Today we are going to show you a business on how to make at least N100, 000 monthly that involves taking stress off retail store operators. All you have to do is buy fast moving house-hold items in bulk and resell with a very good margin.
There are hundreds of retail store or shop operators existing in the marketplace today. While some operate on medium sized scale, others operate on a small scale. They deal in scores of fast movable items such as torchlight, toothbrushes, polish, tooth paste etc. Now, because they deal in fast moving goods, they tend to restock almost every week or two weeks. This means they must get to the market as many times as possible.
The only way that stress can be taken off is when a supplier gets all the items on their behalf and delivers or resells to them at their doorstep.
The demand for this service business is high because majority of the population wants to cut costs on transportation and reduce stress. There is room for you to do this business because there are hundreds of hops and retail stores all over Nigeria and new ones are springing up real fast.
The benefits of running this service business
The products you deliver are fast moving products. It is a business with a steady market. You can also manage as many retail customers as you wish. Your money is determined by the number of retail shops in your database. This business also provides you the opportunity to buy bulk products directly from importers for cheap and resell at good margin.
You do not need to rent a warehouse though, unsold products and items can be kept safe at home.
What is the Start-up Capital?
The startup capital is minimal but it depends on you, and how much you will want to start up with. You can start the business with N20, 000 guaranteed.
How to source for retail operators for supply
You can search for mini-stores and supermarkets that exist within your neighborhood to source for clients. Tell them you can save them the stress of going to the market to restock their shops. Any mini-store or supermarket would buy the idea of convenience and would want you to supply them products and items.
Where to make wholesale purchases before reselling
You can make wholesale purchases from the International Trade Fair market along the Lagos-Badagry Expressway and the popular Idumota market on the Lagos Island. You can start with few purchases like buying half a dozen of various household articles and then graduate into buying cartons.
Knowing what kind of house-hold articles to supply
To make a success in this business, you have to give the customers what they want. The best way to know is from the store owners. Ask them what product moves quickly in their area. Knowing this will show you their immediate product supply need.
Some of the articles you can start with include: super glue, electric bulbs, tooth brush, assorted batteries, shoe polish, air fresheners, handkerchiefs, cello tape, biros etc.
How to deliver products to clients
Delivering products to the doorstep of clients have always been a winning business approach. The best option is to have a delivery vehicle or car. It could be a rented one or your personal car.
The profit potential in this business
The margin in retail supply business is not enormous. But to make it big, the secret is to ensure you have a huge demand on all items. You must work hard to increase your client base. This will reward your efforts in terms of turn-over.
For example, a toothbrush pack cost N300 wholesale. You sell it for N350 and pocket N50 profit. But if a customer buys 5 packs, you will have N250 profit. Now if 50 customers buy 5 packs each of the items, you will earn N250 X 50 which is N12, 500. F you make N12, 500 margins for 10 packs you will earn N125, 000. And this is just for one item alone.
The secret of success in this business is hardwork and commitment. In the long run you will make it big.
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February 1st, 2012|
Mr. Asemota;
Thank you for that enlightening article. I would like to talk a bit more about this business. If you can please contact me by mail on mrizce at yahoo dot come. Thank you.