How to set up a socks making business in Nigeria.
Teenagers need identity, there is a trend that people are using socks (as an alternative of clothes/shoes) to show their difference and preference of everyday life. So many people have gotten tired of those black classic socks, they need something more bright, more characteristic. Socks are now a large part of our style in Nigeria. Sometimes speciality socks are used by athletics and sportsman. Socks are also a protecting apparel in some industry operation for their workers. Generally, socks come with a wide variety of design, pattern, color and size. Socks of various types and designs can be produced by using cotton yarn, acrylic yarn, polyester yarn, nylon yarn of different counts, quality and shades. There are varieties socks available for ladies like nylon socks, trouser socks, slouch socks, knee-high socks, toe socks etc. Sometime woolen socks are also used to protect the skin from the cold. Socks making is a profitable business in knitted garment industry. Any willing entrepreneur can start this business on a medium or on a large scale basis.
Market potential For Socks Making Business: In recent years with the advent of luxury socks and socks for a specific application, socks have transformed from commodity items to fashion pieces. Owing to the transformation of this traditional item into a luxury product, the growth of the socks market outpaces the overall growth of the apparel industry. Almost 70% of the men use socks every day. Hence, the robust growth of the men’s apparel industry is expected to be the major driver of the socks industry in coming days. Athletic socks are the largest product segment in the socks market. The primary driver for the athletic socks market is its diversified application. Athletic socks are majorly used for sports and gym purposes. However, they are also popular as casual wear with informal footwear.
Raw materials required: Some of the basic required raw materials are cotton yarn, acrylic yarn, nylon yarn, elastic yarn, detergent for washing and packaging consumables. These can be gotten by direct orders using alibaba, or from local textile companies. You must purchase the raw materials (Yarn) only from reputed manufacturers. Additionally, the materials must have excellent fastness properties as the quality of socks largely depends on yarn quality.
Machines and equipments required: Some of the basic required machinery are:
- Automatic power socks knitting machine for the production of 3 color jacquard socks with horizontal stripes plating system colour by color motif and mesh with color modes.
- Automatic power socks knitting machine for the production of terry socks with 2 color motif and horizontal stripes and broad rib elastic top up to 23 steps
- Overlock machine
- Rotor cabinet socks setting machine with built-in boiler and 36 frames
- Garment washing machine
- Dryer tumbler
- Washroom trolleys
- Steam press
Choose a factory location that has a good infrastructural facility in place. Additionally, you will need to have 62 HP of power to run this unit. For interruption-free running of the unit, you can install a generator set as a stand-by arrangement. Additionally, you will need to arrange the water supply just like any textile industry.
Get Automatic Socks Making Machine: Procure fully automatic and computerized socks making machine for quality output. Some of the basic features of automatic socks making machines are:
- One main feeder plus five pattern feeders.
- The possibility of 6 colors in one course and 16 colors on one sock.
- Drumless, fully computerized control system
- Exclusive inner cam block system for high speed.
- Stepping motor for elastic yarn and stitch cam control.
- Electro-pneumatic yarn finger and cam control
- Pattern Depth up to 1,500 courses.
- Multiple stop motion sensors in case of error.
- Automatic recycling oil, counter and reset function.
- To guarantee easy operations, USB faucet adopted for easy to process the data.
- Available in 220/380/440V 3phase 50/60Hz.
- Fully A. C Servo motor adopted.
- Minimized and easy operating function.
- To protect the stored program, battery back-up adopted.
- Additionally, to support continuous knitting and keep the memory of program, Internal UPS adopted.
- To keep track of knitting conditions easily, such as raw materials density, speed, length, measure, graph, etc. Graphic type LCD adopted for easy operation.
- To make the running of stocking toe and heel steadier, the technique of double picker point and double down picker adopted.
- Auto-testing, error sensors, such as broken yarn, broken needle, etc. self-protection system adopted.
Prepare a business plan: Have a business plan prepared upfront to help guide your business operations. And not to mention that you may actually need funding alternatives; seeing as the business is relatively capital intensive.
How the socks are made: The socks are made on socks knitting machine by using cotton Acrylic polyester and nylon yarn of different colors. The elastic rib is made by using rubber thread or lycra yarn. The socks are then pressed and packed for marketing.
You need a graphic designer: This is the guy that will design your website, socks, packages, and ad pics. Find a professional designer online(like fiverr, freelancer), that will save you a lot of money, or hire one around you. I won’t recommend you do design or marketing yourself, you will be busy and worried focusing on Production and Finding new customers, so just pay some bucks to the freelancers and give yourself some time to relax and think about the big picture.
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Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2018 SME Business Trainer and Coaching Advisor at GIZ for SME Loop.
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.