Operating in a high demand-driven market where Raphgate’s Horse Paints is in competition with over 4,000 paints brands, Raphael Atere, the founder, and CEO of Raphgate Chemicals Nigeria Limited is adopting an innovative business model which attracts loyal customers through consistent, high-quality products and services delivery.
The vision and mastermind behind the company were the identified opportunities in the industry’s value chain to meet the high market demand from residential, commercial real estates, and auto technicians; thus, proffering solutions to the challenges within these sectors through the supply of high-quality paints.
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While narrating his foray into business in an exclusive interview, Raphael, who has a degree and teaching background for years in mathematics said “he founded Raphgate Chemicals Nigeria limited as a company after many years of work experience with a paint manufacturing company. During those years he identified some loopholes as business opportunities existing within the industry in Nigeria. Meanwhile, anyone with vast knowledge about the industry can venture into the production and marketing of any type of the over one hundred different paint categories”.
Having acquired knowledge on the fundamentals of entrepreneurship and administration of a business from the Lagos Business School (LBS), Raphael deemed it fit to venture into the production and marketing of a paint brand with name, “Horse Paints” which comes in the form of:
- Horse emulsion paints,
- Horse texture paints,
- Horse Auto paints,
- Horse gloss paints,
- Horse industrial paints,
- Horse protective, etc. with sales of paints chemicals and offering painting services.
Speaking on the challenging harsh economic and business environment, it was critical at the infant stage for the startup company, where getting customers became very challenging. That, notwithstanding, perseverance and strategic planning have always been the motivation to get going at that point where products supplied to customers were not backed by instant payments and later had some debts written off as they were bad for business.
However, with referrals from the Lagos business school, Raphgate Chemicals has since enjoyed both internal and external economies of scale from various spheres of the economy which includes the attraction of partnership with some major banks in Nigeria, partnership with suppliers of raw materials to the company and a value chain proposition that attracts customers and distributors to drive the company’s revenue books over the years.
Today, it is without a doubt that operating in an industry spurred on by a fast-growing economy, Raphgate limited has seen various positive developments within an economy hushed by poor energy supply, inefficient distribution network due to poor infrastructure but has found ways to stimulate growth for himself in an industry projected to be valued at over $400 million by the year 2020.
ABOUT THE COMPANY:
Raphgate Chemicals Nigeria Limited, a company established in the year 2002 but commenced operations three years after its incorporation as a private limited company under the Corporate Affairs Commission in the year 2009 and being certified same year by the Standard Organization of Nigeria. The company has been established to produce and market different types of quality paints with the brand name “Horse Paints” in the Nigerian paints market.