HOW TO START AN INTERIOR DECORATION BUSINESS IN NIGERIA
As part of the programme outlined by the Kusnap Entrepreneurial Institute, Kusnap (www.kusnap.com) helps Nigerians to start or reposition their businesses for the sole purpose of lifting people out of poverty and adding to the economy of the country. We shall be talking about the interior decoration business in Nigeria. The interior decoration business is one of the most popular businesses in Nigeria at the moment. Over the years, things have changed in that aspect and individuals now seek experts who will help them design certain places for a price. These experts help with putting the best possible designs and make a place really nice and pleasing to the eyes. The business is quite popular although it is not practiced by many, which makes it a good option for any entrepreneur looking to start a business. It is lucrative and also the kind of business that will surely be around for a really long time as the industry keeps improving every day.
The business, just as the name implies, involves decorating an indoor area to make it look extremely beautiful and aesthetically pleasing. This is mostly practiced in houses even though there are other places where such experts can still go about their work. Today, once homes are built, the next thing in line is getting an interior decorator to help with organizing and also making the house look very nice. If there is a way you want your house to look, all you need to do is just get an interior decorator, inform the person of your plans, you can get your dream house setting for an agreed price.
The business does not only caters to new houses, as old houses can also be decorated with the help of an interior decorator. In the past, individuals did not do much in terms of decorating the house or maybe, they just did not see the need for it, but as the world evolves with technological advancements here and there, it has become almost like a big part of organizing a house. So for individuals who probably have no decorations before or are just willing to change the way their houses currently look, they can simply do that with the help of interior decorators. They change the way a place looks and you would almost not recognize your own house afterwards.
One of the main reasons why the business is such a good idea is the fact that interior designers or decorators are very much in high demand in the country. Houses are built on a regular basis and even without building a house, some people might just want to decorate their office space or rented areas, studio, restaurant, and other places like that. The interior decorators help with this and also ensure that a place is designed to meet the needs of the customers. It is also worthy to note that despite this high demand for experts from the business, it is also not widely practiced and it makes it a good business option that can bring in customers and fetch entrepreneurs high profits. When demand is good, it means there will not be a problem getting customers and you will also be able to make your money in no time.
The business is also one that doesn’t really require big capital to start. You can simply start with just a very little amount, and as your customer base increases, you get whatever you need and use it to produce a very nice design or decoration. You also do not necessarily need an office space or a location where the business is to be situated. It can be successfully run from the comfort of your home without any issues at all in getting the business underway.
It can also be started by almost anyone provided they are well equipped with enough information and training to go about the business. You do not need any kind of educational qualifications or prior experience. However, you might need casual training to be able to pull off certain designs and to also get better at the business. Once all these criteria are met, then the barrier to start a decoration business is lifted.
Starting the interior decoration business is not a hard thing to do. You just need to be trained and then be quite versatile and follow trends to be very successful at the business. It is something that can be operated fully from the comfort of your home. Besides, an online presence, marketing, and other connections could help to reposition the business, even though they are not compulsorily required.
In the next subheads, we would be discussing the steps involved in starting an interior decoration business in Nigeria and some of the things that might prove useful during the business to ensure that you are doing the right thing and also making sure you are successful at the new business.
No matter what you have heard someone say about a business and how well success is assured or how lucrative it would turn out, always try to do your research. The research might not cost anything much except your time that time might prove to be well spent when the business starts and successes gradually starts leading the way. Therefore, research is indispensable as it is important to do a thorough investigation about the business since you are going to be investing your money into it and you have never been involved in the business prior to now. A few hours of research will not hurt!
Research is always meant to give you an idea of what to expect and the challenges ahead to be faced. It teaches future entrepreneurs 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, which is more like being less equipped about something especially something you plan to spend money on.
There are experts in the business, of course. So, always look for advice 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. Research is as important as anything in any 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 a business. After comprehensive and thorough research has been conducted, entrepreneurs must now put all their ideas into a blueprint and get ready to start the business. The business plan should cover things such as the way you plan to operate, the cost of items needed, how you plan to market your business, future projections, and contingency plans.
The business plan serves a number of purposes. In cases where individuals might need to get investors or loans, it will prove useful as it will contain all that needs to be known about the business. It is also going to serve as a point of reference for the proposed business
3. GET TRAINED
As an emphasis, before stepping into commencing an interior decoration business, the proposed business owner might have acquired some level of training, either through the internet or a mentor. Designing or decorating a place may not be a very easy thing to do as it involves quite a number of things as well as precision. You can either enroll in a school or a place where you can be taught or get an expert or someone who has been in the business for a while and get them to teach you. There is also an option of learning online, where you can get enrolled for a course and also make use of YouTube to learn certain things about the business.
4. CAPITAL AND LOCATION
Just as we stated earlier, you do not necessarily need a location for the business which, of course, eliminates the option of having a big capital to start your business. You can simply work from home and still meet up with potential clients at public places. Start-up capital could be very low depending on the start-up scale as you do not need too much thing. You will definitely need a smartphone and/or a laptop. In the case where you need additional help, you could hire a few hands to help with the work.
You will need to work on your portfolio and then make connections with people in the field as well. You can meet up with real estate companies and see if they need your services. You will need to unavoidably create an online presence for your business. Social media is very effective and can be used for the business. Simply create social media accounts and advertise the business through the platform. You can also encourage your customers to inform other people. Promos and discounts will also help in getting customers.
Kusnap offers mentorship programmes to raise entrepreneurs in Nigeria, and subscribing to its services (free of charge) could help to add value to your business.