Are you thinking of starting a boutique business in Nigeria? This post provides you with guidelines on how to build a successful boutique business. Read on below:
A boutique business is a great idea. This is because the fashion industry is always in vogue and its products are always in demand. There is a basic need for clothing. In addition to this, everyone loves to look good; there is always a new fashion statement or style in vogue; new models and designs of clothing and accessories.
Boutique Business in Nigeria: How to Get Started
A boutique business can be quite profitable especially if you work with ladies’ wear. This is because women always feel a need for good clothing, shoes, and accessories. The business is also an exciting one because it has to do with creativity. You will enjoy it if you are particularly interested in fashion.
Deciding on what type of boutique to open
There are different types of boutiques, all depending on the product that is sold.
You have to first decide on what kind of boutique you want to open. This decision depends on your location and study of the market for the product. It also depends on your starting capital. You can start with a local boutique that sells local designers and China wears. If you have enough money you can start by dealing with top designers and labels. You can navigate to this web-site for more about Quality Control & Quality Assurance Labels. However, if your plan is to start a business with internationally known designers, you would require millions to start your business boutique.
Although many believe female fashion items sell faster because women love fashion more than men. You can decide to try out selling both feminine and masculine items. This would be a uni-sex boutique.
Select a good location
Ensure you also select the best place to locate your boutique. The location of your boutique also helps drive sales. If you have enough start up capital, you can locate your boutique in the expensive parts of cities.
The different markets you can concentrate on include women fashion, men fashion, children wear. You can even open a boutique while launching your own clothing design.
Register your business
After carrying out your research and sourcing for funds, the next thing is to register your business at the Corporate Affairs Commission. This is what will help you get legal status for your business.
Look for reliable providers
In this business, it is important you find reliable suppliers who will not cheat you in terms of quality, price and time delivery.
Evaluate the Competition
It is important you find out about those already in the business. This would help you to know what fashion product is best to sell. Do a feasibility study about those who run the same business as you in your area. You could find out what their price ranges are and how buoyant their market is. This will help you prepare your business plan and also have an effective marketing strategy.
Have a good business plan
Location is very important in this business; all you need is to get a very good location with less traffic congestion. A shop along the road will probably be better to allow for easy access to your customers. You could also look for a place with a good parking space. Before you decide on the location, make sure you put into consideration how many boutiques are in that area and how well they are doing.
Have a good business strategy
Having a good business plan is very important in starting any business venture. This plan would involve the cost of location, business supplies, costs of starting up, staff and marketing, etc. You must not leave things to chance. You have to sit down and take time out and map out a definite business strategy.
The next important point of your business plan is marketing. Good marketing and advertisement are vital to your success. The aim is for people to know about your boutique and the products you sell.
But you do not only want to inform them, but you also want to attract them so they become loyal customers. You can do this with the help of discounts, complimentary cards, and customer-oriented programs. A big opening event can also be an effective marketing strategy. This would attract customers and also introduce your boutique.
It is important you find a way to notify your customers so they know when new products have arrived. This would help build a customer base and customers will also see you as consistent.
Other factors that contribute to the success of a boutique business include:
The name of your boutique: The name of a business or brand is an essential point in any type of business and most especially in the fashion industry.
Good customer service: Many boutique businesses have run down because they lack good customer service. With good customer service, your customers will always return and hence drive sales.
Good quality of products: Providing your customers with good quality sets the image for your business and will go a long way in your brand.
Supply your customers with recent designs and the most fashionable clothes
Enhance the assortment of your shop with luxurious accessories.
Benefits of boutique business in Nigeria
- The boutique business is not seasonal
A boutique always works at any time of the year. This is because people wear clothes in all seasons and always want to look good. However, there are some seasons when you will record increased sales. This includes festive seasons.
- Products are imperishable
In the fashion business, you are dealing with non-perishable clothes and accessories. You do not need to worry about your products losing its quality.
Where to import/ buy high-quality clothes for your boutique business in Nigeria?
You can import cloth items from China through online stores that have been tested by many others.
Ensure the store is reliable, sells highly trendy fashionable items and ships to Nigeria.
Note that the boutique business is such that you will only enjoy if you like the fashion industry. This will help you navigate easily through the challenges of running a boutique business.