The Cost Of Starting A Bakery In Nigeria (November, 2023)
Inasmuch as bakery business is a lucrative venture in this part of the world, its equally a broad venture. Going by this, the key to delve into the baking industry is by having a good niche for yourself/business. There are bakeries that focus on the sale of baked bread, some focus on cake baking, some sandwiches, etc. Whichever area you will major on, you can start as a retail or wholesale bakery.
Employing this will keep you on track to success as well as by and large reduce the sumptuous cost you would have spend. This write-up will investigate into the cost of starting a bakery business in the country. This guide will help potential people hoping to make it in the baking industry.
Certainly, the main reason for you perusing this article is because you are presumably thinking about going into the bakery business and also keen to find out about this market. In any case, you will find all those information here as we will highlight them in details. Moreover, with the right master plan and with the correct data, you can make certain to be among the best people in the bakery business.
With how bread is becoming a trend products in the market here, there no uncertainty that the bakery business is one of the most mainstream venture in the country. While a few people have become popular figures in the business, some others actually think that its hard to start and stamp their feet in the industry. The interest for baked products like breads will consistently be on the increase.
The Cost of Starting a Bakery in Nigeria (2023)
How much does it cost to start a bakery in Nigeria? This has been a recurring question by lot of people interested in the business. Try not to miss the point, you can start a smaller than normal bakery for with a low as a hundred thousand naira or even lower, however be certain it probably won’t go past the name and level.
In starting a bakery in the country, you will require at least ₦500, 000 to ₦700, 000 for a medium sized bakery including equipment and as high as ₦6 million, for a large scale bakery. This is contingent upon the size and the type of the bakery setting.
It is really hard to make a precise estimate of the amount you will spend when setting up your bakery. This will be depending on your own setup and the type and size of bakery you are looking for. From the above, we highlighted the significant things you need and the means you need to take when starting a bakery business.
In view of past experience of some people in the business, you will require at least ₦700, 000 to begin a bakery business in Nigeria. All things considered, one requirements to have between ₦1,000, 000 – ₦5,000,000 relying upon the size of the business. This is the overall estimate of starting the bakery in the country.
With having knowledge of the cost of starting a bakery business in the country, it’s insufficient to have that plan to begin the business. Typically, this kind of business requires proper arranging and setting up of right systems, remembering putting the perfect things in place at the perfect time.
Beginning a bread shop is certainly not something troublesome to do. Additionally, the process involved is easy to carry out so far you are not oblivious of what you are doing. Bakery business is a best one and a consistent money-spinning venture that can undoubtedly make one a tycoon.
Prices of Major Bakery Equipment (2023)
Here are the current prices of some of the important equipment you will need in the bakery business:
- Deck Oven (1 pack) costs ₦900,000 – ₦1,000,000
- Dough Mixer (1 sack) costs ₦1,200,000 – ₦1,300,000
- Dough Mixer (25kg) costs ₦450,000 – ₦500,000
- Tabletop Slicer costs ₦250,000 – ₦300,000
Steps on How to Start a Bakery in Nigeria
Let us now look at the process involved in starting a bakery in the country. This will incorporate the assessed cost of beginning an appropriate and standard bakery in Nigeria. Here is the rundown:
Step 1: Analyze the Business
This is an important thing to do before entering any business. It involves having a plan of the industry. This is the place where the work begins – how you need your bakery to be, the size, the process, the methods for getting the capital (on the off chance that you don’t have as of now) and choosing the type or niche you will be operating. It includes a great deal of interesting points including the location of your bakery and how you plan on running it for a long time.
Step 2: Have a Business Plan
Like most other business, the bakery business needs an good business plan. This is the part you put your arrangements in a composed structure. We won’t harp such a huge amount on this in light of the fact that the initial segment covers most subtleties that should be engaged with the field-tested strategy.
Step 3: Get Registered
Now, your intended bakery should be enlisted with the concerned public agencies and organizations. Doing this registration will make you to be an official member of the organization and as well register your bakery. Since you will likewise be managing what people will eat, you should be enlisted with NAFDAC.
Step 4: Secure a Good Location Close to Your Market
On the off chance that you will be doing the bakery business, you need to pick a remote location that is near the target market. Normally, it is hard to gauge a cost for the location. Costs rely upon the the area and other main considerations. This has made the cost of location to be varying.
Step 5: Recruit Employees/Workers
Regardless of whether you will be engaged with activities, you will require the service of laborers. Contingent upon how large the bakery is, you will require at least 5 to 10 laborers. You should simply go for irregular laborers since you need to reduce expenses, for a beginning, go for experienced specialists that will ensure productivity.
Step 6: Get the Needed Equipment
Bread shop requires some important equipment that are vital for the operation. This includes the machines, cooking appliances and the machines.
Step 7: Get Started
Finally, you have got the bakery set! Now this is the place where the work starts.
On the off chance that you want to start the bakery business, at that point you have know what will cost you to start the business. Truly, starting a bakery doesn’t come modest, and they are among those business you can venture into and anticipate a good generated revenue. This article highlighted the cost of starting a bakery in Nigeria. This will help you to know what to budget for in this business.