Bead Making Business Plan in Nigeria

Our Sample bead making business plan in Nigeria and feasibility study is up to date and can be used to access grants, loans and proposal writing in Nigeria and abroad. Furthermore,this article will be answer the following questions for you:

Also Read: Tailoring Business Plan in Nigeria

Overview of bead making in Nigeria
How to start bead making business in Nigeria

To get your sample Bead Making Business Plan In Nigeria, pay N10,000 to:

BANK NAME: FIRST BANK PLC

ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM

ACCOUNT NUMBER: 3066880122

After payment, text your full name, email address and title ( e.g. business plan for selling for bead making) to 07033378184. Your business plan will be sent to your email within 15 minutes.

Read On!

Beads have been a major part of our cultural heritage from time immemorial. A lot of people see beads today and feel they are a modern invention. Ironically that is not the case, beads have been existent for centuries, the only difference today is that they have been modernized such that they look more sophisticated.

Due to the popularity of beads in Nigeria a lot of young ladies have grown increasingly interested in learning the art of bead making. You might wonder why I call it an art and not a business. What you should know is that this business depends on how creative the individual is and how wild the imagination can go. Once you are able to satisfy these criteria then you begin to ask the question, how can I start a bead making business in Nigeria?

Hundreds of people run away from the idea of starting a new business, they will rather just work for someone or an organization and earn stipends monthly. This fear is the reason why a great number of people have not been able to utilize their inborn abilities or fulfill any potential. Starting a business is a risk, one which can make or mar an individual. Most times the challenge is taking the first step. A major hurdle to cross for many is raising the capital needed to begin the business. Today however, several methods of raising capital have been made available at different levels.

Asides getting capital from these quarters, there are small and medium scale businesses that can be run with minute capital. Though the capital outlay for these businesses is small compared to others, with dedication and proper management the entrepreneur is bound to make great profit at the end of the day. One of such small scale businesses is bead making.

A brief look at the bead making industry and you will observe that a huge number of the participants are young people who are out of employment. Most of them were driven into the business due to lack of better jobs, only to stumble on a goldmine of sustainable income. A major reason for the profitability of the bead making business is the fact the use of beads is a major part of our dressing as Nigerians and indeed Africans. There is practically no occasion where beads will be out of place. You may begin to wonder why that statement but what you should know is that there are several kinds of beads. The occasion to be attended will determine the kind of bead to be used.

Before we go ahead to discuss how to start a bead making business in Nigeria, the profitability of the business and the necessities to be satisfied in starting up, let us check up a few details about beads.

What is bead making?

Firstly, bead making is the art of firing clay or glass and inserting a hole in the middle to form a beautiful jewelry. This is the first stage of bead making, one which so many people have no idea about. It is not really common as those involved in general bead making just go to the market to get materials for their trade.

Now to the kind of bead making which is the subject of this article. Bead making is the artistic arrangement of beads (fired up clay of glass) on a wire or thread to form different designs. These arrangements could be used to create necklaces, anklets, rings, crowns, ear rings, bracelets, etc. All of these as we know are used for the adornment of the body, especially when attending traditional ceremonies. Beads are mostly used by women, though most men also use them on important occasions, to accentuate their beauty and make them standout.

Purpose of bead making

There are several purposes for indulging in bead making. We all know they are mostly used to make an individual more beautiful but there is a wider picture. Here are a few reasons why people take on bead making as a profession.

This is a major reason because most people are involved in this business just so that they can raise funds for their daily survival. People have needs and will undertake any available means to meet those needs. Bead making is one of such means.
Beads are used as part of the dressing for social events. Some people make beads just so they can use them at social events.
You can hardly separate beads from our culture as a people. There is no ethnic group within the country that does not have beads as part of the heritage. To some they have specific colors for specific individuals and occasions. To others, any bead goes for any occasion.
Beads are used as spiritual instruments in most religions. To this end, beads are strung together for spiritual purposes.

Uses of beads.

Generally beads are used in making the following:

Bags
Crowns
Hand bands
Shoes
Blouses
Table mats
Decoration materials
Prayer beads
Ornaments for the body.

Tools for Bead Making in Nigeria

The following materials are used in the art of making beads:

Straw
Seed
Baked cay of glass
Fishing line
Stopper
Rope
Holden
Clip
Middler
Plier
Blade

How Lucrative is Bead Making business in Nigeria

Considering the capital required for starting the bead making business, the business is regarded as one of the easiest to startup in Nigeria. There are several reasons for this, one of such is that you do not need to rent a shop or an office to startup. You can start the business from your residence and think of renting a place much later when the business is established.

