Tips on How to Start a Petrol Filling Station Business in Nigeria
Nigeria no doubt is one of Africa biggest country in terms of size, population, and ethnic groupings. As a result of this development, there is always a tendency of heavy traffic as a result of transportation of people and goods from one place to another.
This movement of people and goods has created a lucrative opportunity for wealthy Nigerians to invest in petrol station business. Since vehicles cannot move without petroleum, therefore, petrol business becomes a good business to operate.
This business needs a know-how and detailed local knowledge as to run it successful. However, those who want to operate a petrol station in Nigeria may follow the guidelines explained in the step below.
It is always good to plan before you start any business as this will explain the likely things you expect to see and the one’s you are expected to do. Your plan will include the site of the business, architectural drawing of the building plan, the source of fund and how to employ workers. A well-articulated business plan will guide an investor to be successful in the business.
The location of a fuel station determines the daily sales, therefore search for a site where a lot of vehicles pass through. For Example, a filling station located on a highway or close to a busy road will be patronised more the one located inside the streets or in a lonely part.
Having chosen a nice location, employ an architect to draw the plan and builders to construct the fuel station. Make sure quality materials are used in the construction.
Employ a manager and sales attendants who will be managing the fuel station on your behalf. Also, employ security personnel(s) who will be guarding the fuel station.
Look for genuine suppliers of petroleum products. It is good to start off with the original product so as to attract and maintain your customers. Don’t buy petroleum products from illegal dealers or else it could kill the image of your fuel station.
You have to register your fuel station and pay your tax to relevant government agencies.
Open an account with any of the commercial banks in the city. This is to enable the manager pay in money realised from sales as soon as possible on day to day basis.
Make sure you have fire extinguisher stationed in strategic places. Employ a safety officer to teach your workers how to operate or handle fire safety and other necessary security information.
The business of constructing a fuel station is very expensive; however, one with the actual knowledge of how to manage it makes enough profit at the end of every business cycle.