Hair business is super lucrative in this part of the world. This is because the typical Nigerian woman wants to look good and would spend a good part of her earnings to achieve that.
As an a hair vendor with over three years experience in selling good human hair, I can tell you for free that hair business is super profitable and even though the market seems to be saturated, sellers are smiling to the bank.
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In this article, we would explore some factors you should consider before starting hair business.
1.What type of hair do you want to sell?
This is a very important factor you must decide on. Do you want to sell synthetic hairs/ blends or original vietnamese or china human hairs. Selling synthetic hairs may be cheaper to start with smaller capital. Vietnamese or china importation is more expensive with bigger capital. So make your decision.
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2. What is your market?
By thus question, I’m asking who are your would-be customers. Are you looking at selling to young school leavers, graduates, house wives or big money spenders?. This would decide the type of hairs that you decide to sell. For example, marketing costly vietnamese bone straights to secondary school leavers or young undergraduates would be a waste of time, as they wouldn’t be able to afford the hairs.
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However, selling synthetic hairs to 9-5 workers who need good hairs for their office use, may just destroy your brand. So study your market or target audience before deciding the type of hairs to sell.
3. Dropshipping or buying stock?
This is one question you should ask yourself when starting human hair business. Will you be reposting hairs from other vendors, and wait till you get an order and resell. Or will you stock some hairs and market to your friends and families around.
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With Dropshpping it saves you cost of capital. You can start the business with zero capital. However, you would always have to reconfirm from your vendor whenever there is a demand on the hair. But when you stock, you have hairs to show around to your would-be customer, which you keep advertising till they make a buying decision,
4. Are you passionate about the business?
Hair business is one trade that will test your patience. If you are not patient, you would likely move on after a few months. You must be a hair lover to be in this business. Ask yourself “if I don’t make any sale in three months, will I continue?”. Your answer will determine your next step.
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5. Know that the business can be seasonal.
Yes hair business can be seasonal. Seasons like Christmas holidays is usually a big time for sales, because women want to look good for the holidays. This period would be the best time to restock or repost more hairs if you are a dropshipper.
If you want personal coaching to how to start your hair business. You can reach us with the information on the contacts page.
