hello everyone both business men and none. pls i need your help and assistance. am new in vasline production and am about to produce my second barge. but my worried is (profit). i made very poor profit in my last time production. it seems like there is no profit in these vasline product or am the one with bad calculation? am into production smallest size of vasline which retailers are selling #100. my production (finishing cost ) of each vasline always fall between # 85-86, and i sold it at # 90 each. can you see that there is no gain left for me? pls i need you help and guideline how to do things right. thanks.

Kokoebapluse:
hello everyone both business men and none. pls i need your help and assistance. am new in vasline production and am about to produce my second barge. but my worried is (profit). i made very poor profit in my last time production. it seems like there is no profit in these vasline product or am the one with bad calculation? am into production smallest size of vasline which retailers are selling #100. my production (finishing cost ) of each vasline always fall between # 85-86, and i sold it at # 90 each. can you see that there is no gain left for me? pls i need you help and guideline how to do things right. thanks.

have you done market survey and have you done research of the profit margin of other producers? I mean how much profit they make

jeyselassie:
have you done market survey and have you done research of the profit margin of other producers? I mean how much profit they make

no sir. but i have done research on price and quantity of my product with my competitors. but i have not try to know how much profit are my competitors are making.

We don't quit! We stay to make it through! Now look critically into the production process you employed as well as the quality of your product. Do they meet the minimum standard?

2. Try to get into the market and ask questions on how well the product serves your customers.

3. Try also to find out if the middlemen (retailers) are selling it at the rate intended or selling it at a price deemed exhorbitant.

4. Finally, try creating awareness about the product. Find the nearest market and introduce the product.

May God bless your hustle.

I will comment later

psucc:
We don't quit! We stay to make it through! Now look critically into the production process you employed as well as the quality of your product. Do they meet the minimum standard?

2. Try to get into the market and ask questions on how well the product serves your customers.

3. Try also to find out if the middlemen (retailers) are selling it at the rate intended or selling it at a price deemed exhorbitant.

4. Finally, try creating awareness about the product. Find the nearest market and introduce the product.

May God bless your hustle.

thank u sir

Kokoebapluse:
hello everyone both business men and none. pls i need your help and assistance. am new in vasline production and am about to produce my second barge. but my worried is (profit). i made very poor profit in my last time production. it seems like there is no profit in these vasline product or am the one with bad calculation? am into production smallest size of vasline which retailers are selling #100. my production (finishing cost ) of each vasline always fall between # 85-86, and i sold it at # 90 each. can you see that there is no gain left for me? pls i need you help and guideline how to do things right. thanks.

LOL

Do you actually want to be gaining half of what you invested at once?
Business is not actually like that but with time, things will improve.

You must have made mistakes in some areas as a beginner but with time you will improve in those areas.

Most of the businesses now,
the profit margin is small but your production capacity and turn up makes you rich.

Keep pushing bro and think less of profit now as a beginner with time everything will be arranged.

uchman:


LOL

Do you actually want to be gaining half of what you invested at once?
Business is not actually like that but with time, things will improve.

You must have made mistakes in some areas as a beginner but with time you will improve in those areas.

Most of the businesses now,
the profit margin is small but your production capacity and turn up makes you rich.

Keep pushing bro and think less of profit now as a beginner with time everything will be arranged.

thank you sir

Kokoebapluse:
hello everyone both business men and none. pls i need your help and assistance. am new in vasline production and am about to produce my second barge. but my worried is (profit). i made very poor profit in my last time production. it seems like there is no profit in these vasline product or am the one with bad calculation? am into production smallest size of vasline which retailers are selling #100. my production (finishing cost ) of each vasline always fall between # 85-86, and i sold it at # 90 each. can you see that there is no gain left for me? pls i need you help and guideline how to do things right. thanks.

