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How to Start Car Accessories Business in Nigeria

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Car Accessories Business in Nigeria

A car is a very important tool in Nigeria because just like other vehicles it moves people from one place to another. However, these cars need accessories to make them look beautiful and to make every moment in the car convenient.

In this article, we will be looking at how you can start a profitable car accessories business in Nigeria, the capital needed, the list of car accessories, and more. Just make sure you read this article to the end to be well-informed.

What is a Car Accessories Business?

A car accessories business is a business where you buy and sell car accessories to car owners. These accessories can be old or new. It depends on what the customers are willing to buy from you. Car accessories are more of a luxury than a necessity to car owners.

This means that not all car owners have accessories in their cars but those that have buy enough to stand out.

Is Car Accessories Business Profitable?

The car accessories business is a profitable business in Nigeria. This is because of many vehicle owners in Nigeria. In Nigeria, the population of vehicles increases every day as more cars are imported through the land borders and ports. All these cars at some point will need accessories just like spare parts.

Despite the fact that cars can be used without the use of car accessories many vehicle owners still buy car accessories for comfort.

Capital Needed to Start Car Accessories Business in Nigeria

The cost of starting a car accessories business in Nigeria is high, which is why this business is a capital-intensive business. To start a car accessories business you will need a capital of at least N1,000,000 to N3,000,000. This capital will be used to buy car accessories, rent a shop, and furnish the shop

Common Car Accessories Sold in Nigeria

There are popular or common car accessories you can sell in Nigeria as a car accessories dealer. Some of these are:

1. Phone holder

2. Carpet spot remover

3. Hanging diffuser

4. Car hooks

5. Chair cushion

6. Trash can 

7. Windshield cover

8. Blind-spot mirror

9. Pet-hair-removing brushes

10. Car seat cover

11. Hanger bar

12. Car charger

13. Auxiliary cable

14. Bluetooth car adapter

15. LED car lights

16. Digital tire inflator

17. Air filter

18. Scratch remover

19. Gap fillers

How to Start a Car Accessories Business in Nigeria

What is the step to start a car accessories business in Nigeria?

1. Write a Business Plan

The first step to starting a profitable car accessories business in Nigeria is to write a car accessories business plan. A business plan is very important in this business because it is a capital-intensive business and you cannot afford to make unnecessary losses.

The business plan will guide you on what to focus on in the business and how you can make money in the business easily. For example, a business plan will help you know where you will be buying your car accessories and how you will be selling them.

Not all business startups need business plans but all capital-intensive business startups need business plans. Read our article on how to write a business plan in Nigeria for more guidance.

2. Get the Required Capital

There is a required capital to start a car accessories business if you do not use that required capital the business will struggle a bit before it can gain its ground. It is best you use the capital stated above and you should not borrow to start the business as this will also trap you from the beginning.

3. Rent and Furnish your Shop

When it comes to starting a car accessories business you need to rent a shop. A one-stop-place where customers can come and buy goods. Depending on your location you can rent a shop in any area or go rent a shop in an electronic market or auto market.

However, it is more profitable to rent a shop for your car accessories business in an auto market than in any other area. This brings more exposure to your shop. To furnish your car accessories shop you will need display shelves and lights. All this will be done by a furniture and an electrician.

4. Buy the Car Accessories

Depending on the capital you have you can be a car accessories distributor/wholesaler in Nigeria or you can simply be a retailer. To buy your car accessories goods at good prices you need to meet other dealers in the business to know where and how they buy theirs.

After buying your car accessories you can now arrange them properly in your shop to start selling to customers. 

5. Get Buyers to Buy Accessories

Getting customers to buy your goods can be very difficult, especially as a seller new to the business. You need to start reaching out at this point. You need to start meeting friends, especially those that have cars telling them about what you sell and how you want them to patronize you for accessories of their cars.

You need to also run adverts, especially a few weeks into the business. These adverts can be online adverts or they can be handbills or posters. The adverts will go a long way in informing people in your area about your car accessories business. Online advertising and handbills will cost you.

However, online advertising is cheaper to run than handbills and posters.

6. Making Profits in Business

It is very easy to make profits from a car accessories business but this might not seem so from the start because the business is new. 

1. You can make profits from your car accessories business by rendering delivery services to your customers. Yes, so many car owners might consider patronizing you if they know that they do not need to come into your shop to buy goods from you before the goods can be delivered to their doorsteps.

2. You can increase profits easily in your car accessories business by selling genuine products. The sales of original products will always bring your customers running back to you no matter how expensive they might be.

Conclusion

The car accessories business is a lucrative business in Nigeria if you are willing to learn and grow the business. Like the saying ‘Rome was not built in a day.’ Learn till you become a master in the business and continue to look for relevant information about the business.

Then you can start importing your car accessories increasing your profits 3 times more instead of buying locally to resell. Please, share this article with someone you feel might need it.

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Ralph Bamigboye is an Accountant. He is the owner of TheInfoWorth.com, NetWorthVerse.com and Finance Naija YouTube Channel. He has helped many individuals to start their businesses and make money online. How can he help you?

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