How To Start A Phone Selling Business In Nigeria |Small Business Ideas
Today, you and I will quickly take a look at the topic “How To Start A Phone Selling Business In Nigeria |Small Business Ideas”.
This has become very necessary as a result of the rate of unemployment in the country today. As a result, several individuals have been searching online for different topics of which entails how to start a business with small capital within the range of a million naira or less.
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Nonetheless, you shall get all the information you have been searching for right here on this blog.
How To Start A Phone Selling Business In Nigeria
Every day the world keeps progressing in a lot of aspects especially In the technological aspect.Technology get advanced and it is expected that a good amount of people if not all of us humans want to get in touch with these new techie updates, but most of us are prevented mainly by our location and also the cost, distance also increases the cost, that aside.
In the technological aspect our focus would be on phones and not just about them but starting a phone selling business in a country like Nigeria and thus making the techie dreams of most people come to pass, bringing these new advanced phones to their reach and also creating income for yourself.
Firstly before you begin to think of starting your phone business you have a fundamental idea on how to go about it… Your business idea is starting up a phone selling business in your country Nigeria.
Having noted that you have to consider the rules or levels or steps to go through before emerging at your goal, you should know that every business didn’t start without insights and plans so you have to begin by noting what it means to start up a business in Nigeria
How To Start A Phone Selling Business In Nigeria | Points To Note
The question will be how do you get prepared? Your preparation starts by knowing what you want to achieve from your phone selling business.Know that starting up a business in Nigeria is not an easy task so you have to be strongly-willed at what you plan on achieving in the future and work hard at getting to it, prepare yourself for what failure might bring and make up your mind to succeed in the face of failure and competitions
Have A Business Plan
Always operate with a business plan. It, therefore, means that you must have a good business plan, a good business plan acts a reference point you can return to anytime in your business though some might say it’s just a phone selling business what would you need it for, but it necessary, without a good business plan you would not be granted loan from a bank when you will be needing capital, business plans also help you to concentrate on what you aim at achieving
Understanding the market
Every business has an inside secret with which when you know them your business becomes even more successful than it did before you knew them, without your understanding of such secrets you May never get to the pick of your success, so before jumping into your phone selling business you need to have a complete and good understanding on the fundamental system of the market.
When you finally do, your chances of becoming a success in your phone selling business will increase, understanding the business secrets entails on you becoming an insider in the market.
Becoming an insider includes going on research, knowing about your competitors, your customers and how they would want to be served, who is on the lead team in the market, what the lead team did or are doing that got them to that point, what your chances of survival will be.
This is a very important step for your phone selling business when starting up your phone selling business where would your location be in?
Would you site it within your neighbor hood, or are you going to site it in an industrial area? are you going to isolate yourself from the crowd by building your own brand in a specially selected location? , or would you operate from the center of trade or commercial Places in Nigeria.
If you would want to deal with general merchandise in Nigeria you can consider siting your phone business in states where they are more opportunities like Lagos for instance. In places like mile12,Lagos island, oshodi, tabs etc, Aba, trade fares, or if you want to do it within your state site it within a location that is opened to buyers, easily accessible, in places where you could get good customers.
Register your business
If you want to build a successful phone selling business that can stand the test of time it is better advice that you register a business name or factor, it will be cost pointer as a short-term plan.you need to register your business in Nigeria with the corporation that deals with various businesses to allow you operate your phone selling business legitimately in Nigeria
Capital and how to get capital to start up your phone selling Business
Before you make up your mind to start up any business at all you should have a procurement for the necessary capital to launch the business at least. Financing your business can often be the most challenging affair faced by various entrepreneur, but they ways in which you can get the source for start-up business capital, it will mostly depend on the magnitude of the business.
If you don’t have the capital for your business, you mY either resort to borrowing from friends or from the bank, before borrowing from the bank be cautious enough not to begin your phone selling business in the wrong Foot of debt.
You can also look for leverage.
One of the fastest ways to grow in business is to leverage the structure of businesses that are already well established, leverage will help the growth of your business. Apart from getting a Bank loan leverage can be in form of getting credit line from suppliers, getting contracts etc.
Get a good team
Development of a winning team is a critical effect to business success, and it applies to every business whether small or large scale businesses, especially for the start up, a good real with determining if a business will or will not survive for the first years of your phone business establishment.
It is difficult to get a good team but it is not impossible, choose your team wisely, pick based on interest on the growth of the business, choose people who are business inclined to work with you and move the business to a higher state, then start up your business.
The Type Of Phone(s) In Demand
Consider the type of phones in high demand and how you can get it at a cheaper rate into Nigeria
Advertise by creating an online market, telling your friends first about it and through will tell other persons. Create ads and place it on popular sites that people visit to create a physical market too.
Bring new stock phones with good quality to Nigeria
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Also, do research on recent updates on phones produced in different countries, get reports on the phone system how it works what version it is, cost, how to get it at a lower currency rate and how to import it before other phone selling markets, how to make it available to customers
Have a way of importing these phones into the country
Have a good relationship with various phone manufacturing industries, create an avenue with some phone industries whereby they are reductions promo’s for generous customers and even those who buy little during festive Periods and so on.
That’s the much I can take on the topic “How To Start A Phone Selling Business In Nigeria|Small Business Ideas”.
However, if you need any more information concerning this, do not hesitate to drop your questions in the comment box.
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