In this article, you will learn how to start a plumbing materials business in Nigeria. You will also know other things about the capital needed to start the business, whether the business is profitable in Nigeria and the most common plumbing materials, tools or equipment (accessories) sold in Nigeria and more.
Plumbing materials business is now becoming a lucrative business in Nigeria due to the recent development in the real estate business in Nigeria. For these reasons, we now have plumbing companies and individual plumbers that are into the installation and repair of plumbing in buildings.
This increase in demand for plumbing services has brought a corresponding increase in the demand for plumbing materials especially when it comes to replacement of pipes and other plumbing materials.
Is Plumbing Materials Business Profitable?
Plumbing materials business is a profitable business in Nigeria because there is a huge demand for plumbing materials, tools and equipment. These plumbing materials, depending on their qualities, are used to run water to homes, and offices safely.
Whether you go into plumbing materials business in Nigeria wholesale or retail you can make good profits from the business as long as you know the right markets or dealers to buy your plumbing materials from.
Capital Needed to Start Plumbing Materials Business
The popular types of plumbing materials business in Nigeria are the retail plumbing materials business and wholesale plumbing materials business. The wholesale plumbing materials business is more capital demanding than the retail.
To start wholesales plumbing materials business in Nigeria you will need a starting capital of N1M – N2M and to start a retail plumbing accessories business in Nigeria you will need a starting capital of N500,000.
Plumbing Materials to Sell in Nigeria
Plumbing materials and tools vary. They could be made in copper, iron, brass, rubber or plastic. The most common types of plumbing fitting based on demand in Nigeria are rubber and plastic. There are plumbing materials that are sold in the world today but the most common ones sold in Nigeria are:
5. Mechanical Sleeves
13. Saddle tees
19. Clean outs
20. Combo Tee
How to Start Plumbing Materials Business in Nigeria
Here are steps on how to start plumbing materials business in Nigeria.
1. Write a Business Plan
The first step to starting a profitable plumbing materials business in Nigeria is to write a plumbing materials business plan. This is very vital especially if you are investing huge start-up capital into the business or you are going into the business as a wholesaler.
Many to-be-entrepreneurs underestimate the use of business plans in starting up a business. They feel it is not important especially in an underdeveloped country like Nigeria but I will tell your business plans are important no matter what.
So you need a business plan for your plumbing materials business in Nigeria if you really want to stand out from other plumbing materials businesses in the market. There are different ways you can get a business plan for your plumbing materials business in Nigeria.
You can get it by simply buying online, getting a professional to write for you based on the capital you have or you can simply write the business plan yourself using a business plan template you find online.
2. Get the Start-up Capital
Capital is very important in this business as it is not a business you can start without capital. Depending on the kind of plumbing business you want to start in Nigeria, you need on average N500,000 to N2,000,000.
This money cannot be borrowed as it can be bad for the beginning of your business. This means that whatever money you are putting together to start your plumbing materials business must be your money. The minimum thing you can do is to ask for financial help from family and friends – those you know will willingly donate to the starting of the business.
3. Rent Shop to Sell Materials
The cost of renting a shop in Nigeria today is relative. It depends on the state you want to start the business whether it is an urban state or rural state. To start a lucrative plumbing materials business in Nigeria you need a big shop.
This shop has to be able to contain all your plumbing materials, especially the most expensive ones to safeguard them from thieves. However, due to limited shops in Nigeria and the fact that many shops are small, many plumbing accessories businesses now rent any shop but they create space outside where they can display other plumbing materials.
For your plumbing materials business to be able to automatically attract customers you need to make sure your shop is on a major road.
4. Buy the Plumbing Materials
There are different shops and markets where you can buy your plumbing materials in Nigeria. But if you are going into the business as a retailer you must buy your plumbing materials from a wholesaler to make your prices cheap.
From these markets you can buy your plumbing materials and get them transported to your shop. Some suppliers deliver their goods for free if you buy plenty of plumbing materials while some do not, no matter the quantity of goods you buy.
It is left to you to know those you want to buy from and why you prefer buying building materials from them.
5. Attracting Clients or Customers
Attracting your first set of clients or customers can be quite difficult as a new business owner. You need to know this so that you will not be over excited. But it is not difficult as long as you know we’re your customers and you know how to approach them.
Plumbing business is under the real estate business and building materials business. This means that you will have to go to real estate developers, bricklayers, plumbers and tell them the benefits of patronizing you. Why should they buy plumbing materials from you?
You might need to send proposals especially if these companies are big companies so send the proposals. Asides from this, you will also need to tell family and friends about your business and the advantage of them patronizing you.
6. Making Profits from Plumbing Materials Business
Making profits can also be difficult as a plumber in the plumbing business or plumbing materials business in Nigeria but there are few things you can do to start.
1. Make sure you buy your plumbing materials at the cheapest prices. If you look very well there are suppliers that can sell you building materials at the cheapest prices you need to locate these suppliers and buy from them.
2. Sell your plumbing materials to real estate companies. It pays because they buy in bulk unlike freelance plumbers. This will yield more profits for you easily.
Plumbing materials business or plumbing accessories business is a lucrative business in Nigeria for those that really take their time to do their market survey before going into the business.
It is one of the businesses that will continue to make huge profits if you know how to adjust prices easily when the cost of goods goes down and the cost goes up.