Like I said in my previous post, with over 200 million active mobile users, that is a testament to you that there’s opportunity in this market. there’s huge opportunity in the Vtu market right now.
Before starting your vtu business, proper planning and execution must be done carefully. The essential actions that are needed to launch a profitable vtu business in Nigeria is what I will be writing about on this blogpost.
Here is link to the previous post
The first thing is to prepare a Vtu business plan. Yes you don’t want to go and start a vtu business without having a proper plan in place. If not, you will just be moving in confusion. A business plan helps you direct your path, it helps you to stay on the right course and a well outline vtu business plan in Nigeria needs to includes the operations, the infrastructure, the pricing and the different Revenue models, your marketing and sales strategy.
Then you talk about your SWAT analysis, your business objective and goals. it’s very very important. So while you’re working on your business plan, you need to obtain the essential business permissions and license. First is by registering your company with the corporate Affairs commission (CAC). Then the next thing is about securing funding, that’s if you don’t have Capital.
To secure funding, you need to calculate your startup cost then decide how much money you need and how you’ll be able to source for these funding and fund the business. If you’re looking for funding, definitely you need a business plan. No investor will give you money without seeing a written business plan of your VTU business. Watch out for the concluding part of this business model. You can also make use of other resources via youtube and other blob articles. Here is one to start with
