This article is about how to start hair extension business in Nigeria currently in this year 2023. If you have the passion for fashion, especially when it comes to hair attachments and weavons in the beauty industry, you should consider taking hair business seriously and setting up a hair extension enterprise. As you are well aware, in Nigeria today, there is a high demand for hair extensions among many ladies, and these hair extensions whether they be human hair, bone straight hair or any other type of extension, cost good money and they are really classy, so this business is very lucrative and the beautiful thing about it is that you can start small and grow to become a reference point in it with time, and we will show you how.
Most women nowadays go to great lengths to look nice and are willing to spend a premium to do so. Hair is one of the symbols of a woman’s beauty. Women make their hair with various types of hair extensions almost every week to appear really nice and be the centre of attention. As earlier mentioned, you can start small in this business from the comfort of your home without having to rent a shop, and your customers will still be able to contact you on your mobile phone if the need arises. As a result, the business is straightforward and cost effective, but with time, as you start making serious money, you can expand your hair extension business by getting a shop where.
VARIOUS TYPES OF HAIR EXTENSION IN NIGERIA
There are different types of hair extensions available in Nigeria today such as the synthetic, human hair, European hair, Brazilian hair, Peruvian hair, Indian hair, Xpression attachments, wigs, amigos attachments, Lush hair, to mention but a few. They are all available in a variety of sizes (also known as inches), colours, brands, as well as a range of pricing.
Before you start your hair extension business in Nigeria, you must first learn about the many types of hair extensions available on the market. Depending on their target market, some people may opt to sell solely human hair, while others may prefer to sell all hair extension products. Because people’s preferences vary, it is a good idea to sell a variety of hair extensions. Being known for a variety of brands allows you to attract more satisfied customers who will make sure that your business is promoted by spreading the news to other people.
If you are selling hair extension at a store, you will need to buy the necessary equipment required to keep the store running. You can as well advertise your business through social media, alerting friends and family about your goods via word of mouth, or exhibiting your product at trade fair events. As a hair extension business owner, your appearance matters a lot as it will encourage people to patronise you once they see you appearing in your own products that you sell.
HOW MUCH IS NEEDED TO START A HAIR EXTENSION BUSINESS IN NIGERIA?
It costs you nothing to start a hair extension business from home, except your capital which may be between ₦300,000 – ₦500,000 if you’re starting small but if you want start by renting a shop, you can budget for a space of about ₦150,000 depending on your location, after which you can proceed to budget around ₦600,000 for your hair extension products, depending on what you want to sell. You are sure to get really good profits every month if you take your hair extension business really seriously.
STEP BY STEP PROCESSES ON HOW TO START A HAIR EXTENSION BUSINESS IN NIGERIA 2023
The following is a step by step guide on how to start hair extension business in Nigeria this 2023:
Because there are so many different kinds of hair extensions in the market, you will need to know their names, measurements, and where the are manufactured due to the fact that various customers will be asking for different hair brands when you eventually start your business. A new hair extension product may enter the market that your customers are unaware of, and you can inform them about it. This will convey to your consumers that you are very knowledgeable in this business and up to date in the industry.
PREPARE A FEASIBILITY STUDY OF THE BUSINESS
Write a detailed feasibility study about your hair extension business in Nigeria detailing how you intend going about succeeding in the business. Consider how you can compete with the established players in this industry. Know how much money you will need to get started and project your returns on investment in a year. Find out where you can source for your products, whether through manufacturers or wholesalers, so you can get them at a reasonable and inexpensive price.
MAKE AVAILABLE YOUR CAPITAL FOR YOUR HAIR EXTENSION BUSINESS
When you spend about half a million Naira on various forms of hair extensions that drive people to the market, such as human hair, lace wigs, to mention but a few, you will make a profit. Your investment has a probability of returning about ₦300,000 to you.
STOCK UP ON RELATED HAIR EXTENSION ITEMS
Thread for weavon, needle, weavon glue, weavon oil, relaxers, and all forms of hair care and anti-dandruff for hair are some of the other related items used to produce hair. This not only attracts customers, but it also draws salon owners to patronise you for some of your products that they too will be needing in their shops.
OFFER A REASONABLE PRICE
Keep in mind that there are other rivals in this field. Make certain that your price is both reasonable and competitive. As a beginner, your focus shouldn’t solely be on generating a lot of money; instead, you should focus on gaining new customers. Providing them with high quality products at reasonable prices can help you win customers and keep them for a long time.
PURCHASE YOUR GOODS DIRECTLY FROM THE MANUFACTURER
If you do not have the financial means to import directly from China, local producers may be a viable option; you can buy your hair extension products from local manufacturers at a reasonable price while still being confident in their quality.
ATTRACT YOUR PROSPECTIVE CLIENTS
While having a decent price can help you attract more clients, adding rewards on things purchased will make them loyal. Depending on the quantity of things purchased, this can be given as a gift. You can launch a sales promotion from time to time. Your customers want to be convinced that you are different from other vendors. Make an effort to distinguish yourself by treating them as if they are royalty and they will be loyal to you going forward.