Perfume business is one of these businesses that spills huge load of money to their starters, not because there’s no competition, but because you are different and your product is unique like no other. My first business was a perfume business and I started it with my close friends, who were very young and excited to venture into the world of business.
It’s worthy to note that when I started, I was an undergraduate in the department of entrepreneurship. From the beginning, I knew I wasn’t going to look for jobs or work for a boss after graduation. I knew better than to delve into the rat race. Into slavery! When others where sleeping in the library, studying to hit first class, I was busy working on my dream business. I’m not saying that school isn’t worth going, all I’m saying is that to be financially free, we have to take the bull by the horn.
That was the moment the book, “Why A Students Works For C Students” By Robert T Kiyosaki made so much sense. The business wasn’t all roses at its infant stage, but after lots of tweaking and experimentation, we hit the jackpot. Perfume business is a lucrative goldmine only if you do it well. There will be lots of challenges, no business is challenge proof anyway. But having this in mind prepares you for what lies ahead.
How can you start a perfume business here in Nigeria? What are the requirements? I’m going to make this article very detailed. It’s really not rocket science if you’re determined to make this work. Let’s go into real business on how to start.
HOW TO START A PERFUME BUSINESS IN NIGERIA
1. BUSINESS PLAN
This is your first step and in this stage, you need a pre-initial capital to make this happen. Most business consultants usually say; “To make that dream come true, draw a business plan.” I think I will go with that. Your business plan is like a road map, leading you to success. Not doing this is like working through a dangerous street blindfolded. Believe me, that’s suicide. One of the reasons why businesses in Nigeria fail is because their starters ventured in without any form of map or knowledge of what they are going into. At the end, they label entrepreneurship a risky field worth not taking.
If you can’t write a business plan, hire someone who can. Through a business plan, you know more about your proposed business, the weaknesses and strengths. Through a business plan, you know the equipment and the overall cost needed to start the business.
2. SKILL ACQUISITION
Perfume business or rather, perfume making business is science. When I started mine, one of my partner knew how to make perfume so, it made the journey a smooth ride. Although we invested work and time. For example, we wanted to produce a perfume that has no common fragrance. We needed something unique and classy.
This is also the stage where you learn about the various chemicals used for the making of perfumes. You’re free to enroll in any skill acquisition center to learn the basics of how to make perfumes. Doing this will give you confidence.
3. REGISTER YOUR BUSINESS
In the perfume or fragrance industry, registering your business should be among your top priority. It helps potential customers and investors trust the business and compel them to invest. The benefits that comes with registering your business cannot be overemphasize. In the course of inevitable, you as a person cannot be sued cause your business is an entity if its own. Apart from these, it makes the business look serious and professional.
4. YOUR OWN UNIQUE FRAGRANCE
In this perfume business, what makes you relevant and unique is the fragrance of your perfume. It has to be unique and different from the rest. This can be achieved through series of experimentation. In the stage of skill acquisition, you learn more on how to invent your own unique fragrance. There are many perfume products out there, what makes you stand out is your uniqueness.
Do you know why Coca-Cola seems unbeatable? It’s because no business entity in the world knows their secret recipe. It is highly classified and they can protect that secret with their life. No wonder their facilities is one of the places in the world that’s heavily guarded. The same applies to this perfume business, your unique combination is your selling point and it should be unique and a secret from the outside world. When the secret of your fragrance is exposed, the business is as good is dead.
5. YOUR PACKAGING MATTERS
There’s a popular saying, never judge a book by its cover. Well, i don’t think that assertion holds water on this page. To excel in this perfume business, you need to make a huge impression and the easiest way to do that is through your packaging. Many companies can spend Millions of Dollars to acquire fancy bottles, bottles that cost even more than the content. I’m not advising you to go beyond your means all in the name of having an attractive package, all I’m saying is for you to strive in making the packaging worth buying. Also make sure that the label is done by a good graphic designer. You need something simple and professional. Appearance matters a lot in this business.
HOW TO MARKET AND PROMOTE YOUR PERFUME BUSINESS
When you’ve ended up having a wonderful product, that is only but the beginning. The marketing strategy you adopt determines the success of your perfume business. You need to be very aggressive and smart in this stage in other to penetrate the market and gain exposure. Truth is; you can’t do it alone. You need a team, you need people who have the same ambition.
Look for distributors, retailers.. Visit every cosmetic shop that you can and give them samples of your product for free. When people use your product and discover how wonderful it is, they will be the one advertising your products. That’s why it’s good to get it right from the beginning. If you do this right, you won’t have to worry about getting orders.
Perfume business is one of these businesses people don’t usually give a thought. Many see it as a complicated and complex venture but truly, it’s a business that has come to stay and flourish. The initial stage won’t be easy, but the gain is worth the pain.
If you’ve any question, use the comment box and I will respond immediately. Don’t forget to share this wonderful post using the social buttons below.