The Lucrative Way To Start An Insecticide Production Company In Nigeria
Starting an Insecticide production company can be a very good business idea. Insecticides today are found in virtually every home in Nigeria. It can even be said to have the same frequency and utility in homes as normal home provisions (milk, sugar, butter, cheese, beverage, soaps and detergent et al).
It is used to kill and totally eradicate all unwanted and disease-causing insects in and around homes, offices, schools, hotels, restaurants and other public places. The implication of the above assertions is that the market for insecticides is very large.
Insecticide Production Company should be considered very keenly as an option if you want to start a business as an entrepreneur and you are targeting a business that can survive in any geographical location. It will interest you to know that insecticides are also used for agricultural purposes thereby enlarging the already wide market.
Good news for you! Can I see you smile a bit? That is good. Starting an insecticide production company is not a high capital intensive business. It is however very lucrative. This is possible when you penetrate the market. You are definitely going to face stiff competition in the market since there are already existing brands. Your creativity should see you through though.
I’m assuming you are considering this business idea seriously; therefore I will help you with tips that will be of the essence when you start your own insecticide production company anew. This will help you build it to a profitable state within the shortest time frame.
Tips on starting an insecticide production company in Nigeria
You need to undertake a feasibility study
This is not just about starting an insecticide production company but about starting any business at all. You have to carry out a feasibility study or market survey to assess the practicability of the proposed business before you fully resume.
It gives you firsthand information on what is required to start up your company, the likely competitions you will face, how to source for raw materials and safety and health measures needed for success.
Put up your business plan
The business plan is an essential part of starting an insecticide production company. It is a document that guides you in setting up and running the business. It is your business blue – print; a roadmap that clearly outlines your goals, objectives, and strategies.
It is important you know that if you are thinking of a long-lasting business, you will have to put up a very comprehensive business plan or get experts to do it for you. It allows you easy access to loans and investors.
Register Your Business and Obtain the Required License
This industry referred to as Agro allied / chemical manufacturing industry is overtly regulated. This is to prevent the proliferation of fake and substandard goods. It is therefore important to have your insecticide production company registered with the appropriate authorities.
After the registration, you can proceed with getting the required license so that you can go into production without fear.
Get a facility and buy the necessary equipment
Some locations are not allowed for the setting up of insecticide production company because of the toxic nature of the industry. Resultantly, you are to situate your company in a place that will bring little or no harm to people.
You are also to acquire the necessary equipment for your company so that you kick start immediately.
You will need people to work for you. You need both skilled (lab scientist et al) and unskilled (factory workers) in your insecticide production company. Your budget has to include money for salaries. You might have to make some money available for the salaries as the profits might not come until after six months.
Pay Attention to Your Packaging and Branding
The packaging is everything in the business world. When you start an insecticide production company, you are going to discover that there are many other brands in the market that you will have to compete with. You need to be ready by having a brand that is innovative and creative. You must have a well-packaged brand to be able to compete.
The essence of doing this is to meet peoples’ demands. Beyond the obvious quality of the content, the container has to be presentable. It is just that way otherwise you lose customers or worse still, you fail at attracting customers.
Create Your Market
Before you ever thought of starting up an insecticide production company, there were already existing companies. The implication is that for you to succeed here, you have to work hard at creating your own market. You must devise creative means of penetrating the market and building a loyal customer base.
You may start with neighborhood supermarkets and you could employ sales rep to help you take your products to the streets via road shows et al. You just have to know that the most important thing is to first secure a market, no matter how small it is as long as you supply your product steadily, you can build it up from there.