How To Start A Cloth Fashion Boutique Business In Nigeria.
How to start a cloth fashion boutique business in Nigeria
Cloth fashion boutique business is one of the few businesses that can make one a constant source of income every month without stress.
If you have ever bought a cloth from a boutique you will understand what I meant by the above statement.
In a cloth fashion boutique business you will see a Top (polo) that is been sold for over N6,000, and if you are to know the price the top was purchased you will be dumbfounded. A piece of polo top that is sold for N600 in an open market can be sold in the boutique for N6000.
REASONS FOR STARTING A CLOTH FASHION BOUTIQUE BUSINESS IN NIGERIA.
IT IS VERY PROFITABLE.
Cloth fashion boutique business is a very profitable business that can make you over 4X profit per item. Imagine having 4x profit from a cloth you bought for N500, this means cost price is N2500 making a profit of N2000 per item.
It is very possible for a cloth fashion boutique business to sell over a hundred cloth per month, which will amount to over N200,000 monthly.
IT IS EASY TO RUN:
Fashion boutique business is by far one of the easiest business to operate without stress or any special skill. What the business requires from you is to buy your product and package it.
Unlike some other businesses where you will have to travel far and wide just to get your product, cloth fashion boutique business you can actually other your products online from some of the popular and effective e-commerce site online like eBay, Alibaba, and some others.
You can also call your major supplies to waybill your goods to you and you will pay on delivery. Gone are the days where we have to travel East to west just to run our business.
YOU ARE YOUR OWN BOSS:
Being your own boss creates an avenue for you to be productive in your business. you will not wait for someone to tell you what to do, you will only do things that you are sure is for the interest of your business.
Being a boss at your places of work provide you with the opportunity to utilize your time very well without being control or monitor by anybody.
REQUIREMENT FOR STARTING A CLOTH FASHION BOUTIQUE
BUSINESS IN NIGERIA.
STUDY THE MARKET:
You should study the market to know which niche will fit you and which niche you can really do well. You cannot be selling cloths of youths where you are in a place where only market women and their children come to.
Studying the market also include getting full information on how to buy and sell the products.
You should also try to find one or two things that the other markets are doing wrong, then try to make it right when you start your cloth fashion boutique business.
A GOOD LOCATION:
A good location will be a jackpot for your cloth fashion boutique business if you happen to have one. Now, this will be possible if you have studied the market very well and you know everything about the niche you are targeting.
If you are targeting younger people, you should consider a school environment.
Don’t be afraid these businesses do not require N1,000,000 to set it up though there are some that took over that amount to set up.
For a small cloth fashion boutique business, you just need N100,000 to N200,000.
Over N50,000 will be used to rent the shop and the rest can be used to decorate the shop and buy the stocks.
To buy stocks (cloths) for your business is now very easy. At first, you will have to build a relationship with some suppliers by buying from them one on one.
After you know them and how they sell, you can now start to order from your business area without going to meet them up.
Your product will be way billed to your location then you can pick up and make necessary payment based on an agreement.
This is making the product you bought presentable to meet a high standard when you can sell it for 4x the amount you use in buying it.
Most of this product is first and Okrika that was bought very cheap from those running Okrika business.
wash and iron the clothes very well and don’t forget to spray a very nice cloth spray on the cloths.
Some of these close might need a little stitching please do it with care.
This is like a tradition to all cloth fashion boutique business In Nigeria. They all have colored bulb inside the boutique this is to make the cloth look attractive to sight while inside the boutique.
EXPAND YOUR BUSINESS:
It is very dangerous to be okay with where you are even if you are making some reasonable amount of profit.
Taking your business to a greater hight should be the only thing on your mind.
You can decide to add some other things to your cloth fashion boutique business like selling shoes, caps, belts e.t.c.