This article seeks to elaborate on the steps to take when venturing into the jersey business in Nigeria. So, if you are interested in the business, read this article to the end as we discuss all you need to know about starting a jersey business in Nigeria. Before we proceed, we assume that you’ve already gotten your capital ready. Now, let’s dive in.
How to start jersey business in Nigeria will be discussed below:
Carry Out Market Research
The first step to starting a jersey business is to conduct market research about the viability of the business. Although there are several elements involved in conducting market research for this type of business, there are certain elements you are expected to investigate during the market survey for your jersey business.
One of the important elements expected to be part of your market survey for this business is defining your target audience. In this regard, your target audience might include potential customers, retailers, or distributors.
In addition, your market research should include market analysis, which involves identifying market size, growth potential, and any trends that may impact the jersey industry.
Other elements recommended for you to cover during this stage include gathering information on customer preferences and needs, investigating the various distribution channels available for your jerseys, and analyzing pricing strategies in the jersey market.
Also, identifying and analyzing your competitors and developing an action plan based on your recommendations are additional elements to consider whilst carrying out market research.
The research methods you can use to collect data during your market survey exercise include interviews, questionnaires, online research, and industry reports.
Select a Strategic Location for Your Jersey Business
The next stage in starting a jersey business is selecting a strategic physical location to widen your reach to your potential customers. Also, having an online store alongside your physical store can further increase your customer base. Some people love shopping in person, while others prefer shopping online. So, having both options allows you to cater to different customer preferences.
The physical store that you get for your jersey business should possess certain qualities including easy to both foot and driving traffic, adequate parking, and space for the jerseys. Having a physical store for your jersey business can enhance your local presence and brand recognition.
While it’s advisable to have both physical and online stores for your jersey business, you can settle for an online store when you do not have enough resources to rent and operate a physical shop but make sure you have storage space for your merchandise. However, you should make plans for establishing a physical store as soon as the business picks up for a well-rounded and flexible strategy for your jersey business.
Allocate Budget Wisely
At this stage, allocate your available funds to all you need to start up your jersey business. You should have gotten the costs of everything you need during your market research stage. So, allocate your budget to rent (if you want a physical store), jersey stock, utility costs, business registration, and so on.
Depending on your budget, you may want to include all you need or settle for the most important items, leaving additional costs for later. We advise that you adhere to the budget you’ve created to avoid falling into deficit.
If you are planning to start your jersey business in a big way, you would need to hire valuable employees who have sales experience in the sporting goods industry.
However, you may not need to employ a staff if you are starting small and do not have sufficient funds to get an extra hand.
You may also want to consider getting volunteers to work with you as a startup jersey business owner. However, plan to offer your volunteers reasonable incentives and benefits to encourage them.
Purchase the Jersey Stock in Bulk
At this point, you should have already gotten a physical store or a storage space (if you intend to begin with a virtual store). The next step is to buy the jersey stock that you want to resell to customers in bulk from a supplier.
You should know that there are different quality jerseys. There are quality jerseys that are usually produced in Europe and there are replicas produced in China and more cheaper. The preference of your target audience will determine the quality of jerseys you stock up.
Now that we’ve established the different qualities of jerseys, let’s consider the different avenues where you can source your merchandise.
The first option is to import the merchandise from overseas. If you want superior-quality jerseys, focus on getting your stock from Europe, but if you want to deal in replicas, China is the way to go. Use trade magazines and the internet to find companies that ship jersey products to Nigeria, and follow up from there.
The second option is to source your stock from wholesale distributors around you. These wholesale distributors in the country already import football kits in bulk, so as a startup, getting your initial stock from distributors will be your best bet. After six months to a year of gaining experience in the jersey business, you can go ahead and get your stock from manufacturers directly, but ensure to check the policies and offers of various manufacturers to pick the best bet.
Promote Your Jersey Business
To ensure that you stay ahead of the competition, invest in promoting your business to reach a wider audience and retain existing customers.
You can promote your jersey business using either standalone marketing strategies or a combination of several strategies.
Below are some marketing strategies you can employ to promote your jersey business:
- Get a website for your jersey business
- Utilize social media advertisement
- Put up your business on online marketing platforms like Jiji, Konga, and Jumia
- Offer discounts on multiple purchases
- Offer self-branding services
- Place adverts on radio and television shows, particularly on sport-related shows
- Sponsor a local team