It is very important to learn and know the latest fashion trends so as to attract potential customers. Fashion Fix Boutique is a clothing shop provides quality female, male and kiddies fashion wears and accessories. Now based on the feasibility research you conducted and the preliminary sketch of your boutique you did. Because they are stealing from a business and not a person. Most people will argue that in Nigeria, fashion boutique business is done by mostly ladies than men. Print posters and fliers and distribute them to people. Boutique business is lucrative in Lagos. You can then proceed to find a space, shop or mall for your boutique. : Many teens dream of money. If you plan to specialize on the same type of goods, look for catalogs that carry the items you need to continually order. You may have to wait a few months before the money rolls in. And don’t forget to input a marketing plan and your financial projections plus risk analysis. If anyone tells you that starting a bakery is a profitable business idea in Nigeria, such person doesn`t understand. However, you might wonder how to start a business when you’re young, as in middle school. Starting a clothing shop boutique business is an awesome business idea because of the power of the fashion industry. Where you will source your products from and who your suppliers will be? 15 long-sleeved shirts at the cost of N1, 000 = N15, 000. A store with too many unsold inventory must sell items on clearance, sometimes at a loss, or give them away to create room for new ones. A unique fashion boutique name according to experts can help draw potential customers to your fashion business. Running a fashion business exposes you. If you start your boutique is a very busy location, you can make as much as N20,000 profit every day. 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Nairaland Forum / Nairaland / General / Business / Selling Clothes In Nigeria – Boutique Business, Online Clothes Store (9634 Views) Pics Of An Ogun State Based Babalawo Who Advertises His Business Online Go Viral / Boutique Business With Startup Capital of 400,000 / How To Start Selling Clothes And Shoes Like Boutiques (1) But if you plan to go versatile, make consignment offers to local designers from which you can get a cut of each sale. It is very complicating to predict the general demand for shoes and clothes. Use this time to study your business and commit to its promot i on till it comes to fruiting. The answer is “YES”. Understand the business and the latest trends in Nigerian Fashion Industry. Carrying out a feasibility study will help you draw up a good fashion boutique business plan. There are basically 3 types of boutiques in terms of the way they stock goods – consignment boutique, regular buy and sell retail boutique and the franchisee boutique . If you lack people skills, your fashion business will force you to develop these skills. You will learn how to deal with people. 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. At this juncture, your fashion boutique is properly set and the next step is to market it. 3. The business is also an exciting one because it has to do with creativity. It would not be good for your fashion business if you do not keep up with the latest style in different fashion design as you may lose sales and customers. To meet a net profit of 55% on monthly sales; To generate customer satisfaction so that at least 60% of our customer base is repeated sales. You need to … The best option is to mark the items down so as to sell them faster, or accept it as a total loss. Running a boutique business in Nigeria is a lucrative business if you have it set up the right way. Now, Nigeria’s top ten (10) most profitable Small Scale Businesses in Nigeria. Focus on a few simple strategies to help you get the word out there about your company. Frankly, boutique business is one of the lucrative facets of fashion business and dozens of Nigerians are making waves with their boutiques. Most of the wholesalers and manufacturers do not accept returns. You can as well create a website for your fashion boutique where you can market your business on line. Being your own boss present you the freedom to do things your way and implement your own plans and ideas. The Boutique business is a money-driven business. Clothing retailers depend on the Christmas shopping period to break or make their year. Having a mindset that brings […], 14 Tips to Make Money as a Teenager in 2021 in Nigeria, Make Money as a Teenager : Starting a small business is an immense undertaking that requires courage, determination, invention, and motivation. If you will be bringing a team on board, then you will need to write a brief biography about them in your business plan. This factor is very important, but it depends on the amount of money or capital you are injecting into your business. But every time you try an idea it doesn’t come out right or just sounds plain silly? As such, you need money to set up the business in the first place. This implies that billions of dollars circulate within the industry globally, on an annual basis. Objective of our Clothing Retail Business Plan in Nigeria. Having a job and earning money is one way to have wealth. I normally advise people to go to open areas for such business because people will see the wears you display outside. Owning a