Do you wish to start a handbag enterprise in Nigeria? If yes is your answer, certainly, this post is for you. In this post, you’ll learn all you need to start a handbag enterprise here in Nigeria.
Let’s get started.
A handbag is a valuable item that is commonly used in Nigeria and beyond. With your portable handbag, you can conveniently hold your items along with you. It could be money, accessories, or anything.
Most women see handbags as part of their fashion. They ensure that their handbag corresponds to their outfits. But that’s not the case when it comes to men.
Buying And Selling Handbags In Nigeria
When you start a new enterprise from scratch, the first thing you do is make research on the intended enterprise. As part of your research, you should be able to identify the type of handbag you will be selling.
Since handbags today have gone beyond just a mare bag. Whether your handbag is to fit men, women, children, etc. whichever one you chose to be commodious for you, then you go for it.
After sorting out the type of handbag you want, you instantly move into finding more about the handbag. Determine if this is a viable enterprise or not.
Also, know whether there is strong demand for that type of handbag that you are about to sell. The answer you can come up with will help you make the right decision!
In addition, while doing your research, find a cheaper place to obtain your stocks. That way, you can make a healthy profit when you sell them.
Set up a Business Strategy
That’s the next thing you do when starting a business. Your business plan is your optimal guide to a successful handbag enterprise. That’s because it will be like a roadmap for you.
The business plan should contain the various steps you will follow for your handbag enterprise to work. Plus how much money are you prepared to put into the handbag enterprise.
We have other people in the handbag industry in Nigeria. Hence, there is a great deal of competition in the business.
So your enterprise strategy should be different when it comes to the type of handbags, the marketing strategy, and so on. But do your planning in such a way that your handbag enterprise will stand out from others.
The Brand of your Handbag Matters
In Nigeria, there are two brands of handbags that are being patronized. There are local handbags and handbags made in other countries. The locally-made handbags are cheaper than the imported ones.
So, before you embarked on the handbag business in Nigeria, you should have that in mind. That’s because there are Nigerians who patronize the local handbags.
And there are some Nigerians who prefer foreign handbags.
Legalize Your Handbag Business
Making your business legal simply means registering your handbag business.
In Nigeria, you can register your enterprise with the Cooperative Affairs Commission (CAC). Having a registered company will give you some legal protection, especially if you plan on running the business for a long time.
In the case of registering your business, you need to get a brand name. Selecting a sweet brand name for your handbag enterprise can automatically attract some shoppers.
These buyers will have confidence in your merchandise because of the brand name.
Get a Nice Selling Spot
The area where your handbag business is located is very important. This location will determine if your handbag enterprise will prosper or not.
The busiest areas seem to be the best place to sell handbags in Nigeria.
Where many people come in and out for different activities. In these places, you tend to get many people that will be interested in buying from you.
You can likewise open up your handbag business in a less busy environment and yet make a profit. But it’s just that, your handbag enterprise will not be well exposed compared to a busy area.
That’s why we advise you to look for a marketable location for your handbag enterprise.
Aside from getting a physical setting to sell your handbags, the internet is another selling platform. Where you can open an online shop, and conduct online sales.
This marketing strategy is somewhat simpler and less costly to implement. Moreover, Nigerians today prefer to sit down in their comfort zones and order merchandise online.
Advertise and Sell
After making all the necessary arrangements for your handbag enterprise, you must publicize your products. Purchasers will not begin to be condescending until you are known for what you sell.
You can make ads through social media platforms such as Facebook, Twitter, Instagram, and so on. The media house is another place where you can do publicity for your handbags.
If you’re buoyant enough to afford a billboard, then it’s another way you can advertise your handbag. But it is not economically wise to opt for this type of advertising at the beginning of a new enterprise.
You can do it later when your business is growing. This way, you can cut back on your spending.
There are several ways you can sell handbags in Nigeria. You can sell handbags at your location, that’s your shop. And you can also sell online, using your online store as we’ve already mentioned.
However, if you do not have an online store, you can use the ones available from other companies.
Such as Jiji, Konga, Jumia, and so forth.
Making deliveries is an alternative way of making sales. From the ads you make on social media, interested buyers can call you to place orders.
Other buyers can also reach you through your online store in case you have any, to place their orders.
So basically, these are the available ways that you can make sales and profit in the handbag trade in Nigeria.
This is where we will wrap up our discussion. But you need to know that the handbag business is actually a lucrative business you can venture into in Nigeria.
By following all the steps listed above, you can be sure to launch a profitable handbag business in Nigeria.