Will you love to know how much the cost of starting a boutique business in Nigeria 2021 will be for a new start up? If yes, then check below.
In this article, the total amount required for the start up of a boutique business in Nigeria has been explained with clear plans on how it.
The truth is, it doesn’t really matter how much you have at hand or how much you need to start your boutique business. But all that matters is the plans you have in place.
A boutique business can only yield good profit if some important factors are taken into consideration before starting it.
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Best Plan for Starting a Boutique Business 2021
To start a profitable boutique business in Nigeria, the following important factors must be considered;
- The available amount
- Estimated size of the business
- Location of the business premises
- Rate of demand for the business in that very location
- Where to buy quality clothes at cheaper wholesale price
The best way to start with is to plan how big or small you want your boutique to and that can be done by considering the available amount that you have at hand.
Then, the next step is to choose a good location that will expose your business to a larger number of patronizers.
The final step is to consider where you can buy quality clothes at cheaper wholesale prices.
How much Does it Cost to Start a Boutique in Nigeria?
Starting a boutique shop in Nigeria in 2021 will cost between Seven Hundred Thousand Naira (N700,000) to 1 Million Naira (N1,000,000) for a small scale boutique business.
A medium boutique in Nigeria can cost between Seven Hundred Thousand Naira (N700,000) to 1.5 Million Naira (N1,500,000) for a start up.
Also, it will cost between 1 Million Naira (N1,000,000) to Ten Million Naira (N10,000,000) to establish a large boutique business in Nigeria.
If you want to start a good boutique shop that will attract people, then keep up to Ten Million Naira (N10,000,000) as your start up amount and make sure you start by selling quality clothes.
Note; the amount shown above depends on the place and location that your boutique is located.
Profit in Boutiques Business
Boutique business in Nigeria is very profitable. Boutique business is one of the most profitable businesses for entrepreneurs.
How much can I make from Boutique business in Nigeria?
A start up boutique business in Nigeria can make up to Two Hundred Thousand Naira (N200,000) to Five Hundred Thousand Naira (N500,000) monthly profit within a month of start up.
Apparently, if the boutique business is a big one and if it is located in a good location, then it can make up to Seven Hundred Naira (N700,000) profit within a month of start up.
The profit in boutique business depends on how demanding and how fast your sales are moving, the quality of your materials and your prices.
Like it was started earlier, starting a good boutique shop business in Nigeria that will attract people will require up to a Ten Million Naira (N10,000,000) start up amount.
Meanwhile, it is advisable to start a boutique business by selling affordable but quality materials that the customers will love and with that, they will always return next time to patronize.
Few keys to a boutique business success in Nigeria include:
- Supply your customers with the latest designs, and the most fashionable clothes
- Make sure that your boutique has good accessibility;
- Enhance the assortment of your shop with luxurious accessories.
Acquiring Boutique Fashion Skill in Nigeria
To enhance your fashion skill that will help you improve your boutique, you may need to enroll for a fashion school.
There are good fashion schools in Nigeria that you can acquire more fashion skill that will help you improve your boutique.
Below are the top fashion schools in Nigeria that you can acquire more fashion skills from in 2021.
- Glamour institute of fashion textile and craft
- OSC School of fashion
- Fashion and art academy
- Fashion, Art and Creative Academy (House of Henri)
- Burgoo fashion school
- Zaris fashion & style academy
- Princessklin ventures
- Kendy’s creation
Finally, starting a small boutique shop in Nigeria in 2021 will cost between Seven Hundred Thousand Naira (N700,000) to 1 Million Naira (N1,000,000).
Starting a medium boutique in Nigeria can cost between Seven Hundred Thousand Naira (N700,000) to 1.5 Million Naira (N1,500,000).
A large boutique business will cost between 1 Million Naira (N1,000,000) to Ten Million Naira (N10,000,000).
Also, a boutique owner in Nigeria can make a monthly profit between Three Hundred Thousand Naira (N300,000) to Seven Hundred Thousand Naira (N700,000).
At this point, we believe you have known the amount needed to start a boutique business in Nigeria 2021.