How To Start Okrika Business In Nigeria
WHAT IS OKRIKA?
Okrika is a native Nigerian name or a name used for second hand wears. Wears can include shirts, trouser, pants, bags and belt, shoes etc. any wear that is used or second hand is regarded as okrika.
How can you start okrika business and make money here in Nigeria? That’s the purpose of this article. But before that, let’s take a look at the WHYs.
- Why should you start okrika business?
- Why is okrika business lucrative?
REASONS WHY OKRIKA BUSINESS IS LUCRATIVE
1. IT’S VERY CHEAP
One of the major reasons why this business is very lucrative is because of the high rate of demand. Like the old rule says, the cheaper the price, the higher the demand. Everyone is going for fairly used because it looks new, cheap and affordable.
2. TO LOOK GOOD
Fashion is the order of the day, when the rich flex and flaunt their wears, even the middle and lower class would like to feel among, especially among the youths. With okrika, they have been given the opportunity to wear high designer clothes at a cheap rate. The more reason okrika business is profitable.
3. LAST LONGER
There’s this popular beliefs that second hand clothes last longer than new ones. Whether it’s true isn’t the reason why I’m here, but for the fact that many believe in this means there’s a market for you in this business.
4. CHEAP TO START
Okrika business isn’t like other business that requires millions of capital to start. It’s a low capital business and with N50,000, you can start this business and make money.
5. NO TECHNICAL SKILL
You don’t need any special skill before you can succeed in okrika business. In fact, all you need is just one step and you’re on your way to financial freedom.
HOW TO START OKRIKA BUSINESS IN NIGERIA
Having known the mouth-watering benefits of okrika business, let’s delve into how you can start this business and make money. Before you take the steps below, I want you to first of all conduct your feasibility stud. If possible, draft out a business plan. Doing this means you’re serious for business and want to make money.
Many prospective entrepreneurs make the mistake of not doing their homework in regards to research and analysis before kicking off. In the end, they fail and blame it on the business. Once you’ve done that, proceed immediately into making this business a dream come true.
Before venturing into this second hand business (Okrika business), make sure you have already set money aside. The amount you have we determine if this business is going to be on a large or small scale. Like I’ve already said, okrika business is a low capital business which means, you can start with any amount and still make huge returns. As the business grows, you gradually grow into a mega business venture.
2. BUSINESS LOCATION
This is what tells if you’ll succeed or not. Your location is very important. If you get it wrong, you’ll definitely quit and cry. You need a buzzing location. A location filled with pedestrian traffic. When you get a good business location, selling off your second hand wears becomes so easy.
- GET A SUPPLIER
In this okrika business, you need a reliable supplier. There are many ways to go about this. First is by meeting with a mega supplier here in Nigeria, someone who travels out or buy directly from ecommerce websites like eBay, Alibaba etc. the second option will be ordering the products yourself by visiting these ecommerce websites already mentioned.
Some people source from Katangua Market in Lagos. Some get from Contonou.
When you’ve gotten your okrika wears, your packaging is what brings in extra cash. I know some people in this okrika business that buy them and sell as if it’s new. That’s because it’s clean, ironed and wrapped neatly with a good scent. Take your packaging serious to avoid customers from under-pricing your products.
- KEEP EXPANDING
When you kick off with this okrika business, don’t forget to expand, don’t forget to grow. Only when you are growing, and employing more staff will you become a real entrepreneur. It’s never easy, but a thousand mile journey begins with a step. Don’t ever forget that.