5 Positive Effects Of Adopting Time Management Strategies



Every manager wants to be productive because this could determine how fast he or she rises up the career ladder. Productivity has a strong connection to time and the effective use of time can make all the difference. Time management allows you to deploy ideal solutions that will maximize productivity.

It Gives You The Ability To Know What To Turn Down


Deploying a time management strategy gives you the ability to what you can turn down. Engagement takes up time and if you are on a tight schedule, you may be deploying it for the wrong people. It is not about personalities but productivity. As a manager that has adopted a time management strategy, you should be able to know what you can use to occupy your time.

However, you should bear in mind that there are issues that will land on your table that you will not be able to turn down. Your boss may want you to handle something immediately and that thing may disrupt your time management plan for the day. Beyond this, you can use the concept of drawing up a time management plan to tackle such assignments and deliver on them in such a way that will leave him or her impressed.

It Makes You Target Oriented


Having a time management strategy makes you target oriented. It keeps you focused on trying to achieving as much as possible within a given time frame. This is great if you are in a workplace environment where there are always targets and deadlines to meet. Adopting a time management strategy in any sphere of life keeps you focused on the target. Staying focused on your target will influence your interaction and relationship with others.
  • You will know how to relate with people that will help you in achieving set goals.
  • If you are in a workplace environment, it will help you in developing the best time conscious strategy in meeting with given goals.

 

It Gives You Certain Kind Of Friends


Having a time management strategy can make an individual popular in a positive way. We are in a world where people have too many excuses to be distracted and they are looking for those that can help them stay focused. People want to relate with people that will add value to their lives. Being an effective time manager is an attribute they will like to associate with because it is something they will like to emulate.

The same thing applies in a workplace environment as it makes you noticeable in a workplace environment and you will be invaluable in team projects because you have trained yourself to focus on issues. You my quickly become a go to person and this could set you up for greater things. Others would want to include you in their network and this could lead you to meeting people that would be beneficial to you and your career.

It Makes You More Efficient


Following a time management strategy makes you more efficient in your workplace environment and anywhere else. You get to know what to do and when to do it. You focused on the job at hand. A good time management plan will help you to find the balance between completing a project and the cost of the project. In a workplace environment, cost is usually a major issue. Hence, this could be a great tool you can use to find that balance. You can to develop and implement the most efficient means of achieving set goals.

It Makes You Highly Visible


A positive effect of sticking to a time management strategy is that it makes you highly visible. This is advantageous to you in a workplace environment.
  • Implementing a time management strategy will help you get task completed before deadlines.
  • You get more tasks sent your way because of the efficient way you handle them
  • High visibility sets you up to receive assignments that could lead to more financial benefits
The benefits of being highly visible for the right reason apply in every sphere of life. It singles you out for more responsibilities as well as benefits associated with such responsibilities.

Adopting the concept of using time management strategies to get tasks done will make you stand out from the pack. Aside from the personal, it adds social and commercial benefits. People in workplace environments needs to train themselves in cultivating positive attributes like being able to deliver on time. Once they get to understand how to use the tools of time management, they can maximize how they use their time and how they tackle tasks.

How To Make Money Selling Rams During Muslim Festivals

A few days before the Ramadan festival of this year, I was in a vehicle, passing through a place where people were buying and selling rams. Some of the passengers in the vehicle started complaining of how expensive rams were during the festive period and how economical and wiser it was, to buy the ram, long before the time of the celebration. I started to think about what they were saying and then it struck my mind that what they were making small talk about, was actually a good business idea. Further findings reveal you can actually multiply your income dealing in rams.


It is a common practice for Muslims to kill rams during their festivals. Especially during Ed-El-Kabir celebrations. Muslims all over the world, observe this festival at the end of the holy pilgrimage to Mecca and Medina (Hajj). Therefore, every Muslim who can afford it, kills a ram on Ed-El-Kabir and shares the meat with family, friends and the less privileged. In fact, it is compulsory for all adults and working Muslims to kill rams during this festival. 

Due to the high demand for it, rams are usually more expensive during the period of Islamic festivals. It is also at this period that ram sellers get most return on their investments in the business. Although, the price of the ram depends on its size. Smaller ones can go for N20,000, while the bigger ones can be sold for as much as N100,000.

