Today, Real Estate construction business in Nigeria is becoming something everyone is venturing into in order to generate cash flow. If there is any business in Nigeria that is truly lucrative and extremely profitable, it has to be Real Estate business in Nigeria.
Most of the top Millionaires in Nigeria are real estate investors which makes it an amazing business to start. It has been said that more millionaires have earned their first million from real estate development than any other industry.
I believe you have come across many real estate companies in Nigeria, I could remember some weeks back when Mercy Aigbe recently started her real estate company and know she is making enough cash from it, one thing about real estate its surely going to generate you cash and its not a risky business.
Globally, the Real Estate business is the most prominent and safest business anyone can go in to and make huge profits in return. This is because the sector mirrors or rather shows the viability and stability of any economy.
So let’s get started and see how to startup real estate construction business successfully.
How To Start A Real Estate Construction Business In Nigeria
First let’s take a look at this…
The profit potential in real estate business in Nigeria is huge. For example, a plot of land in Ikorodu sold for ₦500,000 in 2011 appreciated to ₦3 million in less than three years.
Can you see real estate business is really worth investing into today.
Africa is home to six of the world’s fastest growing economies. It also has the world’s fastest growing population which is expected to reach 2.3 billion in less than 40 years.
Where will all these people live?
It’s no surprise then that Africa’s richest man, Nigeria’s Aliko Dangote, has built a multi-billion dollar fortune from cement – one of the most important and hot-selling building materials on the continent.
Across Africa, entrepreneurs, investors and governments are spending billions of dollars on real estate projects in a bid to satisfy the huge and growing demand for residential and commercial accommodation.
Write A Comprehensive business Plan
The first thing to do to start any business is to write a good business plan which is the root to become successful and show how dedicated you are in your industry. business plan shows you a clearer vision of what you are getting into, if you are not good at writing business plan you can hire someone to do that for you by seeking a professional business consultant.
A business plan is a written document that has all information about how the business will run what services to offers and marketing strategies and it can be updated anytime.
You can check out business plan templates pdf on search engine so you understand more on what it include.
Incorporate your Business
After preparing your business plan the next thing is to incorporate your business, the major thing to do is getting your business registered with corporate affairs commission (CAC), because most investors will want to work with a company not individual. You can check the official CAC website on how to register your business or meet a lawyer or any legal business that runs such to put you through.
Create An Official Website
Showcase your business to the world, get more customers. You can check out Rivasult they can help you design a Responsive website for your business. Today website plays a very important role in every business and you don’t want to miss that.
Developing your Products and Services
You need to map services you wish to offer in your real estate construction business and also products you wish to sell, lot of investors always create products or services that stand out from one another so ensure you do that in other to get the right customer.
Here are list of building construction materials you might find useful:
- Roofing materials
- Plumbing materials
- Steel & metal products
- Electrical materials
First Steps For Your First Project
- Explore the real estate market and assemble your team of professionals.
- Think long and hard if this is the right time to start your company.
- Pick the easiest and smallest project you can make money on for your first project and do not expand it no matter what anyone says. The first project is your university in becoming a constructor. Expect things to go wrong, learn from them, and plan on your second project being your first truly profitable project.
- Suck in your gut and go for it, going along the basic steps outlined above.
Take a look at the steps listed above, now its time to make hay and start a successful real estate construction business in Nigeria.
We would love to hear from you about your successes, challenges, advice and questions. Do not forget to leave a comment in the section below and share this opportunity.