Nigeria has in abundance all the basic raw materials needed to produce and package quality toothpicks. All it takes is for investors to identify and harness them and in no time begin to smile to the bank.
Market survey shows that toothpicks are in high demand and, of course, have a high turnover.
Market For The Products
Toothpicks are daily demanded in homes, hotels and different institutions. Aside local markets, this product can be exported to earn foreign exchange.
From survey, the very few plants producing toothpicks in the country are not meeting up to demands. This means there are rooms for new investors to come in.
The raw materials for this product are either hard wood or bamboo and light plastic containers on which producers can paste or print their logos.
Machinery And Equipment
The machines and equipment required for the project are also locally available. They include round cross cutting, slicing, slitting; stick making, skewer sizing, polishing, sharpening and packaging/arranging machines as well as dust collector.
Individuals, cooperative societies, local government councils, state governments and corporate organisations can invest in the production of this product.
With N20m, any investor could comfortable go into the business. The payback period is within two years, while the rate of return on investment is about 69 per cent.
A minimum of six people will be needed at the takeoff stage. Although, the project could be located in any part of the country, it is, however, advised to site it in areas where bamboo or hard wood can easily be obtained at a reasonable cost. This will help reduce the cost of transportation of the woods.
To excel in the market, quality products, attractive packaging, proper management structure among others are important.
• Global Trust Consulting. Tel: 08034494437(WhatsApp), 08023664368. Email: [email protected]