The norm is that, when any Islamic celebration is approaching, cattle farmers and traders from the northern parts of Nigeria, take rams, cows and goats to other parts of the country, where there is no easy access to herdsmen, to sell their animals. Thereby seizing the opportunity to enrich themselves. The seasonal nature of the business makes it even more lucrative.  

Rams are usually expensive during festive periods, because of the increase in the cost of transporting the animals and also in the cost of animal feeds. According to some traders at Alaba Rago market during this year's Ramadan festival, it costs between N2,000 and N2,500 to transport each of the rams from Kano down to Lagos. Another trader at a market in Kaduna, revealed that a bag of food for the rams that used to cost N1,500, now costs between N2,000 and N2,500. Which led to an increase in the prices of rams this year.

Basically, the cost of buying, transporting, and feeding the rams make up the actual price they are sold. But if you are willing to invest your money in this business, you can be sure to make huge profit at the end of the day. 

Take for instance, you want to buy the rams from Kano to Lagos. You can buy up to 25 rams with N500,000, depending on their sizes. If it costs you N2, 000 to transport each of the rams, that will make it N50,000 as transportation cost for the 25 rams. If you buy 50 bags of feed for the animals for N100,000, altogether, it would have cost you N650,000 to do the business. The average price of a ram for consumers during this season is N40,000. When you multiply this by the number of rams you sell, you will be making up to N1,000,000. That leaves you with N450,000, which is about 40% profit margin.  

The fact that this business booms periodically, is even more reason why you should do it. Because, after the Muslim festival, you can go back to your existing business or work. You would have made enough money to sustain and to invest in other businesses while you wait for the next Islamic celebration.

To do this business, you must put the following in place:

First, you have to locate your market. Know where you want to sell the rams. It has to be outside of the northern states. Places where there are no easy access to cattle farmers. I will recommend Lagos because a good number of people in the state are Muslims -your target market.

You also need to register with the Ram Sellers Association in the state that you wish to sell the rams. Each state has its chapter of Ram Sellers Association. Joining the association gives you the right to display your rams at the combined cattle market in your location or any other location of your choice. As long as it is still within the state.

More so, it is important that you buy the rams before the period of the festival, because the rams will be more expensive during the festival. In order to avoid this hike in prices during the festival, plan your affairs few weeks or months before the time and take a trip to some northern states like Jigawa, Sokoto, Kano or Kaduna where you have a majority of herdsmen. Villages like Maitagari in Jigawa, Banki in Maiduguri, Darazo in Bauchi. These are some of the places where you can get rams in large quantities and at cheaper rates. 

After you have done all of the above, you must make sure that the rams are in good condition. Ensure that they are well fed and healthy. You can engage the service of someone who will constantly look after the rams, feed them and clean the cattle houses while you do other things.

The business of selling rams during muslim festivals is very lucrative. That is why you cannot run into loss if you decide to invest in it. 





How To Start The Supply Of Eggs To Shops In Nigeria

Are you an average Nigerian,  or you just graduated from the college and you are still waiting for that white collar job where you can knot tie and put on that corporate suit and jacket everyday? Well let me introduce you to a business that is fast yielding profit, not just a little one but profit that you can conveniently make a living from.

Poultry-Eggs
Eggs Freshly Removed From Poultry Farm


Egg business is a lucrative one, in this type, you can determine what you want your profit to look like. Before we analyze the potential profit of this business, let us know the advantages and uses of eggs.

Eggs are high in cholesterol and this makes it a perfect diet for growing children. It can reduce risk of many diseases, it supplies quality protein to the body, it is rich in vitamin A and this helps healthy eyesight, it contains choline and this is used to build cell membranes which helps in producing molecules in the brain.

The uses of eggs are numerous, we use eggs in baking different types of confectioneries like cake, bread, meat-pie and so on. It is  used as cosmetics like shampoo, conditioners, soaps, cholesterol, face mask and lots more. It is also used as glue, the sticky quality of egg white clean some certain surfaces like leather, its uses makes it so clear that eggs has a high demand.

For you to make success in buying and selling eggs there are some tips to put into consideration and here are few of the tips.


Have Your Own Vehicle


Egg business is more profitable in Nigeria when you make it a mobile business. Purpose of this is to make you distribute your eggs conveniently to your customers. Most shop owners usually feel too comfortable once they are seated in their shops, and so they feel reluctant to go to farms in order to pick eggs and also they consider the number of cracked eggs they will realize picking eggs directly from farm on their own. This is why being mobile is important in egg business.


