Interested in small hair extension business ideas? If YES, here is how to open a hair extension business with no money and no experience. How much does it cost to start up?
HOW TO START WEAVON AND ATTACHMENT BUSINESS
Buy And Sell Original Expression, Chocolate, Noble, Supreme Hair Extensions In Nigeria
In most black nations of the world including Nigeria, hair extension and wigs are unarguably the most sought after hair products. This is due to the widespread preference for a long, straight hair as opposed to the short and kinky nature of the african woman. This taste has created a huge market for these products over the years.
Are you a person that loves noticing people’s hair and also touching it? Do you have joy in making hair looks neat and beautiful? Are you looking forward to starting a business and are clueless? Why not start a hair extension business? Actually I will tell you why you need to.
Firstly, starting a hair extension business is no rocket science. Most persons are scared of starting a business because of the risks involved. However, there are a number of gimmicks that would smoothen your path through the business if you are adequately guided.
You must realize that every venture comes with its packaged set of challenges. But if equipped with the right tools, we are simply going to be the potter that has no clay too hard to bend.
Let us kick off by noting that there are a number of hair extensions and its affiliated products in the market. From Brazilian, synthetic, human hair, Peruvian hair, Indian hair, amigos attachment, expression attachment, and wigs. We should know as well that the costs of procuring these extensions come in a stratified way.
Then to top it off, there can as well be an extension to the hair extension business, in the sense that you could also include the products for hair maintenance as well.
Many people spend a lot of money on wigs and weave-ons. You’ll be shocked to know that some of these products goes for as high as N300,000 per pack!
Types Of Human Hair Extension
==> Brazilian Hair
==> Peruvian Hair
==> Malaysian Hair
==> Indian Hair
==> Chinese Hair
==> Synthetic human hair
==> Expression attachments
==> Amigos attachments etc
They come in varieties of length, colour and brand.
One of the good aspects of this investment in Nigeria is the presence of little or no price regulation. Price varies from place to place. You may decide to set your own price based on the financial status of your potential customers as well as your locality. Price of hair extensions also depends on the length and thickness of the hair. In Nigeria, getting these products from the open market is way less expensive than buying from a boutique. Prices range from $20 (N3,000) to $200 (N30,000) a pack.
How To Start Making Money From Human Hair Extension Business
==> Take some time to learn about weaving and other applications of human hair. This way, you can understand which hair is best for different types of extensions braids and weaves.
==> Do a general market survey for the prices and size of your market. For instance, how much is a carton of expression attachment?
==> Look for a supplier or with good price, there are lots of weavon and attachment distributors in Nigeria.
==> You may also shop around online using online stores like Amazon, Alibaba and Aliexpress.
==> Be ready to travel to China or Indian so you can negotiate for a better price on bulk purchases.
==> When you buy in bulk, you get good deals.
==> Import your goods into the country and do the necessary clearing.
==> Find a shop or warehouse, strategically located, where you resell to wholesale distributors, retailers and end users at a good profit margin.
==> Nobody gets to know about a business that is not promoted. So, adopt various marketing strategies in order to spread word about your hair selling business.
Without further ado, I will look directly at the guaranteed steps for a successful start of hair extension business; steps that are certain to guarantee you security from being swallowed by any risks.
- Gain Thorough Knowledge
As important as it sounds, it is the primary key that would open your success doors in the fashion industry. You must be as vast as possible. I’m not saying you should begin to study the history of the House of Worth where serious fashion began, but the rudiments of hair extensions would do.
You must answer questions such as: how many variants of hair extensions are there? Which hair extensions are of good quality? Where are the locations to purchase the hair extensions? Upon arming yourself with the answers to these questions, then you are in position for the next step.
- Conduct a Feasibility Study
This part is as crucial as the first. It is the wind vane the determine the direction of the wind of investment as you launch your business. You must find out what styles of hair extensions appeal to prospective customers, and what range of quality they are capable of affording.
You must also find out the location where you intend to site your business, and what income grade of people stay there. It is madness to start up a hair extension business in a monastery, so look out carefully for your location, and draft up a concise business plan.
- Get a location and Purchase Some of the Items
Now you are taking the first practical step. You could budget probably between 60, 000 to 100, 000 naira for getting a shop depending on the location. Then go on to invest possibly a capital of between ₦400,000 to ₦600,000 in the business.
Take this from me: with the right dedication, you could be making over 25% of this investment capital on a monthly basis. So it’s worth it.
- Establish Relationship with a Manufacturer
Indeed this also dictates the extent of success of any business. Choose a manufacturer to deliver wholesale quantity of the products to you, as this would ensure quality as well as reduce cost.
This is very important. Some business owners make orders directly from China and India where these products are manufactured, but if your means can not afford that, then you could simply connections with local manufacturers; in the given time, you would scale to higher levels.
- Adopt Strategic Pricing
You must choose prices that would make sense to your client’s pockets as well as yours. The economists would call this ‘equilibrium price’. As a business starting up, you need to command the market, you need to twist the competition in your favor, and what is a better way of doing so than using the tool of pricing?
Adopt a suitable price for your hair extensions and associated products such that you are making profits, and your customers are comfortable. Again, you must not compromise on quality.
As part of the backbones of any business venture, the need to promote the business is chief. You must take advantage of platforms like Facebook, Twitter, LinkedIn, and other social media to advance your business beyond the frontiers of your immediate location.
Friends can even place orders through to you over the internet. Mouth-to-mouth information is as well another key; an indispensable one at that. Even using the hair extensions on its own is another way of advertisement that fosters sales.
Creativity is another key player in the fashion kingdom; it determines to what extent you would penetrate the market. All in all, the formula is simply: good plan plus dedication plus knowledge equals financial success.
Whether you are already in this hair extensions wholesale business or interested in starting, feel free to share tips or ask questions below.