How To Start A Shoe & Bag Business In Nigeria 2019/2020 pdf
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Footwear is one of these necessities that we can’t do without as long as there’s always a place to go. Those who are in the business will attest to the fact that shoe making business is a gold mine opportunity. Starting a footwear business in Nigeria is easy and it’s one-act that will ensure a smooth inflow of millions,
one that comes without any disruption or whatsoever. This product is worn irrespective of what the occasion is, even when there seems to be none. The success of this business will entail putting in more work in increasing your customer base and supplying to your target market. The more you supply, the bigger the returns.
Fashion is the order of the day, if you can produce incredible wears at a cheaper rate than your competitors, you will soar so high in this business. It can virtually be started by anyone, both rich and poor. No one has an excuse about not making money.
How to Start Foot wear Business In Nigeria
1. Get A Training
Before you start this business, it’s very important that you acquire some training first. The most common practice here in Nigeria is staying under someone for sometime, six months or a year before going ahead to set up your business. This is called apprenticeship and it comes with lots of benefits.
For example, it’s mandatory that your master get to pay you some huge amount of money to start your business, which will no doubt cut down on the capital needed to start. Although this is done when your years of training is completed.
If you on the other hand have a huge capital to invest in this business, you will certainly prefer employing experienced staffs, craftsmen and many other personnel that will aid production. This is definitely large-scale and with this, you’ll be able to make triple of your capital within 3 months.
Employing capable and creative hands doesn’t stop you from getting basic training about footwear making. At least, to know what the business is all about. Not only that, it exposes you to some secrets about the nature of the business. Things you might not have known if you had started alone.
2. Business Location
This have to be put into serious consideration; this is where the future of the business lies. You don’t need to situate the business in a remote area where there’s not a single exposure. You need a buzzing environment with lots of traffic. Getting the right business location contribute to about eighty percent success of every business venture.
When getting a place, consider the following.
• Is the road to my establishment accessible?
• Is it closer to my target audience?
If you had answered NO to any of the above question, then it’s not a suitable site for your business.
3. Your Niche
This have to be defined too. In fact, getting this right will make targeting your potential customers more easy. So you want to be producing high design women, children or men’s footwear?
Whichever niche you want to go into, delve deep within and become a specialist in that field. Don’t make the mistake of being a Jack of all trade. Customers will always go for a specialist than a Jack of a trade when there’s a choice.
4. Raw Materials And Equivalents
If you have trained under a professional footwear maker, you will be conversant with the equipment and raw materials needed for each footwear production. Those equipment might even be among the gifts used as a thank you from your master.
Having been trained, you’ll definitely know what kind of materials needed according to your preference or target market. It could be leather, rubber or plastic footwear. Have in mind that most of the equipment are made for a specific shoe size.
As a small-scale starter, you sincerely don’t need heavy machines for production. You can use basic tools since it entails cutting of materials, gumming each cut part together and making the heels or smoothing the edges. For a professional footwear maker, it won’t take more than 30 minutes to produce a footwear.
This is something you have been trained to do. it won’t be such a hard task. When you’ve produce as much quantity as you want, you can then transfer to the warehouse or supply directly to the market.
This is the time to build your customer base by employing every marketing strategy in business. The first step in doing this is by branding your product. You can get a professional logo and have them printed in all your products and assets. There are reliable ways to promote your products which will give you a headstart.
You can consider running a TV, radio FM or newspaper classified adverts. Good thing is they are cheap to run. You can also decide to have an online presence by creating a facebook page. Most footwear business persons usually go to the middlemen and have them strike a deal. One thing is sure, there will always be something for you.
Starting a footwear business in Nigeria is not capital-intensive, neither would you be prompted into breaking a bank. Before you start this business, get a business plan.
Although this should be after your training. You don’t write or plan on something you know nothing about. If you get it right, you’ll be earning six figures monthly without sweating for it. It’s easier to grow as a small-scale to a large-scale footwear producer.. This will enrich you with all the experiences needed in the business.
That’s the much we can take on the topic “How To Start A Shoe & Bag Business In Nigeria 2019/2020 pdf”.
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