How to run a successful Online Shopping and Real estate business

Getting to start and run a successful online shopping business in Nigeria require so much. From marketing to logistic and many more. Although, some find it hard to believe that business can succeed online in Nigeria, people that have been there known that this is do-able.

For example, Maybrands – a leading wristwatch selling online platform has been able to operate successfully through their cutting edge logistics and selling of designer brands.

Within the commercial property space, you can decide to build shopping malls such as the Ikeja City Mall; where you can decide to sell or rent out your shopping spaces.

Shoprite and the like of Maybrands that sells various men and women fashion accessories are your potential customers

Real estate business is one of the most valuable ventures you can go into and make profit all year round. In fact, many have become rich starting their own property business from scratch. You too can do this.

To do this, you need to have some basic knowledge of the business sector you are going into. Due to many reasons, it can sometimes be a task to build your own property portfolio; or manage other investors’ portfolios for them. For this reason, many people, over time have always asked this one question starting and running a profitable property business.

I got a full answer here on how to start a real estate business and go through each step in this article.

Are you looking to start a property business as an agent or a developer? You are looking to make your first investment in the real estate business; here are the basic steps you need to take.

1. Decide on which sector you want to go into

First thing first, you need to set a clear goal on what you want and where you want to position yourself in the sector.

The sector I am referring to here is; Are you looking for an agent, a property developer or a financier in the real estate business. Whatever your decision, be sure to see it through. Although, you may be involved in all three sectors or two of them. Sometimes, they combine yield more profit.

2. What type of real estate person are you interested in?

Just like any other business, you need to decide on the type of property you want to be involved in. You may choose from any of the below:

• Landed Properties;
• Residential Properties;
• Commercial Property; spirit
• Industrial Real Estate.

Whatever your decision, you need to think it through thoroughly.

3. Create your business plan

Creating a good business plan for your property venture is a fantastic thing; it gives you directions and focus. At the same time, it helps you navigate through all the unknown storms within the property venture.

With a good business plan, you can always fall back on it when things are not going the way you expect.

4. Start Small

As a rule of thumb, it is always advisable to start small and build your portfolio over time. Also, starting small reduces your risk in case things don’t go right.

As you may know, the property business sometimes encounters downtime. Therefore, starting small minimizes your risk

5. Get Necessary Approval

What country are you from? and where will you like to build your business?

Always make sure you have the necessary government approvals for your real estate business. This is always a good idea; Not only for real estate business, but also for any other type of business you are entering.

For example, in Nigeria, Estate Agent and Agent Agent of Nigeria is responsible for some kind of license needed before you can start a real estate agent business.

6. Market your business

How do your prospects get to know your business? You need to market it.

You selected for marketing strategy based on various factors. Nevertheless, there are various platforms available online for you to market your business.

For instance, I have used  property for rent in Lagos platform to market my rented properties.

In conclusion

Whatever you do, remember to get one form of training or the other in this sector. If possible, get a mentor for yourself. It is always good.