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How to Start Weavon Business in Nigeria

Nuelson Penuel Friday, June 9, 2023 Business

 

requirements for starting weavon busines in Nigeria

Introduction

In this post, I am going to share some vital tips on how to start Weavon business in Nigeria. The post contains explanation of weavon busines, how to make profit from weavon busines, startup capital just to mention but few.

What is Weavon Business?

Weavon business, also known as the hair extension business, involves selling hair extensions or weaves that are usually made of synthetic or human hair. The hair extensions come in various styles, lengths, and colors, and customers can choose the type that fits their needs and preference. The weavon business is mostly popular among women as they always want to look their best and prefer hair extensions to complement their natural hair. The business involves sourcing the products from manufacturers or wholesalers, marketing the products, and selling them to customers for a profit. The weavon business can be lucrative when properly managed, as the demand for hair extensions in Nigeria is significant.

Types of Weavon Business

1. Wholesale Weave Business: A wholesale weave business is one that buys hair extensions in large quantities from a manufacturer and sells them to retailers or individuals at a lower price point. This type of business requires a significant initial investment and the ability to store and manage inventory. Some wholesale weave businesses also offer custom packaging or labeling options for their products. 2. Retail Weave Business: A retail weave business involves selling hair extensions directly to customers either through a physical store or an online platform. This type of business requires a strong understanding of the market demand for different types of hair extensions, as well as the ability to market and promote the products effectively. A retail weave business can be started in a small scale, making it a great option for entrepreneurs who want to start small and build up their business over time. 3. Production Weave Business: A production weave business involves manufacturing hair extensions directly. A business owner can choose to use real hair or synthetic fibers to produce different types of weaves. A production business requires a significant investment in equipment, raw materials, and skilled labor. The quality of the hair, the texture, color, and overall aesthetics of the final product, make a huge difference in determining the success of the business. 4. Custom Weave Business: A custom weave business involves creating hair extensions tailored to the specific needs of clients. This type of business can involve working with clients to design their weave, whether it's a custom texture, color, length, or thickness. This type of business requires a high level of expertise and skill in order to create a final product that meets the client's expectations. A custom weave business can be quite profitable as clients are willing to pay more for personalized and tailored hair extensions. 5. Installation Weave Business: An installation weave business specializes in installing hair extensions for clients. This type of business can operate within a salon or as a mobile business. Business owners in this category need to have a high-level skillset in order to install and create styles based on the clients' needs. They must keep up with the latest trends and styles to keep clients satisfied, and the business successful. 6. Maintenance Weave Business: A maintenance weave business involves providing services like washing, styling, and repairing hair extensions. This type of business is essential to the longevity of a client's weave. Being able to provide this service to clients can keep them coming back for more business while establishing a loyal clientele. 7. Training Weave Business: A training weave business provides courses and training on how to install, maintain, and style weave hair extensions. Business owners in this category typically operate as independent trainers or within a larger specialized institution. This type of business requires extensive experience in hair extension installation and styling techniques, as well as the ability to effectively convey and teach the skills to others. This business type is great for an experienced professional who holds certified hair extensions installation training and would like to help other stylists become professionals.

Advantages of Weavon Business in Nigeria

Some advantages of weavon busines in Nigeria are: Advantages of Weavon Business in Nigeria: 1. High Demand: The demand for weavons in Nigeria is high, especially among women. This creates opportunities for entrepreneurs who want to invest in the business. 2. Various Styles: There are numerous styles of weavons to choose from, ranging from straight, curly, wavy to braids. This variety increases your chances of attracting more customers, particularly if you provide a range of styles. 3. High Profitability: Weavon business is profitable, particularly when you offer quality weavons. This is because some weavons can be costly, and if you sell them at a higher price, you can make a substantial profit. 4. Flexibility: Weavon business is flexible, and you can operate it from home or open a physical store. This flexibility allows you to save on operational costs as you can manage the business from home until you can afford a physical store. 5. Easy to Learn: You don't require any formal education or certification to start a weavon business. The skills can be learned through apprenticeship or training, making it easy for anyone to start. 6. Job Creation: Weavon business creates employment opportunities, and you can hire staff to assist you as the business grows.

Disadvantages of Weavon Business in Nigeria

The following are some of the disadvantages of Weavon Business in Nigeria: 1. High Competition: The hair extension market in Nigeria is highly competitive, with many established players, making it challenging to carve a niche for yourself. 2. Capital Intensive: Starting a weavon business requires significant capital investment to purchase stock, rent a store, and pay for utilities. This can be challenging, especially for start-ups. 3. Customer Preferences: Customers may have different preferences for weavon styles, making it challenging to keep up with the latest trends and meet customer demands. 4. Seasonal Demand: The demand for weavons in Nigeria can be seasonal, with peak demand periods being during holiday periods when people want to look good. 5. Counterfeit Products: The market is flooded with counterfeit products that mimic the original brands, and this can lead to reputation damage if your clients purchase from you and realize they've been sold fake products. 6. Unforeseen Costs: There may be unforeseen costs involved in running a weavon business, such as equipment or maintenance costs, that can significantly affect your profit margins.

