Here in this post, we are going to bring you detailed information on fashion design business plan in Nigeria. We hope you find this invaluable.
The fashion design business remained one of the fastest growing industries the world over. In Nigeria for example, its popularity is increasing day by day as fashion designers smile to banks by increasing people’s need to buying designer products such as, designer clothes, and designer wears.
In fact, the frenzy that surrounds the impact of fashion business in this country is setting a business standard that is likely to lead to a new trend of creating fashion store at every nooks and corners of this country daily.
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However, to run a successful fashion design business in today’s business world, especially in Nigeria, you must have to draw a business plan to that regards, and in this article, I will help to work on one of such business plan.
What Is Fashion Design Business?
Fashion business is simply about manufacturing, and modification, and importation, and exportation, including general sale of fashion materials in Nigeria, and Africa, as well as anywhere else across the world.
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Business Opportunities in Fashion Design Business
There are quite a number of business opportunities in fashion design business in Nigeria for instance, and I will be discussing some of these business opportunities in this article. Below are some of them:
Fashion Design Business
Fashion design business remained one of the most popular aspects of the fashion business in Nigeria, and persons, who are creative are the individuals who operate in this area.
They operate by bringing their ideas to physical manifestation in various dimensions via different designs. Once they finished sewing, the clothing are packaged and then sold to members of public with a knack for purchasing designer clothes.
More so, the roadside tailors are also operating within this area of fashion business, because they sew custom-made clothing and non-designer clothing for their customers.
Another area of their function is in the patching and adjusting ready-made clothes that are brought by persons, and this is what contributed to a bulk of their smaller income stream.
Fashion Retail Business
Embarking on fashion boutiques or maybe on retail stores is another popular aspect of fashion business in Nigeria. This segment of fashion business is widespread across Nigeria that is why, these businesses can be found in almost every market place and in most of the street corners.
Because people are often longing to always buying clothing at some instance, this, as a result, has caused fashion boutiques business to continue in recording product sales on daily basis.
Fashion Import and Export Business
The fashion import and export business segment of the fashion business in comprising of individuals who are manufacturing locally for the purpose of exporting them to others countries, as as well, importing same from other countries of the world.
This set of people in the fashion business are large scale players in the country as well as, many other countries. Usually, they will import their goods in large containers and also distribute them at large qualities to market traders.
However, since this aspect of fashion business involves large volumes business transactions, the fashion import and export business is usually played by big investors, as well as persons who can access bank loan facilities.
Nevertheless, although a number of low-budget businessmen still operate around this area in fashion business, but majority of these successful lots in fashion import and export business are people who import goods in larger quantities and also distribute them to traders in larger markets.
What Are The Benefits Of Fashion Design Business?
There are a good number of benefits of fashion design business, but without much ado, I will be mentioning quite a few of them here.
The fashion design business market is a growing market, and its growth is faster and supersedes many other industries
The basic capital to start-up fashion design business can actually be little at first
It can be less stressful and easy to source go start-up income
The profit margins of fashion design business can be very high, dependent on the area of fashion design.
Establishing A Fashion Design Business – Manufacturing:
Decide The Type Of Fashion Business You Want:
This is the point you have to take decision on the type of fashion business you really want to engage in. Just as I said earlier there are a few of them, but let take for instance, supposed you want to engage in the manufacturing of fashion materials so as to create your fashion brand.
You Will Create Your Designs:
At this point you will have to sketch your designs. However, to achieve this, you do not really have to earn a special degree or certification.
Instead, you need to possess a creative mind and you have to be a kind of person, who has a knack for spotting trendy sellable goods.
In case you have a problem of putting your own ideas down in to the paper, you can decide to attend a fashion design school, so as to help you, and by so doing, you can trigger that part of your creative side to fashion design business.
Make Your Sample
You are to make a sample of your products you want to manufacture. When once you have your sample and you are sure to meet every specification of your products, you can then go on to finding your factory that will manufacture your fashion materials in bulk.
Locate A Factory
While locating the factory, the most important thing you should do will be to ensure the factory can successfully replicate your prototype and, after that you can then go on to make some orders of different shapes and sizes.
Market Your Product
You must have a sales and marketing team in your business whose object is to provide your business with a market and execution plan in order to build up and also grow your fashion design brand. And again, since sales is considered the life-blood of any business, it is therefore, important that you consult a sales expert.
Challenges of The Fashion Design Business
Before I conclude my discussion on this article, I will, at least, itemize some of the challenges of fashion design business, and they are:
High setup costs and
Rising costs of production and
Marketing / Sales and
Sourcing credible manufacturers and
Staying up-to-date with the trends and
The fashion design buiness in Nigeria, can be profitable and at the same time very terrible just like any other businesses.
You need to do an extensive research, and as well ask the right questions, and you must also understanding the business fully.
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