How to Start Profitable Fashion Business in Nigeria 2019

You will definitely agree with me that the fashion industry is one of the fastest growing industries right now in the whole world.

And Nigeria doesn’t seem to be an exception in the list of countries where fashion is making a big boom at the moment.

This article clearly explains, in simple terms, how you can easily start up your fashion business in Nigeria.

Before making your decision on whether to venture into the fashion business world or not, you must be well aware that the industry requires creativity, that is, coming up with new ideas and you must also follow what is trending.

 

1. Write Down a Business Plan

There has never been a business that has ever succeeded without proper planning. Now that you know that fashion business, especially clothing, is such a lucrative business that can survive any form of economic crisis, it is essential that you plan how to work your way to the pinnacle of the business. This involves getting things right from the onset and putting the right energy.

First and foremost, you must be sure of your funding and capital for there is no business that can thrive without startup capital. Then after securing the startup funds, think about the niche you want to go into. This will determine your budget and expenses.

Make a feasibility study by asking questions and seeking information from stores or those that are already in the business. Write down all the information obtained and then proceed to the next phase.

 

2. Build a Brand

It is essential that you build a brand for yourself. Your brand tells people about your business and your reputation. Make your brand simple and easy to relate with, unique and eye-catching. Do not forget to also follow the trend.

You wouldn’t want to build a brand around outdated ideas and concept. Make sure you build a brand that is easy to market and devoid of controversy as this may tend to tarnish the brand right from the onset.

 

3. Register Your Business Brand

It is advisable to register your business trademark and brand. This will help protect against piracy, theft and also ensure copyrights. Registering your brand will make your business more recognized and increase trust among customers.

 

4. Create Your Own Design

This is the first thing that needs to be done in the world of fashion. You will require thinking outside the box and creating your own designs.

You must be creative in your thinking in coming up with your design. It is a two-way thing. You may decide to come up with a new idea and style, which will easily captivate people’s attention in a unique way.

You may decide to replicate what is already trending in a more unique dimension. When you attend fashion classes, events, and interaction with stylists, it is easy to know what you can think about.

 

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5. Come Up with a Sample

After you have been able to create your own design, try as much as possible to bring your creativity to life by making a sample of it. This will make you proud of your own ideas. You can start by making a sample of your work locally. By doing this, it is less expensive and easy to go about.

Try to evaluate if your design meets up with the requirements or specifications for which the material is needed. You can get a few people to check it out and check the style and fit.

 

6. Finding a Factory

I believe at this stage, you will have come up with the sample of the exact shape and style of what you need. The next thing is to find a factory that can help you produce these samples in bulk and according to the various sizes and design.

You can search the internet for a manufacturing factory you can use, but I’m well informed that many Nigerian fashion businessmen use Chinese factory and I greatly recommend Guangzhou. Once found, make sure this factory can help you make a prototype of your sample without blemish.

I suggest you take your time to go through the list of factories and then choose the one that is ready to offer you the best services, for this stage of production is the most important aspect of your business. Remember you can only get enough customers if what you are delivering is top notch.

 

7. Packaging

Now you have survived the hassle and stress of getting your products from the factory.

The next thing is to package and brand it in the most enticing way. Customers want their products to be delivered in good and neat condition. Here, you must put a lot of effort into arranging, boxing and putting everything in good condition. This will help you secure a good reputation and also increase your recommendations among your customers. You should also learn to deliver as at when due or needed.

 

8. Marketing

Marketing is the backbone of every business. It is advisable to build a very strong customer channel when venturing into this business. There are a lot of methods by which you can market your products. The advent of social media has made marketing easier.

You can easily set up an Instagram page. This will help you promote your products and help you get followers and customers to check out your products. You can also run Facebook ads to promote your products.

You may enroll online for some social media marketing classes to learn the basics of social media marketing. It is also advisable to contact a sales expert before you invest any money into promotion.

 

The Pros and Cons of Fashion Business in Nigeria

The Pros
  • It is a very lucrative business
  • There are high demands for fashion products

 

The Cons
  • Marketing & Sales: It is hard to build a reliable distribution channel in Nigeria. It can be very difficult for many fashion entrepreneurs. In this case, they need to hire an experienced sales expert who will help to rake in profits and in many cases, these experts tend to take the highest percentage of profits generated. The problems fashion entrepreneurs face in marketing their products cause many to encounter losses which, eventually leads to a lot of businesses folding up.

 

  • Sourcing credible manufacturers: Finding credible manufacturers in foreign countries can be a difficult task, especially when you are limiting your research to the internet. With many non-producers faking themselves online as good manufacturers, getting a factory that will actually produce what you want in the right quality, quantity, and price can prove difficult to find.

 

  • Competition: The fashion business in Nigeria is very competitive, and so it is difficult to make a profit unless a fashion brand can come up with unique creativity that will help distinguish itself from others and still create a reputable and outstanding business concept. While delivering superior service at very reasonable prices, the fear of running out of business will not be a problem.

 

Consider Starting Other Businesses in Nigeria

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