How to Start or Operate a Building Material Supply Business in Nigeria
Building material is one of the lucrative businesses in Nigeria. This could be attributed to series of developmental projects initiated by various governments. Government developmental projects such as the construction of estate, road, pipe borne water, electricity and more revolve around building material.
As a result of this, most Nigerians in this business do make a enough gain to call it a lucrative business. However, not everyone in the business makes a profit on this business venture. The difference between the person who makes a profit and the one who does not is in how they handle their business transactions.
Supplying building materials to companies is tasking and involves enough capital and good experience.
Here are directives on how to operate a building material supply business in Nigeria and other African countries.
Draw a business plan
It is always good to draw a business plan as this will serve as a guide to the business activities. A good business plan should spell the size of the business, how to raise capital, where to purchase the goods to be supplied, target companies, how to reach out to them, how to recover your money after supply and so on.
Concentrate on a particular area
Building material business is vast. Hardly can any dealer sell all kinds of building material no matter how wealthy. There is a need for you to concentrate on an area so that people will know you with it. This does not mean you cannot buy some other ones from your colleges and supply when needed. Focus on a target area as a “jack of all trade will always be a master of none”.
Locate your business
Remember that the location of your building material business to a reasonable extent determines how successful it becomes. If you are not located in a building material market, consider locating your business in a new developing site as developers will prefer patronising you than paying transportation to patronise someone that is far from the site.
These days, because of the introduction of mobile phones and information communication technology people hardly travel out to purchase goods. The trend is locating a supplier through local business directories and then call to place orders for goods required while you pay online or to his bank account depending on the business payment method. This has greatly saved the risk occasioned by constant travel.
Target your target customers
For one to succeed in life, he must do something extraordinary. There must be something unique about what you are doing. Since there are thousand and one dealers of building materials, it will speak well if you make a move to look for construction companies and other people who will require building materials. Meeting them on their site and reaching a better deal is a step in the right direction. Ensure you supply the right materials to them so that trust will be built and payments will be made promptly.
Building material business has continued to be lucrative over time, unlike some other businesses that have seasons. Therefore it is necessary to make plans for your business so that you can stand out at all time.