Making money through Okrika business is 100% possible in Nigeria some have become so rich buying and selling Okrika or Tokunbo products as we usually call it. The most interesting part about this business is that it doesn’t require huge capital to start. Anything between 5,000 to 50,000 Naira is enough to start with, keep reading to learn how to start Okrika business in Nigeria.
What is Okrika
In case you are not familiar with the term “Okrika”, it can be used clothes, footwear (slippers, shoes), bags mostly imported from other countries like the USA, UK, Italy, Germany, etc. Many desire Okrika product for certain reasons which includes:
Affordability: Okrika product is mostly affordable compared to new ones and that has been the major reason why people choose to buy Okrika clothes, shoes and bags. If you are living in a big city like Lagos then you can buy clothes for your kids starting from N100.
Durability: Irrespective of the cheap price that Okrika goes for many still believe that used items from other developed countries are more strong and durable compared to locally made ones because Nigeria producers only care to maximize their profit while compromising the quality.
Lack of trust: Some people don’t trust anything made in Nigeria no matter how good it appears to be and that is why even some local producers deceptively use made in China, made in Italy and made in Japan just to trick Nigerians to buy the product.
Why go for Okrika Business?
Okrika business is a guaranteed means of making money that requires small capital and yet involves little or no risk. Following the popular demand for Okrika products, you will surely succeed in the business if you know what you are doing. You will get all the necessary tips on how you can start the Okrika business in Nigeria before the end of this post.
Let’s not forget that the Nigerian federal government is fighting against anything Okrika Business but that fight doesn’t seem to prevent Nigerians from doing their favorite and most lucrative business. Depend on local made Nigeria products will not be easy since Nigeria has the largest population in Africa and still growing.
Tips on how to start Okrika business in Nigeria
Let me share the little I know on how you can make money through the Okrika business with little capital.
Learn the trade and find the secrets
No matter how educated you are, you need to learn what works and what doesn’t work in Okrika business. The best way to learn all the secrets behind this business is to get connected to someone who has been in the business before you.
You might not be able to import used clothes because the importation of second-hand clothes is not allowed into Nigeria. However, buying from the big Nigerian Okrika market is the way out.
Below are some of the popular market place to buy all types and grades of used clothes.
Okrika market – this is located in River state
II. Okrika market – this is located in River state
III. Tejeosho market – this is located in Yaba, Logos state
IV. Aswani market – this is a weekly market(Tuesday only)
located at Isolo, Lagos.
You must know the type of bell you should be going for and what is contained inside, you can go for either of these:
* Chiffon – this usual gowns and tops for women
*. Leggings for women
* Jeans and chinos trousers for men
* Up and down mixed for children
* Suits for men and women
* Complete wares for babies
2. Find a Good location for your business.
Location plays a crucial role in a business that is why you have to decide whether to stay at the roadside, pay for a shop or simply supply to others.
However, staying in a nearby roadside might be the best option in some cases since you pay little to no fee and while staying inside a rented shop will attract more fees. You can spoil to some big boutique that deals on first grade Okrika which doesn’t require any rent.
3. Set a strategic marketing plan
To succeed in Okrika business you must get something’s right. Sort the clothes: since you are not yet a wholesaler you need to sort the clothes by sizes, types, and grades. Some will be of higher quality than the other and should as well fetch some extra money that should cover the low quality or spoiled clothes. Sort them by gades and sell accordingly.
Okrika clothes have the following grades
* Grade A: This is fairly new material, either it has been worn before or not has been worn before and does not have any defect.
* Grade B: This has a small or minor dent like a stain.
* Grade C: This has a major dent, either torn in a vital part, fairly old, or it has been amended.
* Mixed grade: This has little of grade A, B, and C
Wash off stains and unfriendly odour: if you are selling in an open market then you might not need to wash the clothes since you are not going to be spreading it for customers to see but as a retailer, you can make the Okrika look more appealing by bringing the real color and removing stains when you wash it.
Spread the word and get more customers: let your family and friends know that you deal with first grade Okrika clothes. Don’t underrate the power of online marketing, you can use Facebook and WhatsApp to market your business get more buys across the country. You can create a forum and advertise your products on
such websites as Nairaland, jiji.com, olx.com.ng, etc.
* You can hawk your products by carrying them about and to offices, schools, places where there is a large gathering of people.
* You can take pictures of the finest of these clothes and
shoes and send them to your friends
4. Capital (the amount you need to start this business)
You can start with little capital and upgrade once you get used to the system and for that, you only need 10