How To Start A Profitable Toothpick Production Company
Toothpick production business is a business that is underestimated by most people and entrepreneurs, a lot of people don’t even consider it as a form of a business idea which makes the business a less competitive one. The toothpick is a short pointed piece of wood or plastic used for removing bits of food from between the teeth.
I am sure you will be wondering how can one go into such a business and make a profit out of it. The simple answer is yes. Yes, you can make good money from this business and I guarantee when you get in, you are sure to see your return on investment in a short period of time.
Read on as this article will show you how this toothpick production business is the perfect business opportunity for you. Here are the business samples:
1. GET A BUSINESS PLAN
The importance of having a business plan before starting a new business cannot be over-emphasized and the fact that it sounds easy to get into this business does not mean you should ignore having one. A well-written business plan should be able to help you stay focus to achieve set business goals. Your business plan should also give you a clear picture of your start up cost, targeted buyer, fellow competitors and future growth of the business.
2. TOOTHPICK PRODUCTION CAPITAL
One does not require huge capital to get into this toothpick production business, this is one of the areas I believe your business plan would have covered so you know beforehand the amount needed to officially launch the business. If you don’t have the capital at hand, then try to apply for a business loan from microfinance banks or get into BUSINESS PARTNERSHIP (a website) for private investors and find someone who will invest in your business.
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3. GET A BUSINESS LOCATION
It is always advisable to site your business located in areas that are accessible and convenient for both you and potential customers. This means that you should find a space that is affordable and motorable, also consider other things like if it’s close to a market, hotels, restaurants, schools, and the rest before agreeing to rent it because potential buyers can easily be seen and approach in such places.
4. GET YOUR RAW MATERIALS READY
When you have secured your location, the next thing to do is find ways to purchase the raw materials you will be needed for production or better yet, find a wood supplier that will be supplying you with either bamboo wood or hardwood because those are the type of wood suitable for making the toothpick. One advantage of this business is that the raw materials are locally available in most rural areas, so you are sure of having a steady supply of your materials.
5. PURCHASE THE NECESSARY EQUIPMENT
Toothpick production needs the use of certain machines to facilitate smooth operation. Like, a sharpening machine, splitting and polishing machines and stainless steel for packing. You also need a set of small or medium-sized plastic bottles and hand gloves.
Note that, it is not a must to purchase all the equipment listed before you can get started.
6. MARKETING
Once you are done with production, start taking your product to places where know potential buyers are, like, hotels, fast food places, big restaurants, local canteens, and supermarkets. You can approach individuals on the roadside and get them to buy for their personal use. If you are in Nigeria and a Nigerian, don’t forget to market your product to those mallams that sell suya (barbecue meat) by the roadside at strategic places in town, those mallams are the major buyers of the toothpick.
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Take advantage of any opportunity, be it small or big, and market your product. Remember to grant your customers discount periodically in other for them to stick to you.
And that is all there is to get you started on the making of a toothpick. So got get started and make that money.
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