A funeral home business handles funeral services for those who have died. Funeral home businesses provide burial, cremation, and memorial services for those who have passed away. People die every day, as grim as it sounds it makes this is a very lucrative one. This is how to start a funeral business in Nigeria.
How To Start A Funeral Business In Nigeria
1. Plan your Business
A clear and detailed business plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
- What are the startup and ongoing costs?
- Who is your target market?
- How long it will take you to break even?
- What will you name your business?
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To open a new crematorium business you would need to apply for a license from the CAC. There is no fee, but the application requires a great deal of work and preparation on your part. Further, you will also need to contact the Cemetery Board of the local municipality as well as the Department of Environmental Health to gain permission.
3. Finance The Business
Finance in the Funeral Home business is very necessary especially if you are looking to start a large scale Funeral Home Business. The difference between a small and large scale business is marketing abilities, facilities, workforce, and target markets. Nowadays getting funds for a business is not an easy task because no one would want to pledge his/her money in a business that can’t guarantee returns and profits.
4. Define your brand
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors. Market to those who are located close to your business through flyers, leaflets, local radio/TV advertisements and social media.