Investing In Hair Extensions

Hair extension business is a viable and lucrative business in Nigeria with its demands sky rocketing everyday. Hair extension includes; weave on, wigs, attachments among others.

Part of the good thing about this business is that it is a unisex business. What matters most is the ability to learn and explore in the business. As long as you take your time to do your market survey and draft out your hair extension business plan it should be fine.

There are many reasons why hair extension business is profitable, apart from it being a product targeted at females, it records high sales thus, making it a very large market in Nigeria.

Market Survey

Market survey is another essential step to take before proceeding on hair extension business. It helps you understand the targeted customers. It also keeps one informed on the trends, the ones having the most patronage and which is most profitable.

The market survey will make you understand and know if women choose hair extension as regards their area of residence. It will make it easier for you to draft out the business plan and helps identify the right area to rent a shop, depending on the availability of capital.

Business Capital

The capital needed to start hair extension business in Nigeria depends on size of business, whether small, medium or large scale.

As a business owner, you need to practice what you preach. Use good hair extension products on your hair for people to see. You don’t need much to start this business. All you need is to rent a shop for about N100,000 depending on the location. Buy hair extension/attachment products worth about N500,000 or less depending on what you have, and you’re good to go.

However, on a small scale, you can buy a carton of attachment on a price range of N21,000 to N35,000, depending on the brand and size. Availability of capital determines if one will rent a shop or use social media apps or other ways to reach your customer and vice versa.

If you are starting your hair extension business from a large scale point, you can be a distributor for hair extension companies.

Profitability

When you invest N 500,000 to buy different types of hair extension that pull traffic in the market such as extensions, wigs made from quality human hair, and other related items to stock. You stand a chance of making N 300,000 returns from your investment.