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How to start a Consumer Electronics business in Nigeria
Consumer electronics are either digital or analogue equipment
that are used daily in different homes and offices for
entertainment, communication and other activities. The growing
population of those migrating to urban areas in Nigeria leads to
the high demand of electronics by consumers. Various consumer
electronics equipment includes, Audio systems or home audio,
Flat screen TVs, DVD players, Video games, Telephones, Laptops,
Air conditioners, Laundry machines, Desktop computers, Printers
and scanners, GPS, Digital cameras, Electronic musical
instruments, Cam coders, Wireless devices such as Bluetooth
headphones,
Different popular electronic brands includes: LG, Panasonic,
Samsung, Sony, Sharp, Akira, Haier Thermocool, Binatone
Consumer electronics have become part of our everyday life as
people hardly do without them.
Both the rich and poor patronize and have electronics in
their various homes. The consumer electronics business involves
buying electronic appliances (or gadgets) from a manufacturer,
wholesaler, agent, importer or other retailer and selling it to
consumers for their personal use
In order to start a consumer electronics business in Nigeria,
there are certain steps, planning and preparation that one must
take in order for the business to be successful. The procedures
include:
Electronic business includes a lot of varieties and it is wide.
Before starting a consumer electronic business, one must choose
an area that is suitable according to your interest in the
electronics business. There are several kinds of consumer
electronics services that one can offer, they include selling:
TVs, speakers and home theatres, Fridges, Personal computers and
laptops, Cookers,
Washing machines, Electronic musical instruments, You could
decide to sell a particular type of electronics or open a
multi-purpose store that will accommodate different electronics
There is a stiff competition in the consumer electronics
industry in Nigeria. As a new business, you will need to devise
strategies and measures that will give you the edge over your
competitors. You could decide to offer repairs on goods with
guarantees, offer various discounts in order to boost your sales
Contact the right suppliers
Before starting an electronic business, you will need to have a
trusted suppliers whose products are durable. You can either get
your supplies from wholesale suppliers of from the electronics
company itself. You must ensure that the right choice is made
when choosing a supplier because if there are complaints about
the goods from your customers, it will affect the business badly
Consider importing the goods or being a reseller
As a consumer electronics business owner, you can consider
importing the electronics yourself from various countries such
as China, Japan, Germany, USA, UK or you can register with the
major importers of the products as resellers or distributors.
There are a lots of major importers of electronics in Nigeria
and you can serve as their reseller or distributor if you don’t
want to be an importer
Location: Finding a suitable location for your consumer
electronics business is very important as it increases the sales
of your business. When starting a consumer electronic business,
you must consider densely populated areas and a place with
enough space for a show room of your products. Having a good
location will give you the edge over your competitors
Consult experts in the business
Before starting a consumer electronics business in Nigeria, one
should consult with experts that are in this field because this
business requires lots of planning and preparation. These
experts are individuals that have variety of knowledge and
experience in the consumer electronics business. They include
large owners of consumer electronics stores, wholesalers of
consumer electronics, sales representatives of various consumer
electronics stores other individuals in the value chain of the
consumer electronics business
Consider offering after sales services to your customers
As a business owner of a consumer electronics store, you must
consider offering after sales services to your customers after
they must have patronized your store. After sale services
includes delivering various products to the buyer’s destination,
replacement of products and offering guarantees to consumers on
the products brought. You will need to purchase a delivery van
for your business that will ensure that the purchased goods
arrive at their destination. The after sales services will
increase the patronage by customers and will also ensure that
customers refer your products to others
Build an inventory
When starting a consumer electronics business, you will need to
build up your inventory by acquiring different electronic
products from various brands and manufacturers. You can now
proceed to showcasing these various products in your showroom
for your consumers and clients to see
Starting a consumer electronic business will involve hiring
various staffs that are key to the growth of the business. You
must invest time in selecting experienced and staffs that will
move your business forward. You will need to hire: Drivers for
the delivery van, Sales executives and representatives, tock
managers, Supervisors, Promotional heads, Floor managers,
Security guards, Receptionist or cashier, Customer’s relations
and other relevant positions for the business.
Market and promote your business
When running a consumer electronics business, you must ensure
that you employ certain means in order to promote your business
and attract customers to patronize your product. These are some
of the marketing ideas and strategies that you can adopt for
your consumer electronics business
Launch your business and maintain your reputation
After all the above steps have been taken, the final step to
take is to launch the business and maintain a good reputation
with customers by delivering excellent services and durable
products. You must ensure that your products are affordable,
durable and guaranteed in order to boost your business
reputation.
The electronics business in Nigeria is a booming and profitable
business because almost every home uses electronics and newly
upgraded electronics are manufactured every day for sales.
Starting a consumer electronic business requires knowing the
specifics of electronics you want to sell, having the right
amount of capital and selling standard electronics to customers
will lead to your business to being successful.
Get our Practical Training Guide on How to set up a lucrative
Electronics Business in Nigeria. Our aims are to provide useful
insights into the best practices for importing Electronics into
the Country. It will cover topics such as the necessary steps to
take, the challenges one might face, and the best ways to
overcome them. By the end of this training attendees will be
equipped with the knowledge needed to venture into the
importation business with confidence.
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