How to Start Electronics Business in Nigeria explains how to Start Electronic Business. Read, if you wish to start this business sooner or later.
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It is common knowledge that whenever a lot of people gather, there abound business opportunities. The same goes for the Electricity supply. Every time there is a power supply to your street or house, some people make money.
The truth of the matter is that you cannot have light in your house and do not want to play a musical instrument or something that is electrically operated.
With the advancement of technology, a lot of electronics have been produced. Ranging from households to offices, schools, corporate organizations,s, etc.
Now, before you venture into the business, we’d like to give a piece of advice which is ‘to narrow down your area of concentration, and don’t attempt to sell everything to everyone.
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How to Start Electronic Business in Nigeria
Here are the Guides on How to Start Electronic Business in Nigeria:
Become a specialist in one field of electronics
Become a go-to when it comes to particular electronics. But you can disregard the advice if you have all it will take to handle the business on its broad scale.
Before you start any business, the first thing you have to do is to go and learn the trade. Someone who doesn’t learn does not know. Don’t assume you know. It could be too risky for you.
Learn what works and what does not work for your chosen business. Electronic business is not an exception. There are people who are already in the business, especially the Igbo guys.
They know how far in the business, so either you go under direct mentoring or you ask them a lot of questions to better equip you for the business world.
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Electronic business requires suppliers
Who will be supplying your goods to you? The answer to this question is actually determined by the size of startup capital you have to launch into the business.
If you have a lot of money, it is more advisable to buy directly from the manufacturers. This will increase your profit as they will sell to you at the factory price which will help you become flexible with your sales to customers.
This is the reason why when you go to a particular place to buy electronics, it is cheaper in some places than others.
However, buying from wholesalers has advantages of its own for startups because it makes the purchase easier and less cumbersome compared to buying directly from the manufacturers.
Locate your showroom in a busy place
And sample them well. Ideally, you should site it on a major road because you’ll be open to a lot of potential customers. Let your showroom have a good outlook with everything sparkling and free from dust. No one wants to buy a dusty thing back home.
Offer some after-sales service like delivery (in fact, this is very important). When clients buy things that exceed one or that are worth a particular amount of money, arrange for a transport service that will help them take them home.
Don’t go about eating all the profit you make. Sometimes, you need to give back in order to have more. You could also go as far as having an engineer in your showroom to fix the electronics of customers who bought from you if the electronics developed a fault within a particular time range.
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Dare to expand
If you are just starting small, you should think of expanding. Don’t limit yourself to what you are doing presently. Expand! Spread your tentacles and make your business known around the country.
But companies live to deal with those who sell off easily the products in their showroom and not those who lack diligence and marketing strategies.