It has been estimated that you’ll never cease to use exercise books till you die, especially those running institutions like primary, secondary and tertiary institutions.
Most people in professional fields like medicine, law and engineering, have also been known to be among the major consumers of exercise books and that’s the more reason exercise book production business is a lucrative business you should consider doing. In Nigeria, over 50 million individuals are students who rely on this commodity for survival in the four walls of the school.
Exercise book, version book, copy book; whatever you might like to call it, is a commodity that’s always in demand. There’s a huge market for it already and the only requirement is getting your goods out there. This business is profitable and prone to make you rich if you play by the rules.
It will be worth to take note that this business is capital-intensive due to the fact that you’ll need some heavy machines for production. If you have the finance, then go ahead and join the few entrepreneurs in the business and make a name for yourself.
How to start the business
Exercise book production business is highly lucrative. If you have the finance, draw a good business plan and make it happen. You will never know the millions waiting for you until you venture in.
Demand is always on the rise and you need to join the market to satisfy that demand. It will get to a stage where you earn more by selling advert space on your notebook cover.
The opportunities that lie in this business can’t be summarised in a page such as this. Imagine if you get a contract where you have to make a customised exercise book for a party, wedding, etc… Exercise book production or manufacturing business is among unexplored business opportunities in Nigeria.
Exercise books are useful in every educational endeavour. It’s importance starts from nursery and primary schools. Pupils learn to use exercise books from nursery one, while those in kindergarten make use of specially ruled exercise books. They come in various sizes and types – 2A, 2B, 2D, big 40 leaves, 60 leaves and 80 leaves as higher education notebooks. There are also drawing books. In view of its importance, a venture into the business is out to make ‘cool’ money and you smiling to the bank.
There are four major stages in exercise book production. Ruling of lines on the sheet, folding to desired size, cover printing attachment or stitching, cutting and brushing
Machines needed to start production
The machines needed to start production can be imported from abroad or got from local fabricators. They are no doubt costly, depending on how sophisticated they are. Below are major machines you need to get started with in this business.
Automated feed, cover insertion type, double side disc ruling machine, automated wire stitches, notebook folding machine, cutting machine and a big generating set.
Cost of starting
The cost of starting this business is dependent on how small or big you want to start. For a small-scale book production business, you will need about N500,000 to N2,000,000. Go on a market research, write a business plan to know the overall cost of starting this business.
Why this business is capital-intensive is because the machines needed for production aren’t cheap. Find out their prices to be sure of the amount needed to start this business because the figures on this page are merely estimates.
Market research is needed before going into this lucrative business to avoid business fail. This should be the first step because it will expose a lot about the business, like the competitors, market demand, prices, local polices, etc.. From market research, you’ll be able to draw out a good detailed business plan that will help analyse factors that might negatively or positively affect the business. Through a market research, you also get to know your target market and the range of demand so as to meet them.
Exercise book production business is a technical venture that will require knowing how to operate the machines and how to produce a good and attractive exercise book. I usually advice prospective investors to take up internship in a book production business. Doing this will equip you with the skills and training in addition to exposing some core practices and secrets in the business that will no doubt help you run your business effortlessly.
Where to locate the business
Where the business is located is a very important factor that should be considered. When you’ve got all the necessary raw materials, equipment and training, the next phase will be getting a good location for your business. It will be good if this business is situated far away from residential areas because of the noise pollution that’s inevitable in the course of production. Your business location will not affect the business as long as effective marketing and distribution is put to place after production.
Exercise book production business is not a venture that can be run by one person. You’ll need to employ people who will help in both the production and distribution aspect. The more people you have employed, the more production will be boosted, leading to more sales and profit.
Profits in exercise book
Over 50 million Nigerians are in various institutions of learning. Those in offices, banks, hospitals, etc., aren’t exempted either and one person uses more than 10 exercise books every six months. Imagine if you’re producing 60 leaves exercise book, which is currently at the price of N100.
Let’s do a little maths here. N100 x 50 million = N50 billion. I think I’m about to scream. Imagine if you can tap into 1 per cent of that. You’ll no doubt become rich before you can even say Jack Robinson. Exercise book production business is a goldmine and if you can delve into this business, you’ll make more than you can ever anticipate.