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How To Start A Lucrative Generator Rental Business In Nigeria
A power generator is a device that converts chemical or
mechanical energy into electricity. Generators operate on
different energy sources. There are the diesel generators,
biofuel generators, propane generators and natural gas
generators, and they range in capacity from as small as 10KW to
thousands of KW. Generators are used as backup devices in most
areas, but for places where the electricity grid is a luxury,
they are the main source of power for homes, schools, hospitals,
companies, and literally every other organisation where
electricity is needed.
Generator rental business is fast becoming a trend in urban
societies where heavy machinery is used. According to
Transparency Market Research, the global generator rental market
was valued at over $6b in 2022 and has been projected to hit
$10b by 2030 at a CAGR of 5.86%. This is a testimony to how much
power is consumed and more directly, how willing people,
businesses and industries are to temporarily rent power
generators rather than purchase their own units.
In Nigeria, the situation is a little different. The nation’s
economy requires power supply to drive its growth, but the
national electricity grid is far from meeting the national daily
demand for power. Major cities and towns such as Lagos,
Port-Harcourt, Abuja and Benin City, where there are lots of
industrial companies, record the highest market for power
generator leasing in Nigeria. In addition, individual
construction companies, mining companies, drilling companies,
etc. rent diesel-powered generators from 20KW and above.
Business Opportunities In Generator Rental Business In Nigeria
And Across the World
1). Operation Services:
Large capacity generators are used for heavy-duty functions such
as powering massive office buildings, construction devices, and
so on. These generators require expert personnel to operate and
handle them. Although some of the power generators can be
operated by unskilled manpower with little training, it is
highly recommendable to leave the operation to professionals or
individuals trained in the field.
2). Repair And Maintenance Services:
Power generators require constant maintenance and repairs in
order to perform optimally. Repairing and maintaining generator
sets creates employment opportunities for engineers, technicians
and related experts.
3. Transport Services:
Generator retail companies have to see to the delivery of the
generator sets to the companies, individuals or firms where they
are needed. They are often transported in trucks, which need
trained drivers to manoeuvre. Transporting the devices to the
clients require the service of transport workers and the
workforce to move the heavy generators.
4. Safety Kit Production:
Heavy capacity generators used for rental services involve the
use of safety materials. Such materials include insulator
gloves, boots, etc. to prevent shocks and electrocution. The
production of such safety materials creates job opportunities
for the personnel in charge.
Types Of Power Generators
1). Portable Generators:
Portable generators are the common generator types used at home
and in small offices or business sites. They range from a
capacity of 5KW to 50KW.
2). Inverter Generators:
Inverter generators are the types of generators that use
rectifiers to convert AC power to DC power. The electronic
circuit system is much more advanced than the portable
generators, and they can self-adjust to provide just the
suitable KW of energy needed at each point in time.
3). Standby Generators:
Standby generators are the preferred options in mega business
buildings. They do not require setup at each time of use.
Instead, they provide continuous current by automatically
switching to provide power after an electricity outage. Standby
generators use both natural gas and liquid propane.
Employ Labour: A generator rental business requires the services
of various skilled and unskilled personnel for different tasks.
The size of your staff depends on the number of generators
available, among other factors.
The final step in kick-starting your generator rental business
is to create awareness in the locality where the company is
situated. You could use radio jingles, TV stations and other
means available in the environment.
Generators are in constant demand at domestic and industrial
settings due to the absence of stable electricity grid in the
country and continent at large. The generator rental business in
Nigeria can be a lucrative and profitable venture to start-up,
due to its vast market demand and on your ability to build a
wide network. If you’re looking for a lucrative business to
venture into, the generator rental business in Nigeria is a
great option to explore.
The Unique Offering of Generator Rental Services: What sets one
generator rental service apart from another? It often comes down
to the quality and support provided. Reputable rental companies
in Nigeria offer well-maintained, reliable generators, and
services include technical support, maintenance, and prompt
response to ensure uninterrupted power.
Assess the Local Market Landscape for Generator Rentals: Before
you really get into the nuts and bolts of how to start a
generator rental business, it’s best to research the local
market and make sure there are opportunities for your venture to
thrive. Start with some competitive research. How many other
companies in your area offer generator rentals? Chances are
you’ll find several types of businesses that would compete with
you in this area – ranging from hardware stores that rent or
sell small units for residential use, to larger companies
catering to commercial, industrial, and construction projects.
The backbone of every industrial society is a working economy.
However, the economy would be crippled if there is no power
supply for it to operate on. Yet, given the ugly reality of the
unavailability and insufficiency of the utility electricity
grid, power generators become the ready options. The generator
sales business in Nigeria can be a lucrative and profitable
venture to start-up, due to its vast market demand and on your
ability to build a wide network. If you’re looking for a
lucrative business to venture into, the generator sales business
in Nigeria is a great option to explore.
Get our Practical guide on how
to Start a Generator Rental Business
in Nigeria. The body of this work is formed from
consulting experienced and relevant people running the Generator
Rental Business, to get first-hand information about the success
secrets and marketing strategies deployed to achieve business
success.
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