The Nigerian fashion industry is a multi billion dollar industry. Fashion design is a business in Nigeria that has a record of high achievers, both past and present. It is an industry that support and promote looking good, you can decide your profit in this business. You can even decide if you want to go international with your fashion design business. A fashion designer needs to be creative in designing clothes for customers. As it is, the secret for success in fashion design business is creativity.
There are recognized names in fashion industry and here are names of few names that just pupped into my head:- Ralph Lauren, 3 stitches, Yomi Casual, Gorgio Armani, Frank oshodi, Duro Olowu and so many others. All of these names are doing well and will continue to do well in fashion design business, raking billions of dollars. You too can become one of them if you take your place now.
Fashion design business is a lucrative one that on small scale can make you N150,000 or more weekly. Yes I mean it. By investing in fashion design business small today, you can grow up to the level of the designers mentioned earlier in the next few years.
To understand the potential in this business, check out the names of few fashion designers and their net worth.
Calvein Klein net worth is 1.7 billion dollars. Calvin Klein is a fashion designer that started small and eventually become big. Calvin Klein fashion products are some of the most recognized in market worldwide.
Gorgio Armani is a fashion designer primarily known for his men’s fashion from northern Italy, with an estimated net worth of 7.2 billion dollars, Gorgio Armani is one of the richest fashion designer in the world.
These names I have mentioned started from somewhere before achieving greatness. So who says you can’t make in fashion designing? The market is getting bigger and bigger as more people become fashion aware, meaning you could even achieve more than these names if get creative and discover how to put your ideas into good use in fashion business.
A Fashion Designer is someone who designs fashionable clothes for individuals or groups of people. As a fashion designer, you need to be fashionable and fashion conscious to be able to satisfy your customers.
To become a fashion designer, here are some of the steps you need to take. Remember this article is aimed at giving you thebusiness idea while you go out there to get your specialized training in fashion design.
Get Professional Training In Fashion Design
To be a successful fashion designer, you need to have the deep knowledge about how to put pieces of cloths or pieces of leaders together to make good fashion. To learn this, you must under go training in any fashion design institute. Training period is usually between 6 months to 15 months. Training enables you to know everything about designing and sewing clothes as well as making other things because fashion is much more than cloths. You need to learn how to run a sewing machine, how to cut cloth to fit and so on.
There are some specialized places in your locality where you can get good training. I do not recommend places, just ask people around you to direct you on where to get good fashion design training. Make sure you get your training from professionals who understands modern fashion trends. Do not get trained by local fashion designers who operate from local shops, go to fashion design institutes where you could learn varieties of fashion design from professionals.
Get Your Startup Capital And Location Ready
With N200,000 you can start a fashion design business on a very small scale but aim for something big if you can afford it. You need to invest in this wisely by getting a good location, good tools and equipment. You also need to employ very good support staff. This will ensure quality in your services. Good location will also ensure that you have access to well paying customers.
You need to rent a shop for the business. Renting a flat of 2-3 bedroom in good location will be most desirable. The location you should be looking at should be proximity to the customers. You should also consider your close competition, if you have lots of close competitions in the area where you rent your shop, you might end up having a tight competition, so consider your close substitutes when getting a good location.
Buy The Equipment For Fashion Design
Some of the equipment needed in small scale fashion design business includes the following:
1. Tape Rule: The measuring tape is used to measure accurate size. For example you will need to measure your client’s waist size, hip size, full length and so on. How to measure your client accurately is part of what you will be taught at the training institute.
2. Two Or Three Pairs of Scissors: This is used for cutting clothes.
3. Threads: You will need to buy different colors of thread, the thread is mainly used with needles to sew clothes.
4. Needles: Needles are used with thread to sew clothes.
5. Chair: You need chairs for yourself and your customers to sit on.
6. Table: You need table of different sizes for cutting clothe.
7. A Complete Set Of Sewing Machine: The sewing machine is used to join pieces of clothes together.
8. A Weaving Machine: You need this machine to perfect your sewing, this perfection makes your sewing very neat.
9. Embroidery Machine: An embroidery machine is used to make designs on clothes.
10. Generator: A generator set of about 10 K.V.A to power your equipment when there is power failure.
Now that you know the equipment needed for your small scale Fashion Design Business, what is the cost of each?
A Tape Rule cost N1,050, A pair of Scissors costs N1,500, Thread N1,050, Table N4,050, Chairs N4,050, Buttons N1,050 , Zips N1,050, A Complete set of sewing machine N30,000, Mini Weaving Machine N30,000, Embroidery Machine N30,000, A Generator set N40,000.
Having invested total of N143,800 on equipment, don’t forget about your shop rent which will cost N450,000 annually and N3,000 on Transportation before profit. This sums up your total investment capital to about N595,800.
Profit Potential In Fashion Design Business
Having invested N595,800 to start a fashion design business, you will be earning N150,000 or more profit weekly depending on the number of clothes you make per day for this reason, you need to employ more hands to help you achieve your target number of clothes per day, and also to avoid disappointing your customers.
Cost of making a good cloth is about N7,500 or more depending on your creativity and skill invested on the particular cloth, so if you can make at least 6 clothes a day, total amount made for the day is N45,000, multiply this by 6 days, that gives you N270,000 weekly. Deduct the cost of materials used on cloths, utility bills, wages of staff, and other running cost, you will be left with a whooping N170,000 weekly!
With these tips above, you can be assured that you will be raking in profits from investing in a fashion business. Take the dive, ensure you undergo careful analysis and investigation before you start this business, be well aware of your chances, and above all, follow your heart, it really never fails!