How Profitable is Vehicle Tracking Business in Nigeria?
The contemporary world has developed magnificent technologies. What was science fiction in the 1980s or 1990s is now reality. That which seemed impossible to our grandparents, is our common life. This is the case of vehicle tracking . If you want to know more, this is the right article.
Starting a vehicle tracking business in Nigeria can be one of the most productive ideas today. And it is that a business of this type puts you to work in direct contact with security. A safer life is something that everyone wants and that a large number of people finance.
A vehicle tracking company will allow, for example, to track down a car that has been stolen or to check where its present location. Of course! A company of this type does not ensure the elimination of car theft, but it is a key piece in the fight against this type of crime. Without a doubt, you will not lack customers.
Is it a profitable business?
Among the tracking services, the vehicle is one of the most booming in recent times. It is valid to remember that not only as individuals do we monitor our car, but also companies pay special attention to the vehicles they own or hire. On the other hand, governments are part of the consumers of this type of technology.
In this way, this business has two profitable sectors. One of them is private. This does not bring large income, but a large number of users. The other sector, the private sector, brings with it fewer clients. These will demand requirements, but accordingly, they will pay for your services with a large figure.
How to open a vehicle tracking business
Entering this business is not complex. With the following guide, you will have a clear and precise idea on the subject.
Understand the Market
As in any business, you must thoroughly understand the market you are entering. There are two basic points that will govern the progress of your company: the safety of light-range vehicles, that is, family vehicles, and heavy-range vehicles, that is, commercial vehicles.
Therefore, among your potential customers you will have individuals looking for more security and also companies. Many times the latter are the most interested in hiring vehicle tracking services. The reason is very simple, many times their means of transportation move valuable merchandise. They do not want to lose such a large amount of money. Therefore, they will invest in vehicle safety.
Another important element is that the need for vehicle tracking arises, above all, from urban violence. If you are considering a business like this, then focus on city spaces.
It is a step that must be followed by anyone interested in opening a business. Planning brings clarity and organization. Thus, you must write a report in which you expose all the edges of your project. Refer to the advantages, the budget you need to open it and the profits you can bring to future investors.
The structure of a vehicle tracking company depends on the type of services it offers. For example, if you only offer location options, then you need all the right equipment for this type of tracking. Now, regardless of the service offered, internet access must be continuous and without failure. This means that you need a no-break system.
Something that should not be missing is the possibility of providing a 24-hour service. There must always be an employee monitoring the vehicles that have been registered.
For the structure of your company, it is also important what type of vehicles you are going to track. If you specialize in light cars, the tracking softwares are simple, while monitoring the complex ones requires more complex programs that may require satellite tracking. The choice of one or the other will depend on the market study you have carried out.
Service centers and telephone exchanges are of vital importance. These are spaces dedicated to customer service, either in person or remotely, when they need any information or advice.
Equipment and investments
The investment of a vehicle tracking company in Nigeria is closely related to the project you want to develop. In other words, the software that really matches the type of service that is being provided must be acquired.
With some variations that depend on the specifics of your business, the equipment that you cannot miss are:
- Desktop computers
- Office furniture such as cabinets, tables, chairs
- Air conditioning and/or heating. This depends on the climate of the city where you open the business
- Server to save the information
- Localization software
- Office supplies such as staplers, pens, papers, printers, etc…)
The time has come to think about how to legalize your business. It is important that you acquire your operating license and that you pay attention to all the documents that you must present so that your company is duly registered.
It is at this stage that you should contact an accountant who will guide you through the opening process.
Location and staff
It is time for your company to stop being part of your dreams and become a physical place. You may think that in times when the internet makes all kinds of communication possible, a tangible location is not necessary. However, clients feel safer if they hire the services of a company that has a headquarters, with people they can locate and question.
You need to find a suitable location that matches the size of the vehicle tracking company you want to open. It is essential to determine which is the best place in the city to locate your company. For example, we recommend targeting areas with high business and technology movement. This will increase the prestige of your business enormously. Remember that a good location is the first and one of the best marketing strategies to promote your company.
On the other hand, buildings found in areas such as these are equipped to protect the goods inside. They also have a contingency plan in case of a high-risk situation.
Also, the staff you select will largely determine the fate of your business. The selection of employees must be well thought out. Hire people with experience and above all with the necessary knowledge to obtain positive and effective results.
Some of the jobs you will need to fill include:
- equipment installer
- Team of sales specialists
- Support analysts
- business process
Vehicle tracking: procedures
- Acquisition and first contact with the client
- Request for proposal
- Closing of the order
- Service order generation
- Tracker Installation
- operational tests
- technical approval
- Customer registration in accounts receivable
- Issuance of collection tickets
The best way to publicize your business is through mass marketing. Why? Well, it is a service that can satisfy many people. Also, all those who have cars are potential customers who can ask for your help.
You see it? It is not as difficult as you imagined. Starting a vehicle tracking business in Nigeria can be a quick and definitely very effective process.
Study the market, prepare the business plan. In this way, you will know what the best decisions are. Vehicle tracking may be the opportunity for success you’ve been waiting for.