How to Sell an Existing Shop Faster in Nigeria

How to Sell an Existing Shop Faster in Nigeria

Most Nigerians prefer investing in fixed assets that putting their money in the bank. This is because fixed assets appreciate rapidly unlike money in the bank which generates little or no interest.

Shops investment is one good business that wise merchants should take into consideration. This is because Nigerians are largely into business and will continue to need shops where they will display their goods or offer services.  Moreover, Nigerians believe in investing in fixed assets due to losses unleashed to the people by failed banks. 

Selling a shop in Nigeria can be rewarding to people who know the right thing to do in order to sell the shop at a higher price. However, people who are ignorant of what to do may find it difficult to sell their shops. Since wisdom is a free gift from God; it will speak well if we educate Nigerians on the right steps to take when trying to sell their shop(s).


Find out the cost of shops in the area

The first thing to do when trying to sell a shop in Nigeria is to ascertain the cost of shops in that particular area.  This will help you to know the price that you will sell you shops. It does not speak well for you to fix the price off-hand as you may likely sell below the worth of the property or you fix an outrageous price that will scare buyers away. Fix your price a little higher than your selling price because customers will like to negotiate the price.


Inform your tenants

Don’t forget to inform your tenant of your intention to sell your shop if you have one. Some markets spell in their constitution that before a shop owner can sell his shop to another person order than the tenant, he must have given the tenant enough time to buy the shop. It is only when he failed to pay within the stipulated period that you have the right to sell to other persons. Your tenant will likely buy your shop if he can raise the money because renting another shop in a different location will not only cost him money but will also make him lose customers.


Inform neighbours in the same line 

You need to communicate your desire to sell your shop to people whose shop is in the same line with yours. They might be interested to buy your shop in order to expand their shop. Competition starts once you inform the people in the same line of your intention to sell your shop. Some of them may not have money to but might call their person(s) to come and buy the shop.


Hire an agent

Communicate to an agent your decision to sell your shop. He will meet a lot of persons who can afford to buy your shop at your own price. However, bear in mind that you are going to pay him agency fee if finally, he was able to convince a buyer.

An ideal business environment in Nigeria contains shop where businessmen display their goods for potential customers. Making enough money from selling your shop entails you have to critically examine and take the step that would most likely help to sell at a high rate.

These directives if adhered to will make people sell their shop at a higher price and make a lot of money and can even invest by buying another new shop and replicate the same method.

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