this one is never going to be an exception.
Carry out a market survey about this business and the foam industry at large to find out issues bordering on: how the raw materials are got, the various competitions there are, those who are in the foam production business, how much it would cost to run yours, amongst many other things. In this kind of research, the internet is always your companion.
You can also try visiting a factory you know to ask questions.
Get Hands-On Teachings
You may still need some practical guidance in foam production business. You have to learn from an expert who has vested years of experience in this business. You can be an intern or volunteer under him for some time.
Working with an expert here will help you get some answers to some of the questions you ask during your market research.
Learn About the Various Processes
Learn about the various processes that are pertinent and vital to the production of foams. You would need to really put an eye on what the expert says for you to be able to grasp this fully. Some production processes take about 72 hours, whilst others could be more or less.
Also, learn how the various shapes of foams are achieved-that is for mattresses, cushions, and pillows. Also, the slab stocks, as well as plates and sheet processes.
Register Your Business
A foam production business is too big a business to run underground. You must have to register it. Also, to attract corporate clients and private individuals alike, you will have to register your business because this set of clients won’t patronize an underground business.
To register your business, visit the corporate affairs commission and follow the necessary processes as specified by them. Endeavor to fill out all the forms and provide all required documentation in the course of this registration.
Patent a Name
You have to create a brand for yourself. There are various brands of foams in the market. You have to come up with a brand name for your foams. This will serve for people to differentiate your brand from other brands. It gives u uniqueness in the foam production business.
Do not try to imitate other brands in the market with your name. This can be disastrous because the people may perceive your product as fake thereby damaging the market reception of your product. Do visit the patent office in the country to get your patent name registered.
Pool Resources Together
As I mentioned earlier, the foam production business is a capital-intensive one. You need some huge funds to get started. You can finance your business from personal savings if you have enough of such.
You can also fund such business through angel investors, family, and friends if you do not have enough investment. Another means of raising funds is through commercial banks. You can look for banks that require little or no collaterals for loans and approach them for loans.
Get a Location
Your next port of call is to get a befitting location for your factory. You may want to consider an industrial estate that is away from residential area. Ensure that your realtor gets you a place that can accommodate all the equipment that you procure. In addition, do not forget that you would need space that can serve as a lounge for your factory workers.
Get to identify all the vital equipment and other high-tech machines you need to produce high-quality foams. Find out the suppliers of these equipment and raw materials and chose the best and cheapest brands for your business.
This is an economical way of starting your foam production business. You may ask those who have been in the business for advice. However, if you do not have enough funds to purchase new ones, you may make do with fairly used ones as a starter.
Sure you wouldn’t want to start out on a sorry note. Go for the experienced workers. You need workers who are able to take on the task that would make clients come running back as a result of good quality.
At this point, you are good to go into production. You have to ensure that there are laid down rules of engagement for the workers to follow. These rules will connote standard practices and act as a check to your employees’ actions as you will not always be there to monitor them.
Do well to market your products as that will go a long way in making your foam production business a success. There are several ways to do this. You can consider road shows near marketplaces or malls, advertising to furniture makers, other mattress makers and what have you. Also, you must stay abreast of new trends in the industry and be flexible enough to adapt to innovations in the industry. This will help you stay competitive and successful. Lastly, do not underestimate your quality.