If you’re among these few individuals that have a strong passion for lifestyle and fashion, then bridal shop business might just be the ideal business you should consider doing before the end of this year. Every Saturday and Sunday, there’s always a wedding event going on. The magnitude by which pre-wedding pictures surface online always leave me wondering, sometimes I feel left.
Bridal shop business is no doubt a lucrative million dollar business in the fashion industry and is usually considered as one of the untapped businesses in Nigeria. Some people are already in the business, but they are few and unable to adequately fill the void. That is why you need to delve into this opportunity and make money for yourself. If this business is done well, you can diversify and expand in other to serve another a different demography in the fashion industry. This means, more inflow of money.
How can you start a bridal shop here in Nigeria or anywhere in the world? I think that’s the purpose of this article and I’m going to be very detailed. In case I miss a thing, you can always ask your questions using the comment box. Let’s get started!
MATERIALS NEEDED TO START A BRIDAL SHOP BUSINESS
Here are most of the important equipment or materials you’ll need to get started.
- Show room
- Office Complex
- File Cabinet and desk
- Cash registers
- Computer terminal etc
The inventory you carry depends upon how specialized you want your shop to be. Bridal gowns and bridesmaid dresses are very important. You need as many as you can afford.. They should come in different sizes and design so that clients can make a choice. I have seen some bridal shops offer tuxedo rentals for the convenience of the wedding party. You can also decide to offer wedding accessories like custom photo albums and photo packages, wedding ceremony candles and flower arrangements. As your business grows, listening to customer needs can help you refine the products and services you carry.
How To Start A Bridal Shop Business
1. GET A BUSINESS PLAN
Not writing a detailed business plan is like delving to an ocean without any life support, without the skills that aids survival. No matter how small the business is, never you venture into it without sitting down to prepare a good analysis of the business. Apart from the fact that a business plan gives you an overall overview of the business, it is also a device used to attract potential inventors. If you can’t prepare a business plan, hire a business plan writer to handle that. One of the most important function of a business plan is to expose the weaknesses and threat, and give mediums by which they can be bypass.
2. A GOOD BUSINESS LOCATION
Your bridal shop business needs a good location to strive in success. Don’t expect to reach the pinnacle by situating your business in an isolated place, away from potential customers. Get a shop along the road, where there’s lots of traffic. The benefits that comes with a good business location cannot be overemphasize. Do this wrong and you’ll end up frustrated and in worst cases, fold up.
3. STOCK UP YOUR SHOP
There are lots of suppliers and manufacturers you can order your supplies from. You can even ship most of the inventories from China to here in Nigeria with just your computer system. That’s why your business plan is very essential cause it will also diverse a means by which you make order. Most of the things you need to stock up your shop includes;
- Wedding dress of different sizes and design
- Shoes and lots more.
Knowing how to decorate an event or how to make awesome cakes is a skill that will open another stream of income as a bridal shop owner. I don’t advice you acquire those skill right away, now advisable. But as you grow, you can employ workers who are experts in those fields.
4. NAME YOUR BRIDAL SHOP BUSINESS
This might seem easy, but when you engage in the activity, you’ll discover that getting a perfect business name can sometimes be a hassle. Don’t stress yourself the much.. Take a breathe and think of names that depicts the purpose of the business. You can coin two known words together, or perhaps works with an abstract name with no meaning. I’m whatever you do, make sure it’s memorable and suits the business.
5. REGISTER YOUR BUSINESS
Years ago, you have to pass through rigorous process before you can have your business name registered. Today, you can easily do this online provided you have the finance. You might not register your business immediately, but you should consider this option as your business grow. This makes you look more serious and professional. Not forgetting that it helps when seeking for business loans in the bank or any financial institution.
HOW TO SOUGHT FOR A REPUTABLE SUPPLIER OR MANUFACTURER FOR BRIDAL SHOP ACCESSORIES
In this internet age, everything has been made easy. I can stay right here and make order and get it shipped down here, in my doorstep. Vconnect.com is one of the sites I respect so much. It helps you to connect with professionals who have what you want. All it takes is writing the keywords in the search bar and you’ll see hundreds of suppliers of that particular product. Although you have to be careful. Not all of them can be trusted.
You can also take a walk to your favorite bridal shop and ask the owner how he or she get supplies. They are always happy to help.
COST OF STARTING A BRIDAL SHOP BUSINESS
If we exclude the shop rent, then you’ll need about N1Million to start this business. I think it’s worth it Judging from the fact that you’ll realise your capital within three months of business. Bridal shop business is profitable business that many are yet to know. This is why you need to draw a good business plan. That way, you’ll be able to draft out what you need and the overall cost. My estimated starting cost is just a worst case scenario, this means that the cost of starting a bridal shop business can be lower.
HOW TO PROMOTE YOUR BRIDAL BUSINESS
There are many ways you can promote your bridal shop and make mind-blowing figures in a short while. You can get your business out there by running different social adverts like facebook ads, twitter and Instagram ads.. Having a complimentary card and some fliers can do wonders. In all you do, don’t underestimate the power of word of mouth. Let everyone hear you voice. The more people know about your business, the more customers you’ll be able to pull in.
Bridal Shop business is a lucrative goldmine and many are yet to see that. Recently, my cousin exposed me to this business and it’s profit potentials and I was amazed. Clients aren’t a problem, if you do your promotion well, if you expose your business out there, you’ll see lots of orders that you might not be able to put up to. If this post was insightful, help someone out there by sharing using the buttons below..