Foam is a vital instrument all over households in the world and it serves a very important role in human existence. Foams comes in different shapes and sizes and it have different uses and purposes. It can be used in making of mattresses, big and small pillows, cushions, and other furniture making.
Foam production business is a business that is capital intensive, it also need experienced persons to facilitate the entire production process and make it less complicated. Foam making business is also a business that can stand the test of time because it's important in human's lives and there's always a need for it.
So if you are looking for a suitable and profitable business to to venture into and you have just about the right capital, then you should take the following guide on how to start serious...
 |
| image credit : indiabizforsale |
1. Write a business plan: writing a business plan is among the first steps to take before venturing into a business. Here, you have to write down a good plan that will enable you look and analyze every areas that would help in the growth of your business and also help you know everything you can about the foam industry. Also, a good business plan will ensure you know how and when to carry out market survey so as to learn the tricks of the trade.
2. Learn about foam production process: Here, it is important you learn and master the processes that's involved in foam making. First of all, you might want to consult a business consultant. Someone with knowledge on this line of business and get him/her to give you good information that would be beneficiary to your business. The consultant will help you know stuff like, how to get/meet suppliers, where to get raw materials from and also how to contact experienced hands who can put you through on foams are made, shape and for how long.
3. Register your business: This is also an important steps when starting a business/company. It is very relevant and cannot be taken lightly. If you envisage big plans for your business and you want people to take you serious, then you need to first pick/choose a good name for your foam production company, a good name that people can easily identify with. Then go to the appropriate government authorities with the required documents and get your business registered.
4. Get capital/investors: As stated earlier, starting a foam production business needs good capital but if you can get the necessary capital/resources on your own then much better. On the other hand, if you do not then you need not worry too much, there are always individuals, companies, investors who are willingly and ready to invest in or go into partnership with in a profitable business. You can also sort for loans/capital from banks, but I would advise you against it because it is not healthy for a new business.
5. Find a business location: After sorting and getting your capital, the next step is to find a suitable and befitting location for your foam production company. Most choice locations for manufacturing things is mostly sited on the outskirts of town, so ensure you get a good warehouse that will accommodate all the equipment and other things needed for your foam production.
6. Buy the necessary production machines: since this business is capital intensive, you need to have it in mind that purchasing of new machines and equipment is among the factors that will eat deep into your budget. But If you have limited funds, you can always go for a fairly used foam making machines, you can get from those already in the business before you or from a dealer. There are several kinds of foam making machines to choose from, like , a floral foam making machine plant goes for $8,000 that's about #2.560000 million naira today's exchange rate, shipping excluded. Also, a 700t per day foam machine plant cost about $6,000 that's #1.8 million naira excluding shipping and there are others that goes for as much as $15,000- $30,000.
7. Employ workers: starting this kind of business, you need to hire and employ experienced workers to make your manufacturing company operation run smoothly. Experienced and dedicated workers who will assist you to produce quality foams and lessen the work load for you. You also need to put in place a standardise operating system for your workers to follow, this will help your production business in the long run.
8. Advertise your product:After your production process is taken care of and your finished products(different sizes of foams) is ready, the right step to take is to search for different medium to market your products. You can start by carrying out a low cost adverts on television, radio or handling flyers to people along the road, market place and shopping malls.
The internet mode of advertising is also available for you and it is very effective in today's business world, there are different social media platforms to utilize for people to see your products. You can even open a website and display your finished products along with your business location and other means of contact for easy patronage.
Starting a foam production business is a rewarding experience as long as you dedicated it and I believe with these tips you can now get started on that business.