Handbags cannot be separated from Nigerian women. It is like the extension of their hands. Asides from them using it to keep all their every day needs items they also use it for fashion – to look beautiful. It is often said by most Nigerian women that an outfit is not complete without a bag and this is very true. Today, we will be talking about how to start a handbag business in Nigeria.
How to start a handbag business from scratch with or without any experience and make profits from the business. It is often said that you don’t need to go to the 4 walls of a school to learn how to start a business. Well, this is true but it does not mean you do not need to learn about any business you want to start by any means.
These means could be through reading business blogs, watching business-related videos on YouTube, or listening to podcasts on business. This will go a long way for you and will take you further than anyone in the same business with you out of ignorance. We are into these 3 mediums to share business information. It is one of the purposes of the blog – to share hands-on information on how you can start almost any business in Nigeria.
Enough said! So why the luxury purse business? Is the handbag business lucrative? Is it even profitable to start with?
Is Handbag Business Profitable?
Yes, the handbag business is a profitable business in Nigeria and there are so many factors that prove this. One of the reasons why it is a profitable business in Nigeria is that it is a business under the fashion industry (fashion business) and any business under the fashion business is a lucrative business. Nigerians are fashionable people. They cannot do without looking good and this is no exception when it comes to bags.
Even today’s men now carry bags as part of their fashion accessories. If they are not carrying it as a backpack they are carrying it as a handbag. In the men’s handbag, you will mostly find a laptop, documents, and other necessary day-to-day items that are very important. Another reason why the handbag business is a profitable business in Nigeria is that all Nigerian women carry a handbag.
There are no Nigerian women of today that are going to owanbe or the office that goes without a bag. With this fact, it is well evident to say that all Nigerian women, ladies, and girls use handbags thus making the bag business or bag rental business a lucrative business in Nigeria.
Common Handbags Sold in Nigeria
There are different types of handbags in Nigeria. These are the most common bags used by Nigerian women. In no particular order, we have:
A. Locally Made Handbags
These are handbags locally made in Nigeria by Nigerians. These bags could be made by any handbag-making company in Nigeria or by anyone who has the right equipment to make it. These kinds of bags could be expensive or cheap it all depends on the brand and the kind of leather and other materials used in making them.
B. Handmade Handbags
Handmade leather bags in Nigeria are bags made by hand not necessarily a machine. These kinds of bags could be vintage bags or beautiful bags because their makers usually pay attention to details while making them. Handmade Leather bags could be expensive it could also be cheap. It depends on the brand and the kind of materials (leather) used in making them.
How to Start Handbag Business in Nigeria
How do you start a handbag business in Nigeria? Here is the step-by-step process.
1. Choose Handbag Business
Yes, the first step to actually start a handbag business in Nigeria is to actually choose the kind of handbag business you want to go into. Remember, I said earlier that we have 2 major types of handbag business in Nigeria – the locally-produced ones and the imported ones. You really have to decide which kind of handbag business you want to go into.
But if you ask me the truth I will say it depends on so many factors but the 2 major factors are how much you can afford as capital to start and how big you want to start. If you can decide on these 2 the other factors will be easier to sort out.
2. Get the Capital Needed
After deciding on the kind of bag business you want to go into the second step will now be for you to get the capital you will need to start the handbag business.
Capital Needed to Start Handbag Business
The capital needed to start a handbag business in Nigeria can range between #50,000 – #2,000,000. It depends on how much you can afford within this range. The #50,000 will guide you to start your business on a solo level while the #2,000,000 will help you start the handbag business on a large scale. As for how you can get this capital you can either save or ask for support from your family and friends. This could come as a donation or as a form of investment from them.
3. Buy Handbags Wholesale or Retail
When it is time to buy your handbags you need to really take your time. You need to get firsthand information on how you can identify quality handbags. You can go to the market to do this first. Go to any popular clothing market around you. If you are in Lagos you can go to Eko/CMS or Tejuosho market and if you are in Abia State go to Aba market.
When you get there tell the sellers or manufacturers you want to go into handbag business and you need their advice. They will be willing to answer your questions to clear any other doubts you have. If you notice that they are reluctant, you can tip them with some money and they will share freely with you.
After gathering enough information needed and you are sure of the type of handbag business you want to start you can now go ahead to buy your handbags, confirm what you have bought by checking if the handbags are in good condition then you take them to your store or shop.
