Posted on July 18, 2017
Aligning with the thought of the Federal Government on backward integration, going into Chin-chin production is indeed a good venture. Chin-chin is one of the made-in-Nigeria snacks like plantain chips which has now assumed international standard. It is one snack that children and grown-ups alike appreciate.
Parents package it for their kids to have at school in between meal breaks, and grown-ups have it with cool soda pops, squeeze or water both at home, workplace and at social functions.
Most Nigerians don’t go into chin-chin business alone; they frequently consolidate it with different snacks like buns, puff-puff, cake, egg move, pizza, meat pie, angle pie, and so forth.
But due to its taste, it has more acceptability over others and it has turned out to be the most loved snack for many Nigerians both at home and in the diaspora. Also with many Nigerians abroad, it means the country can also earn foreign exchange from it, provided it is well packaged to meet international standard. Though there may be numerous people already in the venture, but one can create a niche through branding and packaging.
However like other businesses there are certain requirements an entrepreneur may need to follow to succeed in the Chin-Chin business and these include:
This is the most essential aspect to consider while planning to go into the business of chin-chin production in Nigeria. Although it is not capital intensive and can actually be run from home.
But despite the fact that it is not capital concentrated, you need an obviously characterised wellspring of capital. Hence you should as a matter of first importance consider how to source money to begin the business.
Chin-chin business can either be extensive or little scale based on the amount you have to start the business. With about N50,000, you can begin your little scale chin-chin business, however for this small scale, you may not be using machines like cutter which is moderately costly.
You can actually make 100 percent profit on your capital and this is why the investment is considered as highly lucrative.
Location is very important as you harmonise your plan for take-off in this business. You should locate your business near a market where you can without much of a stress source the materials for making your chin-chin like floor, vegetable oil, nutmeg, sugar, and so forth.
You may choose whether to lease a shop or work from your home. You can actually begin little from your home and when the business grow, you must have gotten the capacity to lease an office for your business.
There must be a sensible number of individuals living in the area you intend to have your business, unless you want to transport to other areas, where the snacks will be distributed, but this would surely be an additional cost on your scarce revenue. Be that as it may, you must have anticipated how to cover both short and long expenditure.
You must have business consultation with proprietors of stores, grocery stores, inns, schools, organisations, diners, booths, shops, and different entrepreneurs who may likely be great key customers and additionally advertisers of your product.
In this way, your feasibility study ought to have the capacity to cover those key elements in addition to other things.
Operating on a small scale, you may not require a machine to prepare your chin-chin, but when the request is much, it is important for you to get a cutter to cut them into your preferred choice and batter roller for plying the blend before slashing them to sizes.
Different instruments incorporate stove for warming the vegetable oil, and spoon for scooping hot chin-chin from hot oil into a plate. Chin-chin business doesn’t really require enormous machines.