Looking for a resource or guide on “How to Start a shoemaking business In Nigeria”?
This article comes with a free business plan outline for the Footwear shoe production business in Nigeria
Mark Twain said “the shoes make a man”, also studies have shown that most people tend to look at your feet first before any other part of your body, so you see why everybody loves shoes and always want their feet to look good, asides from that you can tell you have a boost of confidence when you are in the right kicks.
Making footwear for the purpose of sales is a lucrative business that ensures a sustainable income. Everybody wears shoes, everyone likes them and this want, when capitalized on, can make you lots of profit and this article will brief you on the steps to take to give it a go!
HOW TO START A SHOEMAKING BUSINESS NOW
- Choose a name for your footwear business
With a lot of competition, there are a lot of shoemakers out there local and international; a name is the first step to ensure your distinctiveness as being different, outstanding and unique is very important to you making profit, in saturated markets these features guarantee reeling customers in, even before they see the quality of the product you offer, a name is very important.
2. Carry out market research
Now get in the field, look around you (that will be wherever your business will be situated) what catches people’s eye when it comes to soles and leather, what suits people’s need, there will be a lot of data so you have to tailor your target market to the type of service you will be providing and quality you can offer. Identify your potential customers’ demographics, maybe your shoe brand will fit for only men, only women, both, or children as well.
Write your business plan describing what types of shoes you will sell, your sales venue, how you will market your business, how you will execute orders, and the legal form of your business, such as partnership, sole proprietorship, or corporation. Include a list of costs of merchandise, projected revenues, marketing costs, and operating costs. Take your business plan to banks and potential investors to gather enough funds to get your business started comfortably. You can also source for funds from family and friends.
Also, choose a competitive advantage. You can do this in three key areas, such as in quality, pricing, and service. Ensure that in these three key areas, you have an edge over your competition. Another competitive strategy is to ensure that your customers stay excited by making every new feature or product you introduce innovatively. This gives your customers something to talk about, whilst shutting out the competitors.
3. Find a shoe designer
Everyone with the skill is not guaranteed to make the money and vice versa, if you lack the skill of making shoes you can hire good shoe designers and have them make you the designs you wish to market under the umbrella of your brand. Also note that your products should have common features like; easy fit, trendy, and classy amongst others. Have these characteristics become the standard operating features of your brand that will make it easily recognizable by buyers.
4. Create a logo
As stated earlier in this article, uniqueness and distinctiveness ensures customers and making a logo for your business can help establish that too. After all, it is part of the identity of your business and a business with an identity is received well by customers than one that doesn’t.
5. Choose your prices
Choose prices that resonate with your brand. Do you want to sell budget-friendly or expensive shoes? Factor in the cost of production and advertising.
Run paid ads on Instagram, Facebook, and Twitter to promote your business to potential customers. Open social media accounts for your brand, visibility is key, get influencers to talk about your brand, get them to market for you. Social media is enough leverage when it comes to advertising, use it to the maximum.
Now that you know how to start a shoemaking Business in Nigeria, you can get this business plan here.
How To Download Shoe Production Business Plan Template
Above is a part of the shoe production business plan template in Nigeria. If you want the complete shoe making business plan with the full financial plan, calculations, and more, follow the procedures to download it.
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the shoe production business plan template in Nigeria to your email address where you can easily download it FOR how to start a shoemaking Business in Nigeria.