How to start a profitable Business Center in Nigeria

Business centers are booming – in the sense that they offer quick returns on investment - in many of Nigeria’s Universities, polytechnics and colleges of Education owing to the kind of environment they offer which promotes mainly photocopying of documents, printing and internet services for the teeming student population.

The Opportunity

There are at least 150 polytechnics in Nigeria and almost 120 universities with even more likely to be established in the coming years as the population of Nigeria increases plus the need to have more tertiary institutions closer to the average Nigerian. This can only mean that opportunities exist for many more business centers to be set up.

But Universities are not the only places offering opportunities to potential business center owners. You may want to take a look at shopping malls in Abuja and around very busy commercial districts to understand that many people require the services of business centers for their various official needs. I may have a laptop but not a printer or I may have documents to type but not the time to do it where else can I check for these services?

Services and Potential Income

Business centers render a number of services such as; photocopying of documents, printing, typesetting, desktop publishing, spiral binding, scanning and even internet café services. Income generated varies depending on location and price charged on services rendered but to be a little conservative we could be looking at not less than NGN 4000 per day with net profit margin at 30% of sales that could mean from photocopying alone one could make not less than NGN 36,000 per month.

Marketing Strategy

A few smart business center operators adopt very sensible marketing strategies to reach their potential customers. Imagine that you operate a business center in a very busy institution like a University or polytechnic where there are many other business center operators what can you do to outshine the competition and make sales? The strategy you adopt is what will determine whether or not you’ll make profit.

Startup Requirements

If you want to do this business on a small scale you could start with just doing photocopying services only then migrate to other related businesses as you expand.  A small space measuring 2 square meters is okay for a start and then you could look for a new location where many customers could easily find you.

Required for starting a  mini business center in Nigeria

Photocopying Machine – NGN 50,000

Chairs and Tables – NGN 10,000

A4 papers – NGN 1,000

Rent – NGN 60,000

Others – NGN 30,000

Total – NGN 151,000

Want to write a professionally acceptable business plan? Call for details: 0803 206 4106

How to pick a Reliable Business Plan Consultant in Nigeria

         

There are many people who claim to be expert business plan writers in Nigeria but not all of them know their work nor will deliver a neat, professional job in time. Many so called business plan writers have disappointed their clients by unduly stretching work far beyond the intended deadline and this makes many potential business owners and entrepreneurs worry about why they bothered themselves outsourcing their business plan writing in the first place.

But if you however can get a reliable business plan writer to meet your needs you’re not only going to be glad you did but you’d also reap many potential benefits in future with regard to managing and running your business successfully.

What to expect in a professional business plan

Here are a few things to look towards when trying to write a professional business plan;

Concise and accurate information. An excellently written business plan contains information that is to the point and is also rich enough to express relevant information that is accurate. Experienced investors and financiers can see through a business plan and decide on the spot whether it’s worth their time or not. A professional business plan writer knows how to put ideas and information as accurately and concisely as possible
 

Reliable figures. If the statistics and numerical data supplied are inaccurate it could either mean incompetence or dishonesty both of which will make any investor to cringe and walk away. Your financial statements and market information must show that you know what your idea is capable of delivering.                                                                                                                                            

Convincing and well expressed ideas. A business plan is also a sales document. You’re trying to sell an idea to potential partners, investors, lenders etc and you have to show them why your idea should be taken seriously. A professional business plan writer knows this and works to ensure that you can achieve this result – getting that financial injection to start your business.

Why you should pick a business plan writer?

But not everyone thinks they need a business plan writer. Some people believe they can do just as well on their own but here are some reasons you may wish to hire a business plan writer;

Save time  

                                                                                                                        

Many business plan writers have plenty of spare time to do hard market research and compute financial figures something that most of us aren’t willing or even able to do if we had the time. So instead of spending weeks searching for industry data and even more time writing down your findings which would cost you valuable man hours at your work or business simply outsource it to a business plan writer to do the job for you.

