{"id":295844,"date":"2023-10-14T14:51:47","date_gmt":"2023-10-14T13:51:47","guid":{"rendered":"https:\/\/nigerianfinder.com\/?p=295844"},"modified":"2023-10-14T14:53:18","modified_gmt":"2023-10-14T13:53:18","slug":"how-to-start-iron-rod-business-in-nigeria","status":"publish","type":"post","link":"https:\/\/nigerianfinder.com\/how-to-start-iron-rod-business-in-nigeria\/","title":{"rendered":"How to Start Iron Rod Business in Nigeria"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Iron rods are widely used in the construction industry, for beams, columns, lintels, and other structural members. With the ever-present demand for iron rods, venturing into the business of providing iron rods to end users presents great prospects. If you have given a thought about this business but don\u2019t know how to go about it, keep on reading this article to the end as we provide you with a step-by-step guide on how to start iron rod business in Nigeria.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-295845\" src=\"https:\/\/nigerianfinder.com\/wp-content\/uploads\/2023\/10\/How-to-Start-Iron-Rod-Business-in-Nigeria.jpg\" alt=\"How to Start Iron Rod Business in Nigeria\" width=\"602\" height=\"342\" srcset=\"https:\/\/nigerianfinder.com\/wp-content\/uploads\/2023\/10\/How-to-Start-Iron-Rod-Business-in-Nigeria.jpg 602w, https:\/\/nigerianfinder.com\/wp-content\/uploads\/2023\/10\/How-to-Start-Iron-Rod-Business-in-Nigeria-600x341.jpg 600w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">How to start iron rod business in Nigeria will be discussed below:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h2><span style=\"font-weight: 400;\">Perform Market Research on Iron Road Business<\/span><\/h2>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The first stage of starting iron business in Nigeria is to carry out a market survey about the business. This exercise allows you to identify the target market for iron rods around you, the wholesale and retail prices of different types of iron rods and to assess the competition.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep in mind that conducting a market survey is an ongoing process, so regularly review and update your survey to help you adapt to changing market conditions and customer preferences.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h2><span style=\"font-weight: 400;\">Develop a Business Plan<\/span><\/h2>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Creating a business plan is the next step you\u2019d take after you have carried out the market research on iron road business.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Your business plan for iron rod business should include the quantity of iron rods you want to supply, how to transport them and the funds you are willing to start the business with.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, the business plan for your iron rod business should include the location where you want your warehouse to be as well as strategies you intend to attract customers that would patronize your business.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having a good business plan for your iron rod business will serve as a strategic tool that guides your business growth and development. This is because it helps you articulate your vision, make informed decisions, secure resources, and adapt to the dynamic iron rod business environment.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h2><span style=\"font-weight: 400;\">Get a Warehouse in a Good Location<\/span><\/h2>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Getting a warehouse for your iron rod business is the next step and it requires careful planning and consideration.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You should determine the size of the warehouse you need based on your proposed inventory and operational needs. In addition, ensure the layout, flooring, and height of the ceilings of the warehouse meet your requirements.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, you should ensure that the location of the warehouse is strategically located on major roads and should be easily accessible for transportation and close to your suppliers and customers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other important things to consider when getting a warehouse for iron business include the security of the area and the warehouse itself, lease terms, and plans for future growth by choosing a warehouse with the potential for expansion if needed.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h2><span style=\"font-weight: 400;\">Buy the Iron Rods<\/span><\/h2>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">With the warehouse set, the next step is to purchase the iron rods. It is recommended to buy the iron rods from companies that produce steel in large quantities. Some major top iron rod manufacturing companies in Nigeria include Tiger TMT, Quantum Steels Nigeria Limited, Saba Steel Industries Nigeria Limited, and Dana Steel Company. Alternatively, you could also buy iron rods from major suppliers that sell iron rods in bulk.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Iron rods come in different sizes including 12mm, 16mm, 20mm, 25mm, 10mm, 8mm, 6mm, and 30mm. Below is the average price per ton of iron rods as gotten from betaprices.com (as of September 2023):<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">Steel diameter<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Qty Per Ton<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Single unit price NGN)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Price per ton (NGN)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">6mm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">376 pieces<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N1,200<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N451,200<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">8mm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">210 pieces<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N2,100<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N441,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">10mm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">134 pieces<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N3,300<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N442,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">12mm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">93 