Kitchen utensils are very important. Without them our cooking in the kitchen can be very difficult. There are major utensils and there are minor utensils. There are big ones and there are small ones. All these utensils play an important role no matter how they look.
In today’s article, we will be guiding you on how you can start a kitchen utensils business in Nigeria for profits. Many people do not know that all kitchen utensils are either imported from China, Japan, or USA.
They just assume that all utensils are from China and for that reason they are all substandard but this is not true. In fact, China also produces quality products just like other manufacturing countries.
In a kitchen utensils business, you can strictly go into the importation of the products, or become a wholesaler or retailer. It is easy to become a wholesaler and retailer however, it can be demanding if you are an importer.
Is Kitchen Utensils Business Profitable?
This business is profitable because of how important utensils are today in the kitchen. Kitchen utensils cannot be ignored like I explained earlier because they make cooking fast and easy.
For every bachelor or Spencer or couples that newly rent an apartment they need to buy kitchen utensils to fill their kitchen. Even after these utensils are bought they are replaced when they spoil or get lost. This means that in this business there is no one time buyers. You will always get patronage no matter how big or small.
Capital Needed to Start Kitchen Utensils Business
The cost of starting a kitchen utensil business in Nigeria can be capital intensive. This means that the business requires big capital before it can be established. You will need a capital of #750,000 – #1,200,000 to be able to successfully start the business in Nigeria.
This capital will be used to rent shops, equip and shop and stock the shop.
List of Kitchen Utensils to Sell
Here is the list of the most common kitchen utensils.
2. Frying pans
4. Turning sticks
10. Cutting board
How to Start Kitchen Utensils Business in Nigeria
Here are the steps you need to take to start a kitchen utensils business in Nigeria.
1. Do you Market Survey
It is important to understand the products you sell. You do not want to sound ignorant when customers ask you information about kitchen tools. Before you start a kitchen utensils business you need to take your time to do your findings.
You need to know the types of kitchen wares in the market, which brands are loved more by Nigerians. Which kitchen wares are more durable and reliable? When you carry out all this information they are known as market research.
The markets where you can buy your utensils at the cheapest prices is also important because you need to make sure your prices are as fair as possible. We have written a post on how to conduct a market survey in Nigeria. You should read it for more knowledge on this.
2. Write your Business plan
Except this is your first time reading about business, you will have heard about business plans. Business plans are very important. They are the blueprint of successful businesses.
However, it is not everybody that knows how to write it. One of the things a business plan lets you know is the capital needed to start a business and how you will be able to use the capital efficiently.
There are many ways you can get a business plan before starting this business. The number one option is to write it yourself. Read our guide on how to write a business plan in Nigeria while the second option is to get a professional to write one for you. We can help out with this with a charge.
Reach out to us via email@example.com let’s talk.
3. Get your Business Name
Business names are unique. They give your business a sense of brand which makes you stand out from the crowd. Except the kitchen materials business is a small business you need to register your business name.
But before you do that you need the services of a graphic designer to draw a logo for you. It is this logo you will use along your business name to register your business.
Asides from your logo, there is other information you need to provide to be able register your business with the Corporate Affairs Commission (CAC). All these information are provided in our article on how to register your business name in Nigeria.
4. Choose Location and Rent a Shop
Locations are very important for offline businesses even if you are selling your products from home. The only time you do not need location is if you are running your business online 100%.
To rent a good shop without spending much on advertising you need to make sure your shop is at a place that your customers and passersby will be able to find you easily. When you find the shop make sure it is not expensive. This is to make sure that it will take up to half of your capital.
And you still have enough money to do other important things before the business can start.
5. Install Equipment and Lightning
After renting your shop you need to equip the shop to make it beautiful and be able to contain your goods. You need to install shelves and hooks to be able to hang utensils like spoons, spatula and more.
You also need lighting in your shop to light up your shop at night. This means that you will need a generator to power up your shop at night when there’s no power.
6. Stock your Shop
At this point, you need to go to the market to buy your kitchen utensils. It is advisable you go to the largest dealers to buy your goods. After buying your goods you will need a truck to get your goods delivered to your shop.
It is important you take note of the prices of your products. This is to make sure you do not mistakenly sell them below the selling price. It is important you also note that some utensils are fragile. This means that you will need to handle them with care while you are arranging them.
7. Making Profits from Business
The sole purpose of starting a business is to make profits. So here are some tips to increase sales which will increase profits in your business.
1. Promote your products online
You can promote your kitchen utensils on ecommerce websites like Jiji and Konga. You can also promote your products on social media apps like Facebook, Whatsapp and Instagram.
2. Inform your family and friends.
Even till today word of mouth still goes a long way. You can inform your family and friends about your business. If they do not buy from you, they will surely inform those that can patronize you.
3. Make handbills.
You create handbills with the services of a printer and share the handbills to inform people in the area about your business.
Depending on how big your business is, you might need to hire a sales girl to help you stay at your shop. Kitchen utensils business is a profitable business for both men and women. It is not a gender based business – a business for only women.