fashion boutique is the perfect way to overcome your fear of addressing crowds. With the impressive rate at which Nigerians demand fashionable items and accessories, we can safely assert that … Choose a position and concentrate on it, draw out fashion boutique business plan in other to survive in the business. Nigerian Infopedia is Nigeria's authoritative top quality information website that provides resourceful information about her culture, people and things associated with Nigerians. It is an especially attractive prospect for the ladies’. Except you’re one of the rich kids in the block, raising capitalis never an easy task and often requires a lot of determination and patience. Boutiques, unlike the regular shops commonly occupy small spaces in enclosed malls or in strip plazas and deal exclusively on wears and accessories. You can then proceed to write a business plan. This is because women always feel a need for good clothing, shoes, and accessories. Yet there is another level of abundant living that involves attracting the idea of wealth and prosperity. Now this constantly changing trend can be both an advantage and disadvantage. You don’t just jump into the boutique industry like that. Easter Day, Mother’s Day and Fourth of July with sales and specials increases revenue in those months. The fashion industry is a dynamic one with various trends. Opening a shoe and clothing store is an exciting event for the owner of the shop who has the sense and experience of fashion. As it is with every other business, it is very important that you prepare a business plan for your fashion boutique business. Also choose a location where customers can locate you easily. Starting a fashion boutique business is an interesting venture to do as well as a lucrative and profitable business to do. In fact, personal development is what you stand to gain as a boutique business owner; especially in the areas of negotiation, persuasion, sales, marketing, accounting, etc. Employees are likely to steal from the cash register. Since people like to look good, it is only normal that they would love to buy good quality and stylish clothes. A good business location to start your fashion boutique business is an important factor that you should put into consideration. A consignment boutique will stock goods manufactured by other designers or manufacturers and will take a percentage as their share when the item is sold. It is as well difficult to return them for a credit to the distributors. Note that the space may be on a rent or lease basis, it shouldn’t be too expensive and it should be at a wonderful location near other establishments your target customers often visit. Obeezi. Before embarking on a search for a rental space for your boutique. Children, men and women’s apparel increased by 4 percent and 6 percent respectively. There is no successful business that does not require you dealing with people. If you are the shy type, this boutique business will force you to break out of your shell because there is no hiding place for you as a fashion entrepreneur. The type of cloth, whether it is for female or male, old or young or even for children should be put into consideration. This is because at various point in time in your business, you will be required to address groups of people; whether you feel comfortable or not. The business plan will outline the aim, short and long term goals e.t.c on how to run the business. One of the greatest mistakes you will make as an aspiring fashion entrepreneur is to start a boutique based on assumptions. Such as hair salons, barber’s shop, beauty shops, etc. Apart from the normal creating of flyers, pamphlets and other forms of advertisements, a good way to advertise your fashion business is online. And they always wonder what the best way is; to make your own business of course! Who are your competitors and what are the risk involved with running a fashion business? […], 38 Tips to Open Casual/Canvas Shoes Boutique in Nigeria, Casual/Canvas Shoes Boutique: Ever been trying or thinking of starting your own little fashion store or boutique. You should also make sure you obtain the necessary licenses and permits from both the state and local government. How To Start A Cosmetics Retail Boutique Business In Nigeria. If anyone tells you that starting a poultry business in Nigeria is the hottest business in town, he is dumb. However, there is a long term plan by the government to prohibit the textile importation, so as to encourage local content production. Save my name, email, and website in this browser for the next time I comment. Buy the necessary equipment you need to operate. If you start a fashion boutique, the only person you have to answer to is yourself. You should also strive to attend workshops, trade-shows and fashion Expos. 12 James Fashion Store. Read on: 23 Ways to Build your Personal Business Brand in Nigeria 1. Please note that almost all the data from your feasibility report will be included in the business plan. Will your boutique be well lightened by natural luminous sources such as sunlight or otherwise? The fashion industry is a rapidly changing one. In order to reduce pilferage, think of using computer systems because they do help in reducing pilferage. These are some of the factors you will need to take into consideration. You should also open a business account with a bank that supports small businesses. This is because there are so many many areas you can specialized in. There are lots of areas to specialize when doing fashion boutique business. Shop, Store. Understand the business and the latest trends in Nigerian Fashion Industry. Boutique Business in Nigeria is a very lucrative business and requires little capital and dedication. Read also: 16 Tips to Start Domestic Cleaning Business in Nigeria 1. 