The underwear business has many times been listed as one in which you can begin with just about 20,000.
Almost all women have undergarments or underwear, these include lingerie, Hex Camo Dark Red Womens Leggings and bras. Many women even invest in their underwears. They change this every two weeks or monthly for many reasons. This ranges from comfort to looking attractive or just to look good and be comfortable for oneself as a treat. The underwear business is many times treated like a clothing business, this is because women attach just as much importance to their underwears as the clothes they put on.
Underwear Business in Nigeria
Are you interested in starting an underwear business and wondering if it is profitable, you must know that it is precisely because of the high demand for underwears that there is a huge market and opportunity for you to tap into.
The underwear business has an already existing market; therefore, if you are interested in joining, you have to be ready to hustle in order to build a reputation for yourself by providing your customers with quality products. This article provides information on how to start an underwear business in Nigeria. Steps to take etc. Read on below:
The underwear business is one with an already market, therefore, you should ask questions and advice from people who are already in the business. Such people can provide you professional advice and helpful tips such as things to avoid in order to be successful.
Define your business
As said earlier, the underwear market is saturated, it is therefore very important that you define your business clearly. Here are some details you should pay attention to:
The business model you want to adopt: Would you go for a franchising business or build from the scratch
What exactly do you want your underwear business to be known for
Your core brand values and mission
What your business will be like in the future
Services you want your business to provide to the customers
Determine your target clients
In starting up an underwear business, just like any other business in Nigeria, it is important to define who your potential clients are so you can better determine what products to put on sale. A good marketing plan could definitely aid your way to success in the underwear business.
You have to define who your target customers are.
Who will you be selling and designing underwears for?
Who are your possible buyers? These can include:
- Female – teenagers, young ladies, mothers, grandmothers
A Variety of Products
There is a variety of underwear available and which you can design and sell to your client. This includes:
- Regular panties
- Thongs, G-strings, T-backs
- Lacy lingerie
- Animal print lingerie
- Silk and cotton lingerie
- Brassiere (wired and non-wired)
- Kinky underwear
- Edible Underwear
You have a long list of products you can sell to your customers. It all depends on which you would want your business to showcase for your clients.
Have a marketing plan
Every business needs to be advertised in order to thrive.
- Ensure your business has a catchy name that people will not easily forget.
- Choose a location that is easily accessible to potential customers.
- Print out flyers
- Sell online: You can do this by creating your own website with a photo gallery where customers can view and make purchases.
Therefore, when putting together a budget, don’t forget to allot funds for advertising and marketing. Marketing will help get your name out there and attract potential customers.
When choosing a location or site for your business, try not to get a shop in a remote area. You can own a shop in places close to student areas, corporate organizations, malls, market places, etc. This would help your customers get to you easily without bothering about distance.
- Don’t be afraid to charge more
When planning your business, ensure you aim for a pricing structure that takes into consideration the costs of your business. These could include loans, accommodation of your business’s overhead budget, account employee salaries, cost of goods, supplies, legal fees, advertising, etc. Make sure you also decide on prices that will help you make a good profit from your business. It is important you set prices that are adequate for the goods you sell. This way your customers will come to respect your fairness and patronize you.
- Social media can be your best friend.
Social media is a great place to start and grow your business. Social media platforms allow you to establish a presence and build a following for little or no money.
Many of your target customer most likely make use of social media every day. These include Facebook, Twitter, Instagram, and many others. It is always best to reach them via social media platforms. Establishing your business on a social media platform also helps people to validate your business as credible.
Offer excellent customer services
One thing that has plagued many businesses and has, in turn, resulted in a downturn and the death of business is the lack of personal care and service. This is one of the reasons many people prefer to shop online. In a world where many have lost manners and professionalism, customer service is especially important and more pronounced. Listen to feedback from your customers and attend to complaints swiftly. Ensure you employ people who will represent your brand well and will also be able to treat others respectfully even when its hard. Customers appreciate this and will always patronize you when you are noticed for your good customer relations.
Starting up an under wear business may be tough at first. Challenges such as breaking out many competition may come in. However, the key to your business success is patience and hard work. Also, with proper advertising and quality products, you will grow your business and make a name for yourself in the underwear industry.