Overview of Boutique Business in Nigeria
Setting up a boutique business is one of the greatest business ideas which is very lucrative in Nigeria.The fashion industry in Nigeria is a multi-billion sector which is one of the best in Africa. There is need for you to start your own fashion boutique business if you’re a fashion enthusiast.
People have a penchant for looking good by getting the latest fashion products in the market. Besides, clothing is a basic need of man, so why wouldn’t you start your own business when people are fascinated and engrossed in the latest fashion trends. Honestly, Boutique business in Nigeria is very lucrative,so you better think twice on this one.
Fashion contributes greatly to America’s economy and also, it plays a vital role in the Nigerian economy. Fashion evolves from time to time, each day comes out with its own fashion product brand. If you set up your own boutique business and have clothing lines like Versace, Calvin Klein, Givenchy, Gucci etc, you will make money and get to be patronized by people.
Everybody loves to look good. Even ladies like to wear the latest shoes, clothing accessories and fashion products in the market.
A good boutique should not only feature the latest fashion products and fashion trends in its store. The boutique owner should have a business plan and the knowledge about the business.
You should know if you are going to be buying in bulk from the manufacturers or are you going to be buying in small quantities from other retailers.
If you buy a shirt for N2,000, you are most likely to sell it for N3,500 or more and get to make a huge profit for a single sale.
Boutique business is really getting a fast pace among entrepreneurs and businessmen in Nigeria. Let us take a look at how you can start your own boutique business and make money in Nigeria with small capital.
How To Start A Boutique Business In Nigeria
- Get A Good Location
Location is very important in the fashion line of business. You can choose to open a shop in streets in any location. Also, you can choose to open your boutique business in an industrial area which is populated. Boutique businesses are common in locations in Lagos like Lagos Island, Surulere and Lekki.
- Choose A Design
Choose a design to sell or market. You must know if you are going to sell locally made fabrics or sell foreign products which are imported into Nigeria. A lot of persons choose to promote and sell foreign designs in their boutique. The decision lies on you to choose a design for your boutique business.
- Select the Type of Cloths To Sell
In order to beat off competition from other boutique businesses or business in Nigeria, you can choose to select the type of fashion products to sell. Will you sell Ladies clothing, Mens’ Clothing, baby clothing or children clothing. You can choose to sell all products at your boutique, but there is a high possibility that you will likely brat off competition when you sell a particular type of fashion products.
Capital is needed to start up any business especially boutique business in Nigeria. You must have a capital to start up the business. At least, N500,000 will be enough to get some products for yourself. Another amount will be budgeted to get a shop (the price depends on the location of the shop). At least 1.5 million or 2 million will be enough to start your own fashion business
Boutique Business in Nigeria is a very lucrative business and requires little capital and dedication. No matter the little amount required for operation and startup,the most important thing is the enthusiasm to succeed and make/generate sustainable income from it.