Locate Your Target Market


Picking up eggs from farms is not a problem, your target market is what matters to you. Your target should be the highly populated environment. It could be markets any where, the mobility aspect makes you spread your distribution process all around. Once you know where and whom to distribute your eggs to, you will only need to go there directly.

Pick up Farms 


To start buying and selling eggs, you must locate two or more farms depending on what capacity you want to work on, a poultry farm is where you can pick up eggs for sale. Before you can start picking eggs from farms, you must be a registered customer with the farm, and you must be consistent there, meaning you have to always pick up eggs weekly.



Other Working Tools 


The basic tool needed for this business is empty crates, it could be paper crates or plastic crates. You can buy crates of 100 pieces at N10,000 or N5,000 if you choose to buy the paper crates , the total number you will need to run your business now depends on you. Note that the paper crates are more protective to your eggs, it reduces the number of cracks you will realize from transferring your eggs, and it's cheaper as well but damages more quickly than the plastic ones. 

Cost Of Starting The Business


Cost of acquiring a used vehicle constitutes almost 90% of your capital needed in this business. Once you are mobile, the only cost you will need to run this business for a start is N80,000, with this amount you can buy 120 crates of eggs. A crate of egg can cost N650 or less  from farm depending on the size you choose to buy, any balance left will be incurred on fueling your vehicle and other road expenses. 


Potential Profit


In this business, you are your own boss and you will decide how much profit you want to make in a week. Depending on any size of egg you choose to buy, you will gain profit of N100 on a crate of egg if you sell as a whole seller but if you choose to sell as retailer you can have profit of N300 on a crate. If you restrict yourself to selling just 100 crates of eggs weekly, that means you will realize profit of N10,000 weekly and this is just N40, 000 monthly. 

This is how you determine your profit. Setting a target to sell 1,000 crates of egg per week will mean you will realize  100 x 1,000 = N100,000 weekly, multiply this per month, that is a whooping sum of N400,000 profit monthly. If you deduct your monthly expenses from this amount am very sure you will still have a reasonable amount to save.

Buying and selling eggs might look odd to you but concentrate on how profitable it is and stop waiting for gainful employment in that oil and gas company that may not come until when your responsibilities are enormous. Keep yourself busy and be productive. 

Feel free to leave a comment, and if you have any challenges, don't hesitate to ask us questions, locating a farm where you can pick up eggs can also be a challenge to you, ask us any question we will gladly respond to you.
Wish you all the best in your business career.


How To Start a Computer Game Centre in Nigeria

In Nigeria today,  many individuals are associated (directly or indirectly) to different kind of games, these range from indoor games, outdoor games, and video games. Nigeria harbors game enthusiast and these can be used as an advantage to entrepreneurs who are looking for viable business that can generate profit in a small amount of time. Game center business is quite lucrative in Nigeria, you only need to know the nitty-gritty of its start-up and operation and you can be sure of a viable business. 


What is a game center?


A game center is a place where activities of indoor (and maybe outdoor) games take place. a place where game (video, board) fans meet to play games against each other. Video centers are quite common in Nigeria, some of the game centers has outdoor games (swimming pools, tennis court, Golf, etc) while some just focus on the indoor games. the reality is;indoor games are cheaper than outdoor games. we will focus,however, on the indoor games.

What do I need to start up?


First of all, get a good location. it could cost you the rentage of a big space. it should also be located in a domestic area; this is because your prospective clients are located within the domestic axis. you need to be well informed about the features of games that you intend to use. we suggest video games, board games as well as snooker game. the cost of setting up boils down to the following.

  • Big open indoor space: this could amount to N 300,000 /year depending on the area you want to set it up in.  
  •  
  • Television sets: it is advisable to start with 4 sets and ,of course, the television set should be of standard quality. this could amount to about N 300,000 for the sets.
  • Standard gaming furniture is also needed. this includes comfortable chairs, good tables, and quality appliances such as stabilizer, socket extensions, etc. we evaluate all these to cost N 200,000.
  •  
  • Games: you need four set of video games to start with. you can get a new Sony play station 3 for about about N 60,000. the price for 4 should amount to N 240,000. you should also ensure that you download games on the hard drive of the game system, this will ensure that you don't spend so much on buying game Compact Dics (CDs), they don't only cost more, they also have tendency of spoiling or make the lens of the console wear, and you might soon find yourself running back to the market to either buy lens, or more CDs. you also need to get a snooker table, couple with some board games like chess, monopoly,e.t.c.
  •  
  • Generator set: you need a power generating set that will serve as an alternative power source should PHCN light should go off, this should be estimated as N 150,000. 
  • Advertisement: You will be needing an advertisement post in front of the location, you should also get another post at a public stop. the cost of these should be approximated at N 30,000. you should know that you will pay LASAA (Lagos state signage and advert agency)  you should also consider making flyers that will reach out to the gaming public.
Bargain 1 million naira for the cost of setting this business up

Customers in a computer game center in Lagos.

