Weavon business, over the years, has gained prominence in Nigeria. The competition is tough as there are numerous weavon dealers in town. Nevertheless, the business is thriving as weavon users are increasing.
However, it is necessary to know the right steps to start a weavon business in Nigeria in order to last in the business and also make profits.
Weavon Business In Nigeria
The demand for weavons in Nigeria is high as plenty of women prefer fixing weavon to braiding their hair.
Braiding takes a longer time but weavon does not take time to be attached to the hair. Moreover, people use weavon to make different wig styles.
Weavon business is a very lucrative business that you cannot venture into and regret.
Weavons are like clothes, every day, the hair industry releases different weavon styles, textures, and colors to entice women and make them abandon the old ones to buy the new ones.
The good thing about weavon business is that it can be ventured into by any gender.
To successfully launch your weavon business, you must read these steps on how to start a weavon business to get started.
Cost Of Starting A Weave-On Business In Nigeria
The cost of starting a weave-on business depends on the type of weave-on you want to sell.
If you want to deal in human hair weavons, you will need a substantial amount of capital to start, because human hairs are expensive.
Meanwhile, If you want to deal in synthetic hair, you need a moderate amount to start.
Moreover, your startup capital will encompass your shop rent, showcase, and other necessary things needed in a weavon shop
Steps To Start Weavon Business In Nigeria
Below are the steps on how to start a weavon business in Nigeria.
1. Know the type of weavon you want to sell
This is the first step to take when planning to start your weavon business. Knowing the hair extensions you want to start selling will help you plan your budget and draft your business plan.
Moreover, two kinds of weavons are sold in Nigeria which is synthetic hair and human hair.
Human hair is original hair that is got from countries like Brazil, India, Peruvian.
Human hairs are expensive but they are in high demand in Nigeria. Human hairs are soft, smooth, and last longer than synthetic hair.
It has the ability to be curled, colored, and even straightened to different styles.
The types of human hair are Peruvian hair, Indian hair, Malaysian hair, Eurasian hair, and Brazilian hair, bone straight hair, etc.
Meanwhile, synthetic hairs are artificial hairs manufactured from plastic fiber.
They are commonly made from kanekalon or toyokalon fibers. Kanekalon is a light, long-lasting synthetic fiber that withstands repeated washings and low-temperature heat styling.
Synthetic hair is cheaper than human hair and comes already styled and colored. Synthetic hair comes in different sizes, lengths, colors, textures, etc.
2. Carry out Market Research
There are many human and synthetic hair brands in Nigeria. It is necessary to carry out market research to know what people go for.
Market research will aid in your marketing strategy and provide insight and key information about the weavon business.
Carrying out market research will provide a deeper understanding of your customer and your competitors.
3. Market Research Methods
The following are the market research methods
- Focus groups
- Social Media listening
- Experiment and field trials
- Competitive analysis
- Public domain data
- Buy research
- Analyze sales data
In choosing a market research method, you will need to consider what you want to achieve in the course of the research, what data you will need, the advantages and disadvantages of the method, the cost of conducting the research, and the cost of analyzing the results.
Moreover, not all market research methods are right for your business, so choose the one that is right for your business, and implement it.
4. Choose A Business Name
To make people identify with your weavon business, you must choose a business name for your business.
Your business name must be short and succinct, and it must convey your business information.
Avoid hard-to-spell names. Don’t choose a name that can limit your business growth.
Moreover, your business name is very important to you and your business in the following ways
- it helps build customers trust
- It allows customers to easily talk about your business to other potential customers.
- It makes your business authentic
- You will need your business name on your business cards.
- You will need your business name on all advertising and marketing materials
- You will need your business name when you want to apply for a loan
- You will need it on the domain name for your business blog or website
- You will need it for all contracts and agreement
5. Register Your Business Name
It is important to get your business registered with the corporate affairs commission, so your business can be legally recognized.
Also, in registering your business name, you maintain your reputation as a legitimate business owner, build trust among your clients and suppliers, fully market your brand and business everywhere, and have the opportunity to do business with large companies. Learn how to register your business name in Nigeria.
6. Write Your Business Plan
After registering your business name, it is necessary to draft your business plan to know where you are headed. Your business plan is your business map, It tells you the direction to go.
Your business plan must contain the followings
- Executive summary of your business
- Company’s description
- Products and services
- Market analysis
- Business strategies
- Organization and management team
- Financial plans and projection.
Why You Need A Business Plan
- To prove that you are serious
- To better understand your competition
- To understand your customer
- To know your financial needs
- To document your revenue model
- To attract investors
- To evaluate the success of your business
- To uncover new opportunities
- To attract partners
- To focus on your effort
7. Source A Good Location
When sourcing a location for your business, you should have your target audience in mind because your location will determine the success of your business.
Your target audience should be women, men, and youths who can afford to buy your weavons.
Moreover, your location must be well known by people so you don’t lose your customers and potential customers.
Furthermore, do not situate your shop in a highly competitive area to avoid unhealthy competition because unhealthy competition can bring complicated issues that may take time to settle.
Additionally, choose a high-traffic area, busy streets, or space next to places where people visit often, such as eateries, grocery stores, churches, markets, etc.
8. Source Genuine Suppliers
As a newbie in the weavon business, you need to be careful when purchasing your weavons so you do not get scammed.
Plenty of people poses as weavon suppliers on social media just to defraud you of your money. If you are not sure of how to purchase your weavon, ask those who are already in the business to guide you.
You must source suppliers who are not dealing in fake weavons, make sure your suppliers are genuine before you hand them your money.
9. Publicize Your Business
It is one thing to own a business, and it is another thing to make it known to people.
For your business to gain prominence and start making profits, you must radically publicize it.
Nobody can market your business as you do. Talk about your business at all times to people, and when people see the seriousness in you, they will start purchasing your weavons.
Do not only market your weavons to women, but also market them to men so they can buy them for the females in their life.
You can also publicize your business online to gain a wider audience. You can run Facebook or Instagram ads to connect with your target audience fast.
When advertising your weavon on social media, make sure you take clear and attractive photos of the weavons to attract people.
Additionally, you can also market your weavon on online marketplaces like Jumia, konga, Olist, Jiji, etc.
10. Own A Business Card
As an entrepreneur, it is important to own a business card. Having a business card will make people view you in a different dimension.
Moreover, Business cards communicate your business to people you couldn’t talk to.
And as your business cards move from hand to hand, they market your business for you.
11. Have A Good Relationship With Your Customers
The secret to a successful business is to have a good relationship with your customers.
The way you treat your customers will determine the growth of your business because customers are the backbone of every business, and without them, you are bound to fail in your business.
Businesses cannot thrive without patronage, so make your customers feel valued and appreciated every time they buy from you.
Always reach out to them by collecting their contact information and sending them updates on current products/services, or any special offer you have for them.
12. Create A weavon Blog Or Website
To make sales, and keep your customers engaged, you need a weave-on website where you can display the different types of weavon you are selling.
Grow your website with weavon related content, and communicate like a professional in the weavon business.
This will make people trust you and want to do business with you.
13. Be Current
To be different from other weavon dealers, you have to know the trending weavons before the market gets saturated with them.
When you are current, you will purchase the latest weavons to meet your customers’ needs.
14. Be Consistent In Your Weavon Business
A newly established business might not gain prominence at the moment, it can take time before you are known. Do not allow the lack of patronage at the initial stage of your business to stop you from being consistent and prayerful.
Consistency is the key to a successful business, keep pushing, keep publicizing, one day your effort will pay off.
Weavon business is a very profitable business. Therefore an investment in a weavon business is a worthwhile investment.