How to Start Okrika Business In Nigeria: Are you planning to start Okrika business in Nigeria but don't have enough information on how to start? If you are in this shoe, you are at the right place to learn how to start Okrika business in Nigeria.
We need to understand that not everybody can afford to buy new clothes, bags, shoes, and jewelry. The fact that all fingers are not equal is the brain behind Okrika's business in Nigeria.
For those who are interested in reselling a fairly used product known as Okrika, you are going to learn all you need to know about this lucrative business in this article.
Many people look down on Okrika's business in Nigeria because they think is for people who don't have money to start large-scale businesses, but this is very wrong. Any business-oriented person knows that money is in this Okrika business.
Okrika business is not limited to selling used bags and clothes alone, there are also mediums for electronics, cars, motorcycles, etc. Anything used and ready to be resold is known as Okrika in Nigeria.
As stated earlier, This article is a guide for people who wants to know how to start Okrika business in Nigeria. Here, you will learn step-by-step guides on how to start the business, the cost of starting it, and its profitability nature.
So, how can you start Okirika Business in Nigeria? Well, the answer is below. But, before we talk about that, let me give more insight into what Okrika business is.
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What is Okrika Business?
Okrika Business is an avenue for selling already-used products. It can be any product. The most common things sell as Okrika is Bag, shoes, clothes, and electronic devices.
In Nigeria, the Okrika business is a thriving business and people are into it. People buy used clothes and other items in large quantities and resell them in the retail market. If you want to start an Okrika business in Nigeria, it is advisable to get your goods from Cotonou, That's where you can get them for cheap prices.
How To Start Okrika Business In Nigeria (Bag, Cloth, Shoes, etc.)
The following are steps on how to start Okirika business in Nigeria;
1. Get Ready for The Required Capital
The reasonably required capital to start an Okrika business in Nigeria is between #10,000 - #100,000. Before you can even think of starting any business, the money to start should be the first thing on your mind. Therefore, the capital to start is the first step in starting an Okrika business in Nigeria. Get the capital first and all other steps will become easier.
2. Conduct Market Research
After getting the required capital to start, the second step to starting Okrika business in Nigeria is conducting market research. Before starting any business, it is important to conduct thorough market research. In this case, you need to determine the demand for second-hand products in your area of operation, the target market, and the competition. You can visit different markets, stores, and online platforms to find out the most popular types of clothes, bags, shoes, etc, and their prices.
3. Get a Shop
You need a place to showcase your Okrika business and that can be best done in a shop. However, you don't necessarily need a shop when it comes to Okrika business. You can also sell from home. People will patronize you even in the comfort of your house.
4. Choose a Suitable Location
If at the end of the day, you decide to get a shop instead of selling your selling from home, then you need to identify a suitable location for your business.
You can consider setting up your shop in a busy market or a strategic location with high traffic. The location should be easily accessible to potential customers and have enough space to display your products.
5. Buy Wholesales Products
You can import fairly used or second-hand items like clothes and bags from different countries, such as the United States, Canada, and Europe, through a reliable supplier or travel to these countries and buy the clothes yourself. People who are into the Okrika business often buy from Cotonou because it is cheaper over there. You can also purchase from wholesalers and distributors in Nigeria. Ensure that the clothes are of good quality, clean, and in good condition. This will help you gain customers trust and it will also give you returning customers.
6. Advertise Your products
Now that goods are in your shop, the next thing is to tell people about what you do. You have to advertise what you are selling to get customers. Word of mouth and fliers are the best ways to advertise Okrika business in Nigeria.
7. Start Selling
And the main step is; Start selling. You have done all the necessary steps and the next step is selling to customers. Make sure you are friendly with your customers so that they will like you and always prefer to buy things from you. Don't give a high price too. It's better to be making your profit little by little till you expand your business rather than rushing it.
8. Provide Excellent Customer Service
And lastly, you have to provide excellent customer service. Providing excellent customer service is important for any business's success. You need to ensure that your customers are satisfied with the quality of your products, prices, and service. You can provide value-added services such as free alterations, delivery services, and loyalty programs to attract and retain customers.
Is Okrika Business profitable?
Yes. Okrika business is profitable and this is why you will find many people doing it today. You buy used items at cheap prices wholesale and resell them in the retail market. Even though you are expected to resell Okrika products at a cheap rate too, it is still profitable because you will get a discount from the seller when you buy wholesale.
How much do I need to start Okrika business?
Okrika is a very cheap but profitable business. With #20,000 to #100,000, you can start a profitable Okrika business.
The capital you need to start Okrika business will however depend on how you want it. Okrika is sold in a bale in a country like Cotonou. So the amount needed depends on how many bales you want to buy.
Conclusion;
Okrika is a profitable cheap and easy business to start in Nigeria. As cheap as it is, it is profitable in Nature. All you have to do is get a reliable supplier who will be giving you used items like cloth, bags, and shoe wholesales while you resell them in retail. This article covers How to start Okrika business in Nigeria, the cost of starting, and its profitability nature. I believe you now know better about Okrika business in Nigeria and that this article will help you to kickstart a profitable Okrika business in Nigeria.