How To Start A Fashion Business In Nigeria-Fashion business is one of the thriving business to run in Nigeria, most especially the female category. In this article, we will show you how to start a fashion business in Nigeria. It is not enough to have the interest/ passion to do a business, you must have the right knowledge if you don’t want to run into loss.
How To Start A Fashion Business In Nigeria
Fashion emcompasses manufacture , sales, importation and exportation of fashion items. Fashion items usually include clothes hoes, bags and some accessories. Below are the tips you need to start a fashion business in Nigeria:
Tip 1: Identify the category of fashion business that interest you.
Fashion business is in the following categories:
- Fashion design
- Fashion retail business
- Fashion design
The 3 categories are good and profitable, it is up to you to choose the one that you will be able to and do very well.
Tip 2: Get a business name and register it
If you are getting into fashion business and you really hope it will become a serious entity in the nearest future, you should have a business name. Even if you want to start selling by the road side with just few clothes or in front of your house, it doesn’t cost anything to have a name .
In choosing a name, choose one that is related to your fashion business . For example, “Obinna wears”, “Olabisi trends”, etc. You can register the business name online, it doesn’t cost much to do so.
Tip 3: Start small
Even if you have big dreams/ aspirations for your fashion business , its good you start small, start from the known to the unknown. Don’t go and collect loan to rent a big shop and load it with plenty clothes when you don’t have idea of who is going to buy them from you.
The fact that you opened a new shop and paint it gold with beautiful clothes stocked in does not automatically translate to customer rushing to buy from you. So start small and then start growing from there.
Tip 4: Source for suppliers
This is important when starting out a fashion business in Nigeria. Search for suppliers that would offer you quality clothes at affordable prices.
Tip 5: Do market survey
Before setting up a fashion business in Nigeria, you need to do market survey . Find out what kind of fashion stores are in vogue, profitable and with good turnovers. Also find out the selling price . If you are thorough with your market survey, you wont have issues when you start operating your business in Nigeria.
Tip 6: Take time to learn from the professionals
Before starting out fashion business in Nigeria or any other business, its good you learn some fine details about the business. Look for someone established already in the fashion business in Nigeria. Go and learn under the person for some weeks.
The truth is this: no matter how many books on business you read, there are some critical skills you wont ever learn from the pages of a book. You would learn such from sitting under the tutelage of a pro.
Tip 7: Start promoting your business
This is very important in getting established and getting a good customer base. It may even cost some extra funds, but you would soon start seeing the result.
These are some of the ways to promote your fashion business in Nigeria:
- Get a business name
- Get a unique logo
- Get a business card
- Get a unique business card, this should contain your business name , phone number, emails and social media handles.
- Get on social media
Take advantage of social media to promote your fashion businesss in Nigeria. Facebook, twitter, Instagram, tiktok and whatsapp (the 5 digital senses) are widely used by small business men/women all over the world to promote themselves.
Tip 8: Physical location is not a must
You don’t have to use a lot of money to rent a shop to start up your fashion business in Nigeria. In fact, a lot of Nigerians do fashion business on a large scale without having a single physical location. Once you can maximise the digital space very well, you wont need a shop. The money you want to use to rent a shop can be used to run some profitable adverts online.
Tip 9: Source of funding
If you are going to do fashion business in Nigeria, you will need funds to get equipment and also to get an outlet for yourself. If you are starting out as a fashion designer, you will need funds to get equipment and also to get an outlet for yourself . If you are into fashion retailing or wholesale, you will need funds to purchase clothes from your suppliers whichever category of fashion business in Nigeria, you are going for, you can source for funds via the following means:
- Personal savings
- Gifts from family and friends
- Soft loan
- Bank loan
- Business grants
- Angel investors
Tip 10: Have a business plan
This is very important. Your business plan contains the summary of your business, vision, strategies, mode of operation, expected profits , etc. A business plan will give you a sense of direction and also will be of great value when seeking for funds from external source such as banks
Tips To Having A Successful Fashion Business In Nigeria
1. Let your customers trust you
If you are going to have a successful fashion business in Nigeria, you must gain credibility with people, let your customers trust you. Whatever you promise, you must deliver. Don’t post a particular quality of material on your whatsapp status and deliver a lesser quality to your customer. Once your customer can trust you, they wont stop coming, and moreso they will bring other customers for you.
2. Go for quality
Never compromise quality , even if it looks expensive. The truth is this , quality fashion items last longer than inferior ones. When people know you sell quality fashion items, they would look for you.
3. Be consistent
If you are going to succeed running fashion business in Nigeria or any other business in Nigeria or any other business in Nigeria, you must be consistent or persistent. Once you are convinced that this the right business you should do, then you should stay in right there.
Keep opening that shop even no customer pops in, keep posting those shoes and bags on your status . Someone is actually and possibly planning to patronize you soon.
4. Be confident
You must have some self-confidence if you are going to be successful in your fashion business in Nigeria. If you don’t believe in what you are doing , nobody will will. Believe that if others are thriving in this business, you too will.
5. Carry your market on your head
You must be proud of what you do. Don’t be ashamed of your business. Talk, eat, sleep and smell of your business until it becomes your middlename. For instance, when you show up among your friends: her comes Arike , the bag seller.
Challenges With Running Fashion Business In Nigeria
1. Increasing cost of production
Because of the fluctuations in foreign exchange, it has caused price of raw materials to be on the rise regularly.
2. Setting up can be capital-intensive
This occurs mostly with people that wants to go for a fashion design business. You will require a huge capital to procure equipment, tools and materials you will need for your business. All this can come at a high cost.
3. Competition can really be high
There is really no new business. Someone is already doing the kind of business you are planning to start. At times, the competition can be so fierce and sometimes mild.
4. Getting credible suppliers
At times, it can really be difficult get credible and reliable suppliers. The fashion business in Nigeria is already saturated with some fakes/ quacks parading as the real deal.
One of the most profitable business to run in Nigeria is a fashion business. If you have a good sense of fashion and are able to keep up with trends, you will do well running fashion business in Nigeria.
Frequently Asked Questions
Can I start a fashion business in Nigeria with no money?
Yes, you can do fashion business in Nigeria without money. You can become a dropshipper selling fashion items. All you need to do is to find a reliable supplier, get cool pictures of the items and start promoting on your social media page.
What skill do I need to start a fashion business in Nigeria
To start a fashion business in Nigeria or in any other country, you need the following skills:
- Good fashion sense
- Attention to details
- Communication skills
- IT skills
- Decision making skills
What is the cost of starting up a fashion business in Nigeria?
With about 500,000 naira, you should be able to begin a fashion business in Nigeria. The money should be able to take care of rent, labour and necessary equipment.
- www. dayoadetiloye. com- How to study a fashion design business in Nigeria.
- www. Startuptipsdaily. com -How to start a fashion business in Nigeria: The complete guide