Bakery business is one the lucrative businesses all around the world today. With a nation’s population increasing by millions, it shows that people will continually eat and it will be your business to provide the needed meal. Bread is one of the choice fast foods of people across the globe and in Nigeria, its demand is never in short supply. In Nigeria, for example, the amount of people who consume bread on a daily basis proves that the bakery industry is a profitable industry. In this article, you will have the knowledge needed to start up and maintain a profitable bakery business.
High Demand For Bakery Product
Bread as an example of bakery products is a good source of carbohydrates, proteins, and vitamins. Because it has such high nutritional value, it is widely consumed by almost everyone on this planet. For a very long time consumption of bread has been a necessity for human diets and as continuously yielded an increase in consumption over the years. This proves that the market is wide open for anyone to venture into as one can invest in opening a modern bakery to provide the highest in demand bread for consumers.
Nigeria with a large population consumes a lot of bread with locally made meals such as bean cakes, pap, beans etc. Another fraction of the population may require catering services for parties and wedding to provide snacks and pastries etc. However before you launch into the business, there are some few things you must note
Find Mentors Before You Commence Bakery Business
Search for mentors before you start your bakery business as mentors will easily provide you with solutions to difficulties in the business, provide ideas, tips and information necessary to having a successful bakery business. These mentors will serve as a guide to instruct you on among other things the necessary equipment needed, how to get your license, strategies and branding ideas to selling your bread, etc.
The bakery as a highly lucrative business
Nigerian loves baked foods such as the regular “puff puff”, Agege bread, small chops and so on. With all these, there’s is still a huge market to attract as baking has no limitations in terms of age, religion etc. If you can create a creative branding strategy you will definitely find it profitable by the end of the month.
With the huge population in Nigeria, it’s very easy to say every baker is a millionaire if they get to sell to about one million people in the open market in a day. But baking doesn’t grow in such large fashion in a day but requires adequate time in branding and improving on providing crocrowd-pleasing delicious meals at an affordable price and quick accessibility in order to increase sales.
If you have an intention of baking or you have started your baking business, here are the ways to make it profitable:
Do a proper survey or research to inquire about the demand presently in the market regarding baking products which other bakeries do not offer. In this survey, you can also find out if there is a customer relationship between the producer and the consumer. In this survey y,ou can state what the customer’s demands are and position your business in such a way that meet such demands.
Source for Start-up Capital
Whatever you discover from the demands in the market will affect the budget of your start-up capital and this could be more than your initial budget.
Source for Start-up Capital
The high demand which you have discovered in the market for a particular product will affect the amount of start-up capital you need to start the business.
Furthermore, your start-up capital will determine the materials you would need, the equipment you should buy, your business size, etc. All these would be drawn up into the estimated amount of what to you need to get your business up and running.
Have a Business Plan
The business plan enables you to draw out strategies to be used in the business such analyzing your start-up capital which has been estimated from your feasibility reports, where you want to get your capital from – this could be a loan, from your savings or assistance from family and friends.
This business plan will show marketing and branding strategies to be used to promote your brand, number of staff you need, equipment etc. It is important to start a business with a proper business plan.
Buy Necessary Bakery Equipment
Purchasing the right and necessary equipment is very important. Buying the right equipment depends on the level at which you want to startup the business such as the size of the bakery, capital and so on. Here is the list of equipment needed for a bakery business: mixers, dough molder, large tables, bread pans, display shelves, water proof wrapping sheets, oven, bread slicer, van for delivery and so on.
Proper installation and maintenance should be given to the skilled technicians to monitor and control.
The major materials needed for baking are baking flour, baking soda, butter flavors, water and so on.
Get Approval from Government and Regulatory Bodies
If the law requires any form of payment to a regulatory body, kindly comply and pay every necessary dues and get your government approval and license, in order to carry out your business smoothly.
Get a Good Location
Find a good location that will promote sales. Location close to the buyers will improve sales on a regular basis which will mean constant production that will keep you in business. Without demand, there would be no business therefore get a place with enough traffic to keep yourself ib business.
