PRINTING PRESS BUSINESS PLAN IN NIGERIA
FEGEOSTOM printing press stands out in a competitive environment in Lagos State due to her quality service and good time management. Printing press business is a very lucrative business in Nigeria, most especially the commercial capital of the nation.
Research shows that Lagos state has a population density of over 17 million people. An estimation of about 55% of people living in Lagos state are working class and about 40% are in school. Lagos State also houses several commercial and religious centers. This suggests that a good number of people living in Lagos has a thing or two to do with printed materials, hence, there’s an assurance of a profitable print business for us.
As earlier mentioned, we, at FEGEOSTOM, make it a priority for our customers to get good value for their money through our quality service and ability to deliver on time.
Goals
To be the most trusted printing press in terms of quality and deliverability in Lagos/Nigeria.
Objectives
- To be consistent with our deliverables.
- To increase awareness across and beyond the State through effective digital marketing.
- To establish a 90% customer loyalty.
- To have a percentage increase in the customer base by at least 40% annually through premium service and word of mouth referral.
Key success factors
- Our location is a big advantage for us.
- We ensure we deliver only the best.
- Effective use of e-commerce.
- Excellent customer service.
Products and services
Products – Booklets, business cards, envelopes, business forms, etc.
Services – Our services include cutting, folding, design, lamination, logo design, embossing, the printing of banners, posters, labels and tags, letterheads, posters, etc.
Marketability
The profitability of printing press business in a densely populated commercial region such as Lagos cannot be overemphasized. Therefore, location is a major benefit to our business. In addition, our quality service and uniqueness have also been rewarding. Nevertheless, we intend to maximize the use of digital marketing in order to showcase our business beyond our locality and the state in which we are presently located.
Cost of operation for Printing Press Business Plan in Nigeria
Presently, we have a manual lithographic, a 201 machine and a cord. However, we hope to expand and set up business in other parts of the country and also get more efficient machines such as the Direct Image (DI) machine for our business.
Asides the cost of the machines we already have, our current cost of operation is between 200,000 to 500,000 naira on a monthly basis, depending on the magnitude of work at hand. This includes the cost of fuel, paper, ink, etc.
The cost of expansion is an estimated sum of 100million naira. We intend to get a larger permanent space close to our current location and also get a Direct Image machine which does a better job than the cord we already have.
We also intend to employ more hands and establish other startups in the neighboring states for now. The estimated cost of acquiring and setting up a new facility is about 30 million naira. a DI machine costs about 17 million while a new cord is about 5 million.
The balance will be used to replicate our business in a neighboring state (Ogun State) but on a medium scale and then extend it to other populated states in the country.
Expected profit
On expansion, we speculate a profit of 48 million naira in the first year after all expenses have been paid and a 45% increase in subsequent years.
Management experience for of Printing Press Business Plan in Nigeria
Fenwa Akindotun is the director at the FEGEOSTOM printing press. He has been in the printing press business since his teenage years and his wealth of experience is second to none. In addition to practical experience is his excellent educational experience in business as a graduate of the Lagos Business School. Fenwa is a visionary leader with the ability to motivate members of staff to give their best and think big. He has positively impacted the business and without doubts, will take the business to greater heights.
Joe Akinbo is the graphic artist who helps to visualize and design materials to be printed. A graduate of Industrial design from the Federal University of Technology, Akure with a specialization in graphic design. Joe has over 7 years’ experience in this field and a lot of online certification to his name. A creative individual by nature, Joe is a definition of creative excellence, who settles for nothing less than the best.
Amaka Kelechi is our financial manager. A graduate of Accounting from the prestigious University of Lagos and a member of the association of Chartered Accountant of Nigeria. She has over ten years of experience in this field. Amaka is responsible for the management of cash flow in order to ensure transparency, accountability and financial growth of the business.
Tolu Lasore, a product of the Lagos Business School, is our business developer. She is responsible for the preparation of the business plan, market analysis for would-be business partners, investors, and affiliate marketers. Before joining our team at FEGEOSTOM, Tolu has strategically helped over 15 small and medium scale businesses in Lagos to develop.
Why you should invest
Printing press business is one of the most profitable business in Nigeria. Printing press business when properly managed has the capability of doubling investment, it indeed has a high yield of profit margin. Another beautiful thing about the printing press business is that it has the potential of being successful regardless of the area. That is, it is a successful business in both the urban and rural areas.
Research shows that Nigeria has a population of about 180 million people, and it is estimated that about 50 million people are in need of printed materials on a daily basis as long as there are events such as birthdays, weddings, church programs, school activities, etc. that warrant the services of a printing press.
As earlier stated, the location of FEGEOSTOM printing press has been a very good advantage and we are sure that the success rate will triple upon expansion. You can be certain of getting a good return on investment with us.
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