please who has an idea on car parts business or a good business someone can start with a million naira.... my bro is seeking advice from me so i want to divert here thanks for being there

Belts or Bearing supplier.

DesChyko:
Belts or Bearing supplier.

whats a belt or bearing supplier pls @DesChyko

poshpappy:
whats a belt or bearing supplier pls @DesChyko

These are parts used in vehicle. Being a supplier means taking orders of companies and traders (both local and international), then going to companies (that import or produce the bearing/belt), and buying in bulk from them. He could learn the trade in ASPAMDA in Trade Fair. That's their specialty.

DesChyko:

These are parts used in vehicle. Being a supplier means taking orders of companies and traders (both local and international), then going to companies (that import or produce the bearing/belt), and buying in bulk from them. He could learn the trade in ASPAMDA in Trade Fair. That's their specialty.

thanks brother.... bless you

Go meet the igbo's

poshpappy:
please who has an idea on car parts business or a good business someone can start with a million naira.... my bro is seeking advice from me so i want to divert here thanks for being there

I will advise you from three points one as an nnewi man two as a business developer then third as a business minded guy


You should ask the man what he loves doing cos there are secrets to any trade and that's what the igbo have mastered . Forget car parts business unless you can compete with ladipo. You need so long time to underdtudy it

I think if you go into business that deals with food shelter and clothing you will be ok

I think it will be nice to go into food related business in packaged form ..maybe get dealership for noodles etc

But u must do market analysis.you can still go into security solutions and maybe ict


But u must have a Passion for any business you are into

Pay me consulrtancy I will advise

Car parts seller are thieves. They organise people who steal cars and they butcher them. That is how they make it.

emmykk:
Car parts seller are thieves. They organise people who steal cars and they butcher them. That is how they make it.

wow!!! thanks bro @emmykk

emmykk:
Car parts seller are thieves. They organise people who steal cars and they butcher them. That is how they make it.

Dont generalize when addressing a group of individuals.

@op , I suggest you ask your person what he/she knows about any biz in alliance with interest.cos interest goes a long way to spur you.

Its interest that keeps someone in a biz even during financial challenges.

Investment never dies when it comes to everyday things people need.cos demand is always greater than supply.

I have several business ideas and plans I have given out that that has great demand,you never know there is good money in it but you see it everyday.

Ask him/her about his/her interest then hit me up if necessary

There are different categories of Used Auto parts dealers, the determing factor is how much capital you have.

The importers: They source the parts from different countries, bring them in bulk mainly containerized and sell to wholesale buyers who are always standby at the different auto part markets. These importers are the big risk takers. Of course the more risk the more gain. If you do not have asses to capital running in millions, then consider other options. The secret in this level is, buy in bulk and sell in bulk. Sometimes 10-20% profit is all they want. But, think about 20% of #20M in one container. Importantly, you really have to know what Auto parts that are in demand in your targeted market.

The wholesale buyers/seller: This group have shops mainly in the open auto market. They have considerable amount of free cash to run the business. What do they do? They have their ears to the ground and eyes wide open to know when there are new arrival of auto parts. The have contact with the importers and get first hand information. So, they are able to select the high in demand items from the newly arrived goods, sometimes even paying upfront before the actual arrival of the goods. Usually, they specialize on a particular brand or make and are well known for that brand within their circle. They are the ones that set the price because they buy in bulk and hoard. Retailers do not have a choice than to agree to their prices. Their secret is to buy at a really low price from importers and sell at higher amount to retailers who are not privy to buying from the direct source;importers.

The retailers: These are the small guys, but don't get me wrong because they prefer to remain small. Small in the sense that they do not buy in bulk and they only sell to end users. They #1M capital people are in this category. They have stores in the open market and in the streets. They have contacts with mechanics and previous customers and they try to keep that relationship open. Sometimes they may even call to find out if customers need "anything." The way it works out for these people is that they do a lot of customer retention and PR trying to sell and as many goods as possible per day. Little drops of water make mighty ocean. Since they are able to sell constantly, at the end they may make as much profit as the other groups but there is a lot of work. Too much sweat!


In between these three major groups there are other subgroups but they may be placed anywhere in the mentioned groups. For example, there are some importers that have retail shops to maximize profit and also sell left overs.

I will explain further why it works this way, that is in groups. First consider the fact that most auto parts are imported. The cost of shipping individual item is really the major issue here. Therefore, those with the capital to bring in bulk takes the advantage. Consider this scenario;

A single complete engine (quantity one) you would buy for $500 would cost more than $400 to ship if containerized or $800 if cargo (going by $4 per pound, assuming it is 200lb). But an importer with full container load of such engine would only spend about $100 for shipping in bulk. Again consider the fact that he would certainly buy them for far less than the man that buys one, two or ten quantities, sometimes for almost half of the price. Do the maths, and you will see that the cost of shipping (over head) is what defines everyone's category in the auto parts biz. Why waste time and money to import when you can get it for less from the big importers.

So, you see that with small capital, one can not compete in terms of final selling price if he tries the small importation route. The final selling price of a big importer might be half of your cost price. There is no magic or cutting corners, they are only leveraging on the high investment capital. They are even the ones that get loans from banks.

In conclusion, it is better to cut your coat according to your cloth. However the good news is that everybody seem to be happy in whatever category they find themselves.

poshpappy:
please who has an idea on car parts business or a good business someone can start with a million naira.... my bro is seeking advice from me so i want to divert here thanks for being there

I am looking for a reliable business partner,i deal with
Agricultural products, i have a store and a bus for the business,
am working on expansion. ROI is between 7%-12% monthly. Pm
me, call or text me on WhatsApp on +2348136909187, pls i want
only serious and mature people. Thanks
CLOSED

poshpappy:
please who has an idea on car parts business or a good business someone can start with a million naira.... my bro is seeking advice from me so i want to divert here thanks for being there

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