4. Start Selling your Bags
Depending on where you want to sell your bags you can now start selling your bags. You can start selling to your neighbors, family, and friends, church members. You can do this before renting a shop or after renting a shop it all depends on you. Renting a shop for your handbag business is another thing you should do at this stage.
And when you are renting a shop for your handbag business make sure it is located in a place or area where people (women) can easily locate you. And make sure the shop is located in an area where thousands of Nigerians pass daily. After renting the shop, furnish it to taste by putting good show glasses there and lightning. Remember, it is not your bags that will attract your customers first it is the way your shop looks.
5. Sell your Handbags Online
Immediately you are able to put all these in place you should start working towards selling your handbags online in Nigeria. I used to tell my friends that if you are into buying and selling in Nigeria and you are not taking advantage of selling online you are missing a fortune. This is true. There are many platforms online in Nigeria where you can sell your handbags with little expense.
We have Jiji – an e-commerce platform that is free then we have Konga and Jumia. You can also advertise your handbags on all social media handles and do deliveries around Nigeria once orders are made. You do not need to see your customers and they do not need to see you before they can buy from you as long as your products are online.
6. Do Product Deliveries
I talked about delivery earlier but I just want to explain a few points more. You have to be wise when you are dealing with customers online. You don’t want to deliver your bags and they return them based on the fact that they don’t like the way it feels on their hands.
And you do not want them to return your bags after they have used them for some days on one story or the other. Protect yourself and your business from all these things.
7. Making Profits Selling Handbags
There are a few things to consider if you really want to make profits from your handbag business. You need to consider the prices you are buying your handbags. Make sure you are buying them at the lowest prices possible and selling them at good prices this will help you increase your profits in no time. You need to always write down your expenses and what you sold.
This will help you know if you’re making profits or losses. I mentioned selling your handbags online earlier. This will also increase the profits of your handbag business easily.
Handbag Business Plan
A handbag business plan is very important especially if you are planning to go into the handbag business for a long time – a span of 0 – 10 years and you are planning to invest huge capital into the business.
Writing a handbag business plan reduces the risk in your handbag business and it guides you on every step you need to take to make your handbag business lucrative and profitable. A good business plan can never fail you and can never fail your business so write one or get someone to write one for you.
Handbag Making in Nigeria
If you are interested in handbag production in Nigeria. Do you want to start your handbag business by producing your handbag yourself? You should consider learning how to make handbags first.
There are many fashion schools you can learn this in Nigeria and if you cannot afford a fashion school or you do not have time you can learn how to make bags by watching some YouTube videos on how to make bags. There are many bags you can make from your home. You can make Ankara bags, leather bags, and more.
Handbag Business Ideas in Nigeria
There are 2 major handbag business ideas in Nigeria. These are:
1. Aba Made Handbags
These are Handbags that are made in Aba market, Abia State in Nigeria. These bags are made in a professional way that sometimes you could confuse them for imported bags. Aba-made bags are manufactured based on the quality the buyer wants.
The prices of the handbags can go from #1,500 – #10,000 per piece at the retail level and could be cheaper at the wholesale level. In this kind of handbag business, you buy or order your handbags from Aba and sell them in any part of the country.
* Made in Nigeria Handbag
Made in Nigeria handbags are bags that are produced from any part or state in Nigeria by any other bag-producing company or individual. These kinds of bags may be branded or unbranded when produced. In this kind of handbag business, you buy bags from any part of the country and sell them to women.
2. Imported Handbags
Imported bags are luxury bags or purses that are not produced in Nigeria. They are imported from other countries into Nigeria. We have 2 major types of imported bags you will find in Nigeria market today. These are:
A. Designer Handbags
Designer bags are bags made by world-class designers. These bags are usually very expensive. They are mostly used by the middle class, the rich, and celebrities in Nigeria. This kind of handbag business in Nigeria is usually difficult to start because it demands high capital. In this handbag business, you will simply import designer bags and sell them to Nigerians.
B. Made in China Handbags
These are bags that are produced in China for the sole purpose of export. Made-in-China bags are produced based on what the buyers can afford. This kind of handbag business usually demands a big capital to start. It also demands a lot of attention.
Just like any other lucrative fashion business in Nigeria handbag business demands being smart and being calculative but the most important thing is you need to start first. You need to start first and take it one step at a time. The road might not be smooth in the beginning but as time goes by it will.