Selling baby items is one of the lucrative ways you can make money in Nigeria. But the chances of making money selling baby items in Nigeria depends on many factors which we are going to show you in this article.
Although many people are venturing into the business of selling baby items in Nigeria, it is not all of them who achieve their goal, which is making money. To make money selling baby items in Nigeria, you have to put many factors into consideration. These factors include where to buy, location of your shop, how cheap you buy, consistency of your supply etc. jamb result
Baby items such as clothes, shoes, napkins, pampers, pants, toys, baby carriers, diapers, wrappers, soap, towel etc. are in high demand as millions of couples are putting to birth on daily basis. You even have to be up-to-date in order to keep abreast of what is trending in the market.
Although the market for baby items is already flooded, there are ways you can still get your market share and make money selling baby items in Nigeria. Information guides Nigeria
Startup Guide for Selling of Baby Items in Nigeria
Write a Business Plan
The popular adage, if you fail to plan, you plan to fail, is an established fact in business. Therefore, if you intend to start baby items selling business, the starting point is to write a comprehensive business plan. It is in the written plan that you will be able to figure out what you need as capital, identify your target market and determine your potential market share. A business plan will help you formulate a strategy so as to know what not to do and what to do at any given time while in business. NNPC recruitment
Register Your Business:
After formulating your business plan and determining your strategy, you can proceed to register it with the Corporate Affairs Commission. The cost of registering a business in Nigeria is very affordable, so there should be no excuse. Depending on the type of business you want to register, the cost ranges from #7500 – #10,000. How to Make Money Selling Baby Items
Source for Capital:
Selling baby items in Nigeria requires a reasonable amount of capital. You will need at least a million naira for shop rent, and an additional #3 – #5 million to buy stock. Note that your capital might include cost of advertisement and promotion, among other things. You can get capital from your personal savings, bank loans or borrowing from family and friends. 10 Best Blog Niches that Make Money in Nigeria
Employ Helping Hands:
You need to employ Sales Girls or Boys before or immediately you start your baby items selling business. You would not want to be on and off, thus, you would need to employ a sales person to keep the business running whenever you are not available to attend to your customers. That will take part of your startup funds in form of salary. dollar to Naira rate
Invest in Advert and Promotions:
You may also need to put aside some part of your funds to cover your promotional campaigns to lure in customers. Taken to advanced stage, you might want to invest in paid adverts. Whichever one you can afford will be of help to your business growth.
How Profitable is the Selling of Baby Items in Nigeria?
The profit margin for baby items selling in Nigeria is high, provided you know the right location to buy from and put your eye down to nurture the business to the profitability stage. You are not going to make it overnight, but once people know you and begin to give you regular patronage, you will maximize your profit.
Let us assume you are making the profit of between #200 and #500 naira per item and sell between 10 – 50 items a day, you will be talking of #10,000 – #25,000 per day. If your baby item selling business can generate such profit in Nigeria, then you are good to go.
Let us now look at how to make money selling baby items in Nigeria through the following ways:
Find a Good Location for your Business:
location is a contributing factor for success in any business in Nigeria. It determines the volume of sales you make and how much money you make at the end of the day. If you can locate your shop or selling point close to a general hospital or popular maternity homes, you are well positioned to make money selling baby items in Nigeria.
However, in today’s digital economy, your location might not have much effect on your sales of baby items in Nigeria, if you know how to leverage the power of the social media and digital marketing. We will show you how in this article as we proceed.
Be Consistent in the Market:
consistency is one of the core principles of successful businessmen or entrepreneurs. For you to make money selling baby items in Nigeria, you must be consistent with your stock and in appearance. Both you and the products your customers are looking for must always be available.
Let your customers know they can find what they need whenever they visit your shop. That way, they will become loyal customers and will recommend you to others. By so doing your sales will increase and you will make huge sums of money selling baby items in Nigeria.
Sell Quality Products:
You will make more money selling baby items in Nigeria if you use quality to make a difference in the market. Try as much as possible to make available quality, durable and lasting products to your customers. That will stand you out in the market and draw more customers to you, and as a result you will make more money selling baby items in Nigeria.
Sell at Affordable prices:
According to economists, Nigerians are always on the look out for quality goods at affordable prices. If you can give your customers the goods they demand for at the prices they can afford, you can win more customers, increase your sales and make more money selling baby items in Nigeria. Pricing can make the difference and affect your sales positively.
Find out Where You Can Buy Cheap:
The secret to selling goods at affordable prices is to find out where to buy your products cheap. You can achieve this by trying out different suppliers to identify the most affordable for you. You can as well try buying from different locations and then compare the prices. Sometimes it is cheaper to buy outside the city you are doing business, especially if you buy in bulk. That is why some traders have to leave Lagos and go purchase their goods in Aba or Kafan Chang and vice versa. Buying cheap will make you sell at affordable prices and without fear of loss and make money in return selling baby items in Nigeria. Meanwhile, if you are in the South East, Aba is the most affordable place to buy your baby items for resells. If you are in the South West, Lagos is the place. JAMB CAPS
Above all, you can import your goods from other countries in order to maximize your profit, though that will require huge capital.
Carve Out a Niche:
Direct your efforts and resources toward particular set of baby items to sell. You may focus on clothes and shoes, food and cosmetics, Accessories and toys and bicycles. Once you choose a niche, stick to it so that customers can always meet their demand at your shop.
Identify The Trending Products:
Conduct a feasibility study to know baby products that are trending in the market. From baby food, clothing and toys; there are times one product become more popular than others. You know what I mean, people follow crowds. Once a particular product trends in the season, that is certainly what would be profitable.
Keep Sales Records:
Record keeping is a major factor that determines the success of a business, be it large or small scale. Through your records you will know what sells most and when. With the records you have, you can make meaningful decisions that will impact your sells profitably. Carry out serious findings; don not depend on guess work if you really want to make money selling baby items in Nigeria.
Reward Your Customers:
Compensate your customers with giveaways like little discounts. No incentive impresses customers like discount of any rate. You can segment your discounting periods into seasons like Christmas, Easter and other festive periods. Running promo from time to time can also help to pull in customers. #BbNaija: Lovely Housemates Welcome First Child.
You can really make money selling baby items in Nigeria. Like any other business, if you adopt the right measures and marketing strategies like good location, consistency, selling quality products, making your prices affordable, buying cheap, knowing your niche, following trends, good record-keeping and customers’ rewards; you will make money selling baby items in Nigeria. Once you do the right things you are supposed to do, you will be successful selling baby items in Nigeria.
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