How To Start Up A Construction “Steel Rods” Business In Nigeria.
Have you been thinking about starting Steel Rods supply business in Nigeria but don’t know how to go about it? Worry no more, by the time you are done reading this article, you would get to understand how the business works and how to get started easy and simple. How to start this business is actually not difficult at all and anyone can do it.
Like every other good businesses, steel rods supply business has good return on investment. One length of 16mm – Iron Rod sells for about N3,000 retail price. You buy it at N120,000 per tonne and get 52 pieces.When you sell it all, you would get N36,000 profit. The profit could be much higher or lower depending on how much you buy, and location.
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 looks like. Your target will always be to get product at the pest price possible, going directly to the steel companies to buy would be considered more profitable.
How to get started not hard, it is very easy to start. Just get a space by the roadside and your start up capital in your hands and you are good to go. You don’t need to keep too many logistics and starting up expenses is highly minimized.
Another thing that really make this business one of the choice business is the fact that steel rods 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 strategic 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 buyers with little or no stress because steel is used everyday for construction purposes.
Below are some of the available Irons in the market and their estimated prices:
25mm – About N7, 000 per length. 21 pieces make a tonne. It cost N120,000 per tonne
20mm – About N4,000 per length. 33 pieces make a tome. N120,000 per tonne
16mm – Around N2, 200 per length. 52 pieces N120,000 per tonne
12mm – About N1, 200 per length. 93 pieces. N120,000 per tonne
10mm – Cost around N1,200 per length. 133 pieces. N120,000 per tonne
8mm – N700 per length. You get 210 pieces per tonne at N120,000 per tonne.
How to get started is simple and straight forward.
Get a space by the roadside in a developing area preferably. That is where the material sells most for average traders. Big construction companies handling big projects like the roads, building of companies and other massive structures used to get their materials direct from the manufacturing companies. Therefore, your target customers are mainly private and commercial building construction people.
Once you have the space sorted out, you proceed to source for your fund. Base on the estimated analysis above, you know how much you would be needing according to your the quantity you wants to start with.
The most popular steel rods in your target market is from 16mm downwards. These are the most popular steels used for private and commercial building and concrete works in Nigeria.
The best places to buy your steel rods is from the 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 in reasonable quantity.
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