Executive Summary of Music Equipment Business plan in Nigeria

In this post, I will show you how to start your won musical instrument rental business in Nigeria. This is another secrete business idea that you can make a lot of money from it. The business is very lucrative since there is low competition in the niche.

Today in Nigeria, a lot of occasions are happening here and there. These people hosting these occasions definitely would need musical instruments.

NCS Musical, Multimedia and Events Equipment Rentals bring to Lagos a new breath of air in the multimedia and general events equipment rentals market. NCS Musical, Multimedia and Events Equipment Rentals Company offer the range of these listed services; sound equipment rentals, multimedia equipment rentals, multimedia consultancy, audio equipment rentals, multimedia consultancy, audio equipment rentals, multimedia projector hiring, stage management, light equipment rentals, event equipment rentals, stage construction, multimedia device installation, event planning management, sound system rental, sound and visual management with a seamless online and offline execution.

NCS is an equal opportunity business making its expertise and its products available to help its customers organize a successful event. We render renting services for all multimedia equipment like musical, video, DJ equipment, metallic stage, truss for speakers and lightning, event chairs and table, also featuring DJ services and a live band Through these and other affordable products and services, NCS aims to be the number one resource for any event.

Executive-Summary-of-Music-Equipment-Business-Plan-in-NIgeria

NCS also specializes in corporate customers. We offer variety of services, for the corporate world e.g retreat training services, Gala night, Award Night, Company’s Hangouts as well as product launch event planning. We can take care of providing all the necessary equipment to organize a world class event, be it small, medium or large scale events as well as actually hosting through the use of one or more of NCS’s strategic business partners.

The market for event equipment rental is steady and profitable. NCS intends to profit nicely from our many event vendors, no matter the economic downturns, most people still need someone all or any of their events because it’s safer, it’s cheaper and better. In short, the need for event planning/hosting services rarely diminishes, it is a steadily increasing demand that NCS will capitalize on.

We projected growth rate to be over 100% through year three and will have profits as a function of sales over 11% by year three. By the beginning of year two NCS will have 25 employees.

VISION

To become the strongest brand in musical and sound equipment rentals in Nigeria

MISSION

To always exceed our customers expectations in service delivery and products range.

OBJECTIVES

To serve our customers beyond their expectations
To have a clientele return rate of 90% by the end of first year.
Produce same quality results, every time
To increase the number of customers by at least 20% per year through superior customer service and word-of mouth referrals.
To create a solid awareness scheme to inform our community and city our products and services

Our Goal

Be one of the top three musical equipment rentals business in Southern and Western Nigeria within 2years.
To make the customers experience new exciting features each time they visit.
Communicate with our client base through the website and personalized communication techniques.
Retain clients to generate repeat purchases and initiate referrals.
Lowering overall costs whilst increasing efficiency.

THE MOTTO

Passion, innovation and creativity!

CORE VALUES

Excellence
Integrity
leadership

MILESTONE

Office space 10years lease-paid
Installation of internet facility, office equipment and alternative power source- completed
Recruitment of staffs in progress
Vehicle Purchase in progress
Website design and brandings in progress

KEY TO SUCCESS

Quality and Excellent Service:

we are offering excellent service and firm relationship with our client which are not available everywhere. This is essential for maintaining a long lasting profitable and healthy company.

Profit:

Significant profit made on equipment rented, and our quality live band performance success is a fuel for growth

Pricing:

Competitive pricing for the quality of services offered

Convenience:

when our clients are offered one stop solution to plan and execute their events without shedding a drop of sweat

Reputation:

Consistency, Credibility, integrity, and 100% dedication

Executive-Summary-of-Music-Equipment-Business-Plan-in-Nigeria

Market Research

The breakdown of the market for Musical & Events Equipment Rentals falls in a wide, very diverse grouping. Individuals as well as organizations demand the services we provide. In order to provide the greatest depth of information, the market segments have been broken down into private and public organizations, and age groups. There is a movement towards horizontal integration in the greater events industry, with some full-service event providers growing to provide entertainment, audio-visual and technology, catering, rentals, decor, venues and more. Businesses that provide these additional services may take on assets that are not as fully utilized as a specialist’s would be, but they can earn greater margins on the sales they make. With its opening of NCS Multimedia and Events Equipment Rental will become part of this integration

Product/services

We will offer musical, video equipment rental, tents rental, metallic stage and truss for speakers and lightning, trucks for carrying the equipment, event chairs, and tables, DJ Equipment, a live band(the live band is a part of the company which includes instrumentalist, sound/audio engineer). Our frequent clientele falls under the below categories

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Management team

Jude Okon- He is the founder and owner of NCS Musical Event Equipment Rental, has a multitalented business administrator who has been in the tourism and hospitality industry for over 25years. He studied business administration from UNIBEN, he did his masters in business administration in Lagos. The primary employee is the founder, who plans events, then contracts with caterers, decorators, disc jockeys, and bands to fill out the event. A contract labour site manager will be on hand to work the events as a liaison and vendor coordinator. Thus, there are two main employees with various levels of vendors.

Ajah Johnson– He is the Facility Manager to act as a manager of the hall. This will include providing information to vendors setting up in the space, providing access to the clients for set-up, light maintenance and repairs, contracting vendors for heavier repair work, and setting up cleanings of the space. Event managers from the catering staff will be present during the events. He is certified project manager expert and has over 6years experience managing facility for Andreas Event Rentings Port Harcourt.

Kemi Philips- She is into general contracting, and a professional sales and marketing expert. She read marketing from the university of Port-Harcourt, she is also a master’s degree holder in digital marketing from the university of Lagos. She has 15years in general contracting, marketing and branding.

Executive-Summary-of-Music-Equipment-Business-Plan-in-Nigeria

Financial Plan

Salaries and rent are the two major expenses, while depreciation is another significant cost that will increase as the company develops.
We want to finance growth through cash flow and also through investor grants or investment bank loans.

Important Assumptions

We accept cash and checks, Visa, MasterCard, online transfers Express. All sales paid via credit cards will be deposited in our business checking account within 48 hours.

The business will reach positive cash flow in its 2nd year of operation, allowing for expedited repayment of its loan obligations, as well as for dividends to be paid to the owners. Revenue will top N10, 000, 000 and profit will reach about N20, 000, 000 in the 2nd year of operation.