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 houses never stop, not even for a day. Unlike other businesses, 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.
All this is due to the boom and active dealings in the real estate business in the country.
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. Capital Investment
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.
If you don’t have much on you, you can source for it from family and friends and after your first sales you can pay them up in the installation.
Some times ago, there’s 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 thousands every day and living his dream life. He even had a car of his own few months ago. This was a man that poverty forced 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 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 likes 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 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 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.
5. Meet with a 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 for one.
Only strike a deal with a supplier that their terms and conditions wouldn’t affect your business. Ensure that the one you met will be able to supply you with the needed products in 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 at your end.
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 lack of marketing. So, don’t commit the same mistake most of the 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.