How to start electronics store business in Nigeria

Nigerian business sector is growing fast and as such, there are lots of promises in the industry. Starting a business such as Electronics Store Business requires a lot of operation and adequate planning and this is important because, in this case, electronics store business is a versatile kind of businesses.

Electronic store business is one of such types of businesses that can be found in the Nigerian business sector.  An electronic dealership is considerably wide. Hence, taking this into consideration is of utmost importance.

To start an electronic store business, it is important that you choose an area which is more agreeable to you. In other words, select an area of interest in your choice of an electronic business.

How to start electronics store business in Nigeria

How Profitable is electronics store business in Nigeria?

There are several types of electronics. These range from PC’s, TV sets, audio devices (radio), fridges, cookers, washing machines and a host of other electronic products.

A decision is crucial to the success of the business. In setting up your electronic business, the choice is necessary. You may open a multipurpose electronic store or focus on a particular type(s) of electronic.

Competition Overview of Electronics Store Business In Nigeria

After choosing a niche, you may want to pay serious attention to your competition. There are several competitors in the electronic business. Hence, your electronic business may face stiff competition from similar businesses.

To outperform your competitors, you may want to consider introducing innovative measures. Although this may be of great help, it is not enough in itself. A proper implementation of these measures will significantly improve client patronage. An area you may want to focus on is the product warranty.

Choosing A Location For Your Electronics Store Business

This goes together with sales. By locating your business in an ideal location, the chances for success will greatly increase. Therefore, when starting an electronic business, consider densely populated areas as possible locations.

Doing so has the potential of shooting you into the top league of electronic dealers.

There has never been a business which thrived in bad locations. Hence, if you desire to see increased patronage and sales, then you might want to take this very seriously.

Getting a good location in Nigeria is never a problem. It is common knowledge that in every state, apart from the Central Business Districts (CBD’s), there are also big towns and cities.

Financing

While starting an electronic business might seem quite easy from the sidelines, a lot of planning, preparation and sweat go into the process. To be on the safer side, it is important that you consult extensively with experts in this field.

The consultation helps you not to spend out of the box. This consultation is like doing a feasibility study on what you are about to venture into.

You can finance your business through your pocket, or you could borrow which you would later payback with interest or you can choose to invite investors into tour business which they would, in turn, have a specified cut or percentage per product sold. This is decided by you.

Customer Care/Services

Any serious electronic business will take this seriously. After patronizing your services, especially after making a large purchase, the electronic business is supposed to handle the transportation of the purchased goods (electronics) to the buyers’ destination.

Therefore, the electronic business is expected to have delivery vans to convey/move these purchased goods to the buyers’ destination.

After sales services are strategic to increasing and attracting patronage. A customer will certainly be happy to have the business take care of the transportation of his/her purchased goods.

Sustainability Tips For Electronics Store Business In Nigeria

To make sure you stay in the light of the business, you need to keep abreast with the latest technology in the electronics sector. Constantly, the art of entertainment is changing from stage to stage.

Take, for example, considering the Television set, today we see diff sizes and types of televisions. But, a few years back, all we had was just fourteen inches, Twenty-one inches, Thirty-two inches etc.

Today we have LCDs of different sizes all from different companies and different specifications. These companies themselves are always competing who wants to be on top.

Hence you as a supplier to the end users should also be up to date with the latest changes in these technologies. Keep your mind focused at the top and also get a good staffing unit to help you get what you want when you want it, and how you want it.

Summary

Every home in Nigeria today has at least one electronic set or the other. Each manufacturer has his/her own unique nature. It is your duty as an electronic seller to bring all these manufacturers together under a single roof so that the entire public can make choices from each of them.

The idea of running an electronics shop should not just end at selling the electronics itself but try looking into extending a hand to reach your customers in terms of servicing and maintenance.

This would help you maintain a good and lasting relationship with your customers, and help you keep them.

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Ekemini Ekpo is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Roberts. Page maintained by Ifiokobong Roberts. If you need a personal assistance on this topic, kindly contact us.

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