Comprehensive Guide On How To Start Quarry Business In Nigeria
Good day, and welcome to GoldenNewsNg once again! If this is your first time visiting this informative blog, we sincerely appreciate your presence. At GoldenNewsNg, our goal is to keep our readers informed about the latest trends, empowerment opportunities, business updates, daily guides, and so much more. Today, we’re diving into a topic that’s essential for Business in Nigeria— How To Start Quarry Business In Nigeria
Are you searching for a lucrative business idea ? Then Quarry business might be one of the profitable idea to venture into.
Incase you don’t know what a quarry business is , it simply involves the extraction and processing of raw materials, specifically natural resources like stones, sand, gravel, and other minerals from the earth. These materials are typically used for construction, road building, landscaping, and other infrastructure projects.
Wondering if Quarry Business is Profitable ? Yes it is ! With the population of the country and the numerous construction companies having multiple projects to execute, being a Quarry Business Owner providing raw materials for them will make you a lot of money.
Do you know Alinko Dangote one of the richest man in Nigeria is into Quarry Business ? and it is the bedrock of his cement factory ? You can now see how profitable the business is in Nigeria.
However, the fact that Quarrying is profitable doesn’t mean you should go into the business without getting adequate knowledge about it . Quarry business requires a lot of capital and if you do not have enough , it will be best for you to consider been a middleman.
As a middleman in the business, you don’t need much capital , you just need to link quarry business owners and those in need of it product and get paid or better still, build a trustworthy relationship with the business owners, source for those in need of quarry product, make them give you the goods on credit, deliver to buyers, then take out your profit after paying the business owner. However, being a quarry site owner pays more and if you have money to invest, it is best to venture into it.
Follow the steps below to start your own quarry business in Nigeria.
Draw up business plan
The first step to take while venturing into a new business is to draw up a business plan. so if you have decided to give this business a try, we would advice you to stat with drawing a quarry business plan. It will help you understand the direction of the business properly including cost requirement, profit, equipment to purchase, and so on.
Get required capital
As mentioned earlier, this business is capital intensive. To be honest, it would cost you millions of naira to start Quarry Business. Don’t freak out yet. if you know you don’t have enough capital , you can take a loan from the bank of any other organization
This is the only source we believe can fetch you the desired money you would need to kick start unless you have the money already.
Site Selection for Processing and storing
Once you successfully gathered the necessary capital for your quarry business, the next important step is finding the right location. Since quarrying is all about extracting specific minerals, it’s essential to choose a site where the mineral you need is Plenty. This means buying or leasing land that has exactly what you plan to mine and sell.
For instance, if you’re aiming to work on limestone, picking a site that doesn’t have limestone would be a waste of time and resources. In such situations, leasing might be a better option, as the site may no longer be valuable to you once you’ve extracted all the minerals.
Registering Your Business
To legally operate a quarry business in Nigeria, you’ll need to register it. Quarrying involves extracting valuable mineral resources, so the government enforces stricter regulations to oversee these activities.
You’ll first need to register your business with the Corporate Affairs Commission (CAC). Then, you’ll have to secure the required licenses from the Federal Ministry of Solid Minerals. Depending on where your quarry is located, you may also need to register with various state and local authorities.
Buying Equipment and Getting Man Power
Getting the right equipment is an important part of setting up your quarry business. Some entrepreneurs choose to secure their equipment before registering their business, but the order of these steps can be flexible. Keep in mind, though, that equipment can be expensive.
If you’re working with a limited budget, leasing equipment might be a good option. The type of machinery you need will depend on your budget, the size of your operation, and the specific minerals you plan to extract. For example, a granite quarry typically requires an excavator, granite crusher, pay loader, and dump trucks (also known as tippers). On the other hand, a sand quarry might only need an excavator and a tipper.
After securing the necessary equipment, you’ll need to hire a team to operate the machinery, perform manual labor, and handle administrative tasks. Since teamwork is crucial in this industry, building a skilled and cohesive team is essential for success.
Marketing
Starting a quarry business doesn’t guarantee that customers will come to you right away. Many potential clients likely already have established suppliers, so breaking into the market will require persistence and savvy marketing.
It’s crucial to actively promote your business and make sure people are aware of the services you offer. With determination and well-crafted marketing strategies, you can attract customers and carve out a strong presence in the industry.
