If you want to start a wig and hair business in Nigeria but don’t know what to do, worry no more; we have put together this comprehensive guide to help you understand the steps you need to follow to achieve your aim.
In Nigeria and many other countries, women wear hair extensions to look more beautiful and exceptional, so the hair business is very lucrative in this part of the world. Also, the best part of this business is that you can sell it without a shop. Many people start selling hair through drop-shipping before they can finally acquire a shop to display their products.
So, even without huge start-up capital, you can begin a wig and hair business and build a successful brand in no time.
Different Types of Hair
Several types of hair extensions are available in the market today, from synthetic hairs to Brazilian hairs, Peruvian hairs, hair blends, attachments, Indian hairs, etc. They come in different colours, inches, and styles, so you should find what is right for your target market.
Steps to Start a Hair Business
Educate Yourself
When starting a business, the first thing to do is learn what it entails and how it runs, and the hair business is not an exception.
Without adequate knowledge of a particular business, you might not succeed in it no matter how much you invest, so start by educating yourself. Learn about the various types of hair extensions available in the market, then also learn how to give your clients vital tips on the hair and wigs they are buying from you, including maintenance tips.
Find a Reliable Supplier
The reliability of your supplier will go a long way in determining how profitable this business will be for you. As a result, it is not enough to just find a supplier; you must find one you can trust. Having more than one supplier is advisable to make things more flexible for you.
In addition, keep in mind that the type of supplier you will work with might depend on the projected size of your business. For example, you can buy from bigger hair brands in Nigeria or in larger quantities from other countries. Although the first option is more accessible, the latter is cheaper.
Rent a Shop
Unless you plan to sell your hair extensions and wigs online, renting a shop is very important; you can rent any shop that fits your budget and business size but ensure the place is safe and customers can easily locate it.
Then buy whatever you need for your shop, such as furniture, shelves, wig stands, mannequins, etc. It would be best if your interior design is attractive and comfortable to improve your customer experience.
Promote Your Business and Start Selling
Once you ascertain the reliability of your supplier, you can start buying products and ensure you promote and market your business as much as possible to get enough traffic to kickstart your business.
One of the best ways to promote your hair business in this modern day is by using social media platforms like Facebook, WhatsApp, etc. In addition, you can also take advantage of influencer marketing campaigns and platforms to promote your business.
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Register Your Business
You may not have thought about this, but building a brand with a business name someone else has already registered can be counterproductive. So before you invest too much into building your brand, you need to register your business name with the Corporate Affairs Commission of Nigeria (CAC) and the Federal Inland Revenue Service (FIRS) for tax payment.
Keep up With the Trend
Nigerians love to look good, and trends are an indispensable part of the fashion industry, so if you own a hair business, you must strive to keep up with current trends to satisfy your customers’ needs at all times.
Hire Staff
It is possible to start your hair and wig business alone; however, when your business grows, and you need assistance from others, you can consider hiring staff, for example, cleaners, hair stylists, sales reps, etc.
What is the Cost of Starting a Hair Business in Nigeria?
Starting a hair business in Nigeria can cost 300k to 5M; it all depends on the types of hair you want to sell and how big you want the business to be.
However, if you do not have enough capital, you can start an online store where you display pictures of products from your supplier. Then, when your clients pay, you can act as an intermediary between them and the supplier and get your profits.
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The hair business in Nigeria is very lucrative as long as you understand what you are doing and your prices are reasonable.
Also, keep in mind that anyone can start this business; it is not a business for females only. So if you are a man and have a passion for fashion, you can also go into this business.
