In this post, we will be imparting data to you around quite possibly the most worthwhile organizations in Nigeria today. Is it accurate to say that you are astounded that we are alluding to nylon creation as an extremely rewarding business? You shouldn’t be on the grounds that most items in Nigeria are bundled utilizing nylon
The main thing you should think about nylon is that it is man-made. It’s anything but an engineered fiber portrayed by lightweight yet entirely sturdy and solid. The properties nylon have makes it alluring for such countless uses, particularly for bundling various items. In the event that you are prepared, how about we get serious
What you must know about Nylon
Many people ask this question because they don’t seem to see a reason why this business is booming. Understanding a little about the production process should give you a clue. We cannot discuss all of that in this post but here’s a sneak peek.
To produce nylon, molten nylon is pushed through a small opening in a device known as a spinneret. It is the spinneret that converts the molten nylon into filamentous materials, hence its many properties. Because of these properties, nylon is very easy to use and is elastic (to an extent) in nature.
One of the stand out properties of nylon is that you don’t need any special laundry processes to cleanup your nylon. Nylon can be washed with any soap and water. These properties and many others have made nylon desirable all over the world.
Investing in nylon production is bound to yield a lot of profits as long as your management processes are efficient. Nylon is no doubt one of the key contributors to the Nigerian economy which is why it is a special item to invest in.
How Lucrative is Nylon Business in Nigeria?
Let’s discuss a secret that most people in this business will not tell you. Becoming a millionaire through this business is very possible and it wouldn’t take forever. Why is this so? It is simple, there is a constant demand for nylon all over Nigeria and beyond.
Did you know that more than N50 billion is spent on the purchase of nylon in Nigeria each year? The most attractive aspect of this business is that with N20,000 you can start production. There is also no specific season for nylon production, every season is perfect.
Opportunities in the nylon production industry in Nigeria
Believe it or not, this industry is one of the largest in Nigeria. It might be a bit surprising that a product as trivial as nylon can attract so much revenue. Think about it, everything we purchase from the markets, malls, provision shops, roadside sellers, is packaged in nylon.
Even our beloved pure water is packaged using nylon. This is how important this sector is to the Nigerian economy. While the opportunity to make it big in this business is attractive, you need to beware of the competition.
There are so many entrepreneurs into nylon production in Nigeria. However, it seems that with the rise in nylon production companies, there is a rise in demand for the product. This is good news for individuals who plan to begin production like you. The market is huge, you just need to find your target market and the best way to sell to them.
How to start nylon production business in Nigeria
You must be filled with enthusiasm right now which is great. However, you must learn the ropes before diving into this business. This way, you are assured of success. In this section, we will share a few tips to help you start your nylon production business in Nigeria.
Get your raw materials
This business is dependent on raw materials. What this means is that you cannot produce without acquiring the necessary raw materials. Finding raw materials for this business is not as difficult as many people think.
You can visit any of the petroleum refineries closest to you to get some. The raw materials needed for the production of nylon are the by-products of the processing of petroleum. Some of the raw materials you need include polyethylene, polythene, lupine, and ecorene, etc.
Acquire the required machines For the purpose of this post, we will be focusing on starting this business on a small-scale. To this end, here is a list of machines that will facilitate your production process.
- Punching blades
- Semi-automatic nylon cutting machine
There is also a printing machine which helps to print designs onto your nylons. However, this machine is optional as you can outsource this part of the production process or ignore it altogether. Printing on nylon bags is very cheap, depending on the design you can print for between N25 and N50.
We advise that if you have the means to acquire the fully automatic machine, you should get one. This makes the process faster and more efficient. In addition to this, it gives you a competitive advantage over a number of competitors.
As you can guess, all of the above is impossible without some form of capital. Capital is very important to any business and this one is not an exception. The amount of funds you need to start is dependent on the scale at which you plan to operate. For a small scale nylon production business, you need between N50,000 and N70,000.
Many people ask the question, “How can I raise capital?” Let’s share a few ways with you:
- Personal savings
- Bank loans
- Loved ones
Acquire an office/production space
Your office or production space is where the nylon will be produced. While you don’t need an extremely large space like a football field, you need adequate space. Don’t forget that the machines you are bringing in are quite large. Without adequate space, your production space will be cramped up.
A cramped up space will result in poor production which is the beginning of business failure. You should specify to your agent the kind of space you need. Ensure that you inspect the space properly before making payment.
The production space must be close to the source of raw materials and the market too. This way, you don’t need to spend excessively to transport raw materials and finished products.
Feasibility study on Nylon Production/Business plan
For many professionals, this is the first thing you should do before you set out. Many businesses fail today because of ignorance and the lack of a proper plan. Mind you, a feasibility study and a business plan are two different documents.
You must carry out a detailed feasibility study to help you understand the industry intricately. You need to know about the production processes, where to get raw materials, your target market, and what they need. You should also find out where to sell your products and what the best marketing practices are.
The results of your feasibility study will help you to develop a workable business plan. More than 60% of Nigerian businesses fail because there is no plan. Don’t be caught in the same web. Your business plan is a map that helps your business function optimally.
By now, you should already know what the production process entails and the different stages of production. You should also have acquired your raw materials and the required machines for the production process. Start production following the prescribed processes and be sure to invest in producing quality. This will give your business a good reputation on the market.
Sell your products
You should already have figured out who you plan to sell to and your prices. It is time to push out your products. There are several ways of marketing products these days asides conventional methods. You can consider using the internet as a medium, especially if you want to reach customers beyond your location.
Soon, you may not be able to handle all the processes by yourself. Your business is growing fast and you will need some help. Instead of weighing yourself down and producing below demand, employ staff. Be careful when recruiting staff so that you don’t recruit poor workers or those who don’t pay attention to detail.
Challenges of nylon production in Nigeria
Just like every other business, the nylon production business has its peculiar challenges. Some of them are stated below:
- Epileptic power supply. The machines used to produce nylon bags are run by power. Without power from PHCN, you have to spend on purchasing fuel for a generating plant. This extra cost weighs down on the business and could lead to loss or complete closure.
- Procurement of machines. Finding locally fabricated nylon making machines in Nigeria isn’t an issue since they are constructed locally. However, when it is time to expand, finding larger machines may prove difficult. Besides, they are really costly and you may not have enough funds to purchase.