Making Fortunes From Iron Rod Supply Business

Iron rods are used in the construction business sector to build factories, residential homes, industries, commerical outlets, markets buildings and large worship centres.

It is a major equipment in the real estate sector that cannot be downplayed due to the major works it is used for in casting, erecting and in correcting structural defects of buildings in Nigeria.

Hence, it’s a flourishing business whose returns on investment is huge.

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You can supply iron rods as a business in Nigeria and this will tell you how to start. Nigeria produces iron and imports as well. However, the imported ones in Nigeria are more costly.

REQUIREMENT TO SUCCEED IN IRON ROD SALE BUSINESS
Get a Business plan
How many rods do you want to supply? How do you transport them? What are the starting costs for this business? Where do you locate your warehouse? Your business plan should answer the questions above. It should contain all the items you need to start the business.

Get a Warehouse
Your warehouse for storing the iron rods should be accessible to your customers. It should be large enough to store your iron rods. Locate your warehouse where people can see it.

Purchase Iron Rods
Now it is time to buy the rods and fill your warehouse. It is better to buy from the companies that produce the steel in large quantities. However you can still buy from other places in large quantities.
25mm rods- a length is around N7000, 20mm rods- costs round N4000 for each length,16mm rods- is around N2000 for a length, among others.
Join Partnership with Steel Making Company
Go to suppliers and major producers of indigenous steel making companies and partner with them to enable you buy from them at a fair price if the steelmaking companies are not close to you. This will enable you to cut down on cost and risk of buying substandard equipment and tools
Get Your Business and CAC registration
Register your business with a business name so that people will know they are not dealing with a fraudster. You can register with the Corporate Affairs Commission.
cate Real Estate & Devt Expert Sometimes your clients may not have to locate your warehouse before they buy from you, you have to go out and meet them. Your potential clients are mostly industrialist, realtors and property development experts in the Construction sector. Find out where they are and sell your service offerings to them.

Marketing
You may have to get someone who is honest and accountable to stay in your warehouse as the storekeeper or you are the person staying.
Bring out the rods to be visible to those passing by. You can start a website where you talk about your iron rods and how you supply them.
You may buy a truck for moving these rods to your clients when they ask it. However you can hire if you don’t have a truck yet, but you will always need a vehicle for moving the rods to site or elsewhere.
Irons of 16mm and lesser in diameter are more common in the market and are in more demand because of their common use.

Promptness in supply
This is crucial in this iron rod supply business. Ensure that the products get to the clients on time. Remember to buy safety kits and equipments. Maintain the vehicles and service them to be ready to supply.

Prospects
Iron rod supply business is one of the businesses you can do in Nigeria that will flourish because it entails everything responsible for construction business. It is capital intensive and largely profitable. You need a business guide to overcome the risk and expected losses in the business.