How do I run the place?


You should start by employing 3 people that will ensure the efficient operation of the place. these people should be well knowledge in the handling of hospitality. You should also get a consultant technician that will ensure the smooth operation of the Equipment of the place.  You should ensure that your prices are quite competitive, ensure also, that you deliver best of quality to your customers.

How do I keep my customers?


You can keep your customers by firstly getting information from them on what they really like. try and meet up with their desires. you should also create tournaments, competitions. This will make customers to be attached to your place. You should also ensure that your customers are treated special. you should also create special package for them, like play 3 games and get the last game free, etc. this will encourage them to come back and play more games from you.

How do I make profit?


Get competitive price and fix a good price for your games. video games should cost N 50/10 mins game and snooker board should also be the same price. board games can go higher (because the games tend to use up more time) to N 100 each.  here is the breakdown of the viable profit you can make in an hour

1 PS 3 console game = N 100/ 10 minutes (2 players) =N 600/ Hr

4 PS 3 games = N 600 X 4 = N 2400/ Hr

Snooker games = N 100/game (2 players, at least 3 games in an Hr) =N 300/Hr
Board games = N 200/game (2 players, at most 2 games in an Hr) = N 200

2 Board games =N 400

Total viable profit / Hr (peak period) = N 3100.
Average =1550/Hr.

When do I start?


As soon as you have read this article and have the capital. it is a very good business and it has the capacity of taking your investment to greater heights...Good luck!!!

How To Start a Frozen Chicken Business In Nigeria

Frozen chicken production business is a multi-million Naira industry. It is rightly so because many prefer to buy frozen chicken basically because its convenient to cook. You will not go through the stress of slaughtering the chicken, boiling water, peeling off the feathers and dividing the chicken into parts. Frozen chicken gives you the opportunity to choose the chicken parts you feel like eating.

For the purpose of convenience, the demand for frozen chicken is on the increase. Any who invests in the business can never incur loss. This article will tell you what you need to know before starting your frozen chicken production business. You will also be enlightened on how to market your frozen chicken production. Meanwhile, let us learn more on some of the health benefits of chicken.


Health Benefits of Eating Chicken

As we all know, chicken is a very good source of protein. Protein builds our muscles, skin, cartilage and blood vessels.

Many consumers attest to the fact that chicken soup or stew is more delicious than those prepared with beef or other sources of protein.

Chicken prevents bone loss, because it is rich in calcium. It is not difficult to acquire the calcium because most chicken bones are very soft and they can be easily chewed. Chewing chicken bones  does not just give strong bones, it gives strong teeth too.

Chicken is rich in phosphorus that helps to aid strong teeth, bones, kidney as well as the liver.

Consuming higher rate of chicken increases our metabolic performance.

Eating more of chicken will keep blood vessels healthy thereby increasing your energy level.

Chicken is rich in vitamin-B that helps prevent cancer.

Chicken consumption improves healthy eyesight.

Consumption of chicken reduces skin problems, and it repairs dry and damaged skin.

Chicken increases appetite because it consists of zinc and this helps in maintaining a healthy appetite.

Having known the importance of chicken to the body, let us now emphasize on how it can be produced locally. In my previous article titled 6 reasons you should invest in frozen chicken business, we discussed about the federal government placing a ban on the importation of frozen chicken.
Since there is ban on frozen chicken, it is better to produce it locally. The steps needed to start frozen chicken  production are as follows:



There are two basic sources to get life chicken to process into frozen chicken and they are
  1. Rearing birds in your poultry farm, the type of birds for frozen chicken are either layers or broilers.
  2. You can buy birds from poultry farmers. 
A lot of people prefer not to go through the stress of preparing life chicken and so this makes them have preference for frozen chicken, there are some start up requirements needed for the production of this business and they include

Initial Capital

To start frozen chicken as a medium scale investor, you will need a minimum of N2,000,000. Your initial capital will be invested in purchasing all equipment needed to run the business. Your source of finance can be loan from any bank, your personal savings, it could come from partners or any other source you can think of.