I think what you need to do is to improve on the marketing so you can push more of the product into the market and therefore increase your sales volume...that is assuming the product you have is of good quality

Kokoebapluse:


no sir. but i have done research on price and quantity of my product with my competitors. but i have not try to know how much profit are my competitors are making.

that's the first thing you should have done. You do mapping even if you're a smalls scale producer. By generalizing I reckon you're a 4th tier brand. What really determines sales is the profit coming into the wholesalers and retailers pocket. If it's better than the other products in your tier and your quality very good then they will push sales for you. You need to research your competitors because from my observation of the market you're competing with imported brands through cotonou apart from vaseline and the other likes. You need to find out how they source their raw material to know how to cut costs and increase profit. Forget promotional activites and all for now as activations shouldn't be your focal point if your pricing isn't appealing and better than your competitor. Work on your carton price and do market survey to check rebates your competitors are giving. You can compete from there and make sure your cream is nicely perfumed too. Your carton price really is the main key to you selling as if it's not favorable to wholesalers and retailers they won't advertise you to customers. This is the best time to really sell as many customers are looking for cheaper brands to run to due to the current effect on dollar on the economy.

jeyselassie:
that's the first thing you should have done. You do mapping even if you're a smalls scale producer. By generalizing I reckon you're a 4th tier brand. What really determines sales is the profit coming into the wholesalers and retailers pocket. If it's better than the other products in your tier and your quality very good then they will push sales for you. You need to research your competitors because from my observation of the market you're competing with imported brands through cotonou apart from vaseline and the other likes. You need to find out how they source their raw material to know how to cut costs and increase profit. Forget promotional activites and all for now as activations shouldn't be your focal point if your pricing isn't appealing and better than your competitor. Work on your carton price and do market survey to check rebates your competitors are giving. You can compete from there and make sure your cream is nicely perfumed too. Your carton price really is the main key to you selling as if it's not favorable to wholesalers and retailers they won't advertise you to customers. This is the best time to really sell as many customers are looking for cheaper brands to run to due to the current effect on dollar on the economy.

wow. thank u very much i really learn a lot from you thank you. are you into cosmetic production?

Kokoebapluse:


wow. thank u very much i really learn a lot from you thank you. are you into cosmetic production?

no I am the marketing manager of a brand but I do thorough research across board of most brands.

Kokoebapluse:


wow. thank u very much i really learn a lot from you thank you. are you into cosmetic production?

by the way what state is your brand? I reckon you are doing maybe 1 or 2 markets for now at the moment. And do you have any sales reps?

jeyselassie:
by the way what state is your brand? I reckon you are doing maybe 1 or 2 markets for now at the moment. And do you have any sales reps?

i based in kaduna state. yes i always patronise retailers shop and not that too turnover because they re still expecting me to reduce my price to my competitors price. but if i try it i will lose all my money. that is why am trying to figure things out. to be honest i dont know what to do anymore.

Kokoebapluse:


i based in kaduna state. yes i always patronise retailers shop and not that too turnover because they re still expecting me to reduce my price to my competitors price. but if i try it i will lose all my money. that is why am trying to figure things out. to be honest i dont know what to do anymore.

work on your carton price and also you need a working formula they can key into. For instance if you sell 1 carton for 1000, you can tell them on every 20 cartons they get a free carton plus give a souvenir like a soap plastic case and probably a plastic kitchen spoon for cooking. Something within the range of say 200 naira 300 naira in wholesale. Make sure you don't do it for too long oo say 2-3 months and also ask what they retailers will like. Are there hawkers of barrow pushers in Kaduna central market, if there are you can come into agreement with them on a special freebie so they can push the brand around the market. You can give them bibs or your product if they don't have. Retailers are like prostitutes always looking for freebies. Seems you don't have distributors in the markets hence you sell from a vehicle to the retailers and wholesalers i believe? Work on your carton freebie to enable them buy more if you do it will move naturally in the market.

Rebrand and sell Vasaliline+

instead of vasiline