Safety of Lives and Property
Nigerians have no regards about this matter, they rely more on spiritual matters when asked to get insurance. It is important to note that safety of lives and property is as important as the sales you want to make. Therefore, fix every necessary gadget or appliance for preventing major disaster to your establishment.
Recruit the Best Staff
After your business plan, your staff are also important, therefore, make sure you recruit the best hands with relevant experiences on the job. The recruited staff should not be bakers only but also individuals who understand marketing and distribution in order to promote sales.
How is Bakery Business Profitable?
Bakery business is profitable if you start up with the right capital, inculcate and promote good customer relations, have the right team working with you; that is a team that understands the level of business and so on and so forth.
To venture into the profit side of the business, take note of the following:
Bakery Products Sales and Distribution:
If your product has the right branding and it’s properly packaged with a delicious taste, people will buy it.
Make sure that your products are fresh and attractive fonts or images pleasing to the consumer eyes.
Your distributors can include wholesalers, retailers as they bring your products closer to the consumers
You can offer training to a number of persons and charge from as low as 20,000 Naira and if you have 10 students, that’s 200,000 Naira. This student can also help in production of more products after completing the training.
Offer Event Catering Services
This is the most popular avenue used to make money in Nigeria. A lot of event are usually held on weekly basis and most of them require services of bakers to provide them some tasty meals.
For example a wedding cake costs about 50,000 to 500,000 Naira depending on the number of tiers and decoration. This is also similar to small chops which can be priced at 500 Naira per guests. If your production and packaging is top notch you will get referrals and lots of events will be needing more of your services.
Go on TV Shows
You could have the opportunity to host your personal baking show on TV which could bring more sponsorship deals and brand endorsement, creating a total uniqueness to your brand.
To get to this platform, you must be ready to invest all, that is your time, money and so on but at the end it’s definitely profitable.
Be very open to criticism so you can correct mistakes and do not allow anyone tell you it can’t be done, constantly press on to be better on every side. Turn your business into a money making venture.
How To Start Cinema Business In Nigeria
How to Invest in Cinema Business
This article will provide the needed and necessary information on how to start up a cinema business in Nigeria. It is necessary because cinema provides a means of comfort to all people of different class.
Definition Of A Cinema
A cinema is simply defined as a place of relaxation. It is a place where movies or films. This movies displayed are for entertainment purposes and you are charged for each movie seen. Cinemas have improved the businesses of people as you cannot see a movie without having at least popcorn or an Ice Cream in your hands.
This article will therefore talk on you can start up a cinema business and be successful with it.
- You Must Conduct Personal Research
You should know that you are starting a business you know nothing about so you should not think of making money immediately. You need to meet people that have been in the business for long and are successful. You also need to meet with experts in event planning, studio recording and decorators as there they are the ones to tell you where the right place to set up your business, the cost and the design. These people can help you set up your cinema outfit.
- Make A Tour Around
This is simply visiting other established cinemas. From the visit you will make, you will be able to know how a cinema operates, the risks involved and how to avoid them.
- Get Products Authorization Or Franchise
After setting up your cinema business, it should be noted that it is not compulsory to sell the products of other people. You will benefit a lot from it on the long run.
- You Must Be Competent and Qualified
In order to run a successful cinema business it is important to be trained. This training can be done in business schools as you will learn how to manage tickets sold out for movies and cinematography.
- Reach out To Movie Dealers And Distributors
It is of high importance to get in contact with the people that deal on movies; most importantly the most sought after and highly anticipated ones. This will make your cinema spot attractive as you have what the people are looking for Admission form.
- Space And Arena
Nigeria is a place that when establishing a business you must have a large expanse of land or a big space. In the cinema business, you need to have space big enough to house your equipment’s and tools.
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- Get Good Cinema Facilities And Equipment
The look and decoration of your cinema will determine if customers will come. Therefore it is important to have the latest gadgets and equipment to keep your business growing.
