I am sure you will be wondering how can one go into such business and make a profit out of it. The simple answer is yes. Yes, you can make good money from this business and I guarantee when you get in, you are sure to see your return on investment in a short period of time.
Read on as this article will show you how this toothpick production business is the perfect business opportunity for you. Here are the business samples:
1. GET A BUSINESS PLAN: The importance of having a business plan before starting a new business cannot be over-emphasize and the fact that it sounds easy to get into this business does not mean you should ignore having one. A well -written business plan should be able to help you stay focus to achieve set business goals. Your business plan should also give you a clear picture of your start up cost, targeted buyer, fellow competitors and future growth of the business.
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2. Toothpick Production CAPITAL: One does not require huge capital to get into this toothpick production business, this is one of the areas I believe your business plan you would have covered so you know before hand the amount needed to officially launch the business. If you don't have the capital at hand, then try to apply for a business loan from microfinance banks or get into BUSINESS PARTNERSHIP (a website) for private investors and find someone who will invest in your business.
3. GET A BUSINESS LOCATION: It is always advisable to site your business location in areas that are accessible and convenient for both you and potential customers. This means that you should find a space that is affordable and motorable, also consider other things like if it's close a market, hotels, restaurant, school and the rest before agreeing to rent it because potential buyers can easily be seen and approach in such places.
4. GET YOUR RAW MATERIALS READY: When you have secured your location, the next thing to do is find ways to purchase the raw materials you will be needing for production or better yet, find a wood supplier that will be supplying you with either bamboo wood or hard wood because those are the type of wood suitable for making the toothpick. One advantage of this business is that the raw materials are locally available in most rural areas, so you are sure of having a steady supply of your materials.
5. PURCHASE THE NECESSARY EQUIPMENT: Toothpick production needs the use of certain machines to facilitate smooth operation. Like, a sharpening machine, splitting and polishing machines and a stainless steel for packing. You also need a set of small or medium sized plastic bottles and hand gloves.
Note that, it is not a must to purchase all the equipment listed before you can get started.
6. MARKETING: Once you are done with production, start taking your product to places where know potential buyers are, like, hotels, fast food places, big restaurants, local canteens, and supermarkets. You can approach individuals on the road side and get them to buy for their personal use. If you are in Nigeria and a Nigerian, don't forget to market your product to those mallams that sell suya (barbecue meat) by the roadside at strategic places in town, those mallams are the major buyers of the toothpick.
Take advantage of any opportunity, be it small or big and market your product. Remember to grant your customers discount periodically in other for them to stick to you.