• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, August 13, 2022
Leadership News
Read in Hausa
  • Home
  • NewsLatest
    • World News
    • ASUU News
  • Politics
  • Business
  • Sports
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
  • Columns
  • Others
    • How-to
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Podcast
No Result
View All Result
  • Home
  • NewsLatest
    • World News
    • ASUU News
  • Politics
  • Business
  • Sports
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
  • Columns
  • Others
    • How-to
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Podcast
No Result
View All Result
Leadership News
No Result
View All Result
Home News Business

Investing In Roof Sheet Business

by Yusuf Babalola
1 month ago
in Business
0
Roof Sheet
Share on WhatsAppShare on FacebookShare on TwitterTelegram

One of the many building materials that spin money, aside cement, is roofing sheets. Roofing sheets has become a cash cow, especially in developing areas where construction are going on daily basis.

According to a roofing sheets seller, Rahman Sikiru, starting a roof sheet business is not challenging, but one needs to have a deep pocket.

 

Initial Capital

To break even, one can start with a minimum of N3million to purchase the roofing sheets from accredited distributors nearest to one environment or straight from the company if one can start with N10million.

 

RELATED

NNPC

NNPC Renegotiates Production Sharing Contracts, Targets N500bn, $30bn Revenue, FDIs

19 hours ago
Interswitch

Interswitch Unveils API Platform For Developers

19 hours ago

Profitability

He says roofing sheet is a straight business, with minimal losses and risk and a very wide profit margin, because people buy in large quantities.

“Now, a roofing sheet sells for N3,000 but one can buy for N2850 from the company. This means, N150 per sheet. The least one can buy to cover a three bedroom flat is 250 pieces. If we multiply that and if it’s a developing area, he can finish 5,000 pieces in one week.”

To this end, Sikiru says one must have gained about N750,000 on the 5,000 pieces within a week.

Another roofing sheet distributor, Muideen Kolawole, says, its a business that needs little or no prior knowledge but basic mathematics calculation.

He says, anyone who desires quick turnover can reduce the product price by N50 and customers will patronise the business.

 

Challenges

The managing director, Plusworld Roofing, Mr. John Igbaifua, urges government to provide foreign exchange for roofing manufacturers to import raw materials.

“Some of the chemicals and substances that we use are imported and the issue of inflation and foreign exchange affects our business at this time. Like every other sector offering goods and services, there is an increase in prices at the moment all over the world and supply chain is disrupted. So, items that should take two or three months to bring in, now takes like six months,” he says.

Another major challenge is the lack of adequate insurance for home users and contractors when there is an accident.

Also speaking, the managing director, Imran roofing, Ayyub Gboyega, says the inflationary trend is affecting the business and purchasing power of most Nigerians, as many cannot afford the increasing cost of roofing sheets.

Gboyega says, “Dollar to naira rate that used to be N300 before is now over N500. Government needs to put in place a policy that ensures an enabling environment for operators.

“Three years ago, the cost of aluminum, which used to be N2, 500 per metre now ranges from N3, 000 to N4, 000 at the building material market due to inflation and foreign exchange crisis.

“Due to customs clearing cost, most dealers would have to add that cost to their selling price. The business now requires huge amount of money for investment.”

Tags: Roof Sheet
SendShareTweetShare
Previous Post

She Can Keep Me, For One Month

Next Post

Reactions As Fireboy Gets Emotional After Performing With Ed Sheeran At Wembley

ANOTHER GOOD READ

NNPC
Business

NNPC Renegotiates Production Sharing Contracts, Targets N500bn, $30bn Revenue, FDIs

19 hours ago
Interswitch
Business

Interswitch Unveils API Platform For Developers

19 hours ago
DMO
Business

DMO Auctions 3 FGN Bonds Worth N225bn

19 hours ago
Minister
Business

Expired Ports Concession Agreement Ready In 45 Days –Minister

19 hours ago
LCCI
Business

LCCI Calls For Efficient Digital Infrastructure In Nigeria

19 hours ago
Foundation
Business

Foundation Trains 79 Widows In Hydrographic Water Transfer Printing

19 hours ago
Next Post
fireboy

Reactions As Fireboy Gets Emotional After Performing With Ed Sheeran At Wembley

LATEST UPDATES

El-Rufai: I Plan To Write Another Book

Insecurity: SOKAPU Blames el-Rufai, Says Gov Should Redirect Political Will To Secure Kaduna

August 13, 2022
EFCC Arrests 2 Clerics, 5 Suspected Internet Fraudsters In Kwara

EFCC Arrests 2 Clerics, 5 Suspected Internet Fraudsters In Kwara

August 13, 2022
How To Find Jobs On Recruitment Board In Nigeria

How To Find Jobs On Recruitment Board In Nigeria

August 13, 2022
NCC

NCC Alerts On Yanluowang Ransomware Threat, Urges Stronger Security  

August 13, 2022
bandits

JUST-IN: 35 Kidnap Victims Regain Freedom In Kaduna

August 13, 2022
Stakeholders Seek Full Power Sector Value Chain Alignment, Not DisCos Unbundling

AEDC Promises Improved Power Supply To Abuja Residents 

August 13, 2022
Take Your Destiny In Your Hands, Kaduna Commissioner Urges  Youths

Take Your Destiny In Your Hands, Kaduna Commissioner Urges  Youths

August 13, 2022
Oshoala Shortlisted For 2022 Women’s Ballon d’Or Player Of The Year Award

Oshoala Shortlisted For 2022 Women’s Ballon d’Or Player Of The Year Award

August 13, 2022

© 2022 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • World News
    • ASUU News
  • Politics
  • Business
  • Sports
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
  • Columns
  • Others
    • How-to
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Podcast

© 2022 Leadership Media Group - All Rights Reserved.