There are many service businesses one can start with little or no capital even from home and one of such businesses is Tailoring. The good thing about this business is that you could start with just one sewing machine from your bedroom and within months be handling jobs worth hundreds of thousands of naira depending on how well you prove yourself.
The business typically involves taking customers measurements and their requirements and sewing to type. The potential in the business is vast but is only for the skilled and patient.
NB: Your skills and expertise should be your greatest asset in this business and excellent rapport with customers else you could be frustrated and be forced to make an early exit.
There are many companies and institutions that need to have uniforms produced in bulk to be worn by their staff or members. Think about churches, hotels, security guards companies, para-military institutions, factories and hospitals to mention a few. Think of just how much contracts you could potentially secure if say you’re contacted to sew uniforms for a primary school with 1000 pupils or a security guards company that needs 300 uniforms and there thousands of companies like that all over the country.
Besides this there’s also customized tailoring in which a client wants his/her clothes sewn to their own tastes and specifications. For this class of customers the price is premium and majority of people who fall into this category are celebrities and upwardly mobile, trendy and socially active folks who would rather rock expensive designer wares than buy common clothing.
Tailoring is quite a challenging vocation to undertake as there are so many people doing it with profit margin not so attractive but that is if you are like every other tailor. The key to standing out and making a brand that puts good cash in your pocket is excellence and efficiency. Can you despite the challenges be an excellent and efficient tailoring service? One of the key challenges is low purchasing power within the economy. People and even companies complain of cash squeeze which makes it difficult for them to pay for goods and services at premium prices so they’ll rather patronize someone else who can offer them a lesser charge that could negatively affect your bottom line. Besides the cash squeeze could also result in low patronage.
Reaching your target market shouldn’t be a challenge once you become a household name therefore the real strategy would be how to make yourself well known within your niche. There are many ways to achieve this for instance effective customer service, excellent branding, referrals and direct marketing to clients.
Industrial Sewing Machine: N80,000
Accessories (scissors, tape, threads etc): 10,000
Shop Space: N120,000
Do you need to have a professionally written business plan? Contact me to write one for you: 0803 206 4106