Toilet roll is among the fastest moving commodities in Nigeria. This is because almost every household makes use of this product. However, its use is not only restricted to toilet use (as toilet roll is only a generic name), but has several uses outside that. The share market size of Nigeria makes it a highly attractive sector for investments. If you are interested in starting this business but have little knowledge on how to go about it, you are at the right place as this article will reveal to you ways you can take advantage of the huge opportunities presented by toilet roll production.
The Tissue Paper Industry in Nigeria
Nigeria currently has several tissue paper manufacturing companies operating across the country. However, there is still a lot of room for newcomers. This tissue paper production companies or have a variety of products. Some of these consists of the traditional tissue paper as well as the production of serviette. These are all called by different brand names. To participate in this huge market, you need all the financing you can get. This financing will help in the purchase of the necessary machinery to ensure smooth production as well as meeting up with production demands.
It is obvious that by participating in this market, you you will encounter competition from established companies. However your business marketing strategy is of utmost importance here. As with most industries, there will always be competition. Therefore how you take on your competition is what matters most. To be successful in this respect, this requires adequate planning.
Financing your Business
As mentioned earlier, this is one of the most crucial steps you must overcome. Without the required financial muscle, you will only struggle and will rarely have a meaningful impact. You must have prepared beforehand on how to adequately finance your tissue paper industry. You may choose the option of using your personal savings or money kept aside for the project, or opt for debt financing. Here, you will need to apply for a bank loan.
In most cases, obtaining a bank loan will require a collateral. Whatever option you choose, the bottom line remains that your business should not be under funded.
A large chunk of funding raised for your business will go into the purchase of equipments. Purchasing the right equipment is very important to the success of your business. This is because with the right equipment or machinery, there is a huge leap in productivity which is good for business.
The purchase of equipment will depend on the scale of production you want to embark on. For a small scale tissue paper industry, not much equipment will be required. It is also very important that you consider the funding available to you and structure your business to adjust to available resources.
A large scale tissue paper company will require significant investment in equipment. Therefore if you are interested in starting a large scale tissue paper company, then you should have prepared financially. The financial implication will be in the millions.
Work on your Marketing Strategies
The importance of this to you success of your business cannot be overstated. A marketing strategy is usually the soul of your business. This sets clear cut targets and goals the business is expected to achieve within a set time frame. Also, it deals with how to attract patronage for the business. Your business exists to make profits. Hence this is where a detailed plan of how to distribute your products comes to play. You will require the services of experienced marketing experts who have a thorough understanding of the marketplace and what drives sales. Their contributions will prove invaluable to the growth of your tissue paper factory.
Choosing a Location
Another factor that contributes to the success of your tissue paper factory is the location. Your choice of location can make or mar the business. It is important that when selecting a location, you should be close to your target market. A tissue paper factory produces fast moving consumer goods. Therefore it is only logical that it should be located in areas where population is high.
Because your business is new, you need to embark on an aggressive marketing drive through advertisements. This may include paid adverts in print and electronic media, as well as the adoption of social media technology. This raises awareness amongst consumers of your products and services. Doing this right can bring you the patronage most vital to the success of the business.