How to Start a Bedroom Furniture Showroom Business in Nigeria
Bedroom Furniture Showroom Business in Nigeria
Bedroom furniture showroom business in Nigeria is all season profitable for the investor. If you are looking for good business ideas in Nigeria, you can choice Bedroom furniture showroom as a business. Previous year’s Nigerian economics condition was unappeasable. Because Nigerian people most attracted to oil business but now it’s changed. Under those circumstances, Bedroom furniture showroom is a most profitable business idea in Nigeria. Definitely, you can start a Bedroom furniture showroom.
After making a decision your Bedroom furniture showroom business then you will draw your business plan and strategy. After drawing your business plan, including a description of your Bedroom furniture showroom business plan and targeted market, your market and customer analysis, price and menu, employee, their training and others business utilities. If you unsuccessful to draw your business plan, your Bedroom furniture showroom business plan fails to succeed.
Apply For Permits
Before starting a Bedroom furniture showroom business you will need a business license, tax identification number and liability insurance. Without a license, your Bedroom furniture showroom doesn’t sustain. You faced problem steps by steps to develop your business. So be careful about the permit and License to sustain your business.
Hire Employees to start Bedroom furniture showroom
To start a Bedroom furniture showroom you should have need employees. There are mainly two types of employees necessary for your Bedroom furniture showroom- Service staff and Management staff. You also need delivery staff if you want to home delivery.
To start a Bedroom furniture showroom you needed Capital
To start Bedroom furniture showroom you must needed capital. You can manage your business capital from your family members, friends, and other sources. There are three ways you can raise capital for your Bedroom furniture showroom business in Nigeria.
- Self-funding-If you have enough money in the bank, then congrats.
- Loan-You can take a loan to fulfill your Bedroom furniture showroom.
- Partnership: If you have enough money to start a business you take partner one or more.
The major Bedroom furniture showroom costs are equipment Costs, Rent, License, Marketing, employee’s Wages etc. To start a Bedroom furniture showroom primarily you needed 10,00,000 – 12,00,000.
Important Qualification to start Bedroom furniture showroom business:
- Public Speaking: To succeed in Business, you need to be outgoing, positive, engaging in conversation and willing to give up your free time to interact with the public.
- Being Organized: Being organized is a significant business skill, particularly when you are opening your own business.
- Financial management: Being able to successfully supervision your finances is critical. You will need to be able to estimate your cash flow and sales, as well as, observe your profit and loss.
- Negotiation and Communication: You will need to negotiate and communicate with your employees, customers, potential investors, and suppliers. For this reason, you just need to be written and verbal communication skills will help you to build good business relationships.
- Leadership: To success your business you need leadership skill. You must be able to motivate your staff in order to get the best out of them and improve productivity. Assign time to mentor and trainer for your employees.
- Networking: Building good relationships trough network will help you to develop your business and give you the support you will need.
- Curiosity: Curiosity is the best business skill to effective success.
This will lead you to look into what your competitors are doing and it will also allow you to utilize new technologies to the best of your ability to streamline your business and even reach out to new customers.
Advertise your business:
To promote your business you can advertise on internet-based social media such as Facebook, Twiter, Instagram and others online news portal and blogs. You can also create a website to promote your Potato chip business. Recently facebook is most favorable to people they share their idea, hobby etc on facebook. They buy their daily necessary materials from the online or facebook based market. So you can advertise your business or start an online business for your customers.
How to be successful in Bedroom furniture showroom business
The success of a business depends on its maintenance. If you maintain your Business properly you must gain a lot of profit from your business. If your business starts with the proper place and familiar to the consumer, you will be successful no doubt. Other hand maximum time business success sustains the Relationship with the competitor. Visit your competition and introduce yourself. Nurture and develop a good relationship with them. Refer customers to them, as well. It’s giving and takes and there really is enough to go around. Don’t be afraid to ask them for help or advice.
Promote Bedroom furniture showroom business
To promote your Bedroom furniture showroom you need to take some outstanding steps such as:
- Set up and maintain your Bedroom furniture showroom profile carefully and respectfully respond to negative feedback.
- Set up your Google My Business/Google+ account and encouraged to review.
- Promote advertisement in online advertising platforms like Facebook, Twitter, and Google Adwords.
- Send an occasional email newsletter to the consumer.
- Monitor your restaurants social media presence.
- Share any positive press your business receives on your website and social media.
- Create a facebook page for your business to share successes, struggles and other facilities of your business.
If you maintain your expenditure and other utilities cost such as equipment cost, employee’s wages, Rent, License, Marketing, Technology(Bedroom furniture, software installed, a phone and a LAN connection) etc. you will be gained 25% – 40% or more profit of total investment. This profit depends on your management capacity or skill.