HOW TO START AN ADVERTISING AGENCY BUSINESS IN NIGERIA
One of the major parts of running a business is advertising. It is very important and could go as far as helping to determine how much profit and success can be attained upon starting the business. Advertising is a communication whose purpose is to influence potential customers about products and services. Advertising is a very essential part of starting any business and entrepreneurs always need it to adequately promote their businesses. There are several ways advertisements can be done effectively to have a good chance of succeeding and while it can be done individually by the entrepreneur, they can also employ the services of an advertising agency to do the work for them.
An advertising agency is basically a company that deals in helping businesses to adequately advertise their products or even the business using different methods available at their disposal. It is a business enterprise dedicated to creating, planning and handling advertising on behalf of its client companies. It is a lucrative business that can fetch entrepreneurs huge amounts of profit based on the demand for advertising services by many companies today. There are a lot of businesses out there today and even more operating online and as advertising is very important to the success of a business, the advertising agencies can come in to develop adverts that can be used to promote the business.
There are many available ways used to advertise businesses today. The most used one which is also very effective Is the use of social media. The method is used by many businesses and even though it can be done by almost anyone, there are some advanced methods or features that can be used by experts to help the business. They are some of the things offered by advertising agencies. Other methods of advertising include using banners, flyers, email campaigns and so on. All have their different ways in which they can work but they are quite good for promoting a business.
One of the main advantages of starting a business like this is because if the demand of the services of an advertising agency. The demand is usually high with companies or businesses in need of experts to help control their marketing strategies and helping to transform these efforts into good ways for the company. Many business owners love to employ the services of experts who can do a very good job at promoting the business and as a result, they look to agencies like this for help. There are a lot of businesses available in Nigeria today and even more businesses will continue to be introduced or created so there is no problem in getting customers or worrying if you’ll get customers or not.
Another thing is that it is not a really stressful thing to do plus you might choose to have a team where everyone will have their own duties. You’ll definitely need some training in getting the best use out of the available advertising methods and ensuring it works for you. The training simply prepares you for the business you’re about to start. After the training is completed, the business can run in full swing and you can expect to start developing your strategies and getting your customers.
Starting the business is not an entirely difficult thing to do. You don’t really need too much to start the business. The capital is hugely important and it will help in getting things started for the business. In the next sub heads, I’ll be discussing the steps involved in starting an advertising agency business in Nigeria and some factors that will prove useful during the course of the business and to ensure that success is attained in the business.
No matter what you’ve heard someone saying about a business and how well success is assured or how lucrative it would turn out, always try to do your own research. The research will not cost anything except your time and that time will prove to be well spent when the business starts and the successes starts coming in. It is important to do a thorough investigation about the business since you’re going to be investing your money into it and you’ve never been involved in the business. Some hours of research won’t hurt.
The research is always meant to give you an idea of what to expect and the challenges ahead to be faced. It teaches future entrepreneur how the business works and what success means. It shows the risks involved and the ways to tackle them. It also gives ideas on how to sustain the business and work towards more success. Imagine missing out on any of the mentioned points, it’s more like being less equipped about something especially something you plan to spend money on.
There are different types of advertising agencies based on what they offer and all these need to be clear to entrepreneurs to decide which one works for them and the one they’ll be starting.
There are experts in the business, of course, so also look to advise from these individuals as they are most likely the best bet for reliable information on the business. Take note of even the smallest things during the research period and pay close attention to how to stay and survive in the business. The research is as important as anything in the business.
2. WRITE A BUSINESS PLAN
A business plan needs no introduction. It is equally as important as some of the other processes or things involved in the business. After a comprehensive and thorough research has been conducted, entrepreneurs must now put all their ideas into paper after, of course, deciding to start the business. The business plan will cover things like the way you plan to operate, the cost of several things, how you plan to market your business, future projections and also contingency plans.
The business plan serves a number of purposes. In cases where individuals might need to get investors or even get a loan, it will prove useful as it will contain all that needs to be known concerning the business. It is also going to serve as a point of reference for the proposed business.
3. GET TRAINED AND REGISTERED
At this point, you’ll need to get trained and acquire the neccesary skills pertaining to this business. You can meet up with experts in the industry and get to learn from them. You can also choose to enroll in a place where you can be taught. The training is not always intense and infact it doesn’t even really require too much stress on your part. Once you’re focused and committed to what you’re doing, you’ll definitely finish up and be ready for the business in no time. As an alternative or rather as a plus, you can use the internet to get tutorials, articles or videos that can help you in getting equipped with the neccesary skills for starting the business. After getting trained, you’ll need to also get registered with regulatory authorities to be legally approved to operate.
4. CAPITAL AND LOCATION
The capital is always important to the start of any business. It helps kick start the operations and properly start running the business. It will cover the cost of all the things needed for the business including cost of registration and location. You can create a list for the things needed and use it to estimate the capital needed for the business. Capital can either be from personal savings, loan from friends or family members or from a bank. For location, you’ll need to get a place where customers can come in and order for your service. You can get a low cost place that is well situated in a place where people can easily come in and get what they want. You will definitely need a team if you’re getting a place. Ensure they’re experts who know what is required in the field. You can also decide to operate alone and this can even be done from the comfort of your home and you’ll just need to specify the services you’re offering and also do them from home. A computer or smartphone is a recommended device for this business.
Here, you get to use your training and expertise on your business. You’ll need to advertise the business and like I’ve mentioned, there are several ways to go about it. When the marketing is done well, there will be totally no problem in getting customers and making your profit.
The advertising agency business is one that is really in demand for different reasons as stated above. It is also lucrative and you’ll have almost no trouble at all enjoying it if everything is well set up.