BusinessHABHere is a guide on How to Start a Granite Business in Nigeria
Construction Companies can’t cope without granites; they use granite in the construction of structures, streets, bridges, etc;
And depending on how huge the agreement they are handling.
They generally need granite supply in very large quantities; and along these lines they depend on granite quarry owners to handle the supplies.
Assuming you have access to a large startup capital, a granite quarry might be a good business idea for you.
You can take advantage of the granite supply business and make millions of naira from providing granite to construction companies.
This article will give you a fundamental idea of how to begin a granite quarry business, and a subtopic on why you ought to invest in a granite quarry business, and elements to consider before paying for a quarry.
Why You Should Invest in a Granite Business in Nigeria
High Demand:
There is the dependably demand for granite in mass quantities by construction companies and tile manufacturers. As far as construction is concerned, there will dependably be a demand for granites.
So, starting up granite quarry means you are investing in a well sort after product.
1. Capital intensive /high returns on Investments:
Starting a granite quarry is very capital intensive.
whether you are purchasing an already existing granite quarry or beginning your own preparation.
You will need a large capital to start up.
The greater portion of the capital will go into logistics, haul leasing (haulage services) or purchasing of a quarry.
Also inclusive is the purchase of heavy machinery.
These will be used in processing the stones to smaller piece granite.
2. Be Your Own Boss:
Starting your own business makes you a supervisor; and as a manager.
You work at your own time schedule, and no orders from top chain expert.
So beginning a granite quarry business will make you your own manager.
3. Write Down a Business Plan:
For a business as complex as a granite quarry, you need to have a very detailed business plan.
The granite quarry business plan ought to have a detail of all aspects of your business including;
1. the estimated capital you need to get started,
2. how the capital will be sourced,
3. the ideal area for your quarry,
4. equipment you will need, t
5. the number of workers that will deal with the quarry;
6. the business structure of the quarry.
Granite Business
So you have to be clear on the following:
Whether it will operate as a sole proprietorship business with you as the sole owner. .
Or do you wish to run it as a Limited risk business with partners?
what will be the obligation and commitment of each partner towards the development of the business? .
And how will profits be shared among the partners? will the business open up to the world in the near future?
Granite Business
These are some of the very pertinent questions to ask prior to commencement.
You need to give a detailed answer to these questions.
Yes, because it will serve as blue print for the business plan.
You can work with a business expert or developer to develop a professional business plan.
Your business plan is very important because investors will request it.
Bank will likewise require your business plan to approve your loan.
Even partners will require for your business plan before they come on board.
Granite Business
You have to register your business to keep running as a legal entity.
Visit the Company Registration Bureau in your State and experience the registration process; Tax Identification Number (TIN).
And Employee Identification Number (EIN) to permit you offer for Federal Government supply contracts.
5. Source for Capital:
I mentioned earlier on that this business is capital intensive to begin especially in the event that you are beginning on a large or medium scale; few ways you can access loan to begin off the business are;
6. Partners:
Your partners can contribute monetarily to the development of the company, while you overseer the everyday running of the company
7. Angel Investors:
Angel investors are people with access to large capital that search for promising business ventures to invest in for a timely benefit.
You can search online about any Angel Investor bunches in your State.
You may have to do a detailed presentation for the angel investors.
To give them an idea of your business plans and the objectives you wish to fulfill for the company.
See also:How to Start a Granite Business in Nigeria
8. Bank Loan:
This is the next alternative you have to raise capital to support your quarry business.
As I mentioned in the business plan point, banks will require your business plan before they can issue put a loan for you.
Additionally, make sure that your loan repayment condition won’t place a money related stress on the company in its early months and years.
9. Quarry Leasing:
If you have the assets, you can properly purchase off the quarry.
Yet, in the event that you cannot do that, you can make a long-haul lease deal with the appropriate specialist in charge of it.
You don’t simply purchase a quarry because of the volumes of granite shakes in it.
There are other components to consider before making a payment for a quarry.
One of which is the vicinity to buyers.
You have to consider the closeness of the quarry site to your buyers.
This is essential to abstain from sending some excess money on transportation to buyer.
This will reduce your gains.
10. Purchase Equipment:
You will need some massive equipment to convert the stones to different sizes of granite.
The greater part of these machinery is heavy obligation machines.
They include: Excavator, Payloader, Crusher, Waybridge, Dumper Carriage trucks.
They are used for transportation from the quarry site to the buyer’s area.
11. Begin Productions:
You have to begin production of granites when your company is ready.
Prior to this, you should have sent already processed samples of granites to companies.
This will involve enlisting the primary set of workers for the quarry.
You can produce like the initial 200 tons of granites to be able to handle at any rate of your first order.
Read also:22 Tips to Start Granite Chemical Production Business in Nigeria
12. Market Your Product:
The last step is to market samples of your granites to potential buyers.
Since you realize that your potential clients are Construction Companies; you can make out a rundown of Construction companies inside your area.
Then, schedule a business meeting with the top managers to arrange a granite supply deal with your company.
If you need a complete business plan, please let us know.
Or, you want us to help you set up this business, kindly contact us.
Otherwise, Please check out these other business ideas you can do
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