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This step will help you understand the market dynamics and tailor your business plan accordingly. To identify the target market, consider the various sectors that use concrete blocks, such as construction companies, home builders, and contractors. Determine the size of each sector and their specific needs for concrete blocks.

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Idea #3: Non-Fungible Tokens: Image Source. It's the second most famous blockchain business ideas after cryptocurrency. The enhancement of online gaming amongst kids as well as teenagers is the new trend of today. Blockchain in the gaming industry functions with non-fungible tokens (NFTs).

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14 - Watch out for your own best interest. Starting a business means many more demands on your time. You're less likely to succeed if you run yourself ragged and don't look out for your own personal needs. Maintain balance in your life, and your little-business-that-could stands a better chance of flourishing.

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Check out the current prices of cement here. 7. After making sure that the whole material and equipment are set, you will then have to start producing quality blocks through mixing a proportion of cement, sand, and gravel with water. Also, note that the blocks come in different sizes like 9 inches, 6 inches, or 4 inches.

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Businesses they can start with small amount of money. Block industry is one of such ventures. Given the current rate of inflation, with an investment of N1,200,000 or even less, you can set up a manual block industry, using a manually operated machine. This is assuming you already have a vacant land.

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Block Industry Business. Block making refers to the mixture of powdered cement, sand, gravel with water in a way that produces a light gray colour with fine surface texture and strength after sun drying. It began with the need to satisfy builders and save them the stress that comes with building.

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Block industry business is an increasingly viable and lucrative business, especially with new inventions like interlocking, and different kinds of block desi.

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The start-up capital will be mainly invested into securing a good location, purchasing of equipment, purchasing of block making materials, registration etc. The following equipment and facilities would be needed for a block industry; Block Moulding Machine: For moulding the cement mortar into blocks.

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This resilience, coupled with the rising demand, makes it an opportune time for individuals with a vision for entrepreneurship to invest and start a successful block industry business in Nigeria. A piece of block costs less than 500 naira and the production cost of just one block is below 40% of the actual price, simply put if you sell your.

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Once the whole material and equipment are set, the next thing is to start making the blocks. This requires mixing a proportion of cement, sand, and gravel with water. There's a certain number of blocks that can be made from a bag of cement; about 35 - 40 (9 inches), 50 - 55 (6 inches), and 60 - 65 (4 inches) blocks.

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Develop a business plan including financial projections and marketing strategy. 6-8 weeks. 1,500-3,000. 3. Secure funding through loans, investors, or personal funds. 2-3 months. 25,000-100,000. 4. Obtain necessary permits and licenses for manufacturing and selling concrete blocks.

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If cement is used every day to produce 500 o inch blocks, 10-12 bags are required. If the blocks are sold for N160, 500 blocks will sell for 80,000, and the total expenses that will produce that number, including laborers' wages, is 30,000 to 40,000. When you subtract that from 80,000, your daily profit will be around 40,000.

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So, because the industry can be started at different levels, the cost or amount of money required to start block making industry in Nigeria is relative. However, for starting the business on a small scale, it would require minimum of N3 million to start and run a viable block industry business in Nigeria. But larger scale block making industry.

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The step-by-step guide on how to start a block industry business in Nigeria. 1. Write a Business Plan. Block business in Nigeria is a capital-intensive business. This is why you cannot afford to take risks in the business. If you are really serious about the business you need to write a business plan and do your feasibility report.

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On average, you should budget between ₦300,000 and ₦1,000,000 to kickstart your block industry business in Nigeria. Step-by-Step Guide to Starting a Block Industry in Nigeria. Craft a Business Plan: As block business is capital-intensive, it's crucial to minimize risks. A well-structured business plan and a thorough feasibility report are.

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Blockchain for business is built on a shared, immutable ledger that is permissioned to increase efficiency among trusted partners. This enables businesses to transact more smoothly and efficiently. Blockchain for business is valuable for entities transacting with one another. With distributed ledger technology, permissioned participants can.