Overview of Textile, Fabrics and Wrapper Business in Nigeria

Nigerians are really much in touch with their society and there are more than 450 ethnic groups in the nation. A few of the significant ethnic groups in Nigeria are the Yoruba, Igbo, Hausa, Fulani, Efik, Tiv, Urhobo, Okun, Ebira, Itshekiri, Ijaw, Egun ethnic groups. All these ethnic groups have a distinct way of dressing. For instance when you see an individual with a black and white attire you are most certain the person is representing the Tiv. An individual from Idoma puts on red and black attire and so on.

A textile company offers services to a number of sectors of the economy. A few of these sectors consist of entertainment, arts and culture, costume design, fashion design, and so on. Fabric is a significant component of our heritage and we use them at a number of events. Nigerians are understood to like organizing and going to events. As a matter of fact there is practically no weekend that a significant ceremony is not held. From wedding events to naming events, to birthday celebrations, house warming events, burials, and a number of various other events.

Virtually all these events need attendees to use uniform materials. This is called aso ebi. Asides this Nigerians generally like to use clothes that portray their culture frequently. It is practically a standard that on Fridays people use indigenous clothes. It is typically called traditional Friday. All these indicate that the fabric business is really profitable and extremely lucrative in Nigeria.

There are a number of tips you ought to watch out for which will increase your possibilities of flourishing and ending up being successful in the textile business. First of all if you are one that enjoys fabric and you have a desire to constantly use them then it is possible that you will succeed at the business. Secondly if you have flair for crafts using fabric like designing clothes, tailoring, quilting, to name a few, it is possible for you to succeed in this business. Finally if there is no fabric store in your area and you have discovered a significant need for this type of service then you can likewise succeed in the business. This is due to the fact that you have a tendency of introducing the business in your area and taking over the market before any other individual ventures into it.

Potentials of the Fabric Business in Nigeria

One of the major business owners in the textile industry once stated that the textile business is virtually more lucrative than any other business. He further went on to clarify that if the textile business owner have the ability to make use of particular tools at his/her disposal the amount of profit might nearly be tripled. If you can think outside the box and provide your clients what no other individual offers then you are bound to make remarkable amounts of profits. It is almost incredible that you could get a 100% return on your investment or more within an extremely brief period, say 6 months to a year depending on how you manage the business.

The amount of textile required by Nigerians on a regular basis implies shows that there is substantial profit to be made from the business. A major benefit of this business is that you could begin little and slowly expand it to become a textile empire. It nevertheless needs great deals of resilience, resolution and determination.

Steps to Starting a Fabric Business in Nigeria

The followings are the steps to take when starting a Fabric Business in Nigeria

1. Survey The Market Skills and relevant knowledge about textile or fabric business are required before you ventured into it. You are therefore required to find out the type of fabric materials that are of high demand in your locality. This will help you to make your business grow faster because you are supplying what is in vogue in your locality. You will get more customers as well. Get to know where you can easily buy your products in large quantity. This will also help your business venture in a number of ways.
2. Know The Various Fabrics Your ability to know about the various types of fabric, and which ones you can make gain from, considering their prices, the demand for them, and your location. The following are some of the popular fabrics we have in Nigeria Ankara, Senator, Aso Oke, Adire, guinea, brocade, lace, silk, velvet, and stone-washed material.
3. Develop a Business Plan Your business plan will help you to define what your business is, what it does, the nature of the market you will be focusing on, your marketing strategy, and your business projections in your few years in the business. It will help you gain precision about what your aims and objectives are in the business.
4. Register Your Business With The Corporate Affairs Commission
The Corporate Affairs Commission (CAC) is the body vested with the registration of businesses in Nigeria. Your business therefore needs to be registered with them in order for you to be a legal entity. You will be able to stand legally if your business gets involve in a legal battle and it will help you to get loans or grants from financial institutions and other corporate bodies.
5. Find a Supplier The type of fabrics you desire to be selling will determine the kind of suppliers you will link up with. There are many suppliers in Kano, Lagos (Idumota and Oshodi), Onitsha to mention but a few.
6. Start up The Business This kind of business sells faster in where there is crowd. That is to say, market area is best suited for this kind of business in order to gain traffic in your business. You may as well consider getting a shop in a location where there is no one selling fabrics and there is crowd there.