A business broker is a business that you can start in Nigeria very easily with 0 Naira. Nigeria has a large population who require a lot of goods and services daily. While wholesaler and retailers stand the gap between manufacturers and consumers, business brokers stand the gap between companies that produce services and the consumers. A business broker for example, could stand as an agent between a house owner who wants to rent out his house and an individual looking for house to rent.
Being successful at being a business broker would thus require one of two options or both. You know a lot of people who offer services and are willing to pay an individual for making referrals to them and at the same time, knowing people that need the services. The second option is being bold enough to approach individuals, be it service providers or individuals who might require the services to market your skills. If you however know people at both ends and at the same can approach individuals who might require your services, you can be referred to as a natural business broker.
There are different types of business brokers in Nigeria. Some of them include:
- Business brokers who act as real estate agents,
- Business brokers who act as employment agencies,
- Business brokers who develop business plans for companies,
- Business brokers who establish most probably selling price valuation for companies, and
- Business brokers who act as consultants for companies amongst others.
Starting Up The Broker Business
The easiest way to start a business broker business is to set up an office and furnish it well. You can then make adverts in the form of banners, handbills, posters as well as radio and television jingles amongst others. If you do not have the funds for an office, you can start by having personal contacts. For instance, you approach a person building a house or an office and ask if he wants to rent out. If he answers in the affirmative, then you can make personal contacts with individuals who are looking for a house.
You could try to convince them that the location of the house is better or the rent is cheaper in the event that the individual already have another rented apartment. From your profits from the broker businesses, you can then raise enough funds to get an office and furnish it. The number of unemployed individuals in Nigeria is also another prospective aspect. If you know human resource managers who carry out regular employment in their company, you could approach them to carry out interviews and employment processes on their behalf.
Setting Up The Broker Business
Once you have your office, you can easily use your office to receive business owners and potential customers for the business owners. You can also have one or two other people who would move around the town and supply you information on what houses and offices are on rent. In most cases, house owners are looking for individuals to rent or buy their house or property at their price. Once you are the first to bring that individual, the house owner would accept him/her. In most cases, agents charge 10 to 15 per cent of the amount to rent or buy the property. The same apply for other business broker services.
In conclusion, business broker services are very lucrative businesses if you are good at marketing. Once you can link potential clients with potential customers easily, then your path to becoming a success business broker will be smooth and fast.