Start up Point


Your start up point might not necessarily be a shop, you can start this business from your home if you have the sufficient space. However if your home is not spacious enough, that means you will need to acquire another piece of land. This place should not be too far from your target market. To minimize your cost, you can acquire a plot of land in an under-developed environment. Depending on the part of Nigeria you are, you may not need to spend more than N300,000 

To erect fence around your piece of land, you must at least buy 1,000 pieces of block. One costs N120, and so 1,000 will cost N120,000. You will need 30 bags of cement to erect the fence. This will cost N49,500. Set aside N100,000 for sharp sand and cost of labour. You will also need N200,000 for mounting gate and doing other miscellaneous. Construct a less expensive shed or better still construct a standard room on your piece of land. This will serve to house your freezers. 

Equipment


There are some basic equipment needed to run this business. Having achieved a standard start up point, it is
important to purchase your working tools. These are as follows:
Deep freezers
Generator
Knives and Axes
Bowls and Basins
Sealing Machine
Automatic weighing scale
Lovely polythene bags for packaging
Tables for cutting
Chairs
Heat source (stove or heater)
Soap
Hand Towels

Hire staff


In this type of business, you can not work alone. You will have to hire staff, to make your production and distribution faster.There should be different sections in your factory, the slaughtering and feather removal section, dividing section, packaging section and the distribution section. The sectioning depends on how large your production is. In hiring staff, make sure you hire dedicated staff and make sure you treat them right by paying their salary as at when due. This will make them always happy and more dedicated to their jobs.

Birds  


There are two types of birds that can be used for frozen chicken, and these are broilers, and old layers. So if you want to buy your birds from a farm you know what type to source for, and if you are going to rear it on your own farm, you should take note of the type to invest on.

Getting Started


You have your equipment ready, you know what type of birds to source for, your space is available, the next step is starting the business. Interestingly,  once the birds have been slaughtered, all the parts are useful.

We have discussed about the production process of this business, let us go further to branding, and selling aspect. After your production, there are some steps to consider to make your products acceptable to the public and they are as follows

Create a business name


Frozen chicken is a consumable product and so you must create a sweet name. It must be simple and short, easy to pronounce. The more appealing your name sounds, the better for your business.

Register with NAFDAC


You will have to register your business with the national agency for food and drug administration and control. This body is involved in regulating and controlling the manufacture, importation, exportation,advertisement and distribution, sale and use of food, drug, cosmetics.To know more about this agency,visit them on www.nafdac.com.   you will get a detailed information about this body.

Locate Your Target Market


Where and how you intend to sell your production matters a lot, so locating a target  market is very important. Your target should basically be those shops that are involved in buying and selling of frozen foods, hotels, restaurants, institutions with catering facility, fast food owners, party planners/host. This will definitely help you increase your production process.

Branding


There is more to branding than just creating a unique name, it also involves creating unique image for your product. The image must describe your product and this simply means that your product must be meaningful. Your product name and image will automatically advertise your product if there is consistency. You can develop strategies on how you can advertise your product, or better still use the existing advertising media like online, or offline, advertisement.  Tell family, friends and neighbours about your product. Remember, advertising your product goes a long way in promoting your business.

Retail selling


 As a producer of frozen chicken, you can as well sell in retail, to achieve this means you need to have a shop, it could be in a residential environment or market environment where you know that people in that environment will not depend on their locally reared chicken before they can eat one. What we mean invariably is that you should locate a strategic area and a high profile one. Your shop must be easily accessible for your potential and existing customers to locate you.

Quality Control


This aspect is an essential one in frozen chicken processing, its purpose is mainly to protect consumers from dangers and to ensure quality service for what they pay for. QC will ensure that the laws guiding chicken production process are duly followed.

Potential Profit


This business is a profitable one no doubt about that. Once you or your staff have gone through the process of washing and dividing into parts, chicken heads, necks, legs, laps, wings, chest, gizzard are sold separately,and the minimum amount a kilogram is sold at N700, this price can  increase during festive period because the demand will be higher.

