Mr. D produces indigenous female footwears. He has been in the business for over ten years. There is hardly anyone that lives on Street V that doesn’t know Mr. D and his business. Does it mean Mr. D owns a fashion brand?
To own a fashion business in Nigeria means you have your own identity. Fashion brands are all about creating a special niche for yourself. It is letting people know that you have a voice in the fashion industry.
Having a popular fashion business doesn’t make it a fashion brand. However, you can use the popularity to attract more customers.
Fashion brands are brands that sell fashion goods or provide fashion services. Fashion brands can be owned by fashion designers, hair stylists, skincare experts, nail technicians, make-up artists, cobblers, etc.
The following are needed to own a fashion brand in Nigeria.
To own a fashion brand in Nigeria, your business must be registered. You can register your business under the Corporate Affairs Commission (CAC). Without registration, your fashion business is not yet a fashion brand.
Upon registration, you will be given a legal document. The document is the proof of ownership. You have the sole right to your business name and other advantages.
Unregistered fashion business is not qualified to be called a fashion brand. It doesn’t matter if your business is popular.
Registering your fashion business is very affordable. By doing so, you have taken the first right step to owning a fashion brand.
2. Business identity
You cannot claim to own a fashion brand when your business is not different from others. A fashion brand has its own identity, voice, and niche.
There are different ways you can create an identity for your fashion business.
Have a unique business name.
Own a professionally designed logo.
Create a fashion niche.
Create styles and designs that are distinct.
3. A decent business space
For you to own a fashion brand, you must have a decent business space. It doesn’t have to be enormous but it shouldn’t be small either.
You must be able to accommodate people in your business space. It must be rich with equipment and tools to carry out daily activities.
If you have a small business space, you should consider getting a big space to launch your fashion brand.
A one-man fashion business cannot be a fashion brand. You must have paid employees. Your employees may be around three to five or more.
If you don’t have have paid employees, your fashion business is not yet a brand. Your employees should be in charge of the day to day activities of your business.
5. Loyal customers
A fashion brand must have loyal customers. Asides, the regular customers, you should have an increasing database of new customers.
No fashion brand can thrive without committed and loyal customers. You need to constantly reach out to prospective customers. They must be aware of what you do.
You can reach out to customers through emails, messages, flyers, posters, social media, and other advertisment channels.
Fashion brands must have definite prices for their goods and services. A distinct feature of fashion brands is pricing.
If you don’t know how to fix prices for your goods and services, you can carry out research. A feasibility study will help you make the right decision about the price to use.
Packaging is very paramount. All fashion brands have their distinct way of packaging their customers order.
Packaging can be done in different ways. The common one is having a customized nylon or box for your customer‘s order.
There is no shortcut to owning a fashion brand. It takes time, commitment, capital and hardwork. It is very important that you follow the steps listed above. Above all, research and have a realistic business plan.
Featured Image source: Istock
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