Paint Production Business Plan in Nigeria
Our sample paint production business plan in Nigeria can be used to access bank loans, proposal writing and grant applications. This business plan was complied after a proper feasibility study on paint production in Nigeria was carried out. Furthermore,this article will help you, weather you want to learn how profitable is paint production in Nigeria or how to start a paint production company in Nigeria. You will get a step by step guide on setting out in the paint industry in Nigeria.
To get your own Paint Production Business Plan in Nigeria, pay N50,000 to:
BANK NAME: FIRST BANK PLC
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 3066880122
After payment, text your full name, email address and title (paint production business plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
It is no news that the unemployment rate in the country is extremely high, yearly more and more graduates are produced by the over a hundred and twenty universities among other higher institutions of learning. Despite the number of professionals produced yearly there is still a large number of them who can barely afford three square meals because of the lack of jobs that will be their means of survival. It is quite clear that the number of jobs available cannot meet the high demand for jobs by these graduates. Consequently there has been a rise in the crime rate of the nation as so many have resorted to dubious means to satisfy their daily needs since legitimate jobs are no longer available. This write up is however not to justify the indulgence of youth in these terrible acts to open your eyes to see a way to generate income for yourself, just in case you are in the same category or you have someone who falls into that class.
Since white collar jobs are no longer available, it is evident that youth should turn to producing things with their hands or generating ideas of services they can provide. One of such ways is paint production, are you surprised? You should not be, if you are still wondering how to go about this, you are reading the right article, this article promises to provide you with necessary information about how to run the paint production business successfully.
One major question to tackle as regards this topic is, why go into paint production in the first place? The idea may seem a bit off the regular business ideas suggested to youth but I tell you, there is a lot of sense in it. Firstly, you should consider Nigeria’s population growth rate over the last twenty seven to thirty years, you will realize that the population has increased by almost a hundred million since the 1991 census. This makes it evident that the population of the nation is growing at an alarming geometrical rate, it may seem like a problem right now. One thing every entrepreneur knows is that from every problem there is at least an opportunity to make income, this is the same story with paint production. The increase in population means an increase in the demand of housing structures amongst other buildings, this just boils down to the fact that more paint will be required to make these buildings more beautiful and attractive. Take a look at our cities, you will easily see that on a daily basis more and more structures are being constructed as residential quarters, office spaces, event halls, religious buildings, etc. Evidently, a new need can be recognized, the need for more paint to be produced and supplied.
I am guessing right now that you are thinking about how to start the business of paint production and you feel the initial capital outlay must be quite large. You should know that regardless of how much you put into the business, as long as you have a great business plan and marketing plan you will be making your investment back several times over in less than no time. I invite you to read on as I will be sharing few insights on how to start up and run this business effectively to achieve success and grow your investment capital.
Steps to take in starting your paint production business
Study the business. It is important to take time to study any business intently before you put in your investment capital. You do not want to step into uncharted waters without seeking necessary knowledge. You can surf the internet or visit other producers for firsthand experience information, this way you can guard yourself against unforeseen circumstances. The information you gain from this will also help in writing your business plan, which is very essential to your business growth.
Writing an effective business plan. Several business owners or intending entrepreneurs take this aspect of a business for granted and treat it with so much levity, but you should know that this is the bedrock of any successful business. A business has so many functions that its importance to a business cannot be overemphasized. Firstly, you cannot go to a place without proper directions, you need a map to locate a destination, especially one you have never visited. A business plan acts as your map that leads the business to the place of success. Secondly, the business plan helps to grow interest from investors as it shows financial projections of how much required to start up the business and how much will be made within a stipulated period. This is to mention but a few, if you will grow fast and achieve success in this business then you should ensure you invest in a business plan. You can write the business plan by yourself or you can seek the help of a professional to assist your cause.
Acquiring a production site. You will need a factory site for the production of your paint, after all you cannot produce the paint just anywhere. You will need to get a place that is very accessible so that you can easily get raw materials down to your factory site. Asides this, you will also need to get a place that is very close to the market, proximity to the market is key to getting customers patronage. If you can satisfy these conditions, you would have successfully eliminated or reduced to the barest minimum the amount spent on transportation over long distances. You should know that you can decide to produce in different levels, small medium and large scales. The level at which you decide to produce will determine how large your production site will be, just make sure that you have enough room for expansion should the need arise in future. You can decide to either rent a space or buy a land to raise your factory depending on the amount of capital at your disposal.
