Last Updated on September 10, 2022
The thing about being the middleman or the retailer is, that you gain profits in rations. Although being the manufacturer or the producer comes with its price, like it demands high capital investment, marketing strategies, plans, and huge risks, at the end of the day, it’s always worth the risk.
Are you looking forward to starting a manufacturing business in 2023 and not sure which manufacturing business idea to comb up and kick start? I hope this list settles your heart on which one to go for.
Table of Contents
15 Lucrative Manufacturing Business Ideas
1. Bakery
This is a much-patronized business everywhere in the world. It’s a very lucrative and easy-to-start manufacturing business idea because the goods needed to begin the business are sold almost everywhere and you do not need to worry about any of the materials running out of stock in the market.
2. Automobile parts manufacturing
This is a manufacturing business idea in the automobile business industry that demands a low-cost capital investment to begin. You can start by producing vehicle spare parts and other tools.
3. Biscuit Making
Who doesn’t eat biscuits and cookies? I still do, even as an adult. This is one of those manufacturing business ideas you do not need to about who will patronize you or who wouldn’t plus you need a small amount of capital to start and you do not need major licensing..
4. Hair Oil Manufacturing
Hair products are taking over the market, men, and women desiring a particular texture of hair and lots of other essentials, if you are good at making hair products then this manufacturing business is all yours. All you need is to produce a good hair oil that provides an embalming and soothing effect to the scalp with a little blend of nice scenting fragrance and the market is yours.
5. Banana Wafer Manufacturing
This is one of those convenient foods people pull up in cars to purchase plus you can sell them in hotels, restaurants, bars, schools, on the streets, and in homes. This requires low capital to start with high profit at the end of the day.
6. Detergent Powder Manufacturing
This is another very easy-to-start manufacturing business idea but the funny thing is most people are unaware of how easy it is to produce a detergent powder. You can venture into it as an entrepreneur and hope to make a massive profit out of it.
7. Candle making
The candle is still widely used all over the world, even with the advent of electricity and generators, a large number of homes still use candles so you can start up. It requires low capital to set up and gives you enough time to take care of the other issues, you might consider this as one of your manufacturing business ideas for 2023.
8. Exercise Book Manufacturing
I can bet you didn’t think about this. Exercise books were what we used as kids in kindergarten, primary, high school, and university, I think this is one of those manufacturing business ideas that will sell very fast plus if you are creative, you should know how to design the covers and the texture to the give the sheaths.
9. Chocolate Making
And we still love chocolate no matter what. You can start by making chocolates of different sizes, shapes, and flavors to captivate customers and you might have people to supply them to, earning your profit as a producer.
10. Packaging Box Making
The best part about this manufacturing business idea is that it is easy to start, with low capital. You may only need to recycle the unused boxes but you need to make your packaging box attractive, companies are after the durability and creativity behind it, I guess it’s not called a packaging box for nothing.
11. Paper Carry Bags Making
This is one of the easiest if not the easiest manufacturing business idea. Paper bags are essentials used in shops, companies, supermarkets, by bakers, dry cleaners, etc, you could start with the newspaper laying on your table.
12. Cotton wool Buds Manufacturing
Cotton buds are very important items we use every day. They are made of a wad of cotton at each end of a short spindle. If you have a machine, you could venture into this business, it demands little to nothing to start.
13. Iodized Salt Manufacturing
Salt is essential in food preparation, baking, and tons of other things, you can convert common table salt to iodized salt by treating it with potassium iodate 50 to initiate the right proportion of iodine for the benefit of those with goitre, which is the deficiency of iodine in people.
14. Jam and Jelly Making
As nutritious as they are, only about a handful of companies produce them and if you are stunning at making stuff like this, then you can start up your jam and jelly manufacturing business, you can start small then mesh up with time.
15. Leather Bags and shoes making
This manufacturing business idea will produce a high turn-up of customers if you are good at what you do. Ladies and men love quality leather bags and shoes to match up, all you need is knowledge of the latest trends, simple hand tools, and equipment, and you’re good to go.