SEMINAR RECAP ON THE TREASURED ENTREPRENEURS ASSOCIATION “TEA” HALL OF WEALTH GENERAL ACTIVE GROUP PAGE…
👉🏼Theme:
❤ Motor Cycle(Okada) Spare Parts Business In NIGERIA….
🎤 SPEAKER/FACILITATOR/DISCUSSANT…
🗣Mr Asuni Adeshola….
TEA Project Director
Good evening ladies and gentlemen..
It’s good to be here again tonight
Let’s set the ball rolling🏃🏾♀🏃🏾♀🏃🏾♀…
Motorcycle spare part business has been in existence for decade in this country and it’s a very profitable business..
Millionaires has been made in this business and are still being made in this business on a daily basis…
This presentation will help you to see the potential in this business as well as assist you with the vital knowledge and how to get started…
We have all kinds of motorcycle around us popularly known as “Okada” which has been adopted as public transportation means…
People prefer to take okada in order to get to their destination faster…
During the late 1980’s Okada used to be for few jobless youths but today the story has changed to include even some University graduate….
Countless of Nigerians hustle to make ends meet with the motorcycle of various makes and brands…
This has therefore created huge business opportunity in motorcycle spare parts business…
The increase in Okada patronage has increased the potential profit in motorcycle spare parts business in Nigeria…
Investing in motorcycle spare parts business in Nigeria
Starting a motorcycle spare parts business is usually in a double fold.
It’s either you are dealing on brand new spare parts or used spare parts…
You decide which type to start with..
FUNDING
How are you going to fund your motocycle spare parts business???
Do you have enough cash at hand????
That is good but if you don’t have enough money,you may consider financing your business through loans….
I will strongly advice Ethical loan from Banks that operate ethical banking operations..
You can also join Cooperatives organisations or Contribution schemes to secure loans to kickstart your business
TEAFORWEALTH can help you in this regard..
LOCATION
Good location is important for this business it works like magic
If you get it right look for an area with much Okada operators
Sometimes bad road could be an advantage to your spare parts business because of the need for spare parts in such places..
If you can open multiple shop within strategic places in the area to capture the market..
Sell your spare parts at a good price to discourage your customers from going to a far place to get the spare parts…
GENUINE SPARE PARTS
Deal on genuine spare parts,your customer base will definitely increase if you are dealing only on genuine spare parts
No one like wasting money on fake spare parts. ..
PEAK PERIODS
Almost every business in Nigeria has their own peak periods
If you are considering your own spare parts business in the rural area,then know that rainy season is your peak period because parts wear off easily…
So know the parts to stock your shop with as against the ones that would tie down your money down for a long time…
GET NECESSARY PERMITS
You need to have licence because your business entails handling of motor oil which is considered a hazardous substance
So back yourself up even if you are in an underdeveloped area because you don’t know who is who….
Insurance cover is also good because no business is risk free
More so you are dealing with what involves the movement of people…
BE PROFESSIONAL AND ADVERTISE
It is important to be good at all times and conduct your business in a professional manner…
As time permits do organise free training and invite Okada people to attend and learn how to be smarter with their okada operation…
Get fliers to promote your business as you go out on regular basis
Always go with your flyers….
COST AND PROFIT POTENTIALS
Motocycle spare parts business is a very viable and a lucrative venture and can be done any where motocycle can be found in Nigeria and in their numbers
You don’t need much experience to start this business…
Most of the needed experience will be gathered once you start the business…
If you can get a good supplier who would be kind enough to have the selling price listed for you for a start
Then you are good to go…
The initial cost of starting the business may be between #750k to #1m, with a shop rent
Follow things up adequately and within 8 months to one year you will be counting in millions….
Like I said earlier if you do not have the financial wherewithal to go solo on this platform or any other business fo that matter we can help you team up with a group of investors and you will still make your cool money and be successful…
Another secret to quick growth in this business is to be getting your goods directly from the importers
You should also be ready to import yourself as soon as the business begins to grow…..
This is where I will drop the anchor for tonight seminar..
Thank you for reading up on tonight seminar……
TREASURED ENTREPRENEUR ASSOCIATION 