Generator rental service is another suitable business opportunity in Nigeria.
Few individuals think about it.
Moreover, the individuals who do are making good money from the business at this very moment.
They are renting out their generators to customers for cash rewards.
The perfect generator for this business is the enormous diesel generators.
Beginning the business is very straightforward.
In terms of electricity generation.
A generator is basically referred to as the device that converts to electrical energy.
From mechanical energy for the purpose of using it in an external circuit.
The different sources of mechanical energy are hand cranks.
Internal combustion engines, water turbines, gas turbines, and steam turbines.
The reverse conversion into mechanical energy of electrical energy is completed by an electric motor.
Thus generators and motors have several similarities.
Several motors can be mechanically driven in order to produce electricity.
And frequently produce acceptable manual generators.
With the global demand for reliable and uninterrupted power supply rising at a significant rate.
Generators are being touted as the most reliable medium for power backup in remotely located cabins and buildings, construction sites, hospitals, data centers, and industrial buildings.
The growing demand for uninterrupted supply of power is expected to promote the adoption of generators across several industries.
Power outages and voltage drops have an adverse impact on the speed of the industrial processes.
Moreover, they lead to the malfunctioning of equipment.
Due to which generators with various power rating are often demanded by industries for supporting specific machines.
Generator Business Tips
A 30KVA soundproof diesel generator generates about $50-$80 (N10, 000 – N15, 000) a day.
Moreover, considering the way that it generally goes for bulk time hire, steady profits for a considerable length of time is very achievable in this business.
Therefore, N10, 000 – N16, 000 x 30 could earn you N300, 000 – N480, 000 month to month for now!
This business is genuine and as of now working for the individuals who know how to go about it.
What Does It Takes To Go Into Generator Business in Nigeria?
1. Generator Business Tips: Find your target market
Who are your most likely customers in this business?
Anybody needing enormous generator and yet would prefer not to get one around then.
Your greatest target market is construction.
Construction organizations make use of these generators no doubt.
In addition, regardless of what number of they have, they can never be sufficient for them.
This is especially seen at the pinnacle of construction period, for the most part during the dry season.
Others are Oil servicing firms, government offices, and so forth.
Get imaginative in your marketing and ensure you converse with as many customers as you can.
2. Generator Business Tips: Purchase Generators
Acquire a few Diesel Generators at the beginning, perhaps two soundproofs and one non-soundproof.
I got one as of late for my office use at the cost of N1.7million. So plan N1, 700,000 x 3 = N5, 100,000. Open body (non-soundproof) is very less expensive.
You can additionally get it less expensive by requesting from China through Alibaba.com you many get the entire three for N3m.
That is all you require for the time being.
When you have, your generators set up, approach the organizations with your marketing proposition.
And make an advert of generators for contract. Cool business, cool cash!
3. Generator Business Tips: Sales
Generator sales business can be an awesome method for sacking your boss, getting financial independence and staying happy for life.
The need for Electric Power generators is always developing, particularly in Lagos, Abuja and Port Harcourt.
As long as individuals require power to maintain their lives and business, this business will be in vogue.
I will impart to you useful routes on the best way to approach setting up your Generator sales business in Nigeria.
4. Generator Business Tips: Draw Up a Business Plan
A business plan is important to reach your goal in this business.
Your business plan must include your required capital and conceivable degree of profitability.
It ought to demonstrate your marketing procedure and your legal structure.
5. Generator Business Tips: Locate a Suitable Site
If you reside in Lagos or any part of Nigeria, Electric Power generating plants market at Trade Fair may be a great area.
You can site your business in the heart of the city, where there are more vehicles and activity.
Put resources into your business. Give it a beautiful look.
Think outside the box. Set up a pleasant sign over your area.
6. Generator Business Tips: Get All Necessary Permits
In a few states in Nigeria, you may be required to get some form of license, from either the state or your local government.
You ought to belong to the professional body of your business.
If there are any around your area.
Shield your business from pointless punishments.
7. Generator Business Tips: Look for a Good Supplier
Visit importers of power generating plants in their distribution centres/ware house.
Compare and contrast brand against brand.
Build up a decent association with a trusted marketer.
After some visit to the market, you can ask your provider to waybill your next goods.
8. Generator Business Tips: Associate with Customers
Contact all car owners you know in your neighbourhood.
Loved ones are additionally commendable prospects in the beginning. Publicize, go on the radio, newspaper, even on social media.