- Always Set In An Income Alternative
This simply means that you are not to fully depend on the income made from cinema as it can fail you at any time. Therefore it is important to have a second choice of income. This can be in form of having a little restaurant, selling popcorns etc.
- Get A Good Advertisement Avenue
It is important and necessary to let people know about what you are doing. You can get to make people know about your cinema business by advertising. Advertisement can be done through newspaper, fliers, television, radio and the internet.
Hindrances To A Good Cinema Business
- Insufficient Funds
A good cinema business needs adequate funds to operate without problems.
- Negative Attitude And Mentality
Having a negative mindset is not the best thing as you begin to doubt yourself. As it is said “what you confess is what you possess” therefore be positive and always believe in yourself.
- Economic Problem
As it was earlier discussed, your location determines the growth of your business. If it is situated in a region where diseases are rampant or have continuous security challenges you are bound to lose customers.
- Moral Behaviors
As a seasoned business person you are, it is important to guard against extra moral behaviors like drinking, smoking, sex acts etc. Your establishment can be brought down by government authorities it they get to discover things like this are happening in your business.
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- Lack of Commitment
Generally speaking now, it is very important to put God first in everything we do. Your business is bound to fail if God is not involved.
The article above has been able to show you the step on how to successfully establish a cinema business this is a summary of everything discussed.
- You must conduct personal research.
- Make a tour around.
- Get products authorization or franchise.
- You must be competent and qualified
- Reach out to movie dealers and distributors.
- Space and arena.
- Get good cinema facilities and equipment.
- Always set in an income alternative.
- Get a good advertisement avenue.
How to Build Powerful Customer Service In Business Enterprise
6 Ways to Improve Customer Service in the Workplace
The desire to have a good relationship with your clients cannot be overemphasized. As it is known, without clients there is no business. Indeed, your customers are constantly right; believe it or not. A business cannot be established or grow when customers or clients are unhappy. In order for your business to grow your customers must be happy. That is why this article is written to provide an explanation on the seven sensible approaches through which you can have an amiable relationship with your customers and clients
Client Retention And Business Growth
There’s one factor we need to recognize about the consumer and this is the idea of consumer retention. This is of high significance in nearly all business ventures. It revolves across the provision of excessive best services and the upkeep of exact relationship along with your clients and consumers.
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In other words, if you want to continue keeping clients, then your commodity and service must be attractive and exceptional and there must be an amazing relationship among you and your consumers. This is the communication flow which must not be damaged. Customers and clients in addition to staff and top level managers must be aware of the whole things that are happening because it is important.
While you work hand in hand with the rules and regulation of client retention in commercial enterprise, you are beating the competitors within the business; out of your competitors and making sure that there is a non-stop flow of capital in your business for the growth of your business enterprise. That is because after you lose your customers, your competitors make profits. So, how do you keep a good customer relationship along with your clients and consumers?
How To Keep A Good Client Relationship With Your Clients And Consumers
Apart from providing high quality goods and services and attractive in precise conversation together with your clients, does it mean there are no other methods to build an extended-lasting relationship with your clients? Don’t be amazed, there are. We have numerous methods and exact aspects you need to have a long–lasting business-client relationship. I am hoping you gain from them and start moving up to your enterprising dreams.
- Understand Your Customer First
You cannot build a functional relationship with someone you do not know or understand. If you must offer a customer the best of goods and services, you must know who the person is first. You need to know a few things about the custom like where they come from, the kind of work they do, what they like and what they dislike, what they feel about your business and how they can also contribute to making your business great. It is high time you started addressing your customer with sweet names instead of just calling them “customer”. If you know them by name, it will be easier to be a bit cordial with them in your business transactions. Customers like to be addressed by name. They love it.
Having an idea of the marital status of your customers is also important. Also, ask about the welfare of their spouse and send them greeting cards. Also, ask about their state of health. That will prove to them that you love them and that you care about them, and not just after getting their money.