Save Money

How much would it cost you to do primary market research or a feasibility study? A business plan writer may charge you NGN 30,000 to write a complete business plan but that is nothing compared to transportation and other costs you may incur in the process
 

Professional Touch          

Many investors would look at your business plan and decide on the spot whether your idea is worth a minute or not of their time. If it looks anything but professional they won’t give you a chance

Questions to ask when looking for a reliable business plan writer

Ask the business plan writer the following questions as a way of knowing whether or not to give him a chance.

What are his/her records?  Let the business plan writer give you at least 3 other jobs his done and for what projects. Was the client successful in securing a grant or investment or loan to finance the business? How much was raised by the client eventually? 

Ask Probing Questions: Ask other probing questions such as; the method of operations (let the business plan writer tell you how he intends to deliver the service), deadline for delivering the job and his fee. If the fee is too high do well to work away but note that expert work doesn’t come cheap.

Do you need a reliable and expert business plan writer in Nigeria to help you with your business plans, business proposals or advice in writing one? Call me on: 0803 206 4106 or send me an email: paulonwueme@gmail.com

How to set up a professional tailoring Service in Nigeria

There are many service businesses one can start with little or no capital even from home and one of such businesses is Tailoring. The good thing about this business is that you could start with just one sewing machine from your bedroom and within months be handling jobs worth hundreds of thousands of naira depending on how well you prove yourself.

The business typically involves taking customers measurements and their requirements and sewing to type. The potential in the business is vast but is only for the skilled and patient.

NB: Your skills and expertise should be your greatest asset in this business and excellent rapport with customers else you could be frustrated and be forced to make an early exit.

Opportunities

There are many companies and institutions that need to have uniforms produced in bulk to be worn by their staff or members. Think about churches, hotels, security guards companies, para-military institutions, factories and hospitals to mention a few. Think of just how much contracts you could potentially secure if say you’re contacted to sew uniforms for a primary school with 1000 pupils or a security guards company that needs 300 uniforms and there thousands of companies like that all over the country.

Besides this there’s also customized tailoring in which a client wants his/her clothes sewn to their own tastes and specifications. For this class of customers the price is premium and majority of people who fall into this category are celebrities and upwardly mobile, trendy and socially active folks who would rather rock expensive designer wares than buy common clothing.

Challenges

Tailoring is quite a challenging vocation to undertake as there are so many people doing it with profit margin not so attractive but that is if you are like every other tailor. The key to standing out and making a brand that puts good cash in your pocket is excellence and efficiency. Can you despite the challenges be an excellent and efficient tailoring service? One of the key challenges is low purchasing power within the economy. People and even companies complain of cash squeeze which makes it difficult for them to pay for goods and services at premium prices so they’ll rather patronize someone else who can offer them a lesser charge that could negatively affect your bottom line. Besides the cash squeeze could also result in low patronage.

Marketing Strategy

Reaching your target market shouldn’t be a challenge once you become a household name therefore the real strategy would be how to make yourself well known within your niche. There are many ways to achieve this for instance effective customer service, excellent branding, referrals and direct marketing to clients.

Financial Summary

Industrial Sewing Machine: N80,000

Accessories (scissors, tape, threads etc): 10,000

Shop Space: N120,000

Furniture: N15,000

Others: N50,000

Total: N275,000

Do you need to have a professionally written business plan? Contact me to write one for you: 0803 206 4106

How to get well written Business Plans in Nigeria

One of the major causes of failure in business is the lack of a viable business plan. In fact it has been said that many business fail not because the business ideas weren’t good but actually the implementation of those ideas.

Another reason businesses fail is because of inadequate financing. If you want to raise additional finance for expansion you’ll need a business plan because banks and investors won’t just listen to mere words but actionable, well documented plans that will move your company/business to the envisaged position.

What is business Plan?

A business plan is a document that provides useful information about stated business goals such as projected earnings, profit, market size and administrative plans needed to make such goals attainable.

You could see it as a road map to direct you to a certain destination – your desired business position within your industry and within the market. It’s a document that says what your business goals are, how you intend to achieve those goals and what your business internal structure will or already looks like.

Why do you need a business Plan?

Why should anyone even want to consider writing a business plan in the first place? This question is answered here;

To raise funds from investors to start a business

There are many business ideas that may never see the light of day not because they’re not viable but simply because there’s no capital to invest in it. But even if the idea makes sense and happen to know people willing to invest in your idea, most investors would still ask for a business plan. Their reason for wanting it is to get insights into what your business goals are, what steps you’ll put in place to achieve them and how profitable is the opportunity.

