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Guide On How To Start A Successful Iron And Steel Rods Business In Nigeria

Guide On How To Start A Successful Iron And Steel Rods Business In Nigeria
Iron and Steel Rods

Guide On How To Start A Successful Iron And Steel Rods Business In Nigeria

Hello, welcome to our blog…
Today we’re going to guide you on how to start a successful iron rod and steel business in Nigeria, with a step by step instructions.

Have you been thinking about starting a iron and steel rod supply business in Nigeria but don’t know how to go about it ? Don’t worry, by the time you are done reading this article, you would get to understand how the business work and how to get started easy and simple way.

To start this business is actually not difficult as you think and therefore, anyone can do it.

Like every other good businesses, iron and steel rods supply business had good return of investment ROI, one length of 16mm – iron rod sells for about N3000 retail price, you buy it at N120,000 per tonne and get 52 pieces, When you now sell it all, you would get N36,000 as gain. The gain could be higher or lower depending on how much you purchase and location of your business.

As an entrepreneur, you should always seek to know how to minimize cost and maximize profit in business enterprise.

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Guide On How To Start A Successful Iron And Steel Rods Business In Nigeria

However, the prices of iron in the market varies greatly and there are different price for imported ones compared to Nigerian made. The analysis above is to give you idea of what the profit in the business look like. So, your idea will always be to get products at best price, by going directly to the companies to buy would be considered more profitable than buying at the market.

To get started in irod and steel rod business is not tough, it is very easy to start, just get a space by the roadside and you have your start up capital in your hands, then trust me you are good to go.

You don’t need to keep too many logistics and starting up expense is highly minimized.

Another thing that made this business one of the best choice business is the fact that rod steel is one of the most used building and construction material in Nigeria or anywhere in the world.
That makes trading on this material is very viable because you are sure of constant sales.

Other joyful part is that, if you can get a good and strategies space along the roadside, you don’t need to spend money or pay for any ads company before you can get your customers. You will get your own buyer with little or no stress because steel is used everyday for construction purposes

Starting an iron and steel rod business in Nigeria is what many Nigeria entrepreneurs are admiring to do. Since iron and steel business is one of the lucrative enterprise business to get more sales and make money from

Just think about the number of people that are building houses and are buying building materials to beautify their houses in Nigeria.

Well, this article here has all you may need to know about to start iron rods and steel business in Nigeria with a step guide in 2022

As someone waiting to start an enterprise in Nigeria and thinking about the iron rod and steel business you should first of all understand how iron and steel business works and this article can help you get started without getting scam and loss.

HERE ARE SOME OF THE AVAILABLE IRON RODS AND STEEL IN NIGERIAN MARKET AND THEIR PRICES

  • 25MM – Goes about N7,000 per length. 21 pieces make a tonne, And It cost N120,000 per tonne or more than due to increasing in dollar.
  • 20MM – it about N4,000 per length. 33 pieces make a tonne, N120,000 per tonne or more than due to increasing in dollar.
  • 16MM – cost about N2,000 per length. 52 pieces make a tonne. It cost N120,000 per tonne or more than due to increasing in dollar.
  • 12MM – It about N12,00 per length. 93 pieces make a tonne. It cost N120,000 per tonne or more than due to dollar
  • 10MM – it cost you about N1,200 per length. 133 pieces make a tonne. It cost N120,000 per tonne or more than due to increasing in Dollar
  • 8MM – Cost N700 per length. You get 210 pieces per tonne at N120.000 per tonne or more than due to increase in dollar

HOW TO START IRON ROD AND STEEL BUSINESS IN NIGERIA

Ever Since the iron rod and steel supply business is one of the best lucrative idea business in Nigeria so far.

So, in This step and step guide we will give you every details you need to improve your knowledge in starting up the business

* MAKE A GOOD PLAN

In starting any types of business, I encourage you to always first make a good plan and write down every details require for the business because it might help you to avoid mistakes, So you should try up your hands by writing a correct and authentic plan for the business.

Getting a well written business plan will actually help you to set direct target for everything.

You might be thinking on how you can write a business plan, there is no other way to do that except by putting down every important information on how to spend low and maximize your project at the end of the month.

Always ensure proper management and control, covering debt control, inventory, business insurance, accounting, employee management, legal aspects and financially.

* REGISTER YOUR BUSINESS

On this step, you have to register your iron rod and steel business, So, try everything possible to make sure you register your business name with the Corporate Affairs Commission in Nigeria

To Register your business in Nigeria, you can check the registration steps in Nigeria with Simple GUIDE HERE.

Guide On How To Start A Successful Iron And Steel Rods Business In Nigeria

* GET A GOOD BUSINESS LOCATION

On this one you can let a Real Estate Agent help you out.

Getting your business location at the road might be the best strategies of improving your iron rod and steel business.

Therefore, you could get a space by the road side in a developing area if possible that is where the material sells most for average traders.

Big construction companies handling big project like the Road, Building of companies and other massive structures used to get their material direct from the manufacturing companies

Your target customers are chiefly private and commercial building construction people. It is worthy to note that the location will also be a very important factor for the success of your business.

Once you have the space, you proceed to source for your funds, the most popular iron rod and steel in your target market is from 16MM downwards, these are the most popular iron rod and steel used for private and commercial building and concrete work in Nigeria.

The best place to buy iron rod and steel manufacturing companies, look for the one nearest to you and get your constant supply there.

They usually take it to their customers once you buy it reasonable quantity and you become a dealer.

Hope This article mighty help
If you are planning to invest on iron rod and steel business as long as you have the start up money in hands, Don’t hesitate to follow this guide to set up dream job.

Good luck and if you do have a questions, Drop it on them comment box below! We will respond to your ASAP.

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Astro

I'm Astro.. A young music addict blogger and mastermind behind AstroBaze media..serving you every latest updates around the globe..

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