Starting a paint manufacturing business in Nigeria is quite easy, all you require is start up fund and a good technical knowledge (you must study the process extensively to have basic knowledge of paint production).
The rate of unemployment and poverty in Nigeria is alarming and can be curbed by boosting local production of most of the goods we consume.
Although entrepreneurship in Nigeria is very challenging, one can still be a successful entrepreneur by persisting amidst these challenges.
Paint is an essential commodity for painting houses, offices, etc and the demand is on the increase.
There is hardly any house that needs no paint these days, so the market is there for you.
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What you need is to penetrate and capture the market by producing good quality paint and marketing it very well.
You can start your home-based paint production with as little as N100,000. The raw materials are readily available in the Nigerian market.
You also don’t need any expensive equipment to produce paint. Only need some buckets and your two hands to do the mixing.
Advantages of Starting a Painting Business
Not Capital Intensive
Quite unlike other business ventures, starting a painting business does not require a much capital.
Apart from the money you will spend on getting the necessary licences to run your business, buying equipment and printing your color catalogue, you won’t need to spend much money starting your painting business.
Maximize Your Creative Potentials as a Painter
If you are passionate about painting, starting a painting business will give you the opportunity to maximize your creative potentials; and you will earn money doing what you love which is the best way to make money; since it’s a hubby, it won’t feel like a work to you.
You Can Run it as a Part Time Business
Unless you have the capital to start the business in an industrial standard, a small painting business can serve as a part time job while you maintain other jobs.
It is all an opportunity to make a new mean of income.
Make Money with Related Services
You can incorporate other services related to painting such as wall paper placement and make money with them since they both go side by side.
For instance, when some clients contract you for a painting job in the living room, you can suggest that wallpapers will look great in the kitchen and bedrooms.
If the person buys the idea, you have an extended contract and more money.
In the next sub heads, I’ll be discussing the steps involved in starting up a painting business in Nigeria and some of the necessary factors that might prove useful during the course of the business and to also ensure that you’re getting customers, making your profit and also being successful at the business you’re starting.
RESEARCH
Ensure you make your research on any business regardless of what you hear about it
The research will not cost anything except your time and when the business starts and the successes starts coming in.
The research will give you an idea of what to expect and the challenges ahead.
It teaches future entrepreneur how the business works and what success means. And It shows the risks involved and the ways to tackle them.
also It gives ideas on how to sustain the business and work towards more success. Imagine missing out on any of the mentioned points, it’s more like being less equipped about something especially something you plan to spend money on.
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There are experts in the business, of course, so also look to advise from these individuals as they are most likely the best bet for reliable information on the business.
Take note of even the smallest things during the research period and pay close attention to how to stay and survive in the business. The research is as important as anything in the business.
WRITE A BUSINESS PLAN
A business plan needs no introduction. It is equally as important as some of the other processes or things involved in the business.
After a comprehensive and thorough research, entrepreneurs must now put all their ideas into paper after, of course, deciding to start the business.
The business plan will cover things like the way you plan to operate, the cost of several things, how you plan to market your business, future projections and also contingency plans.
The business plan serves a number of purposes.
In cases where individuals might need to get investors or even get a loan, it will prove useful as it will contain all that needs to be known concerning the business.
It is also going to serve as a point of reference for the proposed business.
GET TRAINED
As I’ve mentioned severally, training is important for the business and as people want different kind of designs and painting styles, it has become necessary to get trained.
You can enroll at a training school or meet up with experts who have been in the field for a long time and learn from them.
There’s also the option of learning online though it might be a lot different from the physical training.
CREATE A BUDGET AND GET EQUIPMENTS
This is the point where you’ll need to estimate the capital needed to start the business. Create a budget for all the things needed for the business including registration.
This will help you estimate and get a figure for the amount needed to be able to start the business.
The capital is not expensive and you’ll only need to get some tools like brushes, spray guns and so on. The cost of registering the business will also be part of the estimated capital.
MARKETING
Social media is a really effective place to advertise your business. You can just simply create accounts and then create adverts and send them out through those pages.
Word of mouth and referrals are also very effective and they really work well and play a huge role in getting you customers.
Do a good job from your clients and they can connect you with other people who need a painter. Also, you can meet up with good interior decorations specialist and work with them.
You can learn digital marketing at bizmarrow too
They always require the services of a painter so it will be another way to get customers for you.
CONCLUSION
This is what you need to know about the basics of paint production.
As you can see, this is a very profitable business. Of course, you will need diving deeper into the subject to become an experienced producer of high-class paints, but even now you already have an idea of what it’s like and what you can make from it.