- Have In Memory Their Normal Requests And Specifications
Every customer is peculiar in his or her own way. Also two customers cannot be identical nor have equal type of need because everybody does not like the same thing. Take into consideration, imagine that the next time your consumer walks in, rather than asking the customer what he/she wants, you simply say, “Madam or sir, can I get you your normal?”
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This tells the consumer that you recognize his/her specific and regular requests. If the client orders for something special do well to offer him or her exactly what is needed and on time. That is a super way of growing top consumer relationship in your business.
- Offer Freebies From Time To Time
It is necessary to once in a while provide some freebies. This is an excellent way of attracting both new and already existing customers to patronize your business. It symbolizes care and love even though it is an oblique request for more customers into your business. You could constantly give out freebies which include gifts, run promos sales and provide bonanzas. Additionally, you could provide quality discounts and surprises to your dedicated customers.
- Leverage On Consumer Criticisms
You can take your business to your desired level by means of leveraging on the customer grievance and feedbacks. You ought to get hold of this in a proper way as they speak exactly what the customer thinks and what they think about your product. Never turn down the complaint whether they are good or bad feedbacks.
Devise a way of improving upon your services anytime you get such from your clients. It is an incredible chance for you to realize where your business is lacking and the way to improve on it.
Taking the advice of your customers as a priority is a way of showing that you care for them and their desires. Your clients can be more than glad to recognize that their feedbacks were accurately noted.
- Never Allow Preferential Treatments
It is highly offensive to offer preferential treatments at the place of work. It will make the customers think that they are not as good as every other customer. To reduce negative complaint from your customers, it is recommended by no means to engage in any form of preferential treatment or favoritism amongst customers that one is preferred above the other for any reason.
Such treatment is far against the norms of business to select out a consumer and favor such mainly in the presence of others who were there before him or her. It is far stressful; in preference to doing that, look out for a way of entertaining your customers as they wait to take their turns. Put up a TV set somewhere in the business premises and offer sufficient seats in which your customers can sit down as they are waiting for their turn.
- Respond Quickly and Don’t Forget To Say Thank You
It should be known that it may not be possible to send an immediate response to every electronic mail and phone call or text messages you obtain from the consumer. It is encouraged, however, that you attend to such as quickly as possible. You could usually give immediate computerized replies pending the real solutions
It does not matter the condition you are in; try as much as possible to make sure that the responses are quick and at the right time. Usually say thank you at the close of each transaction. It shows that you care about your consumer.
How To Start a Gemstone Business in Nigeria
The Basic Principles to a Successful Gemstone Business in Nigeria
Several questions arises from doing gemstone business because a lot of people are new to this business (just entering the market) while some others are just reading about it for the first time.
It is a known fact that one of the best sectors for business is the mineral sector and it has been identified that Nigeria is blessed with lots of mineral resources and about 35 mineral deposits have been discovered in the nation. Nigeria is a country blessed with unique kinds of diamonds such as topaz sapphire with a large market out there demanding for these minerals.
What is Gemstone and its Physical Properties
A gemstone is a kind of attractive mineral but after being polished and cut is traditionally used to make jewelry or other adornments.
Some physical properties of Gemstone which distinguishes the mineral include its lustre, although most of them are tough. Rarity is another attribute that brings value.
Stone according to this is valued dependent on not the amount available but also from what is called the 4C which is interpreted as Clarity, Cut, Carat Weight and Colour.
Colour: Color is an important element for gemstones as there is no stone without color. If the color of a stone varies from this variety either being darker or lighter, more vibrant or less, it becomes less precious the stone will be. Colour generally consist of three dimensions: hue, tone, and saturation.
Hue is the belief of color noticed like yellow, red or blue.
Tone defines the degree of darkness or lightness of an item.
Saturation defines the level of purity of a colour.
Cut: This is the design or shape of a stone in addition to the accuracy of the proportions of the stone and complete. The cut reveals a gem’s beauty.
