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Top 23 Small Scale Manufacturing Business Ideas by Nobody: 8:32am On Jan 23, 2021 |
Starting a large business is fine. Provided, you have ample capital and other resources required. However, a glimpse into most large business houses of Nigeria reveals, they started as small scale manufacturers and expanded over time. More often than not, it can be pretty difficult to find capital to start a business. Given this scenario, the best option is to start a small scale business. Generally, such businesses require capital up to N100,000 or lesser. Indeed, products made by small scale industries are in greater demand since product quality is often higher and prices rather competitive. 23 Small Scale Manufacturing Business Ideas For Entrepreneurs We have already discussed 20 NEW PROFITABLE BUSINESS IDEAS FOR ENTREPRENEURS. Here we look at 23 great small scale manufacturing business ideas, which can help fulfill your dreams of becoming rich. 1: Manufacturing Herbal Hair Oil Admittedly, a lot of brands of herbal hair oils that promise near miracle cures for problems such as hair loss, hair fall and healthy hair are available in the market. This tends to confuse consumers about which product will offer them best results. There are several traditional formulae for herbal hair oils which seem to be overlooked by large manufacturers. Should you possess any such traditional recipe that prevents or reduces hair loss and greying, you can enter this business. 2: Manufacturing Exotic soaps Nigeria is a land of exotic herbs and spices that possess medicinal qualities. Lots of these herbs and spices have beneficial effects when applied on the skin. Further, Nigerians, by nature, lay heavy emphasis on bathing and freshness every morning. All you need is little study into beneficial effects of certain herbs and spices on the skin and blended with the simple process of making soap. Making exotic bathing soaps can help you enter the small scale manufacturing business that promises rich returns. 3: Manufacturing Handmade chocolates You and I love chocolates and so does almost everyone. Manufacturing chocolates is fairly easy. Moreover, they have a ready market since people always wish to try newer variants and exotic flavors. You can let your culinary imagination run wild and make chocolates with the flavor of any spice or fruit. Chocolates also make ideal gifts during festive season and special occasions. You can take orders for special varieties as well as sell regular ones through cake and pastry shops. Assuredly, there are several pastry shops who buy handmade chocolates from small scale industries. 4: Manufacturing Cookies and biscuits Small scale manufacturing business of cookies and biscuits is extremely lucrative. Understandably, people look for newer tastes and varieties than those offered by large companies. Furthermore, several smaller manufacturers and bakeries no longer produce cookies and biscuits since due to their inability to cope with stiff competition from giant companies. Hence, there exists a vacuum in the market for cookies and biscuits that are made with traditional recipes and offer a taste of yesteryears. Hence, small scale manufacturing of traditional cookies and biscuits is something you may consider to open a business. 5: Cottage butter Nowadays, we are all accustomed to salted butter manufactured by large companies. Of course, a few varieties of unsalted butter are also available. Despite, there are no manufacturers of cottage butter, as it is called. Cottage butter can be described as that derived from churning buttermilk. It has immense health benefits. Furthermore, Nigerians are large consumers of paneer- or milk casein, derived by splitting milk. Traditional, homemade ghee or clarified butter, as it is called abroad, also has a great market in Nigeria. With milk- both from cow and buffalo in abundant supply, a small scale manufacturing business to produce cottage butter, paneer and ghee is sure to succeed. 6: Candles & wax products manufacturing With power failures rampant in several parts of Nigeria, candles are in great demand. Understandably, there is a huge market for candles of all shapes and sizes. Nowadays, one can buy small candles used on birthday cakes to jumbo sized ones used for providing light during power outages. Candles are also used for religious ceremonies and rituals. Additionally, a huge market for other wax products for offering at churches and other religious shrines or for decorative purpose also exists. Making candles and wax products is fairly easy and has a ready market across the country. This makes candle and wax products making a great small scale industry idea. 7: Candy and hard-boiled sugar confectionery Interestingly, large manufacturers seem to have relegated the candy and hard-boiled sugar confectionary market in Nigeria to the backseat. Of course, there are quite a few large players in the market, but small scale manufacturers seem to dominate this fairly unorganized market. Machinery to make candy and hard-boiled sugar confectionery is readily available and can be easily set up at any small premise. Furthermore, basic in manufacturers are readily available anywhere. Moreover, there exists a large market for such candy and confectiogredients that include sugar, glucose syrup, approved food colors and flavors from reputed nery on the Nigerian Railway network, where stalls at station sell such inexpensive products to travelers. 