About a few weeks ago, I was discussing some business ideas my friend and co-worker and somehow our discussion snowballed into boxers business in Nigeria.
According to my friend Mr Paul, this business is very easy to start with about 50k and can yield massive returns.
Trying to know more about this business, I decided to ask more questions especially the “how to” and he was able to share all with me (without asking for anything in return).
Asides from the information I got from him, I was also able to gather more information from those in the game (the business of buying and selling) “Oliver” the name he is popularly called in Eko market.
Oliver is my go-to customer that I go to to get premium leather belts for my customers. He sells both locally made belts and the foreign ones and because he produces his locally made belt in Aba market what we call Aba made belts, he was able to fill all the missing points and links I couldn’t gather from Mr. Paul.
This is very important because it is always said that “information is key” in any business you want to start especially here in Nigeria and I couldn’t agree less.
All the information I’ve gathered from Oliver and Mr. Paul and some little points added by me are what I want to share with you today. And I’m sure by the time you’re done reading you’ll be able to go into this business confidently like someone who knows his guts about underwear business in Nigeria.
So let’s dive into it right away.
How to Start Boxer Business in Nigeria
Step 1: Find out if there’s a market in need of your product – Market Survey (Suggested by me)
We are using this point as our first step because it is very important to find out if what you’re producing is really needed by consumers.
Not following this step through can be detrimental to you and your business because at the end of the day if what you produced is not needed by Nigerian consumers, all your efforts and capital are wasted from the start.
These are the questions I carved out during my own survey
How lucrative is boxers business in Nigeria? If this is,
How many men wear boxers every day?
Do women also wear? If they do, how many women also wear boxers?
At the market, do underwear shops (boutiques and clothing outlets) sell well?
These are the questions you should ask if you’re really passionate about this business and want to start making millions soon.
To get you the answers to these questions, these are my personal answers.
Yes, boxers business is profitable in Nigeria because all medium earning men and low earning men in Nigeria wear locally made boxers.
As for the question on “how many men wear boxers here in Nigeria, I’ll say 8 out of 10 men you see on the road are putting on boxers.
Do women also wear boxers? Yes, they do, but low percentage and those that do mostly wear it at home to relax.
As for the last question, you’ll need to research this and get your answers yourself.
Now that established this let’s go to the second step.
Step 2: Look for Capital (Suggested by Oliver)
According to Oliver here, capital is the most important of the business because without it you cannot even start – so, source your capital. This should start from at least 50k if you want to really make massive returns.
If you have this money in your account you’re good to go but if you don’t, you’ll need to ask for help and by this, I mean asking for help from those you know will be willing found your business.
After getting that sorted out, it’s time to know if you’ll be going to Aba to buy the boxers yourself or you’ll be sending someone who is in the same business and knows the market to buy for you.
Step 3: Go to Aba Market yourself (Suggested by Mr Paul)
You see there’s a difference between sending a trusted person or stranger to buy something for you and you going there to experience things for yourself.
The advantage over this cannot be overlooked.
There are so many things that will be open to you like – how a business operates there and making customer friends.
Step 4: Still in Aba market (Suggested by Oliver)
Go for one out of the two. Do want to buy from the wholesalers selling the ready-made boxers or you want to approach the material sellers, by from them and get tailors in the market to sew for you.
It’s up to you. Choose one.
Step 5: Buy the Ready–made ones (Suggested by Oliver)
Although Mr. Paul suggested that anyone going into this business should buy the material and sew by himself. Oliver suggested that you should buy the ready-made ones as this saves time and energy.
But however, the quality of the ready-made boxers you buy determines the quantity that will be sold to you. You’ll also need to buy packaging nylons and sticker but if you want to brand your boxers yourself with your name, you’ll need to give a design to the printers and bargain.
Bonus Business Tip: Making your own sticker with your name and contact numbers will make it easy for your customers to contact you when they want more boxers (more products).
Step 5: Start connecting with sellers of your product (Suggested by Oliver)
Depending on the amount of boxers you bought; you can be having about 2,000 pieces to 5,000 pieces and we all know this will not be easy for you to sell so the best thing you can do (in order to sell stock on time) is to approach sellers of your product (boutiques and clothing outlets) and a have an agreement on how much you’ll be selling to them (so that they can also make their profit).
After having T and C’s (Terms and Conditions) with these customers, it’s time to start packaging.
Depending on the agreement; you can decide to package the boxers yourself or leave the packaging to your sellers. Anything goes but I’ll prefer the sellers package it for me as this reduces the workload from my side.
Step 6: Create an online presence for your product (Suggested by Me)
It is always said – No matter how popular your product is; it is still at a disadvantage if it does have an online presence.
So at this stage, it is important to create an account or page on facebook, twitter, and Instagram from your product and also add contact details just in case your online buyers need to get more info on what they want to buy.
Bonus Business Tip: Creating an online presence and having social proof will make Nigerians trust your product.
Step 7: Create accounts for your business (Suggested by Me)
The insane thing about business is that you can be making a profit and say you’re making a loss and you can also be at a loss and not know.
So creating accounts for your business will not only help you monitor your business but also open your eyes to the loopholes.
These accounts will tell you how much you have spent so far? What you have sold, what you have in stock and how much you have made.
Step 8: Master the business (Suggested by Paul)
There are always mistakes in starting any kind of business for the first time, but at times going by you can be able to avoid these mistakes because you have mastered the art of the business.
At this stage, you’ll have started making you massive profit but you still need more knowledge so Mr Paul advises that you meet and connect with others in the business, this for you to have more knowledge of the business and be able to get any help when you need it.
Bonus Business Tips:
Don’t be in a hurry to start spending the proceeds of your Business
I shared this earlier when I wrote the article – start a business with almost zero capital but I think I still need to reiterate it here again – Don’t be in a hurry to spend the proceeds of your boxers business.
My advice here is to imitate what Dangote does and that is reinvesting the profits made into the business to expand the business.
Be honest with your Customers and Retailers
Our fathers always say a good name is better than a million of money in the bank. There’s a reason why they hold this saying close to their heart.
Your sellers and mostly your customers can run your business to the ground in one day over your poor attitude to them (not that they can’t do this even when you’re good to them but the chances a lower).
Be good to everyone you do business with. If your goods are not yet on ground be all out and tell them. Be a man of your words. If you owe them one thing or the other (bonuses and the likes) due to contract promises, fulfil all this.
Be truthful to your customers.
Have Customer Appreciation day once in a while
You might think this is only banks and corporate institutions but this is not true. You also need to imbibe this into the business.
Have a day to celebrate everyone who impacts your business in one way or the other (from your retailers to your customer). This will make them feel important.
That’s all on starting undies business in Nigeria. Please drop your questions if you have any on what I’ve shared so far.
I will be willing to answer these questions as they drop. So help me! I promise!
Update: Are you a boxers manufacturing company here in Lagos, Nigeria? You have built a brand for yourself. You don’t disappoint customers based on demands.
Please send me a mail at raphaelbamigboye(a)gmail.com so i can direct my readers who want to go into the business without going to Aba. Let us also know if you also do delivery.
Thanks in advance!
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Image Credit To JumiaBoxers