Although soap making business is saturated but it is still a profitable business to consider. This business requires a small capital investment.
Have you ever gotten an idea on starting a soap making business in Nigeria? On this article we are going to show you how to start soap making business and the requirements & cost of starting a soap making business in Nigeria.
Soap production is a very lucrative business in Nigeria, Soap is a daily used products, and thereby it’s demand is also high in markets.
Making soap is a creative business one can turn into a multi million dollar business because it is needed by all. What will differentiate you from other soap producing companies is your QUALITY, that is the only thing that define your business success.
Therefore if your product is good (of good quality), just bear it in mind that after creating awareness your business will thrive.
HOW TO START A SOAP MAKING BUSINESS
Here are the step by step guide needed in starting a soap making business:
(1) Capital: Soap making business requires little capital for a start. You will need to consider the necessary amount needed to start a soap making business and the capital for equipments & other logistics.
(2) Purchase Your Equipments: Buy all the equipment needed for soap making.
Here are some of the necessary equipments: scale, thermometer, immersion blender, measuring & mixing lye containers, soap batter container mixers, plastic or silicone spoons & spatulas, gloves & goggles, soap molds, mash teaspoon, etc.
(3) Prepare Your Soap Recipes: You will need palm kernel oil, caustic soda solution, coloring, sodium sulpate, perfume. You can produce two to four kinds of soap. If you find anyone among them to be the best with quality, The stick to it.
(4) Branding Your Business: Choose a good business name and logo for your soap making business. Create a social media accounts with your Soap producing name.
(5) Marketing: After producing your soap, The next step of marketing should start from your families, friends and relation. Encourage them to buy your soap with good prices and to spread the news about your soap products.
Online & Offline advertisement should be considered.
You will also need a promotional materials like catalogue, brochure, business cards etc. Don’t forget to engage your soap adverts in website. Visit radio stations and tv stations for adverts, This can really help alots!!!
Requirements And Cost Of Starting A Soap Making Business
What are the requirements to start a soap making business in Nigeria? How much does it cost to start up a soap making business? Here are the answers to all the questions:
a. Equipment Cost: With N10,000 the necessary equipments can be gotten.
b. Soap Recipes Cost: This should cost about N15,000 to N20,000.
c. Branding Cost: You will consider the branding cost and registration cost. That should cost about N20,000.
d. Marketing Cost: Marketing Cost should be N10,000.
That is you can start a small scale soap making business with not less than N50,000 to N60,000.
SUMMARY
- Soap making business is a lucrative and profitable business in Nigeria as far as the product is used everyday. It will still be profitable in the next 10 years.
- You should consider these five things before starting your own soap making business in Nigeria; Capital, Equipments, Branding, Target market, Marketing. Don’t forget to acquire every licence needed if you are starting Big. These are the requirements and cost of starting a soap making business.