The boxers business is one of those businesses you can start with less than N20, 000 in your account. If you’ve always thought of starting a small scale business, this is the right one for you. Here, money and idea is not your problem anymore. This article provides information on how to start and grow your boxer’s business. Here we go:
Boxers Business in Nigeria: How to Get Started
Carry out a market survey
The first step is to carry out a market survey. A market survey helps you to find out if there’s a market that is in need of your product and will demand it. Remember that if there are no consumers of your product, the business will not survive, let alone thrive. Not pulling through on this step can, therefore, be detrimental to your business
Some questions you should ask during your survey could include:
How lucrative is boxers business in Nigeria
How many men wear boxers every day?
Is the boxer target market a unisex one, selling to both men and women?
Find out if the already existing market and your competitors sell well. Get to the market and ask if underwear shops (boutiques and clothing outlets) sell well?
These are some important market survey questions. However, you must know that most medium earning to low earning men wear boxers. Also, few women put on boxers as they do so at home in order to relax. The answer to the last question depends on o your location.
Choose a market to buy your materials from
The popular markets you can get materials from are located in Lagos or Aba.
At the market, you can choose to buy either from the wholesalers who sell readymade boxers or from the material sellers. Buying the readymade boxers saves you time and energy but the quality of the readymade boxers you buy will determine the quantity that will be sold to you. When buying raw materials for the boxers, you will also get other materials such as Elastic bands, etc. You would then meet with a tailor who would make the boxers as you desire. This option might seem cheaper because of the profit margins but remember that you would need to pay your tailor, which is a new cost to put into consideration.
You will also need to buy packaging nylons and stickers. You can brand your business name and contact number on the boxers so as to make it easy for customers to get to you. Some people like to go for designer names; therefore you can get your logo on your package by sewing it on or printing it. This is another way to make your products popular. If your product is well packaged and affordable, people will like to buy it instead of some others that are expensive.
· Create an online presence for your product
In a digital world, your business will be at a disadvantage if you do not have an online presence, no matter how popular it is offline. Marketing your business online helps increase sales and drives the business. You can create an account or page on Facebook, Twitter or Instagram, and other social media platforms so customers can make orders from there. Make sure to also add your contact details in case your customers need to reach you personally for more information.
The cost of production of boxers
You can get already made boxers for as low as N300. All you need is to package it in 3s, and market them properly. You can ask friends on twitter to retweet your business or product. Usually, people sell a pack of boxers for 1500-2500. You can sell yours for 1200 and grow gradually.
· How to Start
When packaging, ensure you do it well and neatly. People go for products in attractive packages. Therefore, you need to know a thing or two about the packaging because this will enable you to sell better and gain customers. Aside from packaging, you also have to know about the best quality fabrics for sewing boxers. Ensure you get products that are of good quality. Find out the materials of boxers which men prefer and go for it.
Pieces of equipment needed
There are some materials you will need to get ready. This includes:
Nylon for packaging the product
Shop space: Although you can start the boxer’s business from your house. As you expand, you can decide to get a shop space so people can come and buy from you.
As said earlier, the boxers business is one you can start with just N20000. This would also mean that you put in the extra work for marketing. If you do not have the money to start with, you can also apply for loans from cooperative societies or banks. The boxers business is a one-man business that you can run on your own. As you expand, you will need some extra hands like the shop attendant or sales boy or girl. The business however does not require much staffing.
Sourcing for customers
When marketing, you can source for customers from banks, campuses, companies, corporations. Here, you can show them a complimentary card, catalog, and pictures of your goods. Sourcing for customers yourself helps the business to thrive better. Take your product to meet the customers. You don’t have to wait for them to come to your store(s).
Consider your competition
You must bear in mind that there already are people already selling your product. Therefore you have to do something better or different in order to stand out. These include good marketing, excellent customer relations, getting models or influencers to advertise your business online, etc. Anything to prove to customers that your product is worth it. You can also give out discounts on bulk purchases, promo prices, and other incentives to encourage customers to buy more and always come to you.
The bulk of work with the boxers business has to do with sourcing for quality materials and packaging it well.