How to Start a Rooftop Lighting Service Business in Bangladesh
Start a Rooftop Lighting Service Business in Bangladesh
It’s become a very popular home improvement project for many homeowners to upgrade or replacing rooftop light fixtures. It’s not only relatively inexpensive but it can have a beneficial impact on the appearance of their homes. That’s why you have a chance to start a rooftop lighting service business in Bangladesh. Also, it’s a wise choice for a new business enterprise to start a business that sells rooftop lighting products.
And you may even consider forming a joint venture with an established retailer in your community as a method to reduce start-up costs. Moreover, it as it doesn’t require a lot of floor space as you may even consider forming a joint venture with an established retailer in your community. For example, a furniture store or paint and wallpaper store is the good match for this type of business venture.
Why Start a Rooftop Lighting Service Business in Bangladesh
You should consider a rooftop lighting service business for your business ventures if you’re considering starting a business. Perhaps, you’re in the field when you have done some landscape lighting for your own home or a friend’s business; or you are intrigued by outdoor lighting designs.
Also, those who prefer to work outside and not be chained to a desk job and you’re one of them. Moreover, there are good chances to earn good revenue from this business in Bangladesh due to the huge construction jobs and the replacement of old lighting. In this concern, you may consider the huge amount to a population of the country and the percentage of them who has building premises.
If you know the quantity, you’ll be surprised and be enthusiastic to start the business. Simply needs to follow some steps of the business.
Steps to Start a Rooftop Lighting Service Business in Bangladesh
Although it looks like very easy to start a rooftop lighting service business, there are some critical factors to consider wisely. If you follow them then you have a great chance to be succeeded in this business. But, if not you have chances to be failed soon.
However, the opportunity to sell and distribute lighting is expanding rapidly with industry demands for goods and services, which is one of the good news. And another one is that you’ll find a plenty of room for new light designing businesses when you’ll start it. Well, let’s know the steps to follow for this business.
First Step: Business Plan
If you wish to open a rooftop lighting service business, or if you currently own this business and want to add landscape design and lighting as an additional service then you need a specific business and marketing plan. Whether to start as an independent contractor or purchase a franchise opportunity should consider as a new designer.
So, consider this in your business plan for capital needs because purchasing a franchise may involve additional costs. Your business plan should include a description of your experience and expertise, how you plan to market your business and a description of your business operations in addition to initial capital and financial projections.
Second Step: Target Market
Offer your lighting design services to your established client list if you already have an existing rooftop lighting service business. This is because of determining your target market. Also, consider what market you will offer your services if you’re starting a new landscape design business. And you also should determine either you’ll choose residential or commercial rooftop lighting design and what competitors exist in your area. It will assist in determining the level of resistance you will meet when starting if there is a study of customer volume and number of competitors.
Third Step: Business Finance
You should create a financial plan to determine the initial capital requirements for the rooftop lighting service business. Not only the first year costs but includes the starting costs as well. You’ll get assistance with your business plan and calculating capital requirements from the Organizations such as BSCIC or your local small business administration office.
It’s much essential to find the sources of your business investment because all plans are void lack of funds. So, make some good sources of your investment so that you need not face any trouble in future. The costs of a business may include:
- Cost of equipment
- Possible franchise fees
- Inventory costs,
- Marketing and advertising expenses,
- Labor costs, licensing
- Other business or professional fees
Fourth Step: Business Marketing
When you’re marketing your business, you should use every means at your disposal to get the word out about your new business. Purchase local media advertising aimed at your chosen market if your budget allows. In order to make a network with other business owners, you should join your local chamber of commerce and merchant associations. Also, promote your business using online resources such as a company website, e-mail and social media.
Fifth Step: Consider Franchising
Your chances of doing well in business go up significantly when you franchise and benefit from the prior work of others and their lessons learned as an entrepreneur.
You may want to investigate whether purchasing a franchise might help you on your entrepreneurial journey before starting a landscape lighting business. So, you have to look for your local franchises whether they offer to buy or not. This way you may find some points that will direct you to a completely different track.
Sixth Step: Learn from others
It’s a wise move to have a conversation with someone who is in the business after you’ve evaluated your local competitors. But, you’re being overoptimistic when you think your local competitors will give you advice.
As you won’t be directly competing with them, an individual who has a rooftop lighting service business outside of your community may be more than happy to give you a few tips. Also, as a startup entrepreneur, you can get advice from many experienced entrepreneurs. With these all aspects, it’s much essential to learn from others those who are doing the business for years.
Some Other Steps to Follow to Start a Rooftop Lighting Service Business in Bangladesh
- Review the Competition
- Get trade license
- Register your business venture
- Get the TIN and VAT certificates
- Find a perfect niche
- Find proper equipment