HOW TO START A SHOEMAKING BUSINESS IN NIGERIA
The fashion industry needs no introduction. It is one of the immensely popular industries in not only Nigeria but around the world. The industry is big and filled with different opportunities. Male and female always want to look good, which is why the need for the fashion industry is indispensable. Fashion encompasses different things from clothing to bags, jewelry, make-up, shoes, and several others. Entrepreneurs can look at this industry in a bid to get a lucrative business idea. As a part of the fashion industry, the shoemaking business brings another remarkably interesting opportunity to styling entrepreneurs. It involves the production of shoes or other footwear from scratch. It is really a popular business in Nigeria, although its dominance is gradually waning compared to the reality in the past. The business is lucrative and a good option for entrepreneurs looking to start a business.
The shoemaking business, just as the name implies, incorporates all the processes involved in the production of footwear for customers willing to buy them. Shoes and footwear are another important fashion feature, and they are worn by a lot of people every day for several reasons. If you are not wearing a shoe, then you are wearing slides, palms, or slippers. There is something for everyone. Some people do not really like shoes and look for other kinds of footwear which are also readily available in the business. It is a profit-generating venture and one that can bring in a good income for individuals who start it.
As it is for most other businesses, this business is also available on a small scale and large scale. The small-scale aspect usually accommodates entrepreneurs who want to start a business but are without sufficient capital required to start a much bigger version of the business. This aspect, as we have mentioned earlier, requires a small amount of capital as compared with the large scale. The shoes, palms, and other footwear are produced from scratch in small quantities or even as orders are made. This is because individuals have different tastes, and sizes are also different for most people. Samples can be made for common sizes and displayed for advertising the business. Getting to a shop is not compulsory but you can also get a small place where you can display your products and have customers come in to take their measurements. The large-scale aspect involves production in enormous quantities. Machines and equipment that will hasten shoemaking and make it more efficient can be afforded. Previously, people used to believe that this type of business sells very well in the city areas, leaving the people in the rural areas to worry about making good profits should they venture into the business. However, the good news is that Kusnap Africa Limited has established an online marketplace where entrepreneurs can directly sell their products and services. Therefore, regardless of your location in Nigeria, you still have access to customers all over the country and beyond Nigeria. All that you must do is to create your own online store at www.kusnap.com and post your footwear there. Certainly, you will smile afterwards. Therefore, the idea of reaching customers is no longer a problem.
One thing to consider in starting this type of business is the demand for the products. The demand for the products is quite high and that makes it a reasonable option for individuals willing to start the business. Footwear is a very fashionable product and they come in different forms for individuals depending on what they like. It is also widely worn by people in Nigeria daily and even after some time, it is usually replaced with a new one or in case there is another one better than the previous ones. Shoes and other footwear are important for our daily activities, even just walking, and you would hardly find someone not wearing any footwear at all. This explains the high demand. The demand for a product like this translates into a high number of customers which eventually results in high profits. Another thing is that the practice of the business is not as popular as it used to be, so you will not have to worry about too many competitors in the business. Also, there is the prospect of expanding and having an even larger footwear company.
Starting a shoemaking business is not really a demanding thing to do. Even though this is a business option that will mostly be associated with shoemakers or cobblers, it is also something that can be practiced by anyone either by learning the shoemaking aspect or just staying on the sidelines and having someone do the production part while you work on branding and marketing for the business. You do not necessarily need any professional experience or educational qualifications to be able to operate the business. It is not difficult to start, and capital can either be large or small depending on the size of the business. In the next subheads, we will be discussing the steps involved in starting a shoemaking business in Nigeria and some of the important things that might prove useful under each step to ensure you are successful and doing the right thing as well as making a good amount of income from the business.
No matter what you have heard someone saying about a business and how well success is assured or how lucrative it would turn out, always try to do your own research. The research will not cost anything except your time and that time will prove to be well spent when the business starts, and the successes start coming in. It is important to do a thorough investigation into the business since you are going to be investing your money in it. Some hours of research will not hurt.
The research is always meant to give you an idea of what to expect and the challenges ahead to be faced. It teaches future entrepreneurs how the business works and what success means. It shows the risks involved and the ways to tackle them. It also gives ideas on how to sustain the business and work towards more success. Imagine missing any of the mentioned points, it is more like being less equipped about something, especially something you plan to spend money on. There are experts in the business, of course, so also look to advise from these individuals as they are the best bet for reliable information on the business. Take note of even the smallest things during the research period and pay close attention to how to stay and survive in shoemaking. The research is as important as anything in the shoemaking business.
- Write a business plan
A business plan needs no introduction. It is equally as important as some of the other processes or things involved in shoemaking. After comprehensive and thorough research has been conducted, entrepreneurs must now put all their ideas into paper afterwards, of course, deciding to start the business. The business plan will cover things like the way you plan to operate, the cost of several things, how you plan to market your business, future projections, and contingency plans.
The business plan serves several purposes. In cases where individuals might need to get investors or even get a loan, it will prove useful as it will contain all that needs to be known concerning the business. It is also going to serve as a point of reference for the proposed business.
- Capital and location
The need for capital for starting a business cannot be overemphasized. The capital needed for this business is small, although it still depends on the capacity you intend to start with. Location is not important if you are starting on a small scale, though you can get it if you feel the need for it. If you will not be getting a location, the cost of getting the materials will be the main thing the capital will be used for.
- Getting the raw materials
At this stage, the business is about to start. You will need to visit markets where these products are sold and get them at reasonable prices. You can also get more than one place so you can always alternate when you want or when there is an issue with one of the suppliers. The basic materials needed for the business include leather, sole, gum, sole presser, scissors, hammer, mallet, and filing machine. If you will be getting someone to deal with shoemaking, then this is the time to get one. You can also get a dispatch rider to help with delivery.
- Marketing and sales
Social media are effective media channels for advertising the business regardless of where you are situated. This gives you an opportunity to work from home. You can also make use of a website where prospective clients can go on to check out what you have and make orders. Word of mouth and referrals also play a huge role in getting customers.
The start-up series is regularly brought to you by Kusnap Africa Limited. For more information about the Kusnap brand, visit https://www.kusnap.com/; and for Kusnap Entrepreneurial Institute, visit https://blog.kusnap.com.