One of the fastest growing small to big businesses in Nigeria today is the retailing of DVDs and CDs. One this for sure everyone loves to see a movie, a musical video or listen to a CD we use it to relax and bond with friends and family worse of all with the introduction of seasonal episodes, movies which are quite becoming additive these days.
I know a friend of mine who sought solace in the embrace of a seasonal episode movie instead of preparing for an interview which was to take place the next day. See how additive seasonal episode movies can be.
So starting a DVD and CD sales business of your own will most definitely give you huge cash and you have the possibility to strike Gold with low investment capital.
Do you know you can purchase a DVD or CD at the rate of N50 in Lagos, Onitsha or Aba and then sell for N200 or more in your respective location? That is N150 in profit!
Do you know that you can rent out a DVD like 10 times before it finally gets trashed? Rental rates are between N60-N100x 10times, depending on the location, so you will have made N1000 on a movie you bought N60.
Smart business right? Well, without wasting more of your time, here are some tips to put in place when considering how to start a DVD Business in Nigeria.
Get all the appropriate local and state business licenses and permits. This includes registering a business name from the Corporate Affairs Commission Nigeria and getting licenses to operate from your states’ DVD Marketers Association.
Visit an already operating DVD Business and take note of the following: movie inventory selections, the layout of the business. Seek advises from business owners; find out where they buy their movies, logistics, challenges and how they have tackled them etc.
Location. Make sure that your DVD business is situated in a place there is consistent human traffic. Shopping malls, student hostels and busy streets are perfect ideas.
Facility Requirement. Before purchasing your product (DVDS/CDs) make sure that your store has the following basic equipment in place: TVs, DVD players, DVD lens cleaners, Wall display racks, storage shelving, ceiling fan/AC, sound system with good speakers.
Capital In my opinion, you can start your DVD business in Nigeria with about N100, 000. 00. It should cover for everything listed above and you will still have enough to buy your DVDs and CDs Do market research. Locate reliable DVD distributors that you can buy your DVDs from. If you are regular with them, they can be giving you products on credit or with a discount.
They will also help you get new release DVDs when they are available. Another advantage of having a regular distributor is that you can always change faulty products and structure a credit sales agreement with your regular distributor.
Hire and train your employees. The people you hire should keep good records of sales, multi tasking and also keep an eye for shop lifters.
Advertise your business. Handbills, business cards, word of mouth, local newspaper, radio and TV are ways to advertise your DVD business. You can also use social networks like Facebook and twitter to publicize your business.
The DVD business is really a money making venture in Nigeria.
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