How Lucrative is Printing Business in Nigeria? See the feasibility study, things needed to start and the profit margin from printing business in Nigeria.
The first question that comes to mind as regards to printing business is, “how lucrative is the printing business in Nigeria today?”
Since it seems that a lot of people are already into this business and are not quitting, it therefore means there is a market for it and it’s very lucrative. All you have to do is to identify which category is best for you and take control.
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This article will help you in understanding some basics you need know about the printing business in Nigeria. The modern technological advancements have made the printing business easier and simplified due to the digital printing machines that are now used for printing jobs which gives a faster, clearer and neater job quality.
Key Players In The Printing Business
The printing business has a complete cycle, which involves the;
a. Freelance printer
The freelance printer doesn’t own printing machines, most don’t know how to do graphic designs, they are the links between clients, the graphic artist and the printing machine owners.
Basic requirements involves little research about the business, a flash drive and an identity; they require little or no training.
b. The graphic artist
The graphic artist is the person who does the fancy designs, art works, logos and write-ups before printing, most graphic designers work independently and own their own offices or can be hired to stay at a particular printing press. The basic requirements are a laptop, power supply and good knowledge of graphic design.
c. Printing press owners or printing machine owners/operators
This category are the ones with big capital and invest in printing machines of different sizes and grades, some bigger printing press do hire experienced printers and graphic designer, machine operators and station them in their printing press.
Below are some requirements and findings on how lucrative the printing business is in Nigeria.
Requirements For A Successful Printing Business
a. An office space
b. Proper Research
c. Market Survey
An office space
An office makes it easier for people to locate you, it also helps shelter printing machines and other equipment, for a printing press getting an office is a necessity.
The success of a lucrative business depends on proper research. You need to ask questions that matter before starting.
The questions should cover how the business is being operated, necessary challenges, possibility of success and failure should also be considered (SWOT analysis).
Conducting research before embarking on any business will help a serious businessman or businesswoman to ascertain the level of capital required for the business and thereby make budgetary provisions for it.
Understanding the market through a survey is an aspect that will help you stay equipped for the business, where you need to find out people opinion about the business, what they feel was not there that should be added, what they hate, their satisfaction and hopes of improvements, the survey will help you determine the boom periods.
Registering your business gives the business a good and legal Identity. Also, it makes the business easily traceable and most organizations are comfortable dealing businesses that are registered. Also endeavour to register with necessary associations.
One of the most important factors in printing business is being known, by advertising, you are exposing your business to clients for patronage.
Be sure to leverage all possible avenues for advertising like the internet, newspaper, bulk SMS, banners, handbill and signboard.
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How Lucrative is Printing Business in Nigeria?
Printing business in Nigeria is very lucrative, compared to the capital Invested and the high yield of profit margin. The good thing about printing business is that you can start with very little capital or make huge investment, with little as training and research about the print business.
Printing business in Nigeria is quite a unique business because it thrives in both rural areas and urban cities, and despite the high rate of competition there is always room for one more person who is interested in the ever expanding and very lucrative printing business in Nigeria.
Nigeria has a population of about 180million people, and it is estimated that over N50 million Nigerians are in need of printed materials daily as long as there are ceremonies like birthday parties, weddings, burials, campaigns, religious house’s crusades, handbills etc, and the printing business will keep booming daily and the demand for printing jobs will always be on the rise.
Based on an interview with a printing press owner, I was meant to understand that his company handles over 40 prints jobs daily which include letter head, complimentary cards, and wedding invitations, posters, stickers and even t-shirts and many more.
He said about 90% of the jobs he prints daily are from the people who are in the freelancing in the printing business and he estimated that they made a minimum of N3, 000 to N4, 000 per job everyday and most of them brings more than one job a day for printing in his establishment and they should make nothing less than N20, 000 to N25, 000 as their profit weekly.
He further narrated that his clients on the printing business are from the freelance printers who seek for jobs from different places, what they normally do after getting a job is to call him and ask for how much he’s going to bill for that particular job, for example, a 24×36 photo with frame cost N11,250, they will charge their clients N15, 000 to N16, 000 or even more, after their expenditures, they will be left with a minimum of N3000 for a single job.
The printing press owner also claimed that he makes at least N300, 000 daily if he prints 30 to 35 jobs, and after his daily expenditures which include fuelling his power generating set, cost of materials, percentage of his employees’ salary, the daily percentage for his invested capital and feeding, he would be left with at least N60, 000 to N70, 000 daily. After the interview I left his office with my jaw opened.
From other interviews with some of the freelance printers, they shared their experiences of the business confirming they make a minimum of N2, 000 on each job and they also made it known that the graphic artist or designer charges a minimum of N2, 000 per job also, which has been an eye opener for freelance printers, some of them have decided to take up lessons on graphic design as it is an invaluable part of printing business.
When Is The Best Season For Printing Business
The good thing about printing business is that it is a day to day business which runs throughout the season without break, in other words it is an all season business, and will continue to remain so for the obvious reasons that people consume printed materials every day.
As long as Nigerians use paper for information sharing, printing of complimentary cards, posters, banners, letterhead, labels and tags, photograph etc the print business will remain a continuous source of daily income for many Nigerians.
The printing business in Nigeria can accommodate different classes of investors and entrepreneurs, as an entrepreneur in Nigeria looking forward to venturing into the printing business with little capital, the business will always turn that your initial capital into profit in just a few days, while investors with huge capital can setup printing press, buy machines, hire an operator and people will always come with jobs which will in-turn bring huge profits. If you are thinking of what to venture into, now you know how lucrative printing business is in Nigeria.
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