How To Start A Boutique Business In Nigeria
The boutique business is one of the most lucrative businesses to start in Nigeria. Why is this? It’s because clothes are essential and, secondly, it’s something that fades and once it does, it’s replaced.
Though you may believe the market is already over-saturated, it is not. I agree that many people are doing business, but that shouldn’t stop you if it’s a business you cherish so much.
In fact, it’s not about how many people are in the line, it’s about how you run it, the type of wear you sell, how you sell it, and the authenticity of your wear.
The business isn’t just about clothes alone: shoes, jewelry, wristwatches, fashion glasses, wristbands, socks, and so on.
Nigeria as a country is growing at a fast rate in terms of fashion. Gone are the days when people opt for already used clothes (Okirika) or “bend down select”, as some people call it. People have become so concerned about what they wear and how they look.
Many youths will rather spend their last card to look good than eat thrice a day. I can comfortably say that fashion makes youths “go gaga.”
It has now become a competition of who wears the best and who’s more fashionable.
This is to your own advantage if you wish to start a boutique business.
As I reiterated in the previous paragraph, the boutique or clothes-selling business is not saturated and, in fact, it can never be.
Even in big markets like Ariaria and Alaba, people selling the same thing are always in the same line of stores. No one stops each other from selling his or hers.
It’s a “you sell your own, I sell my own” thing. Plus, clothes are a need for every human, so you’ve got nothing to worry about.
You’re probably scared because you’ve seen others fail in the business.
Well, it all depends on how you run your boutique business, what strategies you use, and the quality of the merchandise you sell.
Nonetheless, we have got you all you need to know about how to start and run a boutique business successfully in Nigeria.
Here are some of the things you need to do to get started.
How To Start A Boutique Business In Nigeria -(Step By Step Guide)
This contains step-by-step guides you need to follow in order to start your own boutique business without much hassle.
1. Learn The Business
In every business you want to start in Nigeria, this should actually be the first thing you do. Rushing into any business without having good knowledge of all it entails is bad.
The problem is that once some people see that someone is making progress in a business, they feel they can also start and profit from it.
Once they do, most such businesses end up crumbling or going bankrupt.
As someone who desires to make profits in the boutique business, you should try and learn the parts and parts of the business.
Don’t just look at it as an easy thing you can just start up. Learn from people who are already in the line or read many posts like this if you are unable to get a mentor.
Learning the business entails studying everything related to it, from how to best manage it to the types of clothes people are interested in, the latest fashion trends, the latest jewelry, the types of wristwatches to sell, where to get stocks, how to distinguish quality from fake, how to advertise your products and so many other things.
If you are able to do this honestly, it will help you when it comes to the smooth running of the boutique.
2. Plan Your Business
It’s actually not until you’re building a big company that you know it’s actually very important to have your plan in place.
As a matter of fact, most of the big companies started small and their plans were one of the things that helped propel their business.
Having a business plan, no matter how small the business is, is key. This is because a plan is like a map that can direct you to achieve your desired destination in business.
For a small business, building your plan is pretty simple. All it has to entail is how you plan to run your business, the kind of clothes you want to sell, and where you want your business to be in a few years.
You just have to make use of what you have learned about the business.
As you already know, there are lots of people in the business already. Your plan needs to include how you can beat them and keep customers rushing to your boutique store.
3 Determine What You Want To Sell
It’s actually advisable that you make this decision, especially being a fresher. Plus, you can’t possibly sell everything.
It’s best you focus on a few things first so that people can know you for that. Then, as you grow, you can expand and sell other things.
The niche and decision you can choose may be either to sell men’s or women’s clothing; to sell only clothes and shoes or add jewelry and accessories; to sell children’s clothing or only adults’; to sell only T-shirts and Jeans or to sell both jeans, t-shirts and even round or turtle neck polos.
It’s up to you and depends on your interest, financial strength, the knowledge you’ve acquired about the business and so many other factors like that.
However, some people sell unisex, single (men or women), or baby clothing. But as a starter, you can choose one of the trio.
These are the three major niches you can choose to engage in. As much as you are growing, as time goes on and your capital increases, you can decide to expand, expand and cover all niches or even further expand your same niche.
4. Pick A Name For Your Boutique
This is important too. Though many people term it as unnecessary, it is actually very important, especially if you want to do this business in a different way.
Choosing a name is also as important as other things. Business names are a way to make your business known to many.
It even makes your store easier to describe to people. But if you have known it, it makes it hard as they may only use your physique to describe you.