To expand an existing business

A business plan can also help you find ways to expand your existing business. You might discover along the line a new product or service or an underserved market segment that needs exploitation, how do you go about it? That’s another reason you need a business plan.

To Capture a Market or Market Segment

Sometimes the competition is just too weak but the demand for a product is high. A unique selling point is often the difference between a market leader and a struggling competitor. A business plan can help you arrive at a unique offering that’s head and shoulders above what the competition has to offer.

To provide a blue print for business success

How about running your business internally so you can turn out great results in how you utilize your business resources? A business plan is like a road map which directs you on how to run your business showing what you intend to do in order to achieve your business goals and more.

If you need a well written business plan but don’t have the time or expertise you can contact a specialist business plan writer to do a detailed analysis of a business opportunity or market survey. Simply call: 0803 206 4106

How to set up a Creche/Day Care School in Nigeria

A day care or crèche is a place where babies, toddlers and young children are kept during the daytime while their parents are busy with work. It’s a sort of playground/classroom setting where these younglings hang out, play, rest and are taking care of by trained handlers so that later in the day after work the parents can come pick them up.

The Opportunity

There is a high demand for Creche and day care schools in our urban centers in Nigeria. Why do I say that? How many working class mothers do we have in many of our cities? How many of them have nannies to look after their kids? Fact is toddlers can be a big distraction in the workplace and many mums know this hence why they choose to enroll their darlings in Creches and day care centers. This is the reason many primary schools set up nursery arms to serve as day care centers.

Who is the business for?

If you love children and you’re very good at looking after them then you may want to consider going into this business. However the challenge is always keeping your kids in safe hands and making sure that nothing bad happens to any of them. If you’ve handled children in Sunday school or have taught in a nursery school or have looked after children before then give it a try.

Marketing

This is a business you can start from your home informally approaching nursing or working mothers in your neighbourhood, at church or any other gathering letting them know what you do. If you wish to rent it makes sense to pick a room in a strategic location which is easy to access by your target group. You can later start printing fliers when you have attracted a small number of clients. Even if you can find 4 or more people initially it’s worth it, make do with that and as you become more consistent and better at what you do, you’ll gain more customers.

Requirements

To set up something like this you’ll need the following;

Mini Flat – N800,000 per annum

12 Small Chairs – N24,000

3 Small tables – N24,000

Toys – N40,000

TV set – N40,000

VCD player – N15,000

Book shelf – N60,000

Kiddies books and stationery – N30,000

Others – N500,000

Total: N1,533,000

How profitable is the Creche Business in Nigeria?

Like all businesses that depends on many factors but considering that parents pay N30,000 per term for nursery schooling you could charge each parent say N5,000 per month. Let’s assume you have 12 enrollments multiplied by 5 that’s N60,000 for the first month.

Breakdown first year (this is an estimate)

50 enrollments X N60,000 = N3 million

Running expenses (rent, salary, electricity etc) = N2.4 million

Profit before tax = N600,000

Return on Investment = 40%
Pay Back Period = 2 to 3 years

This is a business you can run for years without approaching banks for loans as it can expand on it’s own. It’s a cash cow.

Good luck.

If you need a well written business plan but don’t have the time or expertise you can contact a specialist business plan writer to do a detailed analysis of a business opportunity or market survey. Simply call: 0803 206 4106

How to set up a Mini Supermarket Business in Nigeria

At one point in time we’ve had cause to visit a supermarket to buy various consumables for our domestic needs whether or not they were edible. As we speak there are more than 10,000 registered supermarkets or grocery shops in Nigeria. However here in Nigeria when we talk about supermarkets we often times mean a corner shop where we can buy whatever we need.

The Business Opportunity

There are many people in Nigeria who don’t buy household consumables in bulk, that’s often because they live at subsistence level – leaving from hand to mouth or don’t have the time to go to the open market or big supermarkets where they can order for goods in bulk. That explains why there are so many kiosks selling ‘provisions’ and household items in many corners of streets in big cities and towns in Nigeria. In some corner shops, business is so brisk that daily sales could be as high as N200,000 with sales margin being 3% gross profit could be N6000 or more daily.

Challenges of Owning and Running A Supermarket in Nigeria

There are too many people doing this business that means to really overcome the competition and make great sales you have to do something really spectacular that will beat your competition hands down. Robbery incidents are common in some corner shops at night and being a product based business theft from staff is also common. Add the problem of erratic electricity supply. Also for this business to succeed you need to get a good location for your shop which isn't easy.

Who is A Supermarket Business Suited For?

If you have a regular job, you can set up this business and employ a sales person to manage it while you’re at work. A small scale business person can also embark on this business as a starting point to bigger things. Students in higher institutions can set it up so too unemployed people.

Start-up Requirements

Stock – N 2,000,000

Cash at hand - N 500,000

Furniture – N 150,000

Generator set – N150,000
2 years Rent - N600,000

Others – N 1,000,000

Total – N 4,400,000

If you need a well written business plan but don’t have the time or expertise you can contact a specialist business plan writer to do a detailed analysis of a business opportunity or market survey. Simply call: 0803 206 4106

How to Set up a JAMB/UTME Tutorial/Prep Classes Center in Nigeria

There is this prestige that many Nigerians have with being called graduates. Most young Nigerians who want to build a career only think of white collar jobs and you can’t secure one if you don’t have a university degree or a Higher National Diploma from a recognized polytechnic in Nigeria. The examination body responsible for preparing students to gain admission into Universities and Polytechnics in Nigeria is the Joint Admission and Matriculation board (JAMB) while the various Universities and Polytechnics conduct separate examinations to admit deserving students into various department through an aptitude test known as Universities/Polytechnics Matriculations Exam also known as Post UME.

Market Opportunity

There are at least 1.7 million Nigerians who would want to take the 2014 Jamb/UTME examination and majority of them lack sufficient experience or knowledge on how to prepare for these examinations. An experienced tutor/instructor who understands how the process works from time of registration till admissions and eventual matriculation stands to gain a lot especially in the big towns and cities all over Nigeria. In some cases intending JAMB takers (JAMBITES) pay as much as N5000 per month to prepare for 4 subjects, imagine if you had 40 students to teach per month, that would be N200,000 to say the least.

Challenges

But it a good idea always sounds good until it’s tested. There are many challenges you’ll face such as suitable location as many students tend to judge a prep center by its location which is not easy to find. If you’re using under a tree or behind someone’s house it makes you look like a quick buck. Also you’ll have to deal with examination touts and mercenaries as some of them might want to poach your students into patronizing them. It’s common these days to have people waiting for already answered questions sent to their phones in the exam halls thanks to touts who may give your business a bad name if you’re not careful.

Business Strategy

There are several strategies you can adopt to make money for yourself apart from charging fees. You can sell handouts, JAMB scratch cards and key points for your students to study at their own leisure time. Another strategy will be to have both morning and evening classes. Morning classes could start by 9 am and end by noon Mondays to Fridays and 10 am till noon on Saturdays while evening classes could run from 4 pm till 7 pm Mondays to Fridays and 4 pm till 6 pm on Saturdays or probably give Saturdays off for evening classes depending on your capacity. As stated earlier you’ll also need a good location like a shop space in a busy neighbourhood or very close to a university/polytechnic area or where there are many secondary schools. This is just a marketing strategy to put you close to the students.

Requirements

You’ll need to have one subject teacher who is really good at each subject. For instance someone can specialize in chemistry and physics, another teacher may take biology and geography, another might take Maths, while literature and English can go to another teacher. You pay your teachers per class taught like say N500 per class with each class lasting for 1 hour.

Start-Up Capital

Rent – N60,000

Stationery (Marker board, pens, textbooks etc) – N50,000

Furniture (10 benches and desks) – N80,000

Generator set – N20,000

Others – N20,000

Total – N230,000

Conclusion

The business is not for everyone as you need to have a passion for teaching and an eye to hire good teachers. There are many graduates of colleges of Education who are unemployed and many of them would be glad to teach for a small fee. Overall it’s your reputation that will sell your business for you so strive hard to make it work well for you.