Paint production is a profitable business and that is why those who started this business some years back are now multi millionaires. If you are considering venturing into this business you are on the right track and this post is for you.
With the rate building are erecting in the country, paint production business is now more profitable that it has ever been. Old buildings are remodeling their structure to suit the new building and the new ones are making their building more attractive than the usual, different designs are been created by the day and this create more demand for paint that what it used to be.
This plan can be submitted for the acquisition of bank loans, propositions and grant applications. This is an output of a rigorous research on paint production business in the Nigerian market.
It is indeed a lucrative venture which has resulted in a multi million empire for most who started the business years back and were prudent in their undertakings.
Houses, hospitals, churches, mosques, banking halls and all other buildings are some of the essential buildings that can not be done without and instead of a decrease, there is always a surge in building as the years go by. This fact makes paint production business a ‘hot cake‘ as the aesthetics of a house is almost as important as the structure and the painting of a house is a fundamental issue when it comes to the beauty of a house.
Old structures are being renewed to suit modern styles and modern styles are not left without a touch of uniqueness and this makes demand for modern, unique and good texture paints higher than ever before.
Let us not make too much noise and go straight to the essentials of a paint business.
This business is one which requires good capital. After a well organized and drafted business plan, capital is the oil of the business. A business plan in this regard involves the marketing plan, strategy, financial projection and so on which gives a guide on how the business is going to be run successfully and with blooming profit.
To start a paint production business there are some important thing that you must do because this business is not a joke. it is very serious. Paint production business is a capital intensive business. One of the first thing you need to have is a good and well written Paint production business plan. Business plan is like a roadmap for your business, it entails the marketing plan, strategy, financial projection etc that will give you the insight on how to run this business successfully and make more profit.
In every business you want to start you need a the complete knowledge on how the business is run so before you invest into the business ask questions, visit paint producers for firsthand experience information but if that would be difficult, surf the internet like, get a good paint production business plan and study it for yourself to know all that is required of you and how you can a make the business grow.
One good thing about a business plan is that it may not just be for you alone, you can show it to your investors because no one will want to invest his money without knowing about the business he’s investing in. So if you are just starting the business or you have already started a business plan will still help you and give you direction on how to grow the business.
Having requisite knowledge of the business is crucial, as in every other business. You need to ask questions, visit producers who have versatile knowledge and age long experience in the venture and if that will be a burdensome task, you may afford yourself the ease which comes with the internet. Surf sites and platforms which give proper insight on this business and you may gain mastery without having to go through the rigours of meeting people. Study and discover how you can make your business grow. A business plan is not a thing you have to read or go through alone– you would have to show it to your proposed investors as they wouldn’t want to invest in a business they know nothing about, so be sure to present a brilliant and feasible business plan not one which lacks direction.
You may then incorporate or register your business as this is an essential step towards making your business recognizable legally. You must register it in Nigeria with the Corporate Affairs Commission (C.A.C).
In this business, you will need to register with the Manufacturers Association of Nigeria(MAN), and with the Standard Organization of Nigeria(SON). These bodies are crucial to the smooth running of your business to avoid embarrassment, or harassment of any form which may even lead to a close down of your business.
Location. This is another important matter. You must go to areas where your services will be mostly required. Paint production business is not a business you can do in just any place. A place where you can be easily located, where there is a spree of building erections, companies and Government residential areas are good areas. You may rent a place if you can not afford one but be sure to stay in a place that is accessible. You may begin on a low scale, medium or large and all these do not matter as long as you are determined and prudent, you will succeed.
You need a knowledge of the materials needed for this production business and how to source for them. The kind of paint production you choose, determines the materials you will be needing.
Below are some pf the basic things you need to produce paint.
The binder to hold the pigment particles together and provide adhesion to the surface painted.
This is the color of the paint and it is usually in dry powdered form and it forms the base of the paint. It comes in different colors and can also be gotten in solid form which you may have to grind with a machine (grinding).
The solvent can be water based, alcohol or oil based. The quantity used determines the quantity or kind of acrylic or pigment needed in the production process. Also this will tell whether the paint will be water or oil paint.
This helps to form the texture of the pain. It is mixed with the pigment in different quantities. There are other materials needed but these are the essential ones. Make sure to study well and use only the best quality materials.
This write up was compiled after a series of market research in this field and it has been written in simple language and made easy to understand. You may use our sample business plan and feasibility studies for the assessment of loan facilities, grant applications and investment proposals.
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