As captioned by Entrepreneurng report, there will always be automobiles available to let people get about swiftly on land. There will also be some who want to purchase them.
Nigerians continue to purchase vehicles for a variety of purposes, according to statistics from the National Bureau of Statistics (NBS). According to 2017 NBS data, 11.4 million automobiles were on Nigeria’s roads at the beginning of that year. By 2018, the figure had increased to 11.6 million, a rise of around 200,000 automobiles in a single year and still trending in 2023.
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These are the actions you can take to create a successful vehicle retail company:
1. Choose the Kind of Vehicles You Will Sell
Both new and old cars are for sale. Choosing one of these options will define the steps necessary to set up and manage a car dealership.
Your initial costs will be significantly less if you plan to sell old automobiles than if you plan to open a new car dealership. Your profit margin will be smaller, which is a drawback. The expense of opening a new auto dealership is higher, but they often have higher profit margins.
2. Purchase a business plan
A business plan includes descriptions of the company and what it does, what it sells (cars), its target market and prospects for that market, as well as the resources you’ll need to launch and run the company throughout its early stages (equipment, employees, etc.) and their associated costs.
In addition to serving as a helpful resource and roadmap for you as you develop the firm, this document may be needed by lenders if you apply for funding from them.
3. Set Up in a Good Spot
In Nigeria, there are a lot of auto dealerships on or near busy highways and important roads. There’s a rationale for this. In addition to making it easy for potential consumers to enter and leave your establishment (especially if they’re driving), you should also be visible to them.
4. Get a license to sell cars
To be taken seriously as a real vehicle dealer, you must have a license for operating an automobile dealership. These licenses may be issued by certain state government organizations; in Lagos, this is the Motor Vehicle Administration Agency (MVAA).
5. Connect with Vendors
Join forces with auto importers to help you import new or moderately used vehicles that you will sell at your dealership. You will have to pay for the imports, so remember to include that expense in your initial budget.
6. Bid on Vehicles
This is another method of obtaining the vehicles you’ll be selling. You have the opportunity to purchase vehicles at car auctions for comparatively inexpensive costs. The most dependable auction service in the nation is undoubtedly the NCS (Nigerian Customs Service) e-Auction platform. You must first register on the site before you can use it to bid on vehicles.
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Conclusion
You have the option to connect with potential customers using the internet. Post a listing for your car on a marketplace website like ConnectNigeria Cars. This entails posting images, descriptions, and price tags for the vehicle or vehicles you intend to sell. The phone number or email you include in the advertisement will be used to get in touch with you anyone who sees the website and becomes interested in your cars. By applying all these methods you are on your way to prosperity.
