How to set up a printing business in Nigeria, cost implications and requirements
How to set up a Printing Business in Nigeria, Cost Implications and Requirements.
Printing business is a highly lucrative business that requires some level of expertise and great managerial skills for success.
If you wish to tap into this source of revenue streams, you have to be well informed as to the basic costs and requirements for setting up a printing business in Nigeria; while costs could vary depending on variable factors; this post should be able to cover the basic costs and requirements to start up a printing business in Nigeria.
This article is divided into sections, one covering projected costs for setting up the business; the other, for the basic requirements for setting up this business in Nigeria.
Projected costs
Now, depending on whether you want to start up a small scale or large scale printing company there are some basic costs you will incur such as:
- Rent
- Equipment set up
- Overhead bills and
- Salaries
All of these will add up to your start up capital.
Rent
On average, the cost of getting a shop space in most Nigerian cities should be around N10,000. In the South South regions, shop rent goes for between N5,000 to N30,000 per month around most cities.
If you’re starting up a printing shop in the West for instance, you should spend an average of N7000 to N8000 depending on the particular location
Read also : Printing-press-business-plan-nigeria
Equipment set up
- A 201 machine for A4 printing costs between N750,000 – N1000000. This machine can be used for colour separation jobs.
- A cord that will be used for cutting should go for between N2 – N3million. The cord can do jobs on all sizes of paper
- Modern printing machine is known as DI, and it can print from A6 to large banners. DI is an expensive machine and costs nothing less than N15 million. It’s better to stick with the Kord if you’re on a tight budget. However, the DI has so many advantages over the cord.
- A good Kord costs about N5 million
- A brand new flexograhic machine costs between N8 – N10 million. However, you could get fairly used flex machines for N1 million.
How to set up a Printing Business in Nigeria, Cost Implications and Requirements.
Overhead bills
Overhead expenses such as;
- Electric bills
- Printing materials, including papee, ink etc
- Office utilities etc
All these are generally variable depending on the location of your business and should be factored into your financial projections.
Salaries
While planning for this business, you have to factor in the costs of hiring good graphic artists and other machine operators. Again the costs you will incur are variable depending on individual and location.
How to set up a Printing Business in Nigeria, Cost Implications and Requirements.
Business requirements
Catch – in on promotional strategies
Right now as an intending startup; you will have to leverage on great promotional skills and strategies to help kick-start your business.
The main reason for this being that, as it is; no one really knows you too well for what you do and your intending startup. So you have to be ready to actively promote your business even before you officially launch it.
Here are quick and real easy promotional tips:
- Create an official website for your business
- Place paid ads on other sites
- Maximize social media platforms like Facebook, Twitter, Instagram, LinkedIn among others.
- Create an email listing.
- Get your company listed in an online business listing.
Have a good business plan
Every endeavor or business venture that ends up strong and successful usually and most certainly involved a lot of planning. As a matter of fact, the planning stage is the most crucial as far as launching a profitable startup is concerned.
Put up a well written business plan which you will implement during the span of your business.
If you want to have an effective business plan drawn up by business consultants in Nigeria,
You can reach out to 08105636015 or send a direct mail to dayohub@gmail.com
We will help you prepare a winning and detailed business plan along with a comprehensive financial analysis.
Getting materials and equipments
The printing machine is probably the most important equipment required to start up.
Others are;
- Computer system
- Office materials
- Electric power generator set( although some printing machines come with a power generator
- Graphic design software
- Cutting equipment
- Accounting software
How to set up a Printing Business in Nigeria, Cost Implications and Requirements.
Get the perfect location
Location is everything. A printing business should be located in a region with high commercial activities. You need to make sure also, that your shop is easily accessible.
Look for a place that is within your budget and that is easily accessible so that your customers can find you with ease. You don’t want anything to deter you from getting clients. And getting a good location is a big part of that.
Another suggestion is locating your business in a campus area of town. That way you can target students, lecturers, business entities and individuals, researchers around the region.
Read Also: 10-government-policies-every-business-owner-must-be-aware-of-in-Nigeria
Get a good graphic artist
The graphic artists are professionals who are skilled at designing and creating graphical work. Now, not every graphic artist is exceptionally skilled at the job, so you have to look out for a very creative graphic designer before hiring one.
Your graphic designers will be the ones to help you with colour separation during the printing process. Once the designer is done with the job, it is then transfered and stored in a flash drive, which will then be taken to the separating system for further editing.
From this stage, depending on the kind of job, it might require plate making. Plate making just involves transferring what’s in the film into a plate which will later be used to run impressions. From here, your machine operator will run the final job on the printing machine and then have it printed out.
This business can be quite capital intensive, especially if you’re starting slightly above what we might consider as being ‘small scale’ , and yet the earning potential of this business is phenomenal.
Once on it, you’re guaranteed to earn six to seven figure income on single jobs/contracts! And there’ll always be market for this business as the demand grows everyday
So why not make money from filling a market need?
How to set up a Printing Business in Nigeria, Cost Implications and Requirements.
Profitability of How to set up a Printing Business in Nigeria, Cost Implications and Requirements.
Printing business in Nigeria is indeed a money spinner and has a very high returns on investment. A lot of printing jobs run into hundreds of thousands and millions.
Take for instance if the total cost for delivering a particular job is N20,000 and you charged N35k. What this means is that if you’re running 300 units of same job, you get to rake in N15000 × 300 as profits. This is N450,000 for just one ride!
No wonder entrepreneurs like Adeshigbin and Washington Oshilaja are waxing strong and making a lot of millions from their printing companies.
Adeshigbin established the popular Tika Tore Press.
Another big name in the industry; Eloquent Touch Media which is owned by Jude Oguta is a money spinner.
We also have printivo
Printivo is an online print provider that provides its customers with free templates created by designers across Nigeria.
Born out of our love for paper and ink, Printivo aims to help Nigeria business print marketing and business materials with ease. We are young and we believe your business should not end on the internet.
We are setting news standards for prints through quality, quick delivery and remarkable designs.
Hope you enjoy this article?
Share your thoughts in the comment session.
Contact us today for your business consultancy and business advisory services. We can help you fine-tune your idea, structure your business, market your business, train your staff, consult on your retirement plan, coach you for financial success. We also write a business plan and help with fundraising strategies and Grant applications. We can help you start, grow, and expand your business.
We help institutions and organizations write concepts, implement Business plans, and train on business Plan writing in Nigeria.
We can help you write a detailed, bankable and comprehensive business plan for your business idea.
Call any of our business plan consultants on 08105636015, 08076359735 and 08113205312.
Or send a WhatsApp message or email us either at dayohub@gmail.com or info@dayoadetiloye.com.
Related