NYLON PRODUCTION BUSINESS PLAN IN NIGERIA
Fegeostom ventures specialize in the production and cutting of nylon. Our production centre is in Lagos and we have distribution centres all over Nigeria. We produce nylon of various sizes and quality to fit our customer’s needs. We also aspire to be the leading producer of quality Nylon in Nigeria. To make this aspiration come through, we not only use the best production machine but we also hire competent, dedicated hands and ensure they are handsomely paid.
Nylon is a man-made synthetic fibre widely used because of its strength and lightweight. It is one of the few materials we use daily. With the current usage, the nylon production industry has a substantial impact on the National economy. The use of nylon for domestic and industrial purposes include making of rope, branding materials, luggage, sachet, and fabrics. It is also used to pack goods from stores, malls, supermarkets and even the local shops down the road.
To be the leading producer of quality nylon in Nigeria
Our mission is to ensure that we provide our customers with high-grade Nylon and Nylon products at a fair price by using state-of-the-art machines, modern techniques, and customer-centric staff.
Nylon products are generally classified into two: High-Density Nylon and Low-Density Nylon. This classification is based on the strength of the nylon. Both can be used for industrial or domestic purposes. Though, high-density nylon is mostly used by industries while low density is majorly used by households.
High-density Nylon: Nylons used for heavy-duty purposes are strong, versatile and durable. Examples are bags for garbage, industrial chemicals, disposable packages for pharmaceutical materials and products.
Low-density Nylon: These are soft and cheap to produce. Examples are disposable raincoat, food packaging nylons, water sachet, bottle labels, bread packaging, and cloth packaging.
These high-density and low-density products are the standard products from Fegeostom. We also produce customized nylon based on customers’ specifications and preferences. We obtain most of the raw materials we use, namely Polythene, Polyethylene, Master Berg, and Lupine, from the petroleum refineries.
Machinery: We already have the semi-automatic cutting machine but we do not have the punching blades or the printer. We manually punch the handles and sublet our printing to other businesses. We are looking forward to procuring an automatic machine which will make our production process faster, efficient and more cost-effective. We would also purchase a printer so we can customize our nylon in-house.
SWOT Analysis for Nylon Production Business Plan in Nigeria
Strengths: The core of our strength is quality nylon we produce. We can confidently say that there are only a few other products that can compete with our product. Another strength is the competence, dedication and customer-centricity of our staff. Lastly, we are strategically located in the economic hub of Nigeria.
Weaknesses: Our major weak point is the scale of production. We are currently producing less than the market demands because of the limitation of our facility. This is the reason we want to expand our business base so we can produce more and serve our customers satisfactorily. Another major challenge we face is the epileptic power supply. To solve this problem, we are installing a bigger generator that will not only power our current equipment but also power the bigger ones we plan to buy.
Opportunities: There are vast opportunities for this business. Nylon is so famous in Nigeria that you can’t go a day without the use of nylon. From the water sachet to the bags used to pack provision from the store. The demand for nylon product has outgrown the current supply and the demand is ever-increasing
Threats: The major threat we are likely to face is the customers’ preference for cheaper though less durable and alternatives to nylon. For instance, the use of a paper bag instead of a nylon bag.
Market Analysis for Nylon Production Business Plan in Nigeria
There is a ready-made market for nylon products. As stated earlier, this market is vast. It is almost impossible for Nigerians not to use a nylon product or by-product in a day. With this in mind, we make our products reach these markets: households, restaurants, fast foods, stores, supermarkets, pharmacy, health institutions, fashion houses, laundry, bakeries, banks & financial institutions, confectionaries stores, wholesalers, retailers, and nylon-based industries.
Our competitive edge:
Even though we are still small and growing, Fegeostom is a brand to reckon with in the nylon production industry. We aspire to grow bigger up to and beyond the point that our brand will be synonymous with quality nylon products in Nigeria. One of our competitive advantages is our strategic location which is in the economic hub of Nigeria. We can reach and serve a lot of markets from our main hub in Lagos and other hubs all over Nigeria.
We also have a solid business structure with the competent and dedicated staff producing quality nylon products to satisfy our clients. We market our products through:
Direct marketing through introduction letter to our potential clients
Periodic awareness through party, sponsorship, freebies and event partnership
Advert placement both on our product and on media- new paper, TV, radio, banners, internet, and social media
Word of mouth testimony of our satisfied customer.
Financial analysis for Nylon Production Business plan in Nigeria
This business started with two hundred and twenty thousand naira but it is now worth well over 700,000 naira. For the expansion, the cost of acquisition and installation of machines is two million, six hundred and forty-four thousand naira. An addition of two hundred thousand for the overhead cost and miscellaneous expenses.
Projecting from the current market trend, we expect a total of one million, five hundred thousand Naira on sales in the first year. However, in the second year, we would be making around two and a half million Naira and that should double in the third year.
Where you come in
Although, there are many players in the nylon production business in Nigeria, yet nylon business is still a very lucrative business in Nigeria. It is one of the few businesses you can invest in with minimal risk. You can make a lot of profit within a short time in this business. We have raised one and a half million naira from the business’ profit and owner’s savings. We advise that you invest in the business to enjoy the best profit for the value of your money.
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