pieces<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N4,800<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N446,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">16mm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">52 pieces<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N8,500<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N442,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">20mm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">34 pieces<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N13,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N442,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">25mm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21 pieces<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N21,000<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N441,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">30mm<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15 pieces<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N30,500\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">N457,000<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">N\/B: These prices may vary from one part of Nigeria to the next and from one manufacturer or supplier to another.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h2><span style=\"font-weight: 400;\">Register Your Iron Business\u00a0<\/span><\/h2>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Registration of your iron business is the next step of the process. In Nigeria, business registration is crucial as it makes your business legitimate and credible, make it easier to access bank loans and grant, and protect your personal assets from any potential legal issues or debts that may arise from the business.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Corporate Affairs Commission (CAC) is where to register your business. Below is the registration process for business with CAC:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Check for the availability of the business name by visiting <\/span><a href=\"https:\/\/services.cac.gov.ng\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">https:\/\/services.cac.gov.ng\/<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Complete the pre-registration form \u2013 CAC-BNo1 and upload the relevant registration document online using Company Registration Portal<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Pay filing fees.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h2><span style=\"font-weight: 400;\">Find Customers for Your Iron Rod Business\u00a0<\/span><\/h2>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">This stage involves locating potential customers for your iron rod business. First and foremost, you should display the iron rods so that they will be visible to passersby.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, you don\u2019t have to rely only on the customers that can locate your warehouse, instead, go out, find, and meet them.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The potential customers you should consider approaching for your iron rod business include construction companies, contractors, architects, builders, and other professionals in the building industry.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ongoing construction sites are an example of where you can find potential customers for your business.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Aside from physical marketing strategies, you could also use other methods to get customers for your business. One way is to build a strong online presence by creating a professional website that showcases your product. To ensure you get leads off the internet, invest in search engine optimization and utilize social media platforms like Facebook, X (formerly Twitter), Instagram, and LinkedIn.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can engage in content marketing on iron rods to establish yourself as an industry expert. By regularly sharing content on iron rods, such as blog posts, videos, or infographics, you will increase your likelihood of getting more customers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Other ways to reach more customers include online advertising, networking and industry associations, and partnerships and collaborations with businesses in the construction industry.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Keep in mind that building a customer base for your iron business takes time and effort, therefore, be patient and persistent in your marketing efforts. However, as you build strong relationships and consistently deliver value to your customers will help your iron rod business to grow over time.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iron rods are widely used in the construction industry, for beams, columns, lintels, and other structural members. With the ever-present &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"How to Start Iron Rod Business in Nigeria\" class=\"read-more button\" href=\"https:\/\/nigerianfinder.com\/how-to-start-iron-rod-business-in-nigeria\/#more-295844\" aria-label=\"More on How to Start Iron Rod Business in Nigeria\">Read more<\/a><\/p>\n","protected":false},"author":2534,"featured_media":295845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/nigerianfinder.com\/wp-content\/uploads\/2023\/10\/How-to-Start-Iron-Rod-Business-in-Nigeria.jpg","jetpack_shortlink":"https:\/\/wp.me\/p6w1sx-1eXG","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/posts\/295844"}],"collection":[{"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/users\/2534"}],"replies":[{"embeddable":true,"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/comments?post=295844"}],"version-history":[{"count":1,"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/posts\/295844\/revisions"}],"predecessor-version":[{"id":295846,"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/posts\/295844\/revisions\/295846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/media\/295845"}],"wp:attachment":[{"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/media?parent=295844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/categories?post=295844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nigerianfinder.com\/wp-json\/wp\/v2\/tags?post=295844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}