19 Creative ideas on Boutique Business in Nigeria, 12 Steps to Start Boutique Business in Nigeria, Read on:12 Top Business Setting Plan in Nigeria, See also:Top 50 Food Related Business in Nigeria. That is why knowledge is fundamental to running a fashion boutique. Now to choose a good fashion boutique name, you can try out these fashion business names ideas below: You can then proceed to register or incorporate your business. The disadvantage is that you may be stuck with merchandise whose trend is phased out. Boutique Business-: Despite the hardship that may loom in Nigeria, people just love to look good. You will also need to determine how much it will cost to open a fashion boutique. This amount of money is worth taking a cut from, trust me. Man-made (regenerated & synthetic), Elastic, tapes and ribbons, Laces and lace materials. After finding a good location, you need to choose a name for your boutique. Running a fashion boutique is one of the most exciting possibilities for those of you who are seeking the ideal business to start up. Benefits of boutique business in Nigeria You can sell male and female clothes and it will increase the level of your sales. Then read on. While this might sound true, men that do fashion business in Nigeria are increasing on a daily business. Below are the challenges that you are likely to encounter in course of opening and starting a fashion boutique or store: 15. With a magazine, a book club, beauty products, and even her own TV […], 49 Ways to Open Business in University of Benin, Business in University of Benin: Many teens dream of money . What is in vogue today might be outdated tomorrow. Decide on the type of boutique you want to start. Prepare your Fashion Boutique Business Plan. You need to have a simple sketch on paper on how your boutique will look like and the interior decoration you will use to spice up your showroom. However, the nature of the business doesn’t exclude the gentlemen from embarking on this industry either. People love to identify with brands, so if you have a unique name for your fashion business, whenever people see it, will want to visit your boutique. Understand the business and the latest trends in Nigerian Fashion Industry Things to consider in starting a successful Boutique Business in Nigeria. July 16, 2020 Passionguy BUSINESS, MAKE MONEY 219 . The fashion business is the business that you love In Nigeria, the highest concentration of Fashion Designers can be found in Lagos, Abuja and Port Harcourt. Do you need a Creative ideas on Boutique Business in Nigeria? You can decide to sell female wears and accessories for women only or you can decide to concentrate on men alone. If you go to markets where people sell clothes in Lagos for instance, you will see how buyers rush the sellers of these wares. But simply don’t know where to begin when it comes to starting their own business. 19 Creative ideas on Boutique Business in Nigeria: Have you ever thought of starting your own fashion business but do not actually know how and where to start? Write a Review. Do you want to know what it takes to setup a profitable fashion boutique? With the impressive rate at which Nigerians demand fashionable items and accessories, we can safely assert that boutique business will continually thrive in the country. Boutique Business Plan in Nigeria – The following report and recommendation relate to the proposal of Ijekpoms authentic Boutique to establish a boutique at Main Market, Enugu State. To provide quality product at fair and lowest possible prices with exemplary services. This is an advantage to an entrepreneur who understands the fashion needs and the trend in vogue. Selling clothes is a business that many new entrepreneurs choose to start with because of the great demand for clothes, not only in Nigeria but in other countries as well. Chief Editor 0 Comments business of fashion in nigeria, fashion boutique business in nigeria, fashion business in nigeria, starting a fashion business in nigeria You will definitely agree with me that the fashion industry is one of the fastest growing industries right now in the whole world. What You Need To Start Up Boutique Business In Nigeria. If you are the shy type, this boutique business will force you to break out of your shell because there is no hiding place for you as a fashion entrepreneur. 1. Actually, you can start up this business with just N50, 000 and have an assortment of clothes. You can skip the lengthy business plan and stick with a simpler format or template. Yea, there are certain equipment you need to operate a fashion boutique efficiently and profitably. Complete Guide — 15 Steps To Take In Starting A Boutique Business In Nigeria. 2. One of the most difficult tasks, for any entrepreneur that wants to start up their very own small business, is to raise capital for it. Approximately 58 percent of women who normally shop for apparel online are between the ages of 25 and 45. Advertising your products on magazines, brochure etc. Well, the reason is obvious. 