What are Equipment Required for Weavon Business?

To start a successful weavon business, you need to invest in several equipment and supplies that are necessary for the process. Below are the detailed equipment you will need: 1. Hair Weavons: Weavon is the primary material for your business, and it is essential to have a stock of quality weavon in different styles, lengths, and colors. You may choose to specialize in specific types, such as human hair weavons, synthetic weavons, or lace frontals. 2. Mannequin Heads: A mannequin head is necessary to display your weavons to customers. It will also assist you in demonstrating techniques, experimenting with new styles, and showcasing your skills. 3. Hair Dryer: A hairdryer is essential in the process of weaving hair. You will need it to dry clippings after washing, set curls, straighten hair, and create different styles. 4. Hair Straighteners or Curling Irons: These tools are necessary for styling hair or weavons, straightening, or curling hair extensions. You should invest in high-quality irons to avoid hair damage and provide excellent results. 5. Combs and Brushes: You will require different types of combs and brushes to style and maintain weavons. These include wide-toothed combs for detangling, brushes for smoothing, and small combs for detailing. 6. Clips and Pins: These are essential for holding hair in place while you work on it, ideally, large clips and pins for long hair and small ones for shorter hair. 7. Scissors: You require professional scissors to cut and trim hair extensions and weavons. These should be sharp, precise, and durable. 8. Sprays and Conditioners: You will need a range of sprays and conditioners to keep hair smooth, shiny, and moisturized. These include detangling sprays, hair oils, and heat protectant sprays. 9. Wash Basin: You will need a washbasin for washing hair before weaving. You should use warm water, mild shampoo, and a towel to dry hair. 10. Chairs and Mirrors: A comfortable chair and good lighting are necessary for your workspace. You should also have a mirror in front of the chair to help customers see the result of the weavon.

What is the Startup Capital for Weavon Business

The startup capital for a weavon business in Nigeria will vary based on the type and scale of the business. Here are some general estimates for the various types of weavon businesses in Nigeria: 1. Wholesale Weave Business: To start a wholesale weavon business in Nigeria, you will need a capital ranging from NGN 500,000 to NGN 5,000,000. This amount will cover purchasing hair extensions in bulk from manufacturers, setting up a warehouse for inventory, and marketing expenses. 2. Retail Weave Business: Starting a small retail weavon business in Nigeria would require a startup capital of about NGN 100,000 to NGN 500,000. This budget will cover basic inventory, setting up an online store or physical shop, and marketing expenses. 3. Production Weave Business: Starting a hair extension manufacturing business in Nigeria requires a significant investment in equipment, raw materials, and skilled labor. A startup capital ranging from NGN 2,000,000 to NGN 10,000,000 or more may be needed, depending on the size of the production line and marketing strategy. 4. Custom Weave Business: Starting a custom weave business in Nigeria may require a startup capital of NGN 50,000 to NGN 500,000. This amount will cover basic inventory, a website or social media handles, product development, and marketing expenses. 5. Installation Weave Business: Starting an installation weave business in Nigeria requires an initial investment ranging from NGN 50,000 to NGN 500,000 depending on the scale of operations. This budget will cover hair extension types, equipment, and marketing expenses. 6. Maintenance Weave Business: Starting a maintenance weave business in Nigeria would require an initial capital ranging from NGN 20,000 to NGN 100,000. This amount will cover basic supplies, a website or social media handles, and marketing expenses. 7. Training Weave Business: Starting a training weave business in Nigeria requires a capital ranging from NGN 100,000 to NGN 500,000. This amount will cover renting a training space, hiring experienced trainers, producing training materials, and promoting the business to potential clients.

How Lucrative is Weavon Business in Nigeria

The weavon business can be very lucrative in Nigeria due to the high demand for hair extensions in the country. Weavons, also referred to as hair extensions or wig, have become an essential part of the beauty routine for many Nigerian women, both young and old. With the Nigerian beauty industry estimated to be worth over $4 billion, it is clear that the weavon business can be highly profitable. The profitability of the weavon business in Nigeria is based on various factors such as: 1. High Demand: There is a high demand for weavons in Nigeria as many women love to enhance their beauty and style with hair extensions. This means that weavon businesses are likely to attract a lot of customers and generate good revenue. 2. Versatility: The versatility of weavons makes them popular among Nigerian women. They can be styled in various ways, making it possible for women to achieve different hairdos with ease. 3. High Cost: Quality weavons can be quite expensive in Nigeria, especially for those that are human hair. This means that weavon businesses can generate a lot of revenue as customers are willing to pay a premium price for high-quality weavons. 4. Repeat Customers: Customers who are satisfied with their weavon purchase are likely to become repeat customers. This means that weavon businesses have the potential to generate a lot of income from loyal customers. Overall, the weavon business in Nigeria can be very lucrative, especially for entrepreneurs who can identify and cater to the needs of their customers. Successful businesses in this industry emphasize quality, variety, and excellent customer service in order to build a loyal customer base and increase profits.

