How to Start a Lucrative Consumer Electronics Dealership Business

You will agree with me that Consumer electronics have become part of our daily lives in most instances. There is no home you cant find one consumer electronic either it’s a television, home theater, dvd, vcd, lcd player and other appliances. But the Consumer electronics industry is a profitable one and this article today will show you how to become rich dealing on consumer electronics.

The consumer electronics industry is a global business. The industry has been witnessing a wave of phenomenal growth. The demand for in-home or in-car consumer electronics has increased tremendously making consumer electronics sales a good business to invest in. Some of the major electronics brands are Samsung, LG, Haier Thermocool, Akira, Sharp, Panasonic, National among a host of others. These are house hold brands that you can sell to the demanding public.

Below is a list of points you need to note to become a dealer in Consumer Electronics:

• You need to run feasibility studies of what the industry looks like before starting this business. You need to approach those already in the business and ask relevant questions to know which brands and products are in high demands. Remember it is what the customers want that you can give to them, they are the reason you are in business.

• Be conversant with existing brands. This business is sensitive to customer demands so you need to know the various hot brands and products in the market. Your vision should be to stock the best brands available today.

• Locate the Nigerian Representatives of Consumer Electronics Brands. Be aware of the majority of these brands have their reps here in Nigeria. It is recommended you buy directly from them than patronizing open sources. Visit them and find out how to consistently get your stock from them. They all have their terms and conditions which are very flexible. There are also a couple of electronic importers you can patronize. Go for manufacturers whose products come with warranty. The brand representatives are always willing to give credit facility to you in a matter of time if your sales performance meets their requirements.

• Be knowledgeable on how to operate electronics because your customer would require you to test whatever product they want to buy.

• You have to decide how much you want to invest as a new entrant into the Business. With as low as N250, 000 you can stock some goods. This cost is excluding of renting of a shop. With an investment of N250, 000, you can purchase stocks consisting of 4 DVD units, 2 14” – 17” Television, 1 unit medium size Home theater, 1 unit Sound System, 5 units Stabilizers, 6 pieces of extension cords. You can make N100, 000 – N120, 000 profit or more monthly after deducting your working capital. Note that it is the market demand that determines what product to buy and sell and also the prices fluctuates due to market indices.

• You should look into renting a shop. It must be big enough to accommodate your initial stocks. Make sure it is well ventilated, and you can install an air conditioner or you can make do with fans to keep the electronics at room temperature.

• Announce your presence in the market. Get your colorful fliers and complimentary cards handy for distribution. Ensure to operate your marketing from a good location and close to your target market. You can even set up a shop online and let people make orders. You should also think about doing classified adverts and think of promotional items you can afford to give, in order to attract patronage and reward loyal customers.

Below are contacts of some Nigerian Representatives of Major Consumer Electronics.
You can visit major electronics importers in Alaba International Market, Idumota, Lawanson and in Lagos International Trade Fair, others include:

• Founai Nig. Ltd, LG Electronics Victoria Island Showroom, 21 B, Akin Adesola Street, Victoria Island, Lagos.
• LG Apapa Center, 11/12 Warehouse Road, Apapa.
• Sims Samsung Digital Convergence Center, 15, Akin Adesola/Adeyemo Alakija Street, Victoria Island, Lagos State
• NEET Nigeria Ltd – Panasonic Authorised Representative Service Center, Panasonic Place, 43 Akin Adesola Street, Victoria Island, Lagos
• Sharp Showroom and Service Center, Plot 1437, Sanusi Fafunwa Street, Victoria Island, Lagos.
• Adebowale Superstors Limited, Pentagon Plaza, 23 Opebi Road, Ikeja, Lagos.

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