21 Envogue Exclusive Shop 7/8 God First Shopping Mall, Jakande Estate Gate Isolo, Lagos Nigeria However, if you don’t intend raising capital for your fashion boutique. You can therefore, cash in on this and start a boutique business. Decide on the type of cloth you want to sell and the audience you are targeting. ... Secret in Making Millions In A Boutique Business 2020 . Igbo Clifford. Boutique Business in Nigeria: How to Get Started A boutique business can be quite profitable especially if you work with ladies’ wear. See instructions. Are you going to locate your boutique in an open market or in a specialized location? You can start boutique business with any level of capital starting from 20,000 Naira. See also: 22 Tips to Sell Leather Products in Nigeria 1. All these should also be included in your fashion boutique business plan. List of Creative ways to Market your Fashion Boutique, Read also: 12 Steps to Start Boutique Business in Nigeria. However, you might wonder how to start a business when you’re young, as in middle school. 3. In your business plan, you will need to state your goals, objectives, visions and mission statement. It is imperial to now that there is a high demand for cloths from people as they always need to wear cloths. Required fields are marked *. The downside of it is that the store must be fully stocked with inventories right from the opening stage and it requires and costs a huge amount of money. Capital will depend on the kind of start up you arecaiming at. You can even start with tokumbo undies, handkerchief, etc. The fashion sector which will perpetually thrive in any economy as because individuals in Nigeria have a basic want for fashion items. Alara. The online store was launched on … Promote Your […], 10 Best Architects/Engineers Online Learning Platform in Nigeria, Architects/Engineers Online Learning Platform: Due to the pandemic this year, online learning has become the most popular and practical method of learning. There are a lot of medium and small scale enterprises that are making money serving a smaller niche. Will you locate your business at a busy intersection or in a quiet area such as a shopping mall? how much does it cost to start a boutique, how to start a boutique from home in Nigeria, Top 12 Reasons for starting Coconut Business in Nigeria. You can decide on the area of boutique business you want to start. The customer may bring in 5 or 6 items to the dressing room, put one item under their clothing and pay for another. 0813 753 7264, 0809 460 9951. A nicer term for theft by customers and employees is addressed as shrinkage. After compiling your feasibility report and you believe the metrics of your research are favorable. The fashion industry is a … If you are thinking that it’s just only large corporations that make big profits, you are wrong. Ladies loves good clothing, shoes and accessories, it is not an exaggeration to say that it is a business you will fined very interesting. 36 Tips to Open Yarn, Fabric & Accessories store in Nigeria, Yarn/Fabric & Accessories: The Yarn, Fabric & Accessories Trade Show will provide a common platform for both buyers and exhibitors to meet at a common platform. Customers sometimes feel that shoplifting is not really hurting anyone. This is a distinct disadvantage if shoppers do not have enough confidence in the economy to purchase gifts as they usually do when the economic condition is good and favorable. With some time, research and a little help from others. Women’s and kid’s wear, Fine yarn-dyed […], 11 Tips to Promote Your Dry Cleaning Business in Nigeria, Promote Your Dry Cleaning Business : If you have your own business. Casual/Canvas Shoes […]. Elle's Boutique is a trendy boutique in Lekki that offers sales of wrist watches, handbags, male and female fashion accessories. 17. The rental business is literally about having … Read Also: Biography Of Agbani Darego, Age, Early Life, Net Worth This will enable meet new people and learn new things. Looking good, they say, is good business after all. Is it exclusively male or only female clothing’s or unisex? To get started, below is a list of institutes where you can hone your fashion designing skills: List of the best fashion business schools in Nigeria. And it features exhibits of Natural (Cotton, wool, silk & flax/ramie). […], 8 Tips to Open Business in Akwa Ibom State University, Business in Akwa Ibom State University: Many teens dream of money. This article will serve as a guide on how to start a fashion boutique in Nigeria, why you need start the business, best location to start a fashion boutique so that you can make the necessary profit accrued to the business. N15, 000 and have an assortment of clothes good clothing, shoes, and website in this browser the. Their friends clothing or all types the state and local government Leather products in Nigeria.. Gentlemen from embarking on boutique business in nigeria and start a boutique business plan who the. Shopping websites like Konga.com and Jumia.com.ng business is done by mostly ladies than men are wrong and... Let me share some statistics with you lessons focusing on this and start a boutique based on the of! 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