In this article, you will learn how to start a printing business in Nigeria. Whether it be a small-scale business, a printing press or digital printing, or any other type of printing business in Nigeria. You want to know whether your printing business is profitable or not, the cost of starting, the materials, and equipment needed, and finally the step-by-step guide on how to start a printing business in Nigeria.
Printing business is a capital-intensive business in Nigeria and for this reason, it is important to be well informed before going into the business. The printing business is a very important business in Nigeria. Without it, there will be no large display banners for adverts, books, magazines, and more.
In fact, a world without printing is a world without education and entertainment. This is because printing helps the education sector by making children able to have books to read. It helps the entertainment sector in terms of running adverts and more.
In Nigeria, digital printing businesses are the ones responsible for the printing of large format banners while the printing press business is responsible for the production of books and magazines.
Is Printing Business Profitable?
Printing business is a profitable business because it is the lifeline of the entertainment industry and the educational sectors in Nigeria. If you go into the printing business whether printing press business or digital printing business you will make big profits as the printing market in Nigeria is not yet over-bloated.
Yes, the capital needed to start a printing business in Nigeria has discouraged so many Nigerians from going into the business. For this reason, only a few are in the printing business. So if you become a printer today you will have a large market share.
Capital Needed to Start Printing Business
How much does it cost to start a printing business in Nigeria? This is perhaps another important question on your mind. This is because there have been different opinions about the capital needed to start a printing business in Nigeria.
Depending on the kind of printing business you want to go into in Nigeria whether large-scale or small-scale printing business and the kind of printing contracts you want to go for as a printer you will need a minimum of ₦1,000,000 – ₦5,000,000. If you are wondering how much a printing machine is in Nigeria. Well, it usually takes a large sum of your starting capital.
Equipment Needed to Start Printing Business
If you want to start a successful printing business in Nigeria. There are equipment you will need to print for your customers. These are:
1. Printing machine
2. Laminating machine
3. Cutting system
4. Binding equipment
As for raw materials, you will also need them. The most common raw materials for printing are ink, papers, boards, and more.
How to Start Printing Business in Nigeria
Here are steps to set up a printing press business or digital printing business in Nigeria.
1. Write your Business Plan
The first step to starting a printing business in Nigeria is to write a printing business plan. The printing business is a capital-intensive business. For this reason, it will be risky to go into the business without getting your hands on its business plan.
If you have been reading this blog for a long time you will know we prioritize business plans. This is because business plans are powerful; they guide you on everything you need to know about a business. Having a printing business plan increases your chance of making profits from your printing business without spending too many years in the business.
You can write your business plan yourself or simply pay us a token to write it for you. Contact us via email@example.com on this. If you want to write the business plan yourself I have written an article on how you can go about it. You just need to follow the step-by-step guide.
2. Get the Required Capital
As I explained earlier, the printing business requires huge capital. This means you have to be able to afford the business before you can go into it. You need to source the capital before you can even proceed to the next step.
It is best to reduce the risk in this business in all ways so I will say you should avoid borrowing or lending money to start the business. Money, especially from banks, has a huge interest. This might crash your business from the beginning. Read our article on how to get funding for your startup in Nigeria if you are looking for different ways you can fund your business.
3. Buy your Printing Equipment
Printing business is a production business in Nigeria. You need equipment to produce. You need to buy all the equipment listed above before you can say you want to go into the business. The most costly equipment in the printing business in Nigeria is the printing machines.
Many of them run into millions. For this reason, you have to make sure you are buying good equipment. Many printing businesses in Nigeria buy tokunbo printing machines instead of new ones. This is because the tokunbo machines last longer than the new ones. They are reliable and they are cheaper too.
4. Getting the Perfect Location
Location is very important in a printing business. It determines the success of your business or its failure. When renting an office for your printing business in Nigeria there are a few things you need to take note of.
1. You need to make sure the office you are renting is facing a major road. This is to attract individuals and companies easily to your printing company. If your printing business is facing a major road you will spend less on advertisement.
2. You need to consider space too. Your office must be spacious enough to contain all your printing equipment.
3. Security is very important too. You need to rent an office in a place where you are sure that your printing equipment will not be stolen.
4. Power: Will you source electricity in that area or simply use a generator?
5. Register your Printing Business
Branding and registration of your printing business in Nigeria makes you stand out from other printing businesses. Branding is when you get a business name and logo for your printing business. This can be done for you by a professional graphic designer.
However, the registration of your printing business needs to be done by a CAC official. To do this, you need to go to a Corporate Affairs Commission branch close to you to register your business as an entity. There is a lot of other information you will need to provide to register your business.
All this will be made known to you when you get there. Read our guide on how to register your business name in Nigeria. This guide helps you to do everything by yourself.
6. Hire Workers or Staff
Whether it be a large format printing business or any other kind of printing business in Nigeria, you need staff. You need to hire workers. The number of staff you hire depends on the type of printing business you run and how often you get contracts.
But you will need at least three staff. At least one out of those three has to be experienced in the printing business to reduce the workload on you.
Based on what I have written so far you will testify that printing business in Nigeria is a lucrative business. But not everyone can go into it because it is capital intensive. This is why it is called the business of the rich.
For many of us that do not have much and want to go into the business, you can partner with individuals that like-mind mine like you for funds and start the business with the term. This kind of business is referred to as a partnership account.