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6 MOST PROFITABLE LOW COST WOODWORKING BUSINESS IDEAS

WOODWORKING BUSINESS
Woodworking and wood carvings are the early age industry in Nigeria and one of the fastest growing industry in Nigerian economy. Apart from mainstream wooden furniture, wooden handicraft also possesses a vast cultural and ethnic diversity which is applied to a range of themes, techniques and crafts. Much of this growth is fueled by the huge demand for the domestic market and access to modern machinery to meet this demand. Technology up-gradation & capacity expansion is a strong focus area today for the woodworking business entities in Nigeria.

Woodworking business can be initiated as small scale and home based basis. The field is hugely diversified and only you need to select the right product. Nigerian Woodwork Industry uses various kinds of woods, for example, Walnut, Sandalwood, Teak, Sheesham, Deodar, Ebony, Redwood, Rosewood, Red, Cedar, Sal, and many more. Recently, embedding of brass wires has gained lot of attention worldwide.

WOODWORKING BUSINESS COMPLIANCE
In starting a woodworking business you will need to register your firm first. For a small scale setup, you can register as One Person Company. Apart from this, you will need to obtain Trade License and Vat Registration. For a medium scale or large scale woodworking unit, you must apply for Pollution Control Board.

MANUFACTURING PROCESS OF WOODWORKING BUSINESS

  • Product Planning

Product planning according to the quality specification is the first stage of manufacturing process. Determining manufacturing method, schedule and calculating the cost of the product are the main aspect of this step.

  • Resources

Selecting and obtaining the right tool and machinery is the next step. You also need to procure raw material such as wood and other consumable accessories. For a small scale woodworking setup small tools are enough to serve the manufacturing purpose. But for a full-scale commercial factory setup or for an import oriented unit setup, procuring and installing technically upgraded machinery is important.

  • Product Development

When all the preparations are complete, commercial production begins. Even at this stage, modifications and improvements are made to the manufacturing line.

  • Inspection & Shipment

Manually close inspection is needed to make sure there are no defects or flaws. Only those goods that pass the inspection are delivered to the customer packed carefully to prevent contamination or damage.

6 MOST PROFITABLE LOW COST WOODWORKING BUSINESS IDEAS

  • Plywood Manufacturing

Plywood is a popular interior material for housing, ships, vehicles, and furniture. It is an economical, factory-produced sheet of wood with precise dimensions that does not warp or crack with changes in atmospheric moisture. Ply is an engineered wood product made from three or more ‘plies’ or thin sheets of wood. These are glued together to form a thicker, flat sheet. Plywood has the structural strength of the wood it is made from. Plywood manufacturing is a profitable venture for new entrepreneurs.

  • Wooden Furniture Making

Wooden furniture making one of the most early age industry in Nigeria and still is considerably profitable. Ethnic and modern, both two types of furniture are in demand. Bed, sofa set, cupboard, almirah, dressing unit, sitting arrangements, reading table, round table are some of the popular wooden furniture items.

  • Wooden Interior

Wooden interior is decorating interior part of a room with wood and wood supplementary products. Wooden flooring, wall, ceiling and other interior separation made of wood are very popular. In this segment your woodworking unit can support both domestic and corporate customers.

  • Wooden Utility Product Making

You can initiate a small scale unit of wooden utility product making. Some of the most popular wooden utility products are spoon, cutting board, mug, tray, bowls, chopsticks, cabinet etc.

  • Wooden Decor Item Making

Wooden decor item has the enormous revenue potential. A small scale wooden decor item manufacturing unit can be established with small startup capital. Some of the most popular wooden decor items are wall hanging, photo frame, toys, sculpture, pen, plant pot, jewellery box and list will be go on.

  • Wooden Jewellery Making

Wooden contemporary jewellery is one of the most popular fashion accessories now-a-days. Wooden jewellery making by using technically upgraded machinery is one of the well revenue generating venture considering the low startup capital required. Selecting right wood, crafting design and shaping, finishing and fittings are the major steps involved in wooden jewellery making business.

Setting up a small woodworking business need to require big investment. According to the desired product, selecting the right machinery and equipment are the major factor in the woodworking business.

Thanks for reading 6 MOST PROFITABLE LOW COST WOODWORKING BUSINESS IDEAS. Let me know your views regarding this article by leaving a comment below. Also, if this article was helpful, kindly share with friends using any of the social media platforms below at the top or bottom of this article.

 

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What are your views regarding the businesses listed above? Are there other businesses you think that should also be on this list? If yes, let me know using the comment section below.

SEE ALSO: HOW TO START A PLYWOOD MANUFACTURING PLANT BUSINESS

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