How To Start A Car Dealer Business In Nigeria
Looking for a lucrative business to start in Nigeria, I believe you have found one. The car dealer business is inclusive. Due to the population in Nigeria, vehicles are manufactured to help transport goods and services. There are many car owners in Nigeria and many are still buying. In some developed states like Lagos, Abuja, and Port Harcourt, the number of people that have cars is uncountable. You see why you should consider starting the business.
You may not understand how profitable it is to be a car dealer. You can become a company’s franchise i.e by supplying the model cars to them. Transport companies might be patronizing you even working-class individuals and travelers are tired of using public transport.
Don’t panic about the processes to start the car dealer business, you are at the right place. In this article, I will provide you with steps on how to start a car dealer business in Nigeria.
Can I Make Money As A Car Dealer?
Yes is the shortest answer. Starting a car dealer business has turned many people into billionaires. They make ends meet through the profit they make each day. Suppose a car is sold at the rate of 3,000,000 which depends on the model and then you make 4 sales per month. What you will have for example if you sold with 150k per car is, N600k monthly earnings.
How To Start A Car Dealing Business in Nigeria
In every business, there is a strategic approach to them. Below are the 6 guidelines on how to start a dealer business in Nigeria.
#1. Have A Business Plan
Every business requires a plan to make it flourish. Plan out how you can run the business successfully. Check out the cost, the environment, the profit, the requirements, etc. With this, you will know the best approach that suits your demands.
#. Have A Capital
This capital is used to finance the business. You need money to purchase cars, pay for the necessary license, get a plot of land or hire a garage where you can display your sales, etc. Once you have your capital ready, starting a car dealer business will not be a problem.
#3. Select The Right Type Of Car Dealership
We have different types of car dealerships like new car dealerships, used car dealerships, private sellers, and many more. With this, you will know the one that you prefer. You checklist your capital and select the one that suits your desire.
#4. Pay For Car Dealership License.
Once this is done, you will be certified and authorized to sell any model of car. Your business will be known to companies, industries, firms, schools, and individuals who will be there to patronize you always.
#4. Buy Cars
This is the most important step to take to start a car dealer business. Purchase your cars both cheap and expensive ones so that your customers will vary i.e both the rich and poor can patronize you. Not only that, get the used and new cars ready because some individuals prefer used cars to new ones while some don’t.
#5. Get A Plot Or A Garage
This is where you can display your business. Let it be in the heart of the town, not in rural places. Get a large and comfortable place where you will be getting customers regularly.
#6. Advertise Your Business
Applying the above-mentioned steps without advertising your business will only attract a few customers. With that, you will be making little profit. Get a flex and fix it around the environment you are making sales. You can post your business online and get more customers who aren’t living around you.
Registering your business name or company is very vital for this business, imagine you secure a dealership ,and you don’t have a government certificate to show you are truly and genuinely into this business, if there is any problem tomorrow how will you defend your means of income? registration with cac gives you extended protection from a lot of problems, and exposes your business to foreigners who will like to partner with you. To say the least registration of your business helps you when doing business with customs , if you are an importer.contact cac accredited agent today.
Nigeria is one of the most populated countries in Africa filled with many industrious citizens. Many individuals love purchasing cars to make life easier for them when it comes to the transportation of goods and services. They will patronize you at all costs. There are steps mentioned that will help you become a car dealer, follow them