Setting up a boutique business in Nigeria is a welcome idea any day but most persons run away from the idea because of the financial implications. The business idea I am about to share with you on these pages was used by my younger sister during her NYSC days in Taraba State to net more than N180, 000 profit every single month.
However, the boutique business am about to share with you doesn’t involve opening a shop. It involves moving around with your wears and selling them on the go. I call it mobile boutique business.
Mobile Boutique Business In Nigeria
What is a mobile boutique? It is the selling of wears and materials to clients in offices or in their homes and making huge profit from it. But why are people running away from this business? The reason is simple. The clients often end up not paying for their purchases made.
Don’t let that singular reason scare you from investing in this business. It’s one sure one of eliminating lack from your life forever if you do it right. Presently, I will show you how you can do this boutique business in Nigeria without fear of customers not paying for their purchases and make cool cash from it annually. Just stay tuned.
What You Need To Start Up Boutique Business In Nigeria
Actually, you can start up this business with just N50, 000 and have an assortment of clothes. There are person that have started with far less but for the sake of variety in your stocks, N50, 000 would do just well.
- 15 long-sleeved shirts at the cost of N1, 000 = N15, 000
- 10 boxers / shorts at the cost of N300 = N3, 000
- 10 Tee – shirts at the cost of N700 = N7, 000
- 2 suits at the cost of N8, 000 = N16, 000
- 4 short- sleeved shirts at the cost of N1, 000 = N4, 000
- Other expenses = N5, 000
Total cost and expenses will be N50, 000
Expected Profit From This Business
- 15 long-sleeved shirts sold at N1, 500 = N22, 500
- 10 boxers sold at N500 = N5, 000
- 10 Tee-shirts sold at N1200 = N12, 000
- 2 suits sold at N15, 000 = N30, 000
- 4 short-sleeved shirts sold at N1, 500 = N6, 000
Total selling price will be = N75, 000
Expected Profit from the business will be Selling Price – Total Cost / Expenses
= N75, 000 – N50, 000 = N25, 000
When you repeat this process every single week, your expected profit for the month should be N25, 000 × 4 weeks = N100, 000
Expected Profit for 1 year should be N100, 000 × 12 months = N1, 200, 000
Actually, the profit made from this venture depends a lot on your input into the business. If you start with more than N50, 000, then you should expect better profits and less cost on transportation.
Tips To Excelling In Boutique Business In Nigeria
There are certain things you should know and do to make profits from boutique business in Nigeria.
- In the first place, it is always good business to deal with the opposite sex. If you are a woman then deal only on men’s clothes. Also if you happen to be a man deal only on ladies clothing. This will ensure prompt or immediately payment and of course a lot more attention from the opposite sex. When you are dealing with the opposite sex in a mobile boutique venture, you stand the chance of making more sales than when dealing with the same sex.
- Never make the mistake of sleeping with any of your customers. Why, you may ask? Instead of the notion of making more sales by sleeping with a customer, it will backfire if your other customers get to know especially when you have not slept with them. Be polite and at the same time elusive to advances. Never ever sleep with your customers. It’s not good for business.
- Never sell on credit no matter what. It will kill your business. If you do decide to accept part payment, always make sure that you collect the cost of purchases at the least if it so happens that the full payment cannot be made at the point of purchase. Making credit sales will kill your business. Never ever make that mistake.
- You would need a place to make purchase at a reasonably cheap cost. There are places where you could buy cheap and have the stocks sent down to you even if you are not residing in that town or city. For instance, you can buy from Onitsha main market. You need only travel there once, make arrange with one of the dealers and anything you need will always be sent down to you as long as you have made payments into the account given. Another good place to make purchase is Kaduna or Kano. If you target online stores, then dhgate and aliexpress would be a good place. I use this online marketplaces myself.
- You would need standby customers ready to make purchases. This is no big deal. Bankers, civil servants and everyone in your neighborhood are potential customers. You can walk into any company and showcase your wares to them.
- You need a complimentary card. This will show the seriousness and promote your image as well.
Well. You have seen it all. This business is a good one and the market is always there. All you need do is adhere to the tips and advice above and all will be well with you.
I wish you success.