Nigeria and Africa at large are developing rapidly. Just at the population is rising, infrastructures are being erected. Cement is a fundamental material for construction work such as bridges, roads, houses, monuments, etc. Since constructions will keep happening, having the knowledge of how to start a cement business in Nigeria is key.
How To Start Cement Business In Nigeria
1. Have A Detailed Business Plan
A business plan gives you direction and opens your eyes to the wealth of resources you have at your disposal. Who are your target prospects? How much would it take you to start a cement business and haul products to your selling point? What things can you add to make your product more superior than your competitors? Hence you should have a detailed business plan.
2. Register Your Business Name
Before you can turn into a noteworthy wholesaler of any real cement maker in Nigeria, you should register your business with the Corporate Affairs Commission (CAC) of Nigeria.
This is to demonstrate how trustworthy your business is and how your business was supported lawfully. To begin the procedure of enlistment with CAC, it takes up to 2 a month to get the organization testament from any corporate Affairs Commission workplaces everywhere throughout the nation.
3. Open A Business Account
To open a business account in Nigeria, you would require a clearance from EFCC’s Special Control Unit against Money Laundering (SCUMIL) to ensure that you wouldn’t partake in anything shady. After that, you go to Federal Inland Revenue to get Tax Identification Number (TIN) which shows that you are willing to pay tax.
These are the two major requirements for opening a business account in Nigeria, the bank will tell you other things you need to do. Within moment after you have provided all that is required of you, your account will be opened.
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4. Acquire A Warehouse
You will need a warehouse to accommodate at least, a minimum of 500 – 1,000 cement bags. You can also talk to the town leaders in your vicinity, about allocating space for you to store your cement. It is advisable to rent a ware-house to prevent unexpected occurrences
This is the most important part of the cement business, just like any business you need a steady influx of clients/customers to make money. To do this, you have to study your competitors and look at what they are not offering their clients,then you can add some extra services.
Also, visit different construction companies and building companies, you can even advertise online in other to attract individuals that are currently building. Another area that shouldn’t be overlooked is cement block industry operators, try to pay them a visit and strike deals with them, you can be supplying cement to them on a regular basis.