Steps to start up a hair extension/attachments distribution business in Nigeria
The demand for hair extension in the Nigerian markets is sky-rocketing every day. Therefore, the hair extension business is a viable and lucrative business in Nigeria. Most women today take extra measure to look good and are willing to spend even their last money to achie
ve this. One of the symbols of a woman’s beauty is her hair. To achieve good looks, women make their hair with all types of hair extension and they do it on average almost every week.
Become familiar with the industry
Before you engage in hair extension business, you need to understand and get familiar with these different types of hair extension that are in the market. Some people may consider selling only human hair depending on who their customers are, while others may prefer to sell all products of hair extension. It is advisable to sell different types of hair extension because people are different so are taste and likes. Being known for different kinds of brands makes you earn more satisfied customers who in turn will help promote your business by word of mouth.
Due to a variety of brands of hair extension in the market, you need to know their names, inches, and where they are made in. Because you will have different customers asking for a particular brand of hair. More so, a new product can surface in the market that your customer may not be aware of, you can tell your customers more about it. This will go along way to demonstrate to your customers how knowledgeable and up to date, you are in the business.
Run a thorough market survey for your business to determine the demand for your products, who your target customers are, and how to effectively reach them. Next, you want to find out costing and requirements for your own peculiar niche ( if any). Know the amount you have to fire up, and what the turnover would be. Additionally, discover where to purchase your products, the manufacturers in question, so as to get products at a sensible and moderate cost.
As a product distributor, you could consider injecting N2,000,000 to purchase distinctive sorts of hair attachment, that force quicker movement in the market. For example, it is on the saver side to invest in hair attachments like expression attachments, human hair, bond wig, and other related things to stock. You stand a chance of making up to 300% returns from your investment.
Add other hair products To your Stock
There are some other related products that are utilized to make hair. Such include; bands for weavon, needle, weavon stick, weavon oil, relaxers and a wide range of hair cream and hostile to dandruff for hair. This does draw in people as well as call for consideration of salon proprietors to patronize your business.
Get Goods Directly From Manufacturers
If you don’t have enough capital to import directly from China, you can consider obtaining from nearby makers. All things being equal, you can get your product at a sensible rate while being guaranteed of good quality. As a result, you will have the capacity to give your clients a sensible markdown on product purchases. You may likewise look around web based merchants on the web stores like Amazon, Alibaba and Aliexpress.
Be prepared to go to China or Indian so you can consult at a superior cost on mass purchases.
When you purchase in mass, you get great arrangements.
Import your products into the nation and do the vital clearing.
Have a warehouse
Find a shop or stockroom, deliberately found, where you exchange to discount wholesalers, retailers and end clients at a decent overall revenue.
You need a space where your goods can be kept free of dirt, pests, and dust. You should be familiar with how to stack cartons in your shop to maximize space and make for easy accessibility.
You need a truck
A good means of transportation ensures that your goods get to your customers as at when due. This is true because, you can not afford to wait around for your customers to come to you. It is advisable that you are poised to effectively distribute your products to your customers wherever they may be. This is your competitive edge, and will make you to stand out in the midst of tough competition —And there is.
Hire a responsible driver too. Even when you may not have the resources to purchase a vehicle outright, you could opt for renting one. It is inevitable; you will need a vehicle to get your goods from the ports once cleared. And also from other local manufacturers around.
Attract Your Customers
While reasonable price will help you gain more customers, you can make them loyal by giving incentives on products purchased. This can come as gifts on products bought depending on the quantity. Sometimes, you can run a sales promo. Your customers want to be convinced that there is a difference between you and other suppliers. Endeavor to stand out by treating them in such a way to show that they are kings.
Have it in mind that there are many competitors in this line of business. Make sure your price is very reasonable and competitive enough. You do not have to make a huge profit as a beginner, what you need first is to gain more customers. Providing them with the best quality at affordable rates will make you gain customers and keep them for life.
You can move around hair dressing salons where you are located and spread the word. Let them you will offer attractive discounts. Also maximize online marketing strategies. If you are selling your products online, adopt various online marketing methods, such as starting a blog the provides hair styling tips, interacting with prospects via social media, marketing your business strategically at online forums and communities, using paid advertising methods like Google Adwords as well as free advertising methods like free classified ads
If you need more information or would like to book a consulting session with us, you can call us on 08105636015 or 08076359735. Alternatively, you can send a mail to firstname.lastname@example.org
Serial Entrepreneur - International Business Planning Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2018 SME Business Trainer and Coaching Advisor at GIZ for SME Loop.
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.