Today, with the speed of development as well as the huge demand of the hair industry, it is not difficult to imagine that doing business in this field is extremely wise, especially in countries with large markets. vibrant hair school like Nigeria. Hair business in Nigeria is considered a promising land for those who have a passion for business in this field. Let’s see hair business in Nigeria
- 1 Overview of hair business in Nigeria
- 2 Advantages of hair business in Nigeria
- 3 How to make hair business in Nigeria
Overview of hair business in Nigeria
To understand and answer the reasons why startups should choose hair business in Nigeria, first, let’s have an overview of the hair market in Nigeria.
Demand of hair for hair business in Nigeria
Women in Nigeria take their hairstyle very seriously, which is extremely beneficial for hair business in Nigeria. Women here, if economic conditions allow, change their hairstyle once every 2 weeks to 1 month. Each head is about 20USD, the complex is 30USD. For many families, this is luxury spending. However, although many husbands complain about this, wives still cannot give up their love of changing their hair. Hair business in Nigeria can also be considered as a condition for development.
A female customer in the salon said that when she has money, she changes her hair every 2 weeks, when she runs out of money, she gets a new haircut every 2 months. Hair does not change constantly, going out feels like not changing clothes. In the summer, wearing a thick wig is not comfortable at all, but the women here do not reduce their love for wigs. Getting a haircut costs a lot of money, but before changing the hairstyle, they are not washed, so they keep their hair clean on the street, and wear a headband at night.
Because the demand for wigs here is very large, the wig market is extremely active, almost every hair shop sells wigs, about 1 to several dozen dollars a set, sourced from South Africa, China. Korea, Korea. With the current high demand, hair business in Nigeria is extremely potential and business people cannot ignore this golden opportunity.
Good signal for hair business in Nigeria – Nigerian women love beauty for their hair
Women’s hairstyles are very important to Africans. The more original, striking, and intricate the shapes, colors, and variants are, the more their ingenuity and feminine beauty are exhibited. Every woman must spend at least $10 on a wig, and a monthly visit to the hairdresser costs her $100. Women that can afford to do so will alter their hairdo twice a month by going to the salon. Each person spends between $20 and $30 on intricate hairstyles and related fees. Consequently, the hairdressing industry is quite successful in Africa. Each hairdresser can make roughly one thousand dollars per month, a wage that enables them to live contentedly. Entrepreneurs may take advantages from this chance to ensure that the hair business in Nigeria runs properly.
Women in several African nations continue to spend a lot of money on having beautiful hair despite the challenging economic climate. The typical haircut costs three to four times as much as an African worker’s monthly salary. But why are so many women still prepared to part with this much cash?
Blessing James, a 25-year-old Nigerian, stated, “I need to make my hair become more attractive.” Many women in this nation, like James, are ready to spend a few hours doing their hair for forty dollars , which is a hefty sum in a nation where many people make less than two dollars per day. West African women change their hairstyles more frequently than South African women, according to Mr. Bertrand de Laleu, CEO of L’Oreal South Africa. He has a dry sense of humor: “In terms of hairstyles, African ladies are definitely the most daring. They can spend a lot of money on styling it or decide on a new haircut that they have never had before. With such a great demand and preference for changing hairstyles so often, hair business in Nigeria promises to be a fertile land that many people choose.
Advantages of hair business in Nigeria
Hair business in Nigeria is considered a black gold market and is ideal for businesses, so surely hair business in Nigeria has a lot of benefits, let’s learn about those benefits.
Huge suppliers for hair business in Nigeria
Nigeria is the second largest hair market in the world today, along with the rapidly increasing demand for hair, it is not difficult to understand when the supply for hair business in Nigeria is extremely large, any supplier will want to take advantage of the opportunity to participate in this market. The supply of hair business in Nigeria comes from many markets, from medium like Indian hair, Chinese hair,… to high-end markets like Vietnamese hair, Cambodian hair, Peruvian hair,… hair business in Nigeria has such a large supply because the demand for Nigerian hair is very large, besides, the quality of Nigerian hair is neither too good nor enough to supply the market by itself. In addition, having many hair suppliers for hair business in Nigeria is extremely convenient because customers will have a wide choice of styles, colors, quality to price.
Huge profit from hair business in Nigeria
In a market like Nigeria, it is extremely easy to make a huge profit in a hair business in Nigeria because women are willing to spend a large amount of money to invest in their hair. According to statistics, the hair market in Africa in general and Nigeria in particular has reached the threshold of 6 million USD a year, this is a huge number of the hair market compared to extremely rich and rich markets like Africa. Europe or as dynamic as Asia. So, if you invest some hair business in Nigeria, it won’t be long before huge profits will be in your hands
How to make hair business in Nigeria
Hair business in Nigeria has a lot of benefits, but how to start a hair business in Nigeria is what makes a lot of people wonder. Let’s find out in the following article
Do a survey for hair business in Nigeria
Doing a survey for hair business in Nigeria is essential. This is the first and important step for any business person who wants to succeed in the business fields in general and hair business in Nigeria in particular. A survey will make you understand customer segments as well as customer needs, what kind of products are being loved by customers, what hair models are trending in that hair market, etc. With this information, business people will know what they should provide to customers and next steps to make a profit
Make a plan for hair business in Nigeria
Creating a blueprint for hair business in Nigeria is considered an extremely necessary and important step. A detailed plan will help you orient the things that need to be done in a certain time. The steps to be outlined in the plan sheet include the stages as well as the work to be done for that phase. For example, when entering the market to carry out hair business in Nigeria, business people need to have a plan of what they need to do such as market survey, sourcing, etc. During the planning step, hair business in Nigeria will become confused, disoriented and misleading, not achieving the set goals. So, if you are interested in hair business in Nigeria, don’t skip this planning step
Prepare needed capital for hair business in Nigeria
When you want to start doing hair business in Nigeria, it is very understandable to prepare the necessary capital. Not only that, you have to determine the amount of money you will need, the amount of money you lack and find a way to get it. This is the dilemma in hair business in Nigeria, because only when you have an adequate amount of capital can you confidently start the business. If you do not have enough capital for a hair business in Nigeria, you can borrow from banks, friends, relatives, …
Rent a place for hair business in Nigeria
If all the factors mentioned earlier are important for hair business in Nigeria, then the choice of business premises for hair business in Nigeria is also a matter of concern. When choosing a business premises, you should consider issues such as location: if you can find a location that is easy to find for customers, on the street, downtown, fashion streets, etc. .. then this is an ideal thing for the hair business in Nigeria. Besides, you also need to pay attention to the customers there such as their needs, income and purchasing power to choose the best value. Store location can decide up to 50% of your success when doing hair business in Nigeria