Guidelines for Starting Weavon Selling Business in Nigeria

Starting a Weavon Selling business in Nigeria can be a profitable venture. Here are the detailed steps you can follow: 1. Conduct Market Research Before starting a weavon selling business, conduct market research to evaluate the demand for weavons in your target market, including what styles, colors, and types of weavons are popular. Analyze your competitors and identify new target markets. This research will help you understand the needs and preferences of customers, which will help you make informed business decisions. 2. Create a Business Plan Develop a comprehensive business plan that outlines your goals, target market, marketing plan, financial projections, and other operational details. It should also include information about your capital requirements, necessary permits and licenses, and supplier sources. A business plan will help you identify potential risks and opportunities, set realistic goals, and create strategies for achieving your objectives. 3. Register Your Business Register your weavon selling business with the Corporate Affairs Commission (CAC) in Nigeria. Decide on a unique name for your business and get all necessary permits and licenses to operate legally. 4. Source Your Products Find reliable suppliers who can provide you with quality weavons at a reasonable price. Contact wholesalers or manufacturers to buy in bulk to lower your costs. You may also consider importing high-quality weavons from other countries. 5. Set Up Your Store Rent or lease a storefront or rent a kiosk in a busy market or commercial area. Decent space and location will attract potential customers. Outfit your store or kiosk with attractive displays and signage that showcase your weavons. 6. Launch Your Business Market your business using social media, posters, fliers, and direct marketing. Offer discounts and promotions to get the attention of new customers and retain repeat customers. 7. Manage Your Inventory Keep track of your stock level to avoid running out of stock for popular weavons. Keep up with trends and always have the latest styles and colors in stock. Reorder products in a timely manner to prevent long queues. 8. Provide Excellent Customer Service Provide excellent customer service by treating your customers respectfully. Be attentive to their requests, complaints or feedback. As time goes on, loyalty will breed more registrations and promote your business 9. Evaluate Your Performance Regularly review your business performance metrics to identify areas that need improvement and make necessary adjustments. Consider learning from your competitor's strengths and weaknesses to deliver better service.

How to Make Profit from Weavon Business in Nigeria

To make a profit from the weavon business in Nigeria, there are things you can do as an entrepreneur to increase your sales and keep customers returning to your store. Here are some suggestions: 1. Offer a Wide Range of Weavons: Be sure to have a diverse range of weavons available for your customers. Different customers have different preferences, and you want to be able to cater to everyone. Offer various options regarding lengths, colors, quality, styles, and types of weavon. 2. Quality Products: Customers are seeking for quality weavons, and they will not hesitate to pay a premium price for it. Ensure that the weavon you sell is of good quality and durable. Selling poor quality weavons can ruin your reputation, decrease customer loyalty, and likelihood of referrals. 3. Competitive Pricing: You need to sell at the competitive price level to attract and keep customers. Before setting your prices, do an inquiry on the cost of weavons, including delivery cost, and ensure you fix the price reasonably. 4. Excellent Customer Service: Provide exceptional customer service to encourage customers to return and refer others to your store. Train your employees to be knowledgeable and helpful, and build relationships with clients so that they feel appreciated and valued. 5. Advertise: Utilize social media platforms to showcase your range of weavons and to showcase when you receive a new stock. Make use of Sponsored Ads to ensure your brand is visible to the most significant number of people and target the right audience. 6. Create Promotions and Discounts: Offer promotions and discounts periodically to encourage people to visit your store and keep them coming back. For example, you can create a "buy two, get one free" promotion.

Conclusion

In conclusion, starting a weavon selling business can be a lucrative opportunity in Nigeria. By following the steps above, you will be on your way to running a successful business that offers value to customers and a healthy return on investment. In addition, weavon business is a profitable venture in Nigeria with a high demand for weavons. If you invest in quality weavons, provide exceptional customer service, and learn essential business skills, you can build a successful business and create job opportunities. However, starting a weavon business in Nigeria can be a challenging venture with issues such as high competition, capital-intensive start-up costs, seasonal demand, counterfeits, customer preferences, and unforeseen costs.

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