How To Start A Clothing Store Business In Nigeria
It is possible to open a clothing store in Nigeria and prosper in this highly competitive fashion market. Nigerians love wearing the latest cloths and especially enjoy putting on American and European brands such as Tahari, Jones NY, Polo Ralph Lauren, Tommy Hilfiger and Kenneth Cole.
The much lower end of the clothing market in Nigeria comprises of Chinese imported apparel, with the middle and high end segments comprises of of imported brand name clothes.
Opening a clothing store in Nigeria may seem complicated, but if one makes use the following steps he or she can be operating in no time.
Research the market and decide which market segment you are selling to. Once you decide who your ideal customer base is, you will know how much these customers can afford to spend, and which brands and styles they like purchasing.
Once you have this information you want to contact wholesale clothing suppliers that carry the lines you want to stock your store with. The Internet is a perfect tool which can be used to get in touch with legitimate clothing suppliers. Nigerians enjoy wearing designer labels so your focus should be on brand name apparel vendors.
Purchasing closeouts is also a savvy way to carry an inventory that will be more affordable to your customers, while still supplying them with the styles they wear.
Select a name for your clothing store. Business names must be registered by the Corporate Affairs Commission. Submissions can also be done online or in person at their Abuja or Lagos office.
If your business name is not being used, and it is accepted, you will receive confirmation within 48 hours.
Your shop must be registered through the Federal Board of the Inland Revenue Service. You can also have an attorney draw up and notarize the articles of incorporation, which will allow your business to be registered through the court and the tax office.
Part of the reason why Nigeria has such a vibrant economy is because of government regulations, ensure that you comply with them by hiring a very competent attorney.
Select a viable location for your clothing store. In order to select the optimal spot you need to first determine where you want to have your ideal customers shop. If you are selling corporate suits or dress shirts you are to be situated in an urban location, near office buildings or government agencies for maximum sales.
On the other hand, if you are selling casual wear such as sneakers or shorts, your store should be in a shopping mall or in a neighborhood location.
When searching for a commercial location you should register the services of a licensed commercial broker. Agencies such as Knight Frank Real Estate, Lagos Nigeria Real Estate Advisors, Tunde Co. Properties, and Shining Solutions are firms which can help you find an appropriate place.
You can conduct a free search through NigeriaPropertiesOnline.com, which is a large real estate database.
After you have selected the perfect place for your store you need to address more practical concerns. You will want to purchase, or have someone make for you, racks and shelves for your merchandise. Decorate your store with exciting pictures that display models wearing the clothing that you have for sale.
You may take the pictures yourself, hire a professional photographer, or ask for pictures from your clothing suppliers. Make sure that the décor matches your customer base.If your shoppers are middle aged bankers then you should use pictures of professional men and women in work settings.
Start advertising,hire a flyer distribution service, place ads in local newspapers, and market through social media outlets such as Facebook.com