In this article, I will show you how to be successful in chin chin business in Nigeria. Chin chin is a very popular snack made from flower.
It is most commonly available during festive periods such as Christmas, New Year and Sallah when most families make it for home consumption and for entertaining guests.
But chin chin is also sold in provision stores across Nigeria. Chin chin business can be quite profitable because it is widely eaten and quite easy to make.
Bust Like any other business, it needs strategy and understanding to make it work. If you are reading this article then you probably already know how to make chin chin so we will focus on how to build the business and make it successful.
If you have been thinking about starting one, then you are in the right place! Fasten your seat belt and let’s take a ride.
How can I build a successful chin chin business? This is the question on the mind of anyone intending to start such as business. Below are a few tips that can help you to make it work and earn significant profit from this business:
1. Add Value
I mentioned earlier that you may have known how to make chin chin before ever thinking about building a business around it. But doing what everyone does doesn’t draw much attention.
If you use the same recipe everyone else uses to make the product, you will be competing with everyone else in the market.
This is where the concept of adding value comes int. to add value means to “add” something extra to the same thing everyone is making that makes your own product stand out.
For instance so many years ago a man came up with the idea of making burgers using chicken instead of beef. It sounded stupid at first but when he tried it and started selling the product, consumers found it tastier than burger made of beef.
The rest is history. It was still burger but the recipe had changed. If you really want to succeed in your chin chin business then you have to rise above competition by adding value.
Ask yourself how can I make this taste better? Be creative and give something to your customers that no one else does.
Read More: How to Produce Bread in Nigeria
2. Market Well
The first step is making a good product that has added value, but a very good product is of little use if it is not properly marketed.
This is why companies spend millions on marketing and advertising. You have to bring your product to the knowledge of potential buyers.
First, you may start by giving your neighbours and informing them of your intention to make it a business. They in turn can spread the word about your chin chin (if they like it) and you take it from there.
You can also take some to your office to sell. Just make sure you don’t sell on credit. The principle should be “cash and carry” without favouritism because I know how this office thing works.
It is also advisable that you take it to other offices such as banks and tell them you are available as a regular supplier should they want you to do that.
You will have a much better chance if succeeding with them if not for anything because they wouldn’t ask you for credit because they don’t know you.
You can count on that. Make sure your marketing strategy is far reaching because they more buyers you have, the higher your turnover and that is the secret of success.
3. Be Regular in Production
It is one thing to establish a customer network and it is another thing to keep the relationship. The key to maintaining a sustained customer relationship is to produce regularly.
Your customers can only become yours if you supply your chin chin without ceasing. If you supply once in a month or two, they are likely to get bonded with a different supplier who makes the product available when needed.
In order to achieve this you should maintain contact with them to know when they need your product and not just that, you should be ready to supply when they do call. This will make them rely on you and the possibility of them buying from someone else will be much reduced.
4. Roll Over
The secret of growth in chin chin business or any business for that matter is that although the initial capital is small, the profits mad from selling the product is rolled over or added to the capital to get a higher capital at every stage.
Higher capital equals higher production to reach more customers which increases profits but unless you discipline yourself to not spend the profits until you start making tangible money, you may be stagnated and eventually fall out of the business altogether.
In everything it is either you are increasing or decreasing there is no middle ground. Patience is the secret of growth so make sure you roll over your profits and you will soon be the happier for it.
5. Get Patented
As your business expands and your product becomes more popular because of its uniqueness, it is advisable that you register your product under a name with the Corporate Affairs Commission (CAC) and National Agency for Food and Drugs Administration and Control (NAFDAC).
This will give you the sole right to sell the product so that no one else may imitate your style and you will be protected by the law against people who may try to do this.
This is an important step if you want your product to have a name because you may get in trouble with the law if you give it a name without following this procedures.
Read More: How to Produce Perfume in Nigeria
6. Employ People to Help You
Congratulations if you have done all the above. Finally, it is time to become a boss! Not in in the sense of pushing people around, I mean a boss as in employ people.
As your business expands you will need more capable hands to help you in running it. You may have had a few people helping with chin chin making but this time, you may need someone to keep the records of income and expenditure, a driver and many others.
This is important not just to help your business but you will be playing an important role in solving the problem of unemployment in the country.
This guide makes it sound too good to be true? Well its not too good to be true but you will need a lot of determination because obstacle abound on every road to success.
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