How To Start A Successful WoodWorking Business

Learn how to start a successful woodworking business in Nigeria. Read on.

The more you are aware of the distinctive qualities of wood and its origins, the more you will value the warmth and beauty that wood offers to our daily lives and the more you will appreciate wood as a material.

Wood is utilised in practically every production process, including the creation of doors, picture frames, toothpicks, furniture, papers, and buildings.

Do you want to navigate the successful wood company path?

Read on carefully, to find out 10 practical steps to take when advancing into the woodworking industry.

How To Start A Successful WoodWorking Business in Nigeria

The 10 ways on how to a successful woodworking business in Nigeria are:

Get the Knowledge
Business Plan
Cost of launching a business
Select an appropriate location
Find a sawmill
Research and purchase wood
Purchase the equipment
Power
Other expenses
Identify where products should be marketed

1. Get the knowledge

Learn the different sorts of these woods. The first step is to gain knowledge. Now that we live in the computer age, you can study online as well.

You will learn about many wood species, their characteristics, and which ones are acceptable for the market here.

Types of Wood in Nigeria

The two types of wood are

Hard woods and
Soft woods.

Mahogany is a type of hardwood that includes numerous species and grades that range greatly in price and quality. It is the strongest, most durable, and highest quality hard wood. Its colour is a reddish brown.

It is the ideal wood for furnishing and is primarily used to make furniture.

The softwood variety of cedar has a reddish-brown tint.

Due to its repelling properties, it is a common wood for drawer linings.

Hardwoods are more expensive than softwoods and last longer as well. Woods of many sorts are employed in carpentry and construction.

Nigeria’s wood industry is prosperous. Although it requires a lot of capital, the market has great demand and a high turnover rate. With the right emphasis, the wood business can swiftly enrich you.

2. Business plan

Create a strong business plan that will serve as a roadmap for your venture. Your business plan should outline everything you need to launch your venture.

The business strategy should include information on equipment, funding, and other factors.

3. Cost of Launching a Business

The wood and plank industry is highly profitable. You must start with 200,000 Naira as a small-scale investment.

As a large scale investor, your start-up capital should not be less than 400,000,000 naira, and as a medium size investor, you require between 700,000 and 1,500,000 naira.

4. Select an appropriate location

Choose a business location close to you or close to an active construction site so you may send the workers there as soon as they are prepared.

A house’s foundation, lintels, beams, columns, and roofing all require planks. These boards are used to construct forms. The machines ought to be dry in your location. Cover them with tarpaulin.

5. Find a sawmill

Join the association of the sawmill (i.e., market selling planks) as soon as you find one.

To manage the wood/plank business, one will require an immediate and automatic network of potential customers and suppliers.

Get involved right away by learning about the industry’s problems and how you may positively contribute.

6. Research and purchase wood

When looking at different types of wood, you must thoroughly research the sources of your log purchases.

The J4 forest/bush in Ogun State or the Ondo forest in Akure, Ondo State, are the most well-known locations in Nigeria where wood logs can be obtained.

7. Purchase the equipment

For this business, you will require many machines. Some of the tools you will need are:

Band and circular mills
Chainsaw mills

Chainsaw mills can fulfil the requirements of a sawmill and are less expensive.

In comparison to circular mils or bands, you can use it to cut larger and wider lumbar.

8. Power

You will require a generator, because your machines require electricity. Nigeria has the biggest dam in West Africa, but it still isn’t producing enough electricity for its own people.

When there is a power outage, which is bad for business, a generator will help. One option is a diesel generator.

9. Other Expenses

You have all the tools at your disposal, but transporting your wood from the forest is not free. Knowing your running costs will help you as a business owner and to choose what to charge for a finished product.

Knowing this information will enable you to continuously generate income.

Along with the upkeep of the moving vehicle, fuel will be included in this cost as well.

10. Where Should Products Be Marketed?

Inquiring about where and how to provide your wood or planks is known as sourcing for the market. Connect with other suppliers and join them right away.

Always make sure your woods are reasonable by looking for sectors that require wood items they will value in order to discover the best suppliers for the lowest prices.

Recommended:

2 Basic Things to do in a Woodworking Business

1. Obtain a licence

In many states in Nigeria, the government has regulations that control the rate of tree cutting. However, once you have your licence, you will be allowed to legally cut down trees anywhere in the nation.

Keep in mind that if you move the forests outside of its jurisdiction, the ministry of forestry will still tax you. Learn all essential taxation, as well as state and federal freight regulations.

You will incur expenses as a business owner hauling wood on state and federal routes

The Ministry of Forestry must be located in order for you to be allotted a piece in the forest or bush where you can immediately cut down your wood logs and then become a hammer holder.

2. The sale of your wood

While walk-in consumers will undoubtedly find you at the sawmill where your woods are located, it is equally essential that you source for clients locally and abroad.

These customers may be individuals or groups of businesses who regularly utilise wood.

Conclusion

Woodworking is one of the most lucrative businesses you can start in Nigeria.

Nigeria is yet to discover and capitalise on its resources. This article will show you how to get started.

In addition to becoming your own boss, investing in the wood industry will greatly increase your profits.