Talk to anyone and everyone in.
Print flyers that contain your business name, telephone number, email and other contact points of interest.
Instructions on How to Become a Generator Technician
9. Generator Business Tips: Learn the Trade
To become a generator specialist, you have to learn.
For Low Income earners, the common method is to apprentice under somebody.
They serve the specialist for a predetermined period not surpassing 2 years.
Other ways include online courses, tutorials, and specialized workshops.
There are a lot of colleges and technical schools that offer certificate courses.
10. Generator Business Tips: Become a generator Technician
- Become an Apprentice
- Purchase online Courses
- Read Tutorials
- Attend Technical Workshops
- Study at Technical school or College
- Get a University Degree in Engineering
11. Generator Business Tips: Conduct a Survey
Direct a study of your territory including a feasibility study.
You additionally require a business plan and market analysis.
Site the business in regions of exceptionally poor power electrical supply.
Nigeria has a huge demand for generators; therefore, your business will flourish.
12. Generator Business Tips: Site for the Repair Shop
Locate your generator repair shop in a thickly populated zone.
Best areas are in low wage and working class regions.
Ensure your repair shop is in a residential location.
The shop ought to have a safeguarded storage area for the generators and work tools.
13. Generator Business Tips: Register the Generator Repair Business
Most repair shops are small businesses with just an expert and students.
Register the business with the corporate affairs commission as a sole proprietorship business.
You require a tax identification number and trade permit.
14. Generator Business Tips: Get the Job Description
Generator repairers perform various types of services.
They check the electrical framework, segments, and engine and do general maintenance.
It will also include stocking generator parts, complete testing, and generator maintenance.
They check wires, circuit breakers, utilized oil investigation and the generators principle associations.
Generator repair specialists do lots of out calls and onsite maintenance.
Read also: Top 31 Business Handling Tips in Nigeria
15. Generator Business Tips: Get the needed Equipment
Buy the instruments for the trade, for example, circuit breakers, spanners, voltammeters, screws and nuts.
Other equipment’s are carburettors, spark plugs, wires, spanners and pincers.
Generally after investigating the repairer buys the part that needs changing.
16. Generator Business Tips: Funding the Enterprise
You will need money to rent a small shop, buy equipment, advertisement and marketing.
Personal savings, friends and loved ones can be sources of capital.
Start-up expenses is not much for little repair shops.
Other sources for capital include thrift and credit societies or micro finance loans.
17. Generator Business Tips:Join an Association
Despite the fact that joining an affiliation ought to be at your choosing.
Some trade association will not take no for an answer.
To maintain a strategic distance from pointless bothers get some answers concerning affiliations and gatherings in your general vicinity.
18. Generator Business Tips: Marketing
A decent place to promote your business is through online-classified sites. Such sites offer both free and paid advert openings.
Utilize traditional techniques, for example, printing flyers, business cards and signage boards and banners.
A greater part of your customers will come through referrals.
Ensure you offer great quality services to take advantage of recommendations and referrals.
In spite of the fact that your objective market is locals, repairing company generators is beneficial.
You can construct a site or blog focused at your target customers.
Sites are a powerful approach to get new customers.
19. Generator Business Tips: Include a Side Business
Since you are a generator expert, why not stock new and second hand generators.
The side business will ensure regular wages and better overall revenues.
Source your generators from wholesalers, second hand markets and customers.
20. Generator Business Tips: Regional Outlook
The demand for generators is significantly high in developing countries.
Owing to rapid industrialization in these countries.
The urbanization in these countries has also encouraged switching towards cleaner sources of energy for both utility and backup uses.
This is expected to further create lucrative opportunities for sales of generators.
21. Generator Business Tips: Market Potential
Leading companies are striving to establish a dominant position in the market and are competing aggressively against each other.
The demand for generators is also high from the automotive sector with the extensive rise in automotive sports activities.
However, the growth of the market is likely to negatively impacted by the by limited capacity of power generation.
High operating and maintenance cost.
And rise in transmission and distribution expenditure.
The players in the market are further likely to face challenges from the rise in captive power plants.
Improving energy storage systems, and strict government regulations.
However, players can capitalize on the opportunities arising from electrification of remote.
And rural areas in developing countries and the introduction of inverter and bi-fuel generators.
Generator Business Tips
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Or, you want us to help you set up this business, kindly contact us.
Otherwise, Please check out these other business ideas you can do.