That’s when you hear descriptions like: “that fat man whose shop is beside Mama Ngozi’s canteen.” Sounds funny, isn’t it? when they could have just described it like this: around 2nd market, Ifite ask for Odogwu men’s world. Makes sense right?
Even big brands like Coca-Cola started with a name, so why shouldn’t a starter have one? It’s not rocket science, it’s something you can easily do.
You can even give it your name if you don’t have time to come up with one.
Also, try to register your business name with the government. It only costs N10,000 or even less, just to avoid any shortcomings.
To get your business name, just head to the corporate affairs office near you or register online.
5. Source For Capital
Here is what is called the father of all. Every business like a boutique needs capital. Your business capital determines how your business looks and its fate.
Any business demands good start-up capital, especially with the current inflation which is eating up the country’s business capabilities.
If you don’t start with reasonable capital and inflation hits you, you might end up losing your profit and parts of your working capital too.
For any business to really stand firm, there’s actually lots of cement (capital) used in building it. So you need to start with something worthwhile.
Not necessarily starting with millions. I, as a person, wouldn’t encourage that. Start small but not too small if you don’t have much, but if you do, start small and later back it up and finance it more and more.
As a business expert, I believe that’s the best way you can grow any business.
Though money isn’t everything in a business, ideas and the way you run it matter a lot. As much as it’s a boutique business you want to do, be ready to spend.
An idea or the right managerial skill might not actually be too effective if the money is not enough.
If you don’t have much, you can borrow from friends, family, or from the bank, then as your boutique grows you repay.
Don’t worry and fear anything, as long as you are determined to make a profit in this business.
In the below paragraphs, we shall be explaining how much is enough to start a boutique business in Nigeria. So try and read everything; you shouldn’t miss anything.
6. Choose A Location For Your Boutique
After getting your needed capital, then it’s like finishing the first half of a match. It is now time to make decisions that will determine your business.
The next step is to choose a location for your store…
This really goes a long way in affecting the fate of your business, negatively or positively. That’s when the first step comes to mind, and that’s learning the business.
I believe you didn’t just learn the business without learning where it can be sold in your locality. If it’s a no, then you definitely didn’t learn enough.
So go ahead and study where you think it’s strategic enough, be it in the public market or neighborhood shops.
Personally, I advise places that have a good number of youth in terms of population, and if your city also has an institution of higher learning, find a space near there because students patronize boutiques more than working people.
A good location, like I’ve said, determines a lot. For example, opening a boutique in a place where the population is scanty is a no-no option unless you like dusting clothes. It’s even better if you stay where the competition is high.
7. Rent A Store/Shop
Yes, renting a store is next once you’ve found a perfect location. The rent is included in your starting capital.
Rent a shop that’s not too old or dilapidated. Remember, it’s a fashion business, so it deserves some serenity and fineness.
Rent a place that’s comfortable and won’t affect you much when you start expanding. This is one more reason you should find a spot that’s spacious enough.
Another thing is security. Don’t rent a shop where it is not safe or the structure is not strong enough to resist buggling or theft.
I don’t advise you to buy wooden or movable containers. By doing so, you are only putting your money at risk. Your only option should be a well-shaped cemented structure with a strong iron door and window.
8. Buy Display and Shop Items
Buying dummies are very much pertinent for a boutique, and I don’t think you’ll be able to display your wares without them.
How are they going to know what you sell? So try to buy 2 to 3 of them, depending on your budget.
Other items you need to buy include shelves, cabinets, hangers, clips, and packaging items.
This probably shouldn’t be on this, but I think it’s actually necessary. Put a signboard outside your shop; create business cards, posters, and fliers.
They could actually be a way of informing people that there’s a new boutique store around.
9. Stock Up Your Boutique
Before this, there’s a pre-action you need to take. And that’s to get in touch with a supplier. You can ask people you know who already sell quality wears to recommend theirs to you, or you can go to the market yourself to search for one.
You can get suppliers from big markets like Onitsha main market, Balogun market in Lagos, Ariaria market in Aba, or other wholesale markets nearby.
Remember, it’s not to sell clothes and jewelry alone, but do you sell quality? That should be the kind of supplier you find.
One that supplies quality. To buy stocks, you can take orders from your dealers or go to the market yourself once many products are out of stock.
Consider buying what you need and what’s trending and profitable. In fact, don’t go for cheap supplies; most are fakes and could damage the new reputation you want to build.
10. Start Selling
Once you’ve put everything in place, start selling immediately.