Gemstones are usually cut into shapes. Furthermore, they are fashioned or are sometimes carved into different designs. In the Cut property of Gemstones, there are two other sub-properties namely Proportion and End, respectively.
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Proportions involves appeal and the equilibrium of the design. End identifies the detail of this workmanship. A cut will demonstrate the optical properties of a stone. While all other variables are even in terms of (colour, clarity, and carat weight), a more better-cut gem will increasingly be valuable.
How To Begin a Gemstone Business
Possessing a broad assortment of diamonds is vital. Mostly when having a target on diamonds or jewelry, you should be be able to purchase gemstone beads and carve one off designer beads which are in hot demand. One of the ways to build a long-lasting confidence in the heart of your buyers would be to get a huge choice of gemstones. Through the means of a gem testing lab like the GIA, where you will be able to test these diamonds and include a certificate. It will make your buyers to make decisions even as they build trust in your business.
Strategize On Methods of Targeting and Attracting Buyers
When starting out, necessary precautions needs to be taken but the first step to take when starting the business to attract buyers is start for pleasure, majorly as a hobby and also note that you can avoid mistakes only if the precautions are adhered to. Try out your ideas for beginning. Although there’s a need to do some market research too but ensure that your goods are much better than what others are offering.
Try to Build That Trust
One thing about Gemstone business, is that it needs lots of trust and confidence from both the parties (seller and the buyer). When you are enthusiastic about the business, your clients will have confidence to buy from you.
Invest Your Time and Money
You also have to give it your all, invest your time to the business. In this business, the most important thing to do is to invest large quantity of money. Gemstones are costly, and sapphires and the diamonds are the most of all stones.
Have an Escort Especially One Who Knows the Market while Purchasing
It is advised that while trying to source for the product, that you visit the market with someone who knows the market well, especially someone who knows the in-and-out of Gemstone business so that your trade will be worth your cash. You will also find several stores offering the products online and off the streets. For drop-shipping, the shipping expenses will be added. In all these, always try to check up first with someone who has knowledge of the business.
Make A Choice Of What Sort Of Gemstones You Would Like To Market
Before buying a gemstones, you need to decide what sort of gems that you would like to market. Decide if you will establish the market of genstones in retail marketplace or at wholesale. There will be a need to use a cutter to cut the stone if you would like to make the stones in various forms and quality to the market, putting more money into your pockets by selling cut gemstones.
Make More Money Selling Cut Gemstones
By improving the marketplace and making more money, one thing which you would do is to buy a machinery and you probably would have to employ a gemstone cutter the capital you will require will probably be greater. Be assertive that you buy exactly what you would need.
In situations where cut stones will be sold by you, it’s compulsory that you get a gemstone cutter. The cutting of this product can add to the cost and increase to several thousands of dollars.
According to experts, in cutting stones such as diamonds and sapphires in respect to gemstones you would have to pay great rapt attention. This obviously means that the purchase price of the jewelry or the diamond is dependent upon how it’s cut. Which is the main reason why having good knowledge of cutting gemstones is significant to your success in the business.
Strategize and Re-strategize on Your Sales Options
After all been said, you need to identify buyers or potential buyers who may be interested. You may be able to sell your items on the internet or also off the streets. Major investors can be your customers especially for those who like to collect precious things You’ll have the ability to cater for their needs by identifying your target clients. You would need to survey the market for more opportunities in the gemstone business. Produce the quality, quantity of the gemstones in addition to the cost for affordable to everyone. You have the opportunity to promote your business to more clients by promoting your products online. With that, you can have the opportunity to make even more money.
In the Nigerian marketplace, gemstones are very precious but the current market is saturated and will take up as much volume of the product without having any effect on the purchase price against supply. The higher the quantity available, the better your bargaining power.
The price of gemstones can increase by 10 percent to 15 percent once the item is cut.
At this juncture, you must be aware that gemstone export has been a recurring event and just a few people are profiting from it due to lack of information.
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