7 Profitable Small Manufacturing Business Ideas and Opportunities To Start
One of the major planks upon which the economy of any nation is built upon is the manufacturing sector. Countries that are industrialized, developed and economically sound are nations with an active and thriving manufacturing sector.
Without a doubt the manufacturing industry is an industry, whose effects is multi-tiered and all encompassing simply because manufacturing possesses the potential to employ on a massive scale through direct and in direct engagement of workers. Manufacturing entails the production of goods, equipment, chemicals, machines, processed foods, sports equipment and so on.
In reality, all other industry sectors are dependent on the manufacturing industry to function optimally. The medical and health sub-sectors are reliant on the manufacturing industry to produce virtually all their equipment, tools and supply materials, needed for them to function effectively. The same can be said of the Agricultural industry , which needs the inputs from the manufacturing industry to carry out agricultural tasks; the equipment, the fertilizers and other chemicals, and other tools.
If you are considering going into the manufacturing industry, it is highly recommended that one commences on a small scale (production of tools, homemade materials,), n order to garner valuable experience and to assess the market.
The following small manufacturing business ideas are worth the time and attention of the savvy investor:
1. Production of Childrens Toys
Children have an affinity to and can easily relate with toys, regardless of tongue, tribe or race. The market for toys and associated products is a large one and it is anticipated to keep growing, especially in the light of the world's population heading northwards. Already a business in Nigeria is receiving huge patronage, by manufacturing Barbie dolls, with a local theme.
So, with a good business plan, utilizing skilled hands in the design and conception stage and evolving a robust marketing plan, this small manufacturing business idea could just provide a handsome return on investment.
2. Production of Papers and Notebooks
Although the drive for the preservation of trees is now receiving global attention from the government and other interested bodies, with individuals being encouraged to cut down on the use on these resources. The fact remains that there is still a large demand for paper-based products. Items such as note books and pads are still in high demand, especially by offices and schools.
The savvy investor can employ the use of recycled waste paper materials in deference to preserving the environment, possess a detailed business plan and have in place a robust marketing strategy, in order to turn this small manufacturing business idea into a profitable venture.
Another business that the savvy entrepreneur can consider starting is the manufacturing of drugs. This presupposes that is either grounded in the manufacture of drugs or will engage the services of professionals who will tend that arm of the business.
There are several kinds of drugs; generic and non generic kinds, that can be manufactured. It must be noted that the drug manufacturing sector undergoes regulation and it is required that the business obtains required business and health license and permits before commencing operations.
4. Blocks Manufacturing
If you are looking towards starting a small manufacturing outfit, a business that requires minimal start up capital and the most basic of technology, then a block manufacturing company is the way to go. The construction industry is expanding at a breathtaking place, with new development of estates, residential apartments and commercial sites coming on stream. Therefore a block manufacturing concern is guaranteed a market that is thriving.
5. Shoe Production
This is another small manufacturing business idea that an investor can venture into. Individuals have a need for footwear, both for work and fashion purposes. With the correct mix of expertise in churning out shoes that are trendy and durable, as well as having the right attitude towards marketing and attracting customers, a shoe production business will in no time begin to experience growth and expansion. A major attraction of this small manufacturing business idea is that it can be started with just the basics in terms of materials needed for making the shoes and a little startup capital.
7. Manufacturing of Plastic Bottles and containers
The food and drinks industry, as well as the chemical industry place huge demand for plastic bottles in order to package products. When you consider that a hefty proportion of both consumable and non-consumable products come in plastic items, than you will realize that there is huge market for this product. The savvy investor can turn this demand into a small manufacturing outfit based on the production of plastic bottles and other kinds of items.