If you want to start a profitable business that can fetch you loads of returns, consider the book production business. This is one business type that has existed for a long time. If you were born in the late 50s and, 60s-especially in Nigeria, looking back to the days of old at school, you would realize that you used exercise books for writing.
You would also agree that it is one essential item that every student has to go to school with, or else writing may be hampered. Therefore, several entrepreneurs have taken to the Production of this essential item. If you are looking to start your own business like these entrepreneurs, then it becomes necessary that you learn a few basic steps.
However, this business,, is capital intensive, as you would require printing machines and other equipment necessary for the effective running of this venture. Consequently, if you have searched and are determined to delve into this trade, winning tips are below to help you pull things off.
Starting an Exercise Book Production Company – Sample Business Plan Template
1. Undertake Research
It is okay that you have decided to start a business revolving around exercise book production. However, it is more important that you undertake some vital research. This is to help you start out well-informed. So, what would the Research entail? You have got to learn about the type of people in this business, how they can raise startup funds, for which people they produce, where they get their raw materials from, how much, in general, starting the business gulp, and what have you.
2. Be an Intern
Now that you have been armed with vital information, your next port of call would be to practically see things. This means that you have got to search for someone who already does this kind of business and has a printing press. You should visit this place to see how things are operated. Know the various dimensions and measurements being used, and ask for other imperative questions that would be highly useful to you and your team.
3. Draw up a Business Plan
This is one crucial step that can be avoided. To a large extent, this helps to run a successful exercise books production outlet. You may require the services of an expert who would help you see that things are put in place. This might be for a fee. On the contrary, you may be lucky to meet someone who would want to do this by offering a pro bono service. Your business plan must include details like how much you intend to start the business. How many machines do you want to begin with, and how many should you have grown into in the future? The number of workers you want to start with and future projections. These are a few.
4. Get a Location
You need help to easily pull off an exercise book production business at home. This is mainly because of the machines' noise when printing and cutting the paper. Paying with such noise in a residential apartment might be a challenge. However, if, on the other hand, you can manage, then fine. If not, you may be required to look for a shop or space to start this business. Consider notifying a realtor of the space specification you want. This specification involves how big or small you want it to be, the area in which you wish the business to be located, and what you have.
5. Purchase Equipment
After getting a place to situate your printing press, you may purchase all the necessary machines. You would need the cutting and printing machines and a plant. You would also need some air conditioners or fans so the space is manageable when work is in progress. Other tools may be required; however, these are just basic.
6. Hire Workers
You can only possibly run this business with others. It is needful that you hire some operators and workers. Whose sole aim is to man the cutting and other preparation processes for printing the exercise books. You would also need some attendants and printing operators. Please ensure that these people are experienced so that they do not spoil things for you.
7. Start Production
Now that you have a handle on nearly everything, you may commence Production. Be sure to have a standard operating process so that you do not churn out substandard products. Be there to supervise the first batch and compare them to your competitors.
8. Advertise Your Business
You must have solid marketing strategies in place. This is because of the myriad of exercise books already being sold there. Consider visiting schools to tell them about your brand of exercise books and tell wholesalers in the bookshops and the open market about your new products. One other thing that may help you penetrate the market is giving some free copies of the exercise books.
If you take these steps very seriously, you can be sure to gain entrance into the market and win the hearts of buyers in no time. Be sure to always check with competitors to see what may be the new trend in the industry.
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