Registration of your business. Before starting this kind of business in Nigeria, it is advisable to register with the appropriate authorities to avoid embarrassment in the future. Asides embarrassment, carrying out registration with these bodies help you gain the trust of customers and investors alike. The first body to register with is the Corporate Affairs Commission (CAC) which is the country’s register of companies. You will also need to register with the Standards Organization of Nigeria (SON) and the Manufacturers Association of Nigeria (MAN), among other bodies. You should also know that it is expedient that you take time out to insure your business against unforeseen risks.
Procuring equipment and necessary raw materials. Before you acquire anything you should take note that there are several kinds of paint in use in Nigeria today and to produce each of them you might some different kind of material. The good news about paint production in Nigeria is that all the raw materials needed can be sourced within the country. The process required in making the paint is quite easy, especially when you are involved in small scale production, here are a few materials used in paint production.
Firstly the basic components needed for paint production include:
- The solvent: the solvent could be either water based or oil based. Some people have also inculcated the use of alcohol even though the use of water is inviolable to the paint making process. The kind of solvent used will largely depend on the kind of pigment or acrylic to be used in the production process. The kind of solvent used will in turn determine whether the paint will be an oil paint or water paint. A major characteristic of a good solvent is the ability to evaporate when the paint is applied to any surface. Another is that it possesses the ability to allow the mixture of the pigment and acrylic base to keep their color.
- Pigment: this is the solid or dry powdered base of the paint and it is sold in different colors. It is the main ingredient used in paint production as it determines the color of the end product. The pigment can be ground into powder if it is not already in that state by the use of a grinding machine or can be done manually.
- Acrylic. This is a major determinant to the end texture of the paint. It is simply a white colored substance which is usually packed in a tube. This is mixed with the pigments in different proportions depending on the desired end product. The acrylic will determine the final finishing texture of the produced paint.
You should ensure that you get good quality materials when making your purchases, this means that you should make serious research to decipher a reputable supplier for each item on your list. There are several compounds, which you could also call chemicals, which are used in the production of paint, a few of them are stated and explained in the next few lines:
- This is majorly used for mixing and it can be found almost everywhere in large quantities.
- This is a chemical used in giving paint its shiny color. It also ensures that paint retains its color and does not look faded. It is a whitening chemical in powdery form and it functions best for white paints. It is applied in specific proportions depending on the discretion of the producer. It is actually a major secret of some of the biggest producer in the paint industry.
- This is a special chemical added to the paint to prevent it from drying too quickly. This in turn ensures that the paint does not break or crack due to a rapid drying process. It is used to ensure that the paint is durable and it is best used in paint used for canvasses.
- Calcium carbonate. This compound is also in powdery form and it could either be dolomite or calcite. This forms a major part of the paint production process and either dolomite or calcite is used depending on the color of paint that is being produced.
- Marble dust
- Bama cork
The different scales of paint production explained
As stated earlier and as is common with almost any business, there are different scales or levels of production. The level at which an entrepreneur is involved is usually dependent on the amount of money which is available to him or her or the amount of zest the entrepreneur has for the business. Below are the different levels of involvement and what they mean to the paint production business:
- Small scale – For this level of production the entrepreneur does not require a factory, a small space around the compound will do. Electricity is also not required, all the entrepreneur needs is get the paint ingredients and mix in the right proportion. To start up this level of production you will just need between 200 and 300 thousand naira, depending on your location.
- Middle scale – This level of production will require you to have a small factory space, a mixing tank, paint filter machine and a sand filter. This will ensure that a large amount of paint is produced. You will also need a delivery truck as well as a few employees. You will need about 2 to 10 million naira for this level of production.
- Large scale – For this stage the business owner should acquire a paint production plant as very large volumes of paint will be produced daily. This will require an initial outlay of about 15 million naira.
Marketing your product
Regardless the scale of production at which you operate it is imperative that you market your product vigorously to ensure that you get returns on your investment. There are several ways to market your product, you can make use of social media channels, handbills and billboards. You should also ensure that you develop the trust of your customers so they can provide referrals which are an equally effective marketing tool.
I hope this article has been helpful in educating you on the paint business in Nigeria, you do not need to wait on the government for jobs anymore, you can start up no matter how much you have.
Get your Paint Production Business Plan in Nigeria today.
To order the business plan, pay N50, 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 (i.e. paint production business plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
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