8: Soda & flavored drinks A great example of small scale manufacturing business of soda of all types- plain and flavored can be seen in the state of Anambra. For just N100, you can buy a 50cl bottle of plain soda while orange, lemon, strawberry and other flavored variants. In comparison, plain soda from large manufacturers costs N200 and upwards while flavored soft drinks are priced around N250 to N300 each. Interestingly, there are over two dozen small scale soda manufacturers in Anambra but each of them has a fair share of the business. This is evident from the fact they have been in business since decades. Furthermore, they are licensed manufacturers. Admittedly, there are large players in the market but the Anambra example aptly reveals there is scope for small scale manufacture too. 9: Fruit pulp manufacturing Shockingly, millions of rupees worth high quality fruits are wasted in Nigeria annually. Primarily, this wastage occurs due to the absence of an advanced cold chain logistic system. Sufficient refrigerated trucks and warehouses are not available to store surplus produce. You can benefit from this malady by opening a small scale manufacturing business of producing fruit pulp. High quality fruit pulp is in great demand among large scale ice-cream manufacturers, sweet makers, restaurants and star rated hotels as well as individual customers. The demand for pulp of seasonal fruits such as mango is said to be rather high, especially from reputed ice-cream manufacturers and Nigerian sweet makers. 10: Dehydrated, frozen vegetables As explained earlier, Nigeria is known to waste large quantities of fresh produce. This also holds good for vegetables. Colossal quantities of high quality vegetables that end up in trash daily can be put to good use, merely if they are dehydrated and frozen. For example, dried tomato, dehydrated onions, frozen green peas and cut beans are in great demand. Hence, a huge domestic and export market for dehydrated and frozen vegetable exists. The sole impeding factor for Nigeria to enter this lucrative market is lack of adequate small scale manufacturing businesses that can provide such products. Opening a unit that dried and frozen vegetables can open you doors to the large global market. 11: Nigerian Bread Almost every major city or industrial zone is witnessing an unchecked influx of single people- men and women. They converge on these cities, towns for employment. Consequently, they are forced to live in accommodations that do not permit cooking or lack time and inclination to prepare their own meals. Nowadays, another trend is for both spouses to work, to earn extra income to meet rising inflation or for better lifestyle. A growing number of small scale manufacturers are now producing these Nigerian breads on industrial basis and selling them in convenient packs at economical rates. Machines to knead dough and bake these breads are available at fairly reasonable prices. 12: Paper bags and envelopes manufacturing Undoubtedly, recycling is fast gaining momentum. This is due to growing awareness for the need to preserve our environment. You too can help preserve the environment while making money by opening a small scale manufacturing business that makes paper bags and envelopes. Since this is a manpower intensive small scale business, you will also play a key role in providing employment. Generally, paper bags are made of discarded newspapers and similar material. These bags and envelopes are in high demand with large supermarkets, pharmacies and other retailers. Especially, since they cost lesser and impart a great impression about the retailer being environment conscious. Raw material you need is available aplenty and equipment such as cutters is inexpensive. 13: Costume/ imitation jewelry manufacturing Costume and imitation jewelry has never been out of fashion. In the past, it was the mainstay of the economically weaker segments of the society. However, as women, especially teenage girls are becoming increasingly fashion conscious, they look for matching accessories to suit their attire. Online stores have also made fashion garments inexpensive. Correspondingly, a large but vastly untapped market for costume and imitation jewelry exists in Nigeria. Women seek matching jewelry to go with their dresses. You can fulfill these needs by staying in touch with the latest fashion trends, often dictated by Bollywood movies. Further, you can manufacture such costume and imitation jewelry that are trending. Few can afford to buy jewelry made of precious metals such as platinum, gold or silver for daily use. Hence, you can meet the need by opening a small scale manufacturing business of costume and imitation jewelry. READ MORE: https://www.wealth-ideas.com/top-23-small-scale-manufacturing-business-ideas |
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