Potato chips production business is one of the very many businesses in Nigeria that require very little start-up capital. The interesting thing about the business is that it has huge growth and profit potentials and needs no formal education or qualification.
So if you need a business that fits into the above specifications, you can start a potato chips production business. There is always a high demand for potato chips as a result of the fact that it eliminates hunger swiftly even when taken in little quantity.
Furthermore, potato chips are made from a very natural product; potatoes and oil. This makes it preferred to other snacks that are made using artificial ingredients with a certain level of risk by health conscious individuals.
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Potato chips production business is global and it is worth over $16 billion a year. This shows that you can make it a multi-million business here in Nigeria even if you start small. Big brands like Frito-Lay and Zapps are also into potato chips production and they are making it big.
If you are looking to start a business that has huge growth and profit potential and that requires minimal startup capital and no formal qualifications, then you will find more than enough opportunities in the foods and snacks industry. One of such opportunities is potato chips production.
Now if you are willing to start this business, don’t border about the big dogs because you can become a big dog tomorrow. The most important thing is to have the entrepreneurial drive and will to compete and you will be surprised at how far you can go.
Below, we will be guiding you on how to start a potato chips production business in Nigeria. We will help you make up your mind on whether to start the business or not. Just read on.
Tips On Starting a Potato Chips Production Business In Nigeria
Conduct research about the business
The first step in starting a business is usually to find out all you can about the business. Potato chips production business is no different. It requires that you undergo a thorough research on it. The research helps you understand the nature of the business and help you make up your mind on whether you will start the business or not.
You can look up the business requirements on the internet; you can visit a potato chips production company and see for yourself how things are run there. Visit all the departments in the company and see how it operates.
Avoid direct competitors when you want to start a potato chips production business. In that regards, visit the one that is outside your locality.
Put up a business plan
Potato chips production business requires prudent planning when you want to start it. To do this, you need to write a comprehensive business plan. The business plan serves as a guide to your to your business. It guides you on the launching of the business, the running of the business and exit strategy.
The business plan is usually a detailed overview of the business, your mission and objectives, your target market, your competitors and marketing strategies, your unique selling proposition, your required startup capital and operation costs, your projected income for the first three years, your management summary, and your exit strategy.
Register your business and obtain necessary permits
You need to register the business and find the necessary licenses and permits. You have to contact the agency and appropriate authorities to register your business.
Remember, you must get these licenses and registration before you can start this potato chips production business. This gives you legitimacy and legality to operate.
Find a good location and purchase equipment
From the feasibility study you conducted above, you can get a good location that will help your potato chips production business succeed. This location has a lot of impact on the success of your business. Ideally, you will have to locate your business near the source of raw materials and other supplies.
When you have secured a location, you will have to purchase and install all the necessary equipment and machinery.
Of a truth, you will require the services of other people in your potato chips production business. From the office staff to kitchen staff, employ competent people who have had enough experience working in a similar capacity.
For you to succeed in a potato chips production business in Nigeria, you have to get the right supplies of the requisite materials. You will need easy access to supplies of raw potatoes, oil, packaging materials, and so on. Get as many suppliers as possible to help you always have constant supplies.
In all, ensure you carry out a proper business research before investing.