It has been estimated that you’ll never cease to use exercise books till you die, especially those who are into various institutions like primary, secondary and tertiary institutions. Most people in professional fields like medicine, law, engineering etc have also been known to be among the major consumers of exercise books and that’s the more reason exercise book production business is a lucrative business you should consider doing. In Nigeria, over 50 million individuals are students who rely on this commodity for survival in the four walls of school.
Exercise book, version book, copy book; whatever you might like to call it is a commodity that’s always in demand. There’s a huge market for it already and the only requirement is getting your goods out there. In this article, I’m going to guide you on how you can start an exercise book production business and make money. This business is profitable and prone to make you rich if you play by the rules.
It will be worth to take note that this business is capital-intensive due to the fact that you’ll need some heavy machines for production. If you have the finance, then go ahead and join the few entrepreneurs in the business and make a name for yourself. Let’s go into real business on how to start this business. If there are areas which I didn’t cover, don’t hesitate to use the comment box.
RAW MATERIALS FOR EXERCISE BOOK PRODUCTION BUSINESS
You don’t need to start extracting cotton before you can start your exercise book production business. In fact, below are the basic materials you need to produce your books and they can be easily sourced locally.
Raw materials includes;
- Sixty-gram papers pre-cuts IN sheets of about 900 x 620mm
- Printed Cardboard for covers
MACHINERY FOR EXERCISE BOOK PRODUCTION BUSINESS
The machines needed to start production can be imported from abroad or gotten from these local fabricators. They are no doubt costly, depending on how sophisticated they are. Below are major machines you need to get started with this business.
- Automated feed
- Cover insertion type
- Double side disc ruling machine
- Automated wire stitches
- Notebook folding machine
- Cutting machine
- And a big generator set
HOW TO START AN EXERCISE BOOK PRODUCTION BUSINESS
1. MARKET RESEARCH
This should be the first step cause it will expose a lot about the business, like the competitors, market demand, prices, local polices etc.. From market research, you’ll be able to draw out a good detailed business plan that will help analyze factors that might negatively or positively affect the business. Through a market research, you also get to know your target market and the range of demand so as to meet them.
Exercise book production business is a technical venture that will require knowing how to operate the machines and how to produce a good an attractive exercise book. I usually advice prospective individuals to take up internship in a book production business. Doing this will equip you with the skills and training. Not forgetting that it will also expose some core practices and secrets in the business that will no doubt help you run your business effortlessly.
3. BUSINESS LOCATION
When you’ve gotten all the necessary raw materials, equipment and training, the next phase will be getting a good location for your business. It will be good if this business is situated far away from residential areas because of the noise pollution that’s inevitable in the cause of production. Your business location will not affect the business as long as effective marketing and distribution is put to place after production.
4. HIRE EMPLOYEES
Exercise book production business is not a venture that can be run by one person. You’ll need to employ people who will help in both the production and distribution aspect. The more people you have employed, the more production will be boosted, leading to more sales and profit.
There are four (4) major stages in exercise book production.
- Ruling of lines on the sheet
Folding to desired size
Cover printing attachment or stitching
Cutting and brushing
POTENTIAL PROFITS IN EXERCISE BOOK PRODUCTION BUSINESS
Over 50 million Nigerians are in various institutions of learning. Those in offices, banks, hospitals etc aren’t exempted either and one person uses more than 10 exercise book every six months.
Imagine if you’re producing 60 leaves exercise book which is currently at the price of N100. Let’s do a little maths here shall we? N100 x 50 million naira = 50 billion naira. I think I’m about to scream. Imagine if you can tap into 1% of that.. You’ll no doubt become rich before you can even say Jack Robinson. Exercise book production business is a goldmine and if you can delve into this business, you’ll make more than you can ever anticipate.
COST OF STARTING AN EXERCISE BOOK PRODUCTION BUSINESS
The cost of starting this business is dependent on how small or big you want to start. For a small-scale book production business, you will need about N500,000 to N2,000,000. Go on a market research, write a business plan to know the overall cost of stating this business. Why this business is capital-intensive is because the machines needed for production aren’t cheap.. Find out their prices to be sure of the amount needed to start this business cause the figures on this page are merely estimates.
Exercise book production business is highly lucrative. If you have the finance, I urge you to draw a good business plan and make it happen. You will never know the millions waiting for you until you venture in. Demand is always on the rise and you need to join the market to satisfying that demand. It will get to a stage where you earn more by selling advert space on your notebook cover. The opportunities that lies in this business can’t be summarized in a page such as this. Imagine if you get a contract whereby you have to make a customized exercise book for a party, wedding etc.. Exercise book production or manufacturing business is among these unexplored business opportunities in Nigeria.
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