Invest in this business today and  realise the potential profit in it. Feel free to ask questions we will gladly respond. Also share your success story with us. Wish you all the best.

How To Start Hair Extension Business in Nigeria

Do you have passion for fashion? Why not consider trading in the beauty industry? The demand for hair extension in the Nigeria market today is sky-rocketing everyday by day. This is a viable and lucrative kind of business. Also, it requires little capital. Most women in our society today take extra measure to look good by making their hair with all types of hair extension. It is also a kind of business anyone can start regardless of your gender.

Brazilian-Hair-Extension

It is a kind of business you can start from home, rent a shop, and your customers will reach out to you on your mobile phone when the need arises. There are different types of hair example; synthetic human hair,European, Brazilian hair, Peruvian hair, Indian hair, expression attachments,wigs, amigos attachments etc. They come in different inches, colors,different makers, and their prices vary too.

Before you engage in this type of business, you need to understand and get familiar with the different types of hair extension they are in the market. Some people may consider selling only human hair depending on who their customers are and others prefer to sell all products of hair extension. It advisable to sell different types of hair extension because people are different so as taste. Being known for different kinds of brands makes you earn more customers and they can also promote your business by word of mouth marketing.

Again, you also need to purchase the equipment for your shop and hire the necessary staff for your business. Another strategy is advertisement, this could be done through social media marketing, telling friends and family through word of mouth marketing, or showcasing your product at trade fair shows. As a business owner you need to practice what you preach. Use hair extension products on your hair for people to see.

To engage yourself in this type of business you need to put somethings into consideration to avoid  any pitfall. 
1. First Educate Yourself: Due to variety in brands of hair extension in the market,  you need to know their names, inches, and where they are made in. Because you will have different customers asking for a particular brand of hair. More so, a new product  can surface in the market that your customer is not aware of, therefore, you can tell your customers more about it. This will show how professional you are in the business.

2. Write A Feasibility Study: Make a list on how you want your business to succeed at the beginning and in the future. Think of how you can compete with the existing competitors in this line of business. know how much you need to start up, and what the turnover would be. Also, find out where to buy your products, either from the distributors or manufacturers  in order to get products at a reasonable and affordable price.

3. Capital Prospect: When you invest N 500,000 to buy different types of hair extension that pull traffic in the market such as, expression attachments, human hair, lace wig, and other related items to stock.You stand a chance of making N 100,000 in return.

3. Add Related Items To Stock: There are some other related products that are used to make hair such are; thread for weavon, needle, weavon glue, weavon oil, relaxers and all types of hair cream and anti-dandruff for hair. This does not only attract individuals but also call for attention of salon owners to patronize your business.

4. Sell At A Reasonable Rate: Have it in mind that there are many competitors in this line of business. Make sure your price is very reasonable and competitive enough. You do not have to make huge profit as a beginner, what you need first is to gain more customers. Providing them with the best quality at affordable rates will make you gain customers and keep them for life!

5. Get Goods Directly From  Manufacturers
If you do not have enough financial capacity to import directly from China, you can consider purchasing from local manufacturers. Even so, you can get your product at a reasonable rate while being assured of good quality. In effect, you will be able to give your customers a reasonable discount on product purchase.

6. Attract Your Customers
While reasonable price will help you gain more customers, you can make them loyal by giving incentives on products purchased. This can come as gifts on products bought depending on the quantity. Sometimes, you can run a sales promo. Your customers want to be convinced that there is a difference between you and other suppliers. Endeavor to stand out by treating them in such a way to show that they are kings.

I believe these steps above would give you an insight of how to start a successful hair extension business, and make you standout from existing competitors. If you have any comments or questions, please do not hesitate to do so below.

How To Start Party Equipment Rental Service In Nigeria

In Nigeria, partying is a common practice especially on weekends. It is usually one party or the other. Saturdays and Sundays are known for weddings, birthdays, survival, dedication and thanksgiving parties. Truthfully, we Nigerians love to have fun. That is why, party equipment rental business is like a goldmine in Nigeria. 

events

Anybody throwing a party, wants the party to be a success. So, they spend money on all the materials needed for the success of the party. This is where party equipment rental service comes in. Because, all of the chairs, tables, tents, cooking equipment and the likes will be required for the success of the event. Since the person holding the party does not have all of these materials, it will be necessary for such a person to rent the equipment.

Party Equipment rental service involves, renting or leasing equipment like chairs, tables, commercial cooking equipment, tents and so on, to people, for the smooth running of an event or occasion. 

