How to Start Building Material Business in Nigeria (2023)
The building materials industry is highly prosperous in Nigeria for a variety of reasons. There isn’t a day in Nigeria these days when people aren’t building new houses. Every day, every component of the construction materials is required. All of these people and objects are required for the construction of houses, including bricklayers, roofers, and building materials suppliers.
Are you considering launching a building supplies business in Nigeria? Sure, you’re enthusiastic about selling building materials and you appreciate the concept of the firm. In this article, we’ll go over all you need to know about the Nigerian construction materials industry.
HOW TO START BUILDING MATERIALS BUSINESS IN NIGERIA
Are you considering launching a building material enterprise? You only require a starting point at this point. If you follow the procedures below while starting your own building materials business, you will be successful.
STEP 1: CONDUCT A MARKET SURVEY
The first stage in selling building materials in Nigeria is to do a market survey. The market survey for your construction materials business will tell you what type of business you should start.
The market survey will assess whether you are qualified to operate in the entire construction materials industry. It simply specifies the type of construction materials you intend to sell.
STEP 2: MAKE A BUSINESS PLAN FOR YOUR BUSINESS
A building material business plan will be required for your enterprise. The sole exemption is if you are selling building supplies for a specific period of time, such as 0–4 years.
The business plan assists you in comprehending the building materials industry and determining how to expand the business in a short period of time. Your construction materials business plan will also help you figure out what kinds of construction materials businesses you can start in Nigeria.
Use some business plan templates to help you write your construction materials business plan. You may either look for them online or pay a professional business plan writer to do it for you.
STEP 3: GET YOUR CAPITAL
The budget for your construction materials company is crucial since it influences the extent of your business. This is dependent on the type of building materials business you want to start in Nigeria. Either a large or small sum of money is required.
Whatever capital you require, you must obtain it either via personal savings or by enlisting the help of family and friends.
The funds will be utilized to lease or rent land and purchase the construction supplies in which you will sell in the first round.
HOW MUCH CAPITAL IS NEEDED TO START BUILDING MATERIAL BUSINESS IN NIGERIA?
Many individuals wonder how much money is required to start a building materials business. Let’s get this out of the way.
In Nigeria, you’ll need at least ₦500,000 to establish a building materials firm. However, if you have additional money to put into the firm, you can put more money into it. Overhead expenses will include things like a shop, money for land rental, and other incidental costs.
STEP 4: RENT OR LEASE AN AVAILABLE LAND
Following the acquisition of the necessary funds for your building materials business, the next stage will be to rent or lease the land required for the operation.
Absolutely, you’ll need free space near an express road today where you can find your customers or have your customers find you.
Building materials take up a lot of room, thus a shop will be too small. When looking for land for your building materials business, don’t think about availability or alternative low-cost options.
You must also think about the security of your company, the safety of your consumers, and the security of your items.
You don’t want to be selling building materials in a neighborhood where armed robbers and cults battle on a daily basis.
STEP 5: BUY BUILDING MATERIALS
When it comes to purchasing building supplies, you have two options. You can either purchase them at a local construction materials market or directly from the building materials makers or distributors.
It all depends on your preference and which of these alternatives is the most convenient for you. However, I would like you to be aware that purchasing building supplies from manufacturers costs more than purchasing from other suppliers of building products.
You can even have your building materials delivered to your selling location after purchasing them from any of these options.
You can then take stock or inventory of the building supplies as soon as it is delivered to you. This is to ensure that it is complete and in good working order.
STEP 6: START SELLING BUILDING MATERIALS
If your location is visible, selling your construction materials should be simple. Make doubly sure your selling location is close to a major highway. The next stage will be to go out and attract clients who will come to buy from you after ensuring that you are adequately positioned. How does one go about doing that? The following paragraph will go through everything in great detail.
STEP 7: ADVERTISE AND MAKE YOUR BUSINESS KNOWN
Getting clients is one thing; keeping them is quite another. Try to avoid losing consumers as much as possible, especially in the start of your firm. To keep them loyal to you, you might give them discounts on a regular basis and help them in any way you can.
Online or internet advertising is becoming one of the most popular channels for meeting potential buyers for your construction supplies. All you have to do is spend money on advertising on social media or on blogs. And as a result, you will begin to receive consumers.
Investing in the building materials company is currently a guaranteed approach to develop a consistent income business in Nigeria. And besides, the construction of houses never ceases, not even for a single day. Unlike so many other types of enterprises, the construction materials industry is not hampered by items at any time or season. The company has been in operation for about a year.
Selling building materials will swiftly propel you into the entrepreneurial sphere if you have a strong business acumen. As a result, take your business seriously and make sure you have everything correctly. We included a step-by-step guide to help you get started in the Nigerian building materials business.