The makeup market can be reasonable profitable as nearly everybody in the world uses some kind of cosmetic product. There isn’t a lot of competition in this industry in Nigeria, which means, with the right amount of dedication, you’ll be able to produce a following of loyal customers.
These tips and advice on how to get started and launching your makeup line in Nigeria are all you need.
1. Do a research
There are only a few companies in Nigeria that produce makeup, as the components can be very expensive. It wouldn’t hurt to also do some research on the ingredients used in producing cosmetics. Find out what the government oversight rules are for the selling and labeling of makeup.
Search and read makeup reviews to find what the market likes and/or dislikes about certain makeup products. This will help you determine what need you could focus on that other makeup companies aren’t satisfying.
2. Write a business plan
Who will be your target audience? What is your hook? What are you going to offer that the multitudes of others (thousands) do not? Will you be focusing on just one product (i.e., foundation) or a full line? Do you plan on distributing in stores, through the internet, or both? What is your price point? How will you advertise?
Are you comfortable making sales, or will you need help with that? What type of resources will you require, both financial and material? Are you good with colours? Are you creative? Most of all, are you hard-working?
Start with some prototypes. Hand them out to your family & friends, and ask for honest feedback. Then, fine tune and adjust as necessary.
Starting your own makeup line can be profitable. But as a newbie searching out markets, it may prove difficult getting your product into major retail stores or even small-sized local ones. Your best bet is to start small with people close to you, then gradually build sales.
People can be incredibly brand-loyal, and when they see a popular person using a product, it builds instant credibility. You can offer social media influencers a % of sales or a flat sum for promoting your product. You can also create videos and images that showcase the uniqueness of your product and the appeal of your overall brand.
Also use social media platforms like Facebook, Instagram to your advantage, so you don’t have to spend a lot of time and energy building your own web presence.
5. Get Knowledge
You will need to take some practical steps to make your dream a success as you would with any other venture. If you have connections in the beauty or fashion industry, use them. Talk to as many small business owners as you can.
6. Set up a brand
At this point, you already know what type of makeup products to make. So, it’s time to create your brand — this is the most important determinant when it comes to your business success. You’ll want to create a simple, but attractive name and logo with appealing colours. The tagline/slogan should also be memorable.
You may want to create a website or social media handles from which you can showcase and sell your products. Be sure to define your company’s online tone- is your brand classic? Luxurious? Sophisticated? This is where you develop the identity and personality of your brand. Be sure to take your time and get this right.