Investing In Plank Business

Wood is used in making furniture and for buildings. Woods are used in making  doors, photo frames, toothpicks, furniture, papers, it is used in constructing  buildings, it is used  in almost every production.

Woods are classified into two, the hard wood and the soft wood. Mahogany is the strongest and the most durable kind of hardwood. The colour is reddish brown and it is the best wood for furnishing.

One category of softwood is cedarwood. It can repel making it suitable for drawers. Wood processing business is capital intensive and it has much turnover rate and demand.

Starting the Business

conduct a market research and feasibility studies of the business in the location you want to start it to see the chance of success. Find out what you require to run the business and how to go about it from experienced business people in this line of business.

RELATED

Consumers Paid N21,010 For 12.5kg Cooking Gas In June – NBS

11 hours ago

Insurers To Recapitalise as Tinubu Signs Insurance Reform Bill Into Law

11 hours ago

Investment Capital

Firstly, purchase a truck ( 6-tyre) for moving these logs from the place where they are cut down to the sawmill. This truck may cost about N2.5million.

Then, buy tractors to move the logs away from the bush, get a sawmill operating machine for cutting the wood to various sizes, get a generator having up to 30kva and this costs about N150,000 and hire operators who you pay.

Similarly, it can cost up to N1 million to get the Ministry of Forestry to give a portion of land to cut down trees. There are also miscellaneous expenses from transporting wood from the forest to your factory among others.

Hence, you will need a minimum of N6 million to N7 million for this business.

Make Enquiry

Inquiring on how to buy different types of woods means you have to carefully learn about where to buy your logs of wood from. The most popular place in Nigeria where logs of wood are gotten is J4 forest/bush, Ogun State or the Ondo forest, in Akure, Ondo State.

Marketing/Selling

Walk in customers will surely locate you at the sawmill where your woods are, but it is also necessary you source for customers locally and internationally. Your customers could be individuals or group of companies that make use of wood everyday. Apart from being your own boss, you will make a whooping profit by investing in wood business.

Profitability

Wood plank sellers can make up to 30% profit on sales and if you can get a good location with access to a lot of building contractors, building owners and carpenters, you can make a ton of money from this business.