Building Materials Business Plan in Nigeria 2022 Sample
Do you want to go into construction business? Or say precisely building material business, then you are reading the right article. One thing I’ll assure our potential client is that the building materials business plan in Nigeria and feasibility study you will get from us is an up to date document that has relevant market related information that will help you go into building material business, further more our business plan can also be used in accessing bank loans or grants, those interested in a proposal can as well use the document.
Some of the relevant questions most interested persons ask as regards building material business comes as follows; what are the building material business ideas, how much will it cost or how much do I need to start a building material business in Nigeria, these and more are the more pressing questions you have people ask as regards to this business, one thing is certain and that is all the answers are well documented in our sample of building materials business plan in Nigeria. Some of the questions I will answer on this article will be a summary of what the business is all about, how lucrative it is and then a few things you need to get you started with your adventure;
the building material business is not really a saturated one considering the level of construction going on in most part of the country, without a doubt lots and lots of buildings are springing up due to the already established fact that Nigeria is the most populated black nation on earth with an estimated population of over 200,000,000 people (two hundred million people).
This alone should be a motivational factor to should push anyone into this line of business, without a doubt this has to be one of the most lucrative business, when you factor in the population growth rate in Nigeria and the need for more buildings, then you’ll understand why this business is one of the most lucrative business out there, the alarming part of this population growth discovery I Nigeria is that the population will continue to increase to an estimated 400 million (four hundred million) by 2050.
This discovery alone is an indication that the market for building material is there, hence the need for more people to venture in building material business. Even in most of the developed countries where their seem to have more structure are still construction and building houses, hence to solve the issue of accommodation in Nigeria, there is need to have more building constructed not just by the government, but also by individuals, by individuals I mean people who will be in the building material business, providing the needed materials for the construction.
I know one or two persons who are interested might back down because they feel there are enough people in that market trading, trust me more hands are need in that industry, there are always loopholes in every market all you need is to carry out a research in a particular need in the market before you set up shop. There are some market where a particular material is either not sold or not always available, in such cases you will need to travel to another state before you can get such material, here you can become the sole distributor of such building and construction material.
How To Start Building Material Business In Nigeria
Here are a few things you need to put in place before going ahead with your business set up;
– Get A Building Material Business Plan – I had to put this at the top of things you need to get started with this business, this is because knowledge is power, knowing your way around the business will help you to reduce cost of setting up the business, with this knowledge you won’t be cheated easily, hence the need to get a feasibility study on building material. The importance of a business plan cannot be overemphasized, it is when you venture into the business with a prior knowledge of the business and then you start recording losing that is when you will know the importance, by that time you would have wasted a lot of resources that would have been useful for other important things as it relates to setting up the business. The building materials business plan in Nigeria is more like a guideline on how to set up and run the business, it comes with a forecast of where the business will be in the future. A business gives you an idea of what you need in your business and the things you don’t need.
– Business Location – This is usually in the market for building material, there is a building material market in every state in Nigeria what you will do is to try as much as possible to get a shop in a very strategic area of the market, where you will be seen ahead of other competitors, you might be able to set up on the street because when people want to get building material, there are usually referred to building material market, hence the need to get a space in a strategic part of the market.
– Get Warehouse – Apart from getting a shop or say a business location, renting a warehouse is also important, here you get to store you goods, everything must not be at the shop, at times the shop is set up like an office, where enquiry is made, when business deal is concluded you can send a staff to bring the material from the warehouse.
– Get A Business Name And Register It – When you get to the market you will discovered that every shop there has a business name and they are duly registered at the Corporate Affaires Commission (CAC), select a good, simple and easy to remember name before you head to CAC for name registration. This will enable you not to get embarrassed by the government.
– Source for Supplier – Here you need someone with goodwill, someone who is reliable and will always supply you with quality building material. It has to be quality over quantity, you don’t want your business name associated with inferior building material, and your business might never survive the backlash that comes from such reputation.
The above and more are the things you need to get you stated with your dream of owning a building material business in Nigeria.