Merchant Business
Minimum Capital Requirement: Zero Capital
Summary: Merchant business is your normal buying and selling. You buy at an amount, add your own profit and sell. The profit margin depends on how rare the product is, your business location and few other criteria that would be explained shortly. The average profit is worked at between 5-20% of cost. Hence with a turnover of N100’000/week you can have a profit of about N20’000/week and N80’000/month.
Introduction: Merchant business can easily be divided into two; retail merchant service and wholesale merchant service. The wholesale merchant buys in bulk and redistribute to the retail merchants while the retail merchant sells directly to end users. The capital requirement for a wholesale merchant is very high however a retailer can start with zero naira, depending on how well the retailer can explore the credit facilities of the wholesalers. With an average profit of 5-20%, merchant service is one of the easiest form of high profit generating business.
Required Resources
- Assets
A disbursing center example shop, cart, kiosk, office, mobile etc.
- Personnel
An assistant (optional)
- Capital
Zero to infinity (The more money you have to invest the larger your profit)
Required Skills
- Good marketing and selling skills
- Excellent haggling skills
- Excellent market prediction (when to sell, hoard or buy)
- Financial discipline
- Good accounting skills
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