If you are a religious person, you can pray before you start and commit your business to the hands of your creator.
Display your samples outside. Learn how to make customers happy. Tell them you wish they come again after every sale. Sell at a reasonable price, not a cheating price.
Also, imbibe the spirit of punctuality, as they say. Punctuality is the soul of every business. It’s very important.
11. Advertise Your New Business
Start letting people know what you sell. Implement some of the marketing strategies you’ve included in your business plans. Give business cards.
There are actually two ways to advertise your boutique business. Promote your business both online and offline.
Offline- You can ask a friend to tell their other friends, share branded items, and pretty much anything else is possible as long as people get to know you.
Online– Facebook, WhatsApp, Instagram, and Twitter are there for you to let people know what you sell and what products you have in stock. You can even add more to your online presence by creating an e-commerce website with WooCommerce or Shopify.
Also, platforms like Jiji, Jumia, and Konga are there too. On these platforms, you can sign up and own an online store with them. This is very much worth trying. Try it and see the magic!
12. Provide Extra Customer Service
This may help your customers transport goods bought from you to their destination or way billing orders from online sales you made. Apart from the trust you gain, you also earn more from this.
Also, extra services like owning a POS machine for customers without cash to pay should be welcomed.
Customer care services can help your business grow a lot. I think it’s a good way to get them coming.
How Much Should You Have to Start A Boutique?
Now let’s discuss this.
I think this is actually one of the things that brought you to our site.
This is what any reasonable person that wants to start a business will want to know about first. But for me, it’s not the first, though it’s among the first of the first.
You can actually start almost any business with what you have, but you cannot run it with just anything. Else, you might soon become a former boutique seller.
Nobody wants to start a business this month and have it become history the next.
Here’s what you want to hear: to start with my own analysis and review, you will need a minimum of N650,000. If there’s more, invest in it, please! This may actually include the sum being spent to rent your store, the shop items, and government registries.
It’s a business that requires lots of money as some clothes have become so expensive that you need big capital to have as much in stock as possible.
You, as a seller, will be sad if a customer asks for two different things and you reply with: “E no dey.” As a concerned businessman or woman, it’s painful.
So invest, and run it well. That’s all I can say about that.
Things You Can Sell In Your Boutique
The boutique business has gone past the mere selling of clothes alone, as there are lots of other fashion items you can sell and make profits. T-shirts, skirts, underwear, bra, pants, jeans, shorts, gowns, polo shirts, lace, socks, shoes, boot slippers, baby wear, tie, rings, wristwatches, wrist bands, earrings, bangles, necklaces, shoelaces, handkerchiefs, fashion glasses, sunglasses, belts, headgear, scarfs, sandals, caps, hats, handbags, school bags, perfumes, and even makeup items.
Where To Buy Clothing Items In Bulk
There are many places you can buy clothes in bulk in Nigeria. Places like Lagos, Onitsha, Aba, and Kano are places where most Nigerian bulk breakers get their merchandise from.
Aside from that, you can even import directly from countries like China, the UAE, Japan, and the United States. It’s not as expensive as you think.
In fact, things are 3x cheaper there. It’s just that it might take some time before they’re shipped to Nigeria. If you are patient enough, you can as well try it.
International stores like Alibaba, Ali Express, and eBay are there for you. You don’t need to panic. They are trusted global selling stores. They will make sure your goods get to you.
Is A Boutique Business Lucrative?
It is, in fact, one of the most lucrative shopping businesses out there. Because clothes and other fashion items are both needed and wanted commodities.
People want it for protection and fashion. Clothes are not everlasting products as they fade with time. So you see why it’s lucrative? Everybody wears clothes, aren’t they? It’s just like everyone eats every day.
Hint: Forget about lots of people doing it; just do it in your own unique way. If others are selling quality, sell over quality. Selling cheap will not make them rush you at all. Sell at a price that’s profitable to you. Don’t incur an unnecessary loss because you want a crowd.
Bottom Line
Clothes and other fashion items might today look like just fashion, but it’s more than that.
Everyone wears clothes, so definitely everyone buys clothes, especially ready-made clothes because of their durability compared to natives’ wear and because they can serve multiple purposes and for different occasions.
So, if you are considering opening a boutique soon, You shouldn’t even mind if the space is saturated or not.
There are your own customers waiting for you to just do the right thing. The profits are great and the business can make you a millionaire.
All you need is in this post, so reread if you are yet to grab information fully or ask questions. So go ahead and start your boutique business today.
I believe you’ve learned a lot from this post.
