The real estate business in Nigeria is booming. Building and construction companies are springing up all over the place due to the increase in demand of residential and commercial buildings.

A lot of people are starting to see the profitability in this business and are going into it. If you're reading this, you're probably one of those people.

If you want to start a building materials supply business in Nigeria, here are steps you need to take;
Steps To Take To Start a Building Materials Supply Business

Before we go into the steps, be sure to perform proper research on the risks and cost it will take to run this business. Develop a business plan detailing the cost, your marketing approach and when you expect to start making profit.

Make sure you have a registered company for your operations so as not to get in trouble with the government.
1. Identify a Target Product Area

Building materials range from cement, to wood, to reinforcement steel bars, to windows, etc. The list goes on on and on and it would be capital intensive and unwise to try to supply all. Select one product to focus on and become an expert in the supply of that product.

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Example, at IronInNaija, we deal in the supply and maintenance of all metal products for construction of houses and roads. Our products range from iron bars for reinforcement of concretes to metal sheets for doors and nails. Whatever metal products is needed, we supply.

Focusing on one product allows you get strong and profitable.
2. Look for a Suitable Location

Building materials vary on their profitability depending on the area chosen. Some factors can affect the cost of these materials such as type of building constructed, type of land used for construction, general income level of residents living in that area, etc.

Do a proper research to find which location is the most profitable for the product you have chosen.
3. Secure a Place

You will need a shop to operate from, either an open ground or a warehouse will do fine, depending on the type of building material you want to supply. You will most certainly need a ware house for storage of your products to avoid theft and prevent it from spoiling.
4.Locate a Supplier

There are suppliers for all building materials used in Nigeria. Look for suppliers you can work well with and negotiate a fair deal with them. You need to have a regular supplier who you trust and is reliable.

If you want to start an iron and steel supply business, we supply to vendors here at IronInNaija at a very reasonable and affordable price. You can call us on or email us. We supply right to your doorstep
5.Start Selling

Put yourself out there, develop a website, advertise on other websites, advertise on social media, network at events. It's not enough to open up shop, you have to let people know you exist because you are not the only one supplying your product.
BEST PRACTICES

Here are some guidelines to increase and retain market share:
Monitoring emerging and deteriorating markets

It is important for suppliers of building products to have contacts at all levels within the trade to identify opportunities for growth within new markets. Knowledge of areas of investment in large-scale building projects can help suppliers to develop a strategy to exploit these opportunities.

Similarly, knowledge of declining trends in current markets can help suppliers to reduce their focus in those areas and knowing what areas are declining can lend insight to what new areas will be coming to the forefront, allowing distributors to find and retain new customers in areas of high investment.
Use real-time data to gain a competitive advantage

Having an inventory management system or software in place to analyze data of past sales history and purchasing trends helps distributors keep an eye on their seasonality and demand shifts. With this, you will be better equiped to know when and in what quantity to buy certain products to avoid loss.
Getting Prepared with Optimization

The best way to stay ahead of the competition and to maintain relevancy in the industry is to constantly be prepared and looking forward rather than belatedly reacting to market changes. The best way to be perpetually prepared is by optimizing your business and warehouse locations.

If you work hard and are consistent, the building material supply business is a great money maker especially in cities constantly developing cities such as Portharcourt, Abuja, Asaba, etc.

Get your building materials business plan

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