As of now in Nigeria, venturing into the building material business is a surefire way to establish a steady income at any time of the year. After all, the building of houses never stops, not even for a day. Unlike other businesses, the building materials business is not that type that is hindered by things, any time or period of the season. The business is around the year venture.
The way and manner people are building houses and other landing properties can never be jested with as such building material sells really fast and those that capitalize on the business are earning massively.
How to Start a Building Material Business in Nigeria
Now, if you properly stick to the below steps while starting out your own building material business in Nigeria, the success is all yours.
1. How Much Will it Cost to Start Building Materials Business
While there is some business startup that requires no capital investment, building materials require some amount of money if you really want to establish a regular stream of income in the business. The question is then, how much will it cost to start a building materials business?
Many have asked if I want to start, how much do I need to start a building materials business? as much, as that is a varied question, it shouldn’t discourage you from starting this lucrative business today. If you don’t have much on you, you can source it from family and friends and after your first sales you can pay them up in the installation as the return on investment in the Building material business is high and the turnover time is short.
Some times ago, there was this man in one of the major cities in Nigeria here who disposed of his motorcycle to start a building material business. As of now, the man is doing pretty well in the business and raking home ten of a thousand every day and living his dream life. He even had a car of his own a few months ago. This was a man whose poverty forced him to sell his belongings, but today he has made it big in this business.
2. Identify Your Preferred Niche
To start selling or supplying building materials business, it’s encouraged that you identify a specific area you are going to invest in. Decide if it’s cement or irons or planks or roofing sheets and nails, etc that you will be supplying.
This is very vital because the building materials business has many areas you can explore and it will be tasking and tiring for a single merchant to handle all of them with one finger at a time, hence, you will need to identify a specific area you want to explore and focus on it.
It’s obvious that houses, offices, stores, and the like are springing up in every corner of the major cities like Abuja, Lagos, Porthacort, and the likes every now and then thus, there will be the need for certain materials to aid the smooth construction of those buildings and that’s exactly where you will make your own sale and money.
Selling and supplying a building material business is a great business venture that you will never regret. At least, everyone wants to build a house, a place to boldly claim it’s his own. That’s why the business is lucrative and selling real quick.
3. Look for a Nice Location
If you have the startup capital on you and you have chosen a particular niche you want to explore in the building materials business then, the next thing in line is to look for a perfect area that houses your target audience.
Since there are varieties of niches in this business, each one of these niches has its own perfect location. So, your chosen niche will determine where you will set up your building materials supplying business.
For instance, materials like Cement, Block, Water Storex or Tank, equipment rental, etc are best located in a new and developing area because of the active construction works that will be going on while materials like Asbestos, Paints, wiring materials will thrive well in new sites.
4. Secure a Place
Having secured a perfect location for your business, the next thing is for you to look for a perfect place to settle down since you can’t run a building materials business in the street.
Looking for space or place to carry out the business is an important thing to consider before going into the business properly. Whether it is an open ground, office, store, shop, or warehouse this depends largely on your preferred business niche.
For instance, materials like planks, blocks, or irons don’t need to be kept in a shop, store, or warehouse. Albeit, you don’t need product storage still, you can get an office for hosting your clients. Read Also: 3 Bedroom House Plans – 6 Modern Designs
5. Meet With a Building Materials Business Supplier
You will need to meet with a supplier who will be supplying your products in your chosen area of specialization in the building materials business. Interestingly, there are suppliers for all kinds of building materials used in Nigeria so you won’t have a problem sourcing one.
Only strike a deal with a supplier whose terms and conditions wouldn’t affect your business. Ensure that the one you met will be able to supply you with the needed products on time and regularly. This is very important in the building materials business.
However, some suppliers wouldn’t mind supplying your products and you pay them after-sales if you proved to be our reliable and trustworthy retailer. If you are starting out with a little fund, this will be advantageous on your end.
6. Market Your Building Materials Business
While research proves that 80% of new startup businesses failed within the first 18 months of their establishment, and one of the reasons behind it is a lack of marketing. So, don’t commit the same mistake most building material merchants or dealers do by waiting for their prospective customers to come.
Market your business to your respected audience and let them know the varieties of products you have in your care together with the discount you are ready to offer them if any. Remember, there are plethora numbers of building material dealers out there, but reaching out to your customers is a nice way to boycott your competitors.
So, take advantage of marketing and let your building material business thrive well, only then will you see the desired outcome.
If you have a great entrepreneurial spirit, selling building materials will quickly pave way for you in the entrepreneurial world. Therefore, be serious about the business and make sure you get everything right. With these, the sky is just your starting point.