Starting a bookshop business in Nigeria is a good step for young entrepreneurs to take advantage of. Books contain relevant information, information is knowledge and we all know that knowledge is power!
There are diversified branches of writing and in Nigeria, many people are not self-limited to just one category of book type. Ranging from Science and technology to business to education to romance to sex to health to cuisine etc. Books are relevant to every aspect of civilization because without the right information specified, we do not know just what to know.
In Nigeria and worldwide, there is a high and continuous demand for books which is very obvious. Inasmuch as with the advert of the internet and subsequent dissolving of information into electronic formats like PDF’s and other forms of e-books, some old but very informative books have really not been able to be fixed into electronic formats just yet and even if they are, some people still prefer hard copies of certain materials whether new or old over their soft copies.
More so, Nigerian students have intensive need for Hard copy books, text books, school books and learning materials, in effect bookstore retailing is one of the good businesses one can find to do in Nigeria.
Would you like to start a bookstore retail business in Nigeria? If you’re researching on helpful ideas with this, I’ve got some for you.
How to Start a Bookshop Retail Business in Nigeria
1. A Good Location
One the most important factors to any business in Nigeria is location, sometimes we misjudge what should be a good location. Careful to note is that the definition of a good location to a someone who wants to run a library business in Nigeria isn’t just same with what good location should mean for an intending bookstore retailer in Nigeria. The library owner needs a peaceful, siren and calm environment for his library to function properly, to afford people the convenience to read and absorb.
On the other hand, a bookstore retail does not necessarily need a calm environment but definitely one that has huge pedestrian traffic perhaps around a busy junction or Bus-stop if it is not located in the middle of the market and an area surrounded by schools would be perfect for him. In this case, you need a location where schools aren’t too far from you because schools would account for over 80% of your average sales. 8 in 10 persons coming to buy books from your store would be students while the other 2 could be adults who are hobbied readers.
2. Relevant Stock
In Nigeria, relevant stock here refers to books or book materials that are of high demand and trending, if you’re an ardent reader or have some comprehension of academic books characteristics, you’ll understand that there’s always a trend that could even span up to 4,5 6 or even 10 years of relevance. I doubt if certain school text books that were used to teach kids 10 years ago in Nigeria are still being used today, perhaps there are but I’d bet quite a few. So there’s an upgrade or regular update which now makes some previously vital books now irrelevant.
Before investing or buying stock, try to ask around. Ask Nigerian school students, ask schools what books are in current usage so that you do not end up buying perhaps stock of new books that have not been accredited for studies or books whose existence are not recognized just yet. You could also make the mistake of buying looking-new old/outdated books and watch your money go down the drain.
3. Have Plans to Include Other Stationeries
Perhaps your major aim at starting a bookstore retail business in Nigeria could be for selling story books or science textbooks, inasmuch as that wouldn’t be a bad idea but it’d be much healthier if you could include a few other categories of stationeries like writing materials, exercise books, notebooks, office materials like envelopes, files and the rest. If you can, include them from the start but if you can’t due to capital or some other reasons, have and make plans for them. This idea is very helpful in Nigeria.
4. Establish Contacts with Printing Presses
The reason for this is so that you could afford to get certain items cheaper and at company price instead of having to buy from second hand distributors. There are quite many Printing presses in Nigeria printing and selling Nigerian books, note books, text books and other types of stationeries.
Research for their addresses, contact them and buy your stock from them, ensure to maintain contact, you could even obtain certain items lesser in price with time. The only problem you might have to deal with is cost of conveyance, so I’d advise you buy large stock each time if these companies are located quite far from your residential or commercial area so you can be able to cover up costs.
5. Locate Warehouses who Import Fairly used Items
This has been a perfect source of old books to so many people who deal on them in Nigeria. Even if these warehouses do not specialize on importing books or stationeries, most times there’s always little packages of books in their imported loads which we call extras and more often than not, these are treated as irrelevant, this means you’re bound to get it cheap and very cheap from these sources, I can recall simple instances.
If you really intend to include old textbooks, business and science books in your retail business in Nigeria, then you should locate as much warehouses as possible and always check on them to know when they get new stock or are expecting new stock. And when I say warehouses here, I mean warehouses who import fairly used stuffs and sort them before selling, sometimes they can also be called Auction stores.
6. Link up with Schools far and Wide
I guess you already understood that your major source of income for sales would be schools and students in Nigeria right? Great…. You’ll need to link up with as much schools as possible either as a distributor, that’s you become their distributor for relevant materials to their bookshop/school store or you become their outside school bookstore or bookseller who they’ll always refer their students to buy school books from because not all schools deal/sell books on campus, most public schools I know don’t have time for that, so you linking up with them would help an awful lot.