Bead Making Business Plan 2019/2020 pdf | Tools For Bead Making In Nigeria
- 1 Bead Making Business Plan 2019/2020 pdf | Tools For Bead Making In Nigeria
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About four months ago, I went to the market and ordered for some bead making materials that will help me customized a friendship bracelet. After watching a tutorial on YouTube on how to go about it, I was able to get it done within 20 minutes.
Bead making business is no doubt another lucrative business people aren’t exploring. If there’s a business out there doesn’t require much finance to start, it’s bead making. Actually, this business is more of creativity. By designing something different, you end up making thousands in return.
As we all know, fashion is the order of the day and no one wants to be left behind. With bead making business, you’ll be able to join the few players and make money for yourself. There are lots of niche in the bead making business, discover one that’s more in demand and specialize on them.
Months ago, friendship bracelets was reigning so much that I considered having one. You can order from a bead maker and have your name written with the help of Alphabet beads. Per friendship bracelet was over N500. The good thing is; it’s something that can be made within 10 minutes as a professional.
In this article, I’m going to discuss in length how you can start this bead making business in Nigeria. You might not even need to enroll in any bead making tutorial class or institution. If I can learn how to make a friendship bracelet within twenty minutes on YouTube, why can’t you? Here is a bead making business plan. You’re free to ask questions using the comment box.
How To begin Bead Making Business In Nigeria
1. Conduct A Good Feasibility Study
Like every business, you need to know what you’re going into before you dive. Know the cost of all the materials you’ll need. Find out if there’s an expert who’s already in the business and enquire how demandable the products are. One thing with beads is that, it’s always in demand. No one goes out without a bracelet, ear rings and necklace.. Your feasibility study will help you know the cost needed to start.
2. Get A training
Whichever medium you feel you can learn best, go ahead. You can learn under an expert, by going to these skill acquisition centers of perhaps, learning directly from YouTube channels.
However, learning from YouTube doesn’t mean you should look down on other means. The more sources you learn from, the more you become good in bead making business. Bead making is all about creativity, all you need is to learn the basic steps, it’s now left for you to use your imagination to create something unique.
3. Working Tools
Like I already said, bead making business is very lucrative and no capital-intensive. When o was learning how to make a friendship bracelet, the thread was so cheap, N100 per pack. An alphabet bead on the other hand is N150, depending on the type of bead.
The materials for creating a bracelet and for making a necklace aren’t the same. There are other materials like pliers, cutter, tiger tails, strings, fishing line etc. Go on a market survey and find out the prices cause they vary from location to location.
4. Get A Space
You can rent a shop or perhaps work from home, whichever one you prefer. But as you grow and get positive responses, you’ll need to get a shop to make this business a mega venture. When getting a space, make sure it’s an open busy place where potential customers can easily see them and buy. If you are going to work from home, then make sure you market your products well.
How to market & Promote Your Bead Making Business
The success of any business venture is tied to the customers and if you are unable to get your products out there, your business might not see the end of the day. There are many ways you can effectively market and promote your business.
Start from your local church, school, offices. Expose to all your friends and families, even neighbors. Chances are that they will buy to support the business. If you’re going to be producing in huge quantity, supply to retailers and sell to them at a reasonable price. If you do this well, you’ll not only make money, you’ll also employ extra hands to help you grow the business.
Profit Potentials In bead Making Business
A bead necklace can cost over N1500 when selling to a consumer, imagine if you were able to sell about 20 necklace a day. Ear ring is very easy to make, but when selling, can go for N500 or even more, same with bracelets of any kind or design.
The only driving force lies on how beautiful your design is. That’s why you have to be creative to make it in this business. Get trained, be a professional and you won’t worry about selling your bead products. You can make as much as N100,000 a month if well marketed.
FInally, bead making business is a profitable venture. As time goes, you might have to register the business with the corporate Affairs Commission. That will be the beginning of building a brand. The benefits in this business are numerous, get started and you won’t regret it.
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