Pls i need a guideline in starting cosmetic business with capital of#200,000.nnamd from enugu
Starting Cosmetic Business with Capital of #200,000
Cosmetic Business can be lucrative business if started with huge capital. Just one carton of foreign cream can cost you as much as #45,000 or more depending on type of cream. Unless, you are going to be dealing on locally made cosmetic at the start; may be later you expand.
To start your own cosmetic business;
- Rent a shop or store. In Enugu, stores or shops are very costly. You can rent a shop of #150,000 per year; #200,000 per year, #250,000 per year, etc depending on the location. Inside market like Ogbete main market, New market, Mayor market, Artisan market etc; you can rent a shop of #5000 per month, #10000 per month, #15000 per month, #20000 per month etc. depending on the location inside the market. However, there is a lot of competitions inside the the market. It is better you choose a high traffic area within a street. If you are going to locate your cosmetic business close to related business, make sure you have different varieties.
- Where to Buy the cosmetic products you can sell. Once, the shop is ready; you’re good to go! You can buy different varieties of Cosmetic in Aba, Onitcha, Lagos etc. Remember, there are fake products in market. You can find out from those who are already into the business where they buy their products.
- Market your products – Devise a strategy for selling. You can sell both online and offline.
In summary, #200000 may not be enough to start this business. You need to increase your capital.