There are over a million Nigerians that wear shoes and various footwears on their day to day activities. This footwear can range from various types, texture, and materiel to price – all depending on the wearer’s choice. This makes footwear business very lucrative. Knowing how to start a footwear business in Nigeria is not a difficult nor capital intensive. Everybody wears shoes. Selling shoes is a great way to make money, especially in Nigeria.
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How To Start A Footwear Business in Nigeria
1. Choose Your Market Niche
In the footwear business, one has to choose from making the footwears by himself/herself or buying directly from the local manufacturers. Also, are they going to be formal or informal shoes? For male, female or children? Selecting your niche before beginning manufacturing gives you a sense of focus and helps you identify your target market
2. Research and Business Plan
You will need to do some market research, this is so that you are able to identify your potential customers and target market. Write your business plan Take your business plan to banks and potential investors to gather enough funds to get your business started comfortably. You can also source for funds from family and friends.
3. Business name and Registration
A business name is that which your shoe business would be identified has or called. It should be that of when heard, portrays what you are into and those it’s directed to [target market]. Your business name should be simple, meaningful and easy to understand. You also have to register your business with the Corporate Affairs Commission.
4. Get a good location.
Your location is where your customers can easily reach you, It could be your home or a rented space. You should have known your target audience at this stage. In essence, you should have decided on the kind of people you want to satisfy with your product. Because they will determine where your product will be sited or displayed to be easily seen and purchased.
5. Hire A Professional
If you can’t make shoes, this means that you may need to find a shoe designer and work with him or her at the factory or wherever to design a line of shoes for your brand. Do bear in mind that the products you decide to churn out must have certain common features like; easy fit, trendy, and a high-fashion look, amongst others.
How well you market your business to determine how well you will sell. Marketing can come in two forms: the off-line marketing strategy this involves taking your goods to offices or public places to make a sale and the online marketing strategy where one advertise his or her business online through various social media channels, you just have to choose and then start marketing.