About a few weeks ago, I was discussing some business ideas with my friend and co-worker, and somehow our discussion snowballed into the 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 it 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, Lagos State.
Oliver is the go-to customer that I go to to get premium leather belts for my customers. He sells both locally made belts and foreign ones and because he produces his locally made belt in the Aba market what we call Aba made belts, he was able to fill in 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 have gathered from Oliver and Mr. Paul and some little points added by me are what I want to share with you today.
And I am sure by the time you are done reading you will be able to go into this business confidently like someone who knows his guts about the underwear business in Nigeria (pants and bras, singlet and boxers). So let’s dive into it right away.
Is Boxers Business Profitable?
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 are 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, the boxers business is a profitable business in Nigeria because all medium-earning men and low-earning men in Nigeria wear locally made boxers. As for the question of “how many men wear boxers here in Nigeria, I will say 8 out of 10 men you see on the road are putting on boxers. Do women also wear boxers? Yes, they do, but a low percentage, and those that do mostly wear it at home to relax.
As for the last question, you will need to research this and get your answers yourself. Now that established this let’s go to the second step.
How to Start Boxers Business in Nigeria
Here are the steps to start a boxer business in Nigeria.
1. Conduct a Market Survey
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.
Here is our guide on how to conduct market research for new and old businesses. Read the guide to know how you can conduct your survey yourself.
2. Get the Required Capital
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 do not, you will need to ask for help. And by this, I mean asking for help from those you know will be willing to find 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 will be sending someone who is in the same business and knows the market to buy for you. Here is our article on how to get funding for your business in Nigeria just in case you are looking for how to get capital to start.
3. Go to Aba Market in Abia
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 of 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.
Go for one out of the two. Do want to buy from the wholesalers selling the ready-made boxers or do you want to approach the material sellers, buy from them, and get tailors in the market to sew for you? It’s up to you. Choose one.
4. Buy the Ready-made Boxers
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 will also need to buy packaging nylons and stickers but if you want to brand your boxers yourself with your name, you will 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).
5. Connect with Sellers of your Product
Depending on the number 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 have an agreement on how much you will 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 will prefer the sellers package it for me as this reduces the workload from my side.
6. Create an Online Presence for Underwear
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 for your product.
And add contact details just in case your online buyers need to get more info on what they want to buy. To gain traffic to these handles you can also promote your boxers business in this article.
Bonus Business Tip: Creating an online presence and having social proof will make Nigerians trust your product.
7. Create Accounts for the Business
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.
8. Mastering the Boxers Business
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 massive profits.
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.
9. Bonus Tips on Boxers Business
Other tips you need to know about the boxer business in Nigeria.
A. Don’t rush to Spend your Proceeds
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 – Do not 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.
B. Be Honest with your Customers
Our fathers always say a good name is better than a million of money in the bank. There is 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 not do this even when you are good to them but the chances a lower).
Be good to everyone you do business with. If your goods are not yet on the ground be all out and tell them. Be a man or woman of your word. If you owe them one thing or the other (bonuses and the like) due to contract promises, fulfill all this. Be truthful to your customers.
C. Start Customer Appreciation Day
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 about starting the 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 boxer 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 theinfoworth(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!
Image Credit To JumiaBoxers