Furniture Business Plan in Nigeria 2024 Sample
Furniture Manufacturing Business Plan Sample – A motivational speaker once told us during a retreat that the way forward for Nigerian entrepreneur is to embrace the culture of hand work, he stressed that the future lies in the things you must have learnt to do today, those words stock and I believed them, you see one of such hand works the speaker was making reference to is the furniture making business.
Hurry Now! Get the Updated Furniture Business Plan in Nigeria feasibility study PDF (Including The Financial Projections), pay N10,000 to
GTBank (Guaranty Trust Bank)
Account Name – Okite Joseph ikenna
Account No – 0044083736
Once payment is made for the Furniture Business Plan in Nigeria feasibility study PDF, send the following (i) a valid email address and (ii) your payment details to any of these numbers – 07039768549.
Other Business Plan
Furniture can be place in the same categories as fashion and designing, Tailoring, Hair dressing, because a lot of craftiness is usually put at work in order to arrive at a desirable result. The Nigerian local furniture business has blossomed over the years and it has enjoyed patronage from the Nigerian public, just as other handy works has received patronage, furniture business is one of those hand works that is highly reading and the truth is that no matter the competition in the sector, the patronage is usually high.
The Nigerian furniture is in a different dimension these days, the level of craftiness has made the business so attractive and lucrative, even to the extent where people who know nothing about carpentry invest and employ others to do the job, woodworking business has really come to stay and the beauty is that it is now done in a very big way.
the market is very big where both foreign (imported furniture) and local furniture can thrive, although the business in Nigeria has been largely underrated, this explains the reason why people go as far as importing, the carpenter who made my bed charged N55,000, not so much considering the beautiful job he did, however, the chairs in my seating room where important, they cost a whooping N250,000, it was immediately I got the seats that it dawned on me that the carpenter who made my bed could actually make this chair at a lesser price.
Come to think of it, how many of us can comfortably buy imported furniture? When the designs made here can compete favorably anywhere in the world. The question now is why do people go for imported designer furniture when they can actually get what they want here in Nigeria? The fact remains that many Nigerian can’t even tell the difference between imported and locally made furniture, so why chase clout when you can actually save money.
How Lucrative Is furniture Business In Nigeria
Furniture business is so big that most times it becomes a who lot difficult to quantify how to measure it. for a fact every home need furniture to be complete, in most cases it really doesn’t matter the quality or price, as long as the furniture fits, as quick visit to any furniture showroom or furniture shop exposes you to the level of skill local furniture makers are, these days Nigerian furniture makers are so good that you barely can differentiate between the imported and the locally made, when evaluating the lucrativeness of furniture business, you should look at the number of potential customer or market that will readily come for your goods, below are potential market for furniture;
Home – This is the number one destinations for furniture, either imported or locally made, you may argue that you can only buy furniture once for a home, true to that but do you know how many more home that are out there? A man gets married, he may need a furniture, an individual who moves into a new apartment and wants to start a new life will most definitely need a new furniture, in fact most people tend to change their furniture from time to time, in situations where they don’t want to change, some may preferred to change clothing of their furniture. As an entrepreneur, the homes should be your first among other market targets.
Offices – After homes another place where furniture is usually needed is the office, every office need furniture, it make the office environment look more serious for business, I believe you have never seen an office without furniture, I bet if you have seen any, they must probably look so empty and un-serious, people might not even take their businesses to such places. Where do they keep office furniture? (i) The offices (ii) the waiting room etc. unlike many homes, most offices have the habit of changing their office furniture, it is usually done yearly, every two years etc, the reason is because the place of work is expected to look tidy.
one of the reasons furniture business in Nigeria is lucrative is that there is market for everyone, the foreign or imported furniture have those that buys them while the locally made furniture also attracts customers, however, locally made furniture attracts more buyers due to the price factor, not every can buy an imported furniture that may cost as much as N300,000, while you have the option of getting something similar at N90,000 which is a lot more cheaper. In essence the locally made furniture will sell more than the imported due to the purchasing power of the average person on the street.
What You Need To Set Up A furniture Business
One good thing about setting up a carpentry shop or a furniture show room or shop is that really do not need to know how to do the work yourself, there are dozens of shop owners who do not know how to hold a hammer talk less of knowing how to hit on a nail, but there are making millions from the venture. Here is an example, an imported furniture cost an estimated N1 million, a very skillful carpenter cold do the same with less, say N150,000 which could be negotiated on and you could end up buying it at N100,000.
Display the furniture in your furniture show room and put a price tag of N300,000, here you are getting over 100% profit from one sale. The question now is how do you get this kind of set up? See below the three (3) things you need;
– Get a Business Plan – This business requires a lot of planning and strategies, hence the need to get a furniture business plan in Nigeria that will help you to that effect.
– Get a Skilled Carpenter – This should be done will all carefulness, you need to have the best hand who could make eye catching furniture, screen as much as you can and then employ like two or three depending on your capacity, properly negotiate your arrangement with them.
– Get a Show Room – In what best way can you showcase your furniture product if not at the showroom, the showroom should be located where a lot of people will be able to see what you have inside of them, the quality of what you have in your showroom which could be seen by all should be enough adverting you need.
The truth is that the furniture business in Nigeria will continue to grow, the question is are you ready to participate and contribute to the growth.
Hurry Now! Get the Updated Furniture Business Plan in Nigeria feasibility study PDF (Including The Financial Projections), pay N10,000 to
GTBank (Guaranty Trust Bank)
Account Name – Okite Joseph ikenna
Account No – 0044083736
Once payment is made for the Furniture Business Plan in Nigeria feasibility study PDF, send the following (i) a valid email address and (ii) your payment details to any of these numbers – 07039768549.
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