How To Start A Nylon Production Business
Nylon production business is a very profitable business that anyone can start-up in Nigeria and make money. Contrary to what most people think, it is easy to start and has the capacity to sustain for a long time as nylon is always on demand due its numerous uses.
As a matter of fact, you can become a millionaire by producing and selling nylon bags. Everyday around the world, millions of tons of nylons are produced, yet the demand for nylon bags has hardly been met.
A popular example of one of the businesses that makes nylon production a profitable business in Nigeria is sachet water production which has become a very big industry, now imagine how much sachet water nylon suppliers make by producing these nylon sachets.
Live every other business, this article details the steps you will need to take in order to be successful in nylon production business.
How To Start A Nylon Production Business
Get The Required Knowledge
Like every other startup business, you need to get adequate knowledge about the steps and processes involved in nylon production. It is essential that you understudy and learn the business before venturing into it. There are several ways with which you could begin to gather experience, some which are through seminars, trade workshops, books, etc.
Your business plan is very integral and vital to the success of your business, so it is important that you have a comprehensive and detailed business plan. The plan will cover, start-up costs, overhead costs, miscellaneous, source of funds, profit projection, equipment and location.
It is also advisable that you carry out a feasibility studies, this will help you in understanding more about your target market as well as your competitors.
Register Your Business
A registered business or business name is always given a preferential treatment any day, any time. This shows potential investors that you are serious about what you are doing, it also help stay out of problems with the government. You can visit the Corporate Affairs Commission website online or any of their branches nationwide.
Remember that location is a very important aspect of your business and has a determining factor as to fast your business will succeed. Ensure that your nylon production business is situated close to your market i.e easy accessibility of raw materials (to minimize the cost of production) and proximity to market.
The chosen location should have a good road network for easy accessibility, constant power supply, and spacious.
The raw materials required for the production of nylon production are derived from the bye products of petrochemicals obtained from refineries. The main raw materials are polythene and polyethylene. While the basic materials are Dow, Escorene, B.A.S.F and Master Berg.
In Economics, equipment required on the smooth operation of a business is referred to as capital asset. The equipment work as a unit in order to achieve one goal: nylon production. You can acquire a semi-automatic nylon-cutting machine with punching blades if you intend to start small, this can be fabricated locally.
- Extruder blowing machine: this machine converts the raw materials into liquid/sludge, then to polythene sheets in order to be molded into the desired thickness and color. The sheets are often produced into different thickness depending on the manufacturers preferred market.
- Cutting machine: it is used in cutting the nylon sheets into smaller units.
- Punching machine: it is used to reshape the nylon for different purposes by punching holes of various sizes, some of which are the handles held by users.
- Printing machine: it is used for branding nylon into any design, by inscribing a logo or text.
When recruiting staffs for your nylon production business/company, it is important that you sort for the best hands in the industry. If you have good resources, you could also sponsor some of your workers for short courses.
Nylon bag marketing is quite easy, since it is a product that is always on demand. Your targets could be:
- Market women/men
- Phamaceutical companies
- Fashion outlets
- Bakeries etc.
The amount of funding you will need for your nylon production business will depend on how big you want to start i.e size and scope. Although the business is capital intensive, given the cost of most of the equipment.
You can raise funds through grants, loan from bank of industry, personal savings and from friends and family. with a solid business plan, you can also woo in investors.
Nylon production business is a very profitable business that anyone can start-up in Nigeria and make money. With all the right variables I place, the sky can only be your limit.