How Lucrative Is Battery Business in Nigeria

Automotive battery is widely used for starting, lighting and ignition purposes in automobiles. These batteries also provide voltage supply to vehicle accessories such as radio, music players, air conditioners, wipers and charging plugs.

Increasing vehicle production coupled with rising adoption of vehicle electrification are anticipated to be the major factors that will create vast opportunities for key players in automobile lead acid battery market. Automotive battery market size is expected to reach USD 23.5 billion by 2024, growing at a compounded annual growth rate (CAGR) of five point seven percent (5.7%) during the forecast period 2016-2024.

The sales of batteries have good prospects in Nigeria, especially in wholesale. The country’s vehicle spare parts market is the second largest in Sub-Saharan Africa in terms of product importation. With over 40% of Nigerians owning a car and around 700,000 vehicles sold yearly in Nigeria, you can be sure of making frequent sales doing this business. You can make ₦2.2m to ₦3.5m monthly, selling them to car owners, transport companies, and retailers.

Market Demand: Car batteries are in demand in Nigeria and would make huge sales year-round. We recommend stocking up your store with batteries from America, Europe, Korea, and Japan, as they last longer than those made in China. Bosch, Exide, Solite, ACDelco, and VARTA are the best-selling car battery brands in Nigeria due to their resistance to failure.

Startup Costs

To venture into car battery distribution in Nigeria, you need at least ₦4m to rent a space, get your initial inventory, and run your business for a few months. Note that the amount required varies based on several factors, especially your initial inventory size.

Here’s a rough estimate of how much you need to start:

Large store/shop: ₦150,000 – ₦300,000 (vary depending on the location, size, and rental/lease agreement)

Initial inventory: ₦3,000,000 – ₦7,000,000

Transportation costs to warehouse: ₦100,000 – ₦300,000, depending on the supplier’s location

Salaries and wages: ₦50,000 – ₦75,000 monthly per sales attendant

Car battery selling business is simply the buying and selling of car batteries. In this business, you do not need to manufacture this battery, all you need to do is buy low and sale high. Car battery selling business in Nigeria is very lucrative and recommended to any persons  who want to venture into a business. Once you know where to get it at a very cheap price you can sell to people and make double of your profits. Take for example if one battery you bought is sold for 30,000 naira, you can buy them in bulk and resale for 40,000 to 50,000 naira.  Calculate for 50 pieces of battery, it is a huge amount of money.

Provide excellent customer service - Offering exemplary customer service is one of the best ways to stand out from the competition and build lasting relationships with customers.

Stay informed on industry trends - Keep up with current trends in the battery industry so that you can stay ahead of the curve when it comes to meeting customer needs.

Be innovative and open-minded - Constantly strive for innovation and never be afraid to take risks in order to stay competitive.

Keep an eye on performance metrics - Monitor key performance metrics such as sales, profits, customer feedback, etc. so that you can adjust your strategies accordingly.

Every successful business venture starts with planning. Make sure you have the financial resources and knowledge to make it happen. Ensure that you research the market and develop an understanding of what is required to start a business. This includes registration, permits, banking, insurance and any other compliance related paperwork or licenses you may need.

Get our training package on how to set up a lucrative  Car Battery business in Nigeria. The body of this work is formed from consulting experienced and relevant people running the Car Battery business, to get first-hand information about the success secrets and marketing strategies deployed to achieve business success.

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