HOW TO START AN ONLINE SHOE/FOOTWEAR SALE BUSINESS IN NIGERIA
The fashion sector is one of the most lucrative industries in the country as it offers a number of business options for individuals to try out. The online shoe sale business might still be a new business due to its online nature of operation but the sale of shoes have been in practice for a really long time as it has been something done in a physical place or a shop. It is a really lucrative business as shoes are pretty much worn by everyone and depending on the kind of shoes gotten, the prices are quite decent and something that can bring in profits for individuals. As this aspect of the business is online, it’s not even a really difficult business to start as it doesn’t require too much things in starting up and it’s also something really easy to understand how the business works.
The online shoe sale business simply involves the sale of everything shoes. In a business like this, every kind of footwear can be gotten and even depending on the individual starting the business, you can decide to either work with male, female or children shoes. Of course, there’s an option of working with all if there’s enough capital and also if you’re able to cope with all the business entails. The business, like I’ve said, is not really difficult to start and it’s also kind of a new business that has not been around for a really long time. The online option of starting a business only became quite popular in recent times and with that, many people started setting up their businesses online.
The business, even though still online, can either be started in a small scale set up or a large scale set up. The small scale aspect involves a really small aspect of the business where only a few things are sold and there might even be a category of shoes or footwear that is even sold by the entrepreneur. For example, in the small scale aspect of the business, an individual can decide to deal in sale of men’s footwear while another might decide on doing female footwear. Even where the two can be managed together, it’s still in a small scale as too many products are not available. For the large scale aspect, which is quite different, you get to sell as many shoes as you like as there’s definitely enough capital. There’s also the option of selecting a niche here too though it’s less likely as the business is run on a large scale and there’s enough capital to get whatever you want.
One of the main reasons of starting the business is of course, the demand for the products. Shoes don’t need any kind of extra explanation to know how well they’re worn and also how popular they are. Shoes are worn by everyone and it’s also something that has a really high demand. They are worn to work, school, parties, events, and almost every other occasion you can mention. There are even some shoes that can be worn at home for either workout or a small run around the house. The demand for the product is really high, like I’ve said, and this of course means business owners will not have a problem getting customers which in turns results in high amounts of income or profit in the business.
Another thing is the online nature of the business. If there’s one thing about running a business online, then it’s the comfortability and ease of operating the business. You’ll be doing absolutely everything regarding the business online except getting the products though there’s also the option of getting that online too without having to go anywhere to get them. The cost of the starting the business is also quite lesser than when you’ll be running a shop or physical location for your business. All you’ll focus your capital on is goods and how you’ll be getting them.
Starting the business is not really a difficult thing to do, like I’ve mentioned severally. It can be operated online and that makes it a really doable business option for entrepreneurs looking to start a business. The small scale and large scale aspect also makes it an option that can be used by even invidivuals with a little amount of capital. It can be started by almost anyone as you don’t need any kind of special training or educational qualifications or prior experience to be able to start up. It can also be started as either a full time business or as a part time thing.
In the next sub heads, I’ll be discussing the steps involved in starting up an online shoe or footwear business in Nigeria and some of the important things that might prove useful during the course of running the business to ensure that you’re able to get customers. Make your money and also be successful at the business you’re starting.
No matter what you’ve 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 starts coming in. It is important to do a thorough investigation about the business since you’re going to be investing your money into it and you’ve never been involved in the business. Some hours of research won’t 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 entrepreneur 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 out on any of the mentioned points, it’s 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 most likely 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 the business. The research is as important as anything in the business.
2. 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 the business. After a comprehensive and thorough research has been conducted, entrepreneurs must now put all their ideas into paper after, 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 also contingency plans.
The business plan serves a number of 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.
3. CREATING A BUDGET
The budget to be used for starting the business actually depends on the scale of the business the entrepreneur wants to start. A small scale business involves a smaller capital than when it’s a large scale business. You can create a list for all the things needed for the business and then use that to estimate your capital. Sources of capital can either be from personal savings, loan from friends or family members or taking a loan from the bank.
4. GETTING THE PRODUCTS
This is the point where you’ll need to get the shoes you’ll be using for the business. You can visit the market and get a place where you can get the shoes. Ensure you get more than one place so you can have a number of options. If you’ll want to get them online, visit websites where shoes are sold and get what you want and have them delivered to your place. After getting the products, next thing to do is get a logistics company or a dispatch rider to help you handle delivery of your shoes to the customers who want them.
5. MARKETING AND SALE
The business is online so you’ll definitely need to create social media accounts for the business and advertise through the platform. You can also use e-commerce websites or create one for your business. Ensure your prices are affordable and you encourage your customers to inform other people about your business.