The second and most interesting reason is the fact that you need so little to make so much in the business. Here is a brief breakdown. Generally the cost of production of bead, let’s say a necklace, is roughly #200. You can sell the bead for as much as #1,000 (general market price). That is #800 or 80% profit. This is just a picture of how profitable the business is.

As stated earlier beads are used to almost every occasion by so many people. This means that the market is very large. If you are very artistic and can bring your imagination to play on your craft you can be sure to make huge sales. This because you will have an advantage over the competition with your artistry.

Types of beads most common in Nigeria

There are several kinds of beads which are used for different occasions and purposes. Here is a list of the most common on the Nigerian soil:

Coral beads. This is the most common kind of bead used in Nigeria. I am sure you would have come across them at some point. They are the red or pinkish beads you see around. They are sometimes related to royalty or chieftaincy. The coral bead is mostly imported from Singapore and Italy. They are used for a variety of ornamental products and they are most common because they are believed to match any color of outfit.
Pearl beads. These are strictly related with the feminine gender. They are seen as symbol of elegance and class. As much as they are appreciated there are several fake pearl beads in the market today. It takes mastery to be able to pick out originals.
Glass beads. These are more expensive than the regular beads because of the rigors of the manufacturing process. They come in various colors and can be used for different designs depending on the artistry of the entrepreneur.
Seed beads. They are usually tiny and come in different shapes. They are very affordable and can be used to make a variety of designs.
Camel bone beads.
Vinyl beads.

Tips in starting your own bead making business in Nigeria

Having you read this far means that somehow there is some interest in starting your own bead making business. As stated earlier it is one of the easiest businesses to startup within the country and it ranks high among the most profitable businesses as well. Here are a few tips you might adopt when starting your bead making business.

Conduct a detailed feasibility study. You might believe that because the business is referred to as easy to start or small scale it does not need a feasibility study. That is a wrong notion. If this business is going to succeed then you need to conduct a detailed feasibility study. The best way to do this is by finding out a professional who has a success story around you. Visit the individual and ask relevant questions to the business. Find out what the individual has done to fetch the success that everyone can see. It is better to learn from the experience of others than learning from making avoidable errors. Find out the most demanded products, the best suppliers of raw materials, the way to treat customers and the best way to market your products.
Write a business plan. This is one of the nonnegotiable aspects of business. A business plan is essential to the growth and success of your business regardless of the size or scale of operation. Having a business plan for you bead making business may look ambiguous but it will help in the nearest future. The business plan acts as your map or guide as the business grows. It gives you as the entrepreneur a picture of the business and how it will be in the future before you set out at all. The business plan can also help you raise investors should you need to grow bigger than the regular bead making business. At this point I should tell you that if you think outside the box there is a lot that can be done with beads.
Get the necessary skills. Bead making might be a simple business to start but it requires a certain set of skills. These skills can be acquired from skill acquisition centers or online. Nowadays you can learn anything from YouTube. Your choice of learning channels should be dependent on the best way you can learn. Some people argue that you need just creativity in this business, but I must say that it takes more than creativity to string beads together.
Purchase your tools and raw materials. I have stated above the different tools you need to start your bead making business. You can visit any market in your locality to purchase them. You will notice that all of them put together are not so costly and with less than #10,000 you will have your tools and your raw materials for making your beads.
Get a space to work. This is one of the most flexible businesses with respect to location. You can decide to work from home or rent a shop. For a startup however, it is advisable to start from home till the business is established to a reasonable extent. If you want to rent a shop however, ensure that you get one in a very busy part of town. One that has a lot of human traffic so that your business can be in the public eye.
Market your business. This one aspect of starting a business a lot of entrepreneurs take for granted. You might have great skills accompanied by unbelievable creativity, yet without proper marketing the business will never rise. Ensure that you employ different media to put yourself on the business map. Presently the most potent tool of advertisement for a small scale is social media. Take nice pictures of you work and post them on your handles.

Now that you know all of these you can begin your bead making business. Ensure you educate yourself on a daily basis on better ways to make beads and improve your craft. Grow your creativity levels and continually think outside the box. Find out what inspires you and employ it to make beads that will throw off your competition. Good luck.

Get your sample Bead Making Business Plan in Nigeria today. To order the business plan, pay N10, 000 to:

BANK NAME: GUARANTY TRUST BANK (GTB)

ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM

ACCOUNT NUMBER: 0044056891

BANK NAME: FIRST BANK PLC

ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM

ACCOUNT NUMBER: 3066880122

After payment, send your full name, email address and topic (e.g. beadwork business plan, feasibility study on bead making pdf ) to 07033378184. Your business plan will be sent to your email within 15 minutes.