This kind of business requires huge start-up capital. But, the good thing is that, once you are able to get all of the equipments needed, you will continually make money with them. The same sets of equipment will generate income for the business. 

Let's do a little analysis of chair rentage and how it generates income. The market price of one armless plastic chair is N1000 while rentage is about N500 per dozen.  If you buy 120 plastic chairs, which is 10 dozens, it will cost about N120,000 or less. If, for instance, you give the whole ten dozens of chair out on rent for N500 per dozen every weekend. That means the chairs will be generating N5000 as revenue every week. 

The more often you get patronage, the faster it is for you to cover your costs of getting the chairs and start making profit. That is why, you need to have a large customer base and do business more often. The same thing goes for canopies and commercial cooking items. You have to buy the pots and pans, get the wood-burning stove or gas stove. Getting these items can cost up to N100,000. But, the rentage of any of these items cost about N300 for one day.

Recently, a get together program was held in my church. We had to rent cooking pots, spoons and the local wood-burning stove as well. Everything cost around eight hundred Naira (N800). We rented the items late in the evening and returned it the next day, after the program. 

Supposing, another group of people or individual rented the items after we returned it the next day, it would mean that, the person running the rental service has made, one thousand and six hundred Naira (N1600) in two days, with the same items. That is how party rental business works. As long as you have the equipment, you will always make money from party equipment rental business

Aside from the cost of maintaining the equipment, transporting them in some cases and paying the person(s) that will help you load and offload the equipment into the vehicle, you won't be incurring any more expenses. Rather, you will be making profit.

One of the benefits of doing this business is that, you can do it from your home. All you need to do is to create space for storing the equipment in your house. It also gives you opportunity to do other businesses while you run a party rental service.

The following paragraphs will enlighten you about the things you need to do when starting a party equipment rental service in Nigeria.

It is necessary that you make basic plans before starting any business. After which you will need to raise capital and get the location (which can be your house in this case) needed to start up the business. For party equipment rental business, you may need to register your business name with the Corporate Affairs Commission of Nigeria (CAC) and also with the association of party equipment rental service in the area of your location. 

 

Get The Equipment You Need


When you have taken the above steps, you can then go on to get the equipment you will need for your business. Ensure that all of the equipment you buy, are original and up to standard. Go for the types of equipment and brands that are in use. You can take a tour of a few parties in your area and get all of these information. Also, make sure that the chairs you buy are strong. Ones that will not easily get broken or damaged during transportation or usage and that will last for a long time. 

 

Make Provision For Transportation


Another thing you need to make arrangements for, is means of transportation. Most party equipment rental service have pick-up vans, with their business names written on it. It is for transporting party equipment to the location of the party. Especially, if the event is being held at a far distance from where the rental service is located and when the equipment being rented are too much to be carried by one person. So, you must have a ready and steady means of transporting the equipment.

 

Look For Customers


After you have purchased the equipment and gotten the means of transportation that you need to start the business, the next thing to do is to get clients. It is also an added advantage for you if the business is located where you reside. This is because, you can talk to the people that you know are planning a party and they will rent the equipment needed from you. The person throwing the party in your area, will not want to go and get equipment from a far distance and get to pay extra cost for transportation. 

You can partner with an event management company or event planner and caterers. If you have good rapport with an event management company or planner as well as caterers, they will always rent the equipment needed for the planning of their occasions from you. They will recommend you to other prospects as well.

 

Start By Giving Discounts And Special Offers


You will need all the advert you can get, for the purpose of getting clients. That is why, you may need to start out by giving discounts and special offers to customers. This will create an avenue for word of mouth marketing. Because, anybody that gets a discount or special offer from you, will tell another person who is holding an event about your service and they will patronize you. For example, you can decide to give a customer who rented some dozens of chairs from you, one more dozen, as a bonus. It will make the customer happy to the extent of telling others about your services. Note that, your charges must tally with that of other rental services.

 

Get People To Work With You


You may need to hire one or two people for maintenance, taking record of orders and delivery as well as inventory of the equipment. It will relieve you of stress and also give you the opportunity to do other things along with running the business of party equipment rental. 

Party equipment rental service is a very lucrative business in Nigeria. Once you are able to bear the cost of getting the equipment, transportation and maintenance and you are getting clients constantly, you will always smile to the bank.