How To Start Kerosene Retail & Supply Business In Nigeria: Start The Easiest Business In Oil & Gas Market
Do you intend to start dealing in kerosene business, buying and reselling, or supplying from a rectangular metal tank directly to the retailers or to the final consumers? If yes, let me tell you that you have a good and an excellent decision in what you’re planning to do.
One thing I’m sure about this business is that it’s hard to make losses so far you can carefully measure those capacities that the different customers will be coming to buy.
A lot of people actually believe it takes a heavy capital to start this business, whereas, it doesn’t. You can start dealing in kerosene business at any level you’re financially capable of. If you’re capable of starting with 1 or 2 rectangular metal tanks, you can go ahead. It determines your profitability though.
Meanwhile, I knew about someone who started the kerosene business with 1-2 drums of kerosene and has become so successful today among the kerosene dealers in my state.
It’s a lucrative business in Nigeria suitable for both men and women. And it doesn’t matter whether you’re a graduate or not. The earlier you start a profitable business like this, the better for your future. Government jobs are no longer to be relied upon like in those days. We’re now in a revolution in which everybody needs to be a creative thinker and a business owner.
While planning to start a kerosene business in Nigeria, the following tips may be helpful:
- Determine at what level of the business you’re financially capable of starting
- Be an action taker
- Consult with one or more kerosene dealers in your locality
- Re-invest money into the business and increase capital
- Think of expansion and be successful
- Register your business properly to avoid government harassment
- Employ a sales boy or girl
Determine at What Level of the Business You’re Financially Capable of Starting
Before you start, you must find out how much you’re willing to invest so you may know the level at which you’ll be operating for a start.
For instance, you cannot operate at the same level with someone who is starting the business with #500,000 if all you have in account is #50,000. It doesn’t mean you can’t start with #50,000 so far you’ll make your findings appropriately.
The only issue is that you may not be able to build a rectangular metal tank and still buy some kerosene together once with the sum of #50,000. All you need to do is get a used drum and start with that first. As you move on in the business, you’ll graduate into building a rectangular metal tank. By then, you’ll have started operating on a large scale rather.
Be an Action Taker
Action takers are money makers as you’ve heard initially. To really become successful in this business, you need to be an action taker.
Once you’ve concluded to start this business and you’re convinced that you’ll prosper in it, take actions and start up somewhere whether on a small or large scale.
Some people delay in taking actions while they expect miracles to come naturally. It doesn’t happen that way at all. We make things happen rather.
Consult with One or More Kerosene Dealers in Your Locality
Before you start at all, it would be good if you can create some connections first with other kerosene dealers in your locality. They will give you better business ideas and share with you from their experience in the business so far. You’ll then be able to compare their strengths and weaknesses and go for the best.
In any business you may want to start now, you need to get connected with those who had been in the business long before you started thinking about it at all. They will sensitize you and give you the best orientation you’ll ever need to prosper.
Re-invest Money into the Business and Increase Capital
Once you’ve begun to sell, start saving so you can re-invest into the business. When you work on re-investment, you’ll naturally increase capital and flourish in the business.
This is how you can sustain your business and the only strategy successful business entrepreneurs implement. You must realize that the money you’re making currently is not the kind of money you can afford to spend anyhow but the money you’ll need to keep for business purposes only understanding the fact that time is coming when you’ll start enjoying the fruits of all the labor you’ve been putting in so far.
Think of Expansion and be Successful
As move on in the business, you should start thinking of expansion. Expansion will be necessary as the business matures. This occurs naturally in any business that is well-planned for.
For instance, let’s say you’re starting with a drum of kerosene. By the time you will have sold out more than 10 drums of kerosene, you’ll see every need to arrange for expansion.
I knew of a wretched man who only started with a few gallons of kerosene, but later graduated into drums and rectangular metal tanks. Today, he’s been controlling a number of kerosene tankers which travel round the country to supply kerosene at the various cities where customers are located. So, you’ve learned that great things start small.
Register Your Business Properly to Avoid Government Harassment
Whether you’re starting the business on a small or large scale, you need to realize that a registered business is always free from limitations and government restrictions. You’ll be free to operate freely everywhere you go.
It doesn’t matter to register as a company but must ensure that your business is duly registered so that you can operate legally. This will, of course, help you step up on time in the business.
Employ a Sales Boy or Girl
As time rolls by, you may be in need of a sales boy or girl who will stay at the shop whenever you have reasons to go out. Business naturally expands once you do what you’re supposed to do.
When customers realize that you have a good concern for them, they’ll love to keep patronizing you and will never stop buying from you at all. This is a working strategy for running an entrepreneurial business successfully.