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Have you searched google for articles How To Start a Carpentry/Furniture Business in Nigeria. This Detailed post contains all the necessary details on Starting a Furniture Business in Nigeria.
The Ultimate Guide on How You Can Easily Start Your Furniture Business in Nigeria
You always have this urge to take up Furniture business as an occupation but you really don’t know your way around it. You don’t want no mistakes and here you are, On my website trying to figure out your next move. For real, Furniture business is one of the best construction occupation in Nigeria and its on high demand. Your services aren’t affected in spite of the changes in economy i.e recession etc. One must still need a Furniture/carpenter to do some construction work.
Furniture/Carpentry Business in Nigeria
Starting a Furniture business in Nigeria is a very lucrative one if you decide to start up in a very big way. Your knowledge and skillful expertise are tools that will propel you into the limelight, that is if you apply proper planing and have a well defined business strategy.
Carpentry business is not limited to furniture making or repairs but it also covers different areas of:
- Laying new wooden stairs.
- Installing trims and beams.
- Decoration.
- word artwork etc.
From this few points I listed above you will see that carpentry is a very vast business. In order to start up successfully, You need to learn the business perfectly by knowing the ins and outs of the Furniture business. Have a proper business planning and strategy. With all those in place, Your success is 100% guaranteed.
In the past, I’ve shared with you how to;
- How to start a poultry farming in Nigeria.
- How to start a lucrative grass cutter business in Nigeria.
- Business ideas: How to start a catfish business in Nigeria.
What To Have In Mind Before Starting A Furniture Business In Nigeria
- You will need to be highly skilled and experienced in order to start a successful Furniture business.
- Finance: you will need to have a start up capital.
- You will need to know how to bid for Jobs.
- Mentoring: You will need to have a mentor.
Furniture Business in Nigeria
Before you start up your Personal Furniture business in Nigeria, You need to take a part time job as a carpentry apprentice in a bigger firm. This will help you access the business to know whether it is good good business opportunity for you. It would also help you broaden your Knowledge on the ins and outs of carpentry work.
Write a business plan for your Furniture Business
In a previous article, I explained what business plan means and how you can make perfect use of it to strengthen your business.(Click here to read it).
A carpentry business plan will establish your starting point and the perfect techniques you can as well use to achieve your business goals.
Point Out the Furniture/carpentry services you are experienced and well skilled in
You need to know your target market, Choose a perfect business name and develop a marketing strategy. Describe the pricing of your services .
Open a business bank account for your Furniture business.
Having a separate bank account for your business is very necessary. It helps you to monitor your progress in the business. Also it helps you to avoid spending from your budgeted capital. You need to open this bank account in the name of your company by using your company registration documents.
I also wrote a post on how to open a business account in Nigeria, Read here.
Find a very suitable location to start up your Furniture business.
Location is a very important factor to consider while starting up a carpentry business in Nigeria. Trust me, You don’t want to open a carpentry/furniture workshop in a remote area and having nobody patronize your nice work. You need to open your workshop in a very exposed location. An environment where cars and passengers pass by everyday.
Where to get capital for start up
Family members
In sorting for funds, the first place to look at is family members. They are the closest people to us and they understand our passion and are most likely willing to help us raise funds for start ups like this. Your brothers, sisters, cousins and even distant relations.
Venture capitalist
There are several companies/ individuals in Nigeria seeking for businesses to sponsor. They invest heavily in business and also take part in sharing in the profits realized at the end of the day. They sponsor business with huge potentials and business that has a proper business planning and laid down strategy.
I recently wrote a book on how to secure a loan without collateral in Nigeria. I found out that most Nigerians don’t have tangible collateral to place in exchange for a loan. Why watch your skills and talents waste when you can also secure a loan to start up your carpentry business from banks, private institutions without using a collateral.
Personal savings
This is also a good way to get your capital for your Furniture business. Throughout your journey as an entrepreneur or civil servant, I believe you have saved a substantial amount in your bank account or safe. This savings can help finance your New business but bear in mind not to use all. In case if anything happens in the end you don’t go about hungry.
How To Promote Your Furniture Business to Clients
There are many ways you can attract clients for your carpentry business, Good marketing an promotion helps you to boost your sales, Increase visibility and outreach of your business.
This is the best and most convenient way of promoting your business. This is done by creating your business website getting on the first page of google. These days, Most people go on google to search for every single information they need. If your business is on google, You will have a better advantage over others in the same category as you.
- Word of mouth.
This is also a good strategy of marketing. It involves telling everybody you know about your Furniture business. Your family members, your friends, then also tell them to tell their friends and on and on. Hope you understand how it all works.
Finally on Furniture / carpentry business,
You need to get started and stop all procrastination. Make your move and plan your way through. Thank for coming across my website {www.incomenigeria.com} I hope you enjoyed reading? If you have any questions to ask, you can use the comments section. Feel free to share your ideas to our readers too. It can help a lot.
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Thanks and remain blessed,
Written by Godwin, C.E.O INCOMENIGERIA. Click Here to read about my Journey so far and how i got to this point.
Very helpful information. Thanks for sharing, these will help a lot those starting a furniture business in Nigeria.
The write-up was so educative… Can a Female start up this business also?. Will be Easy for her!?.. Does she need to go and learn carpentry work??
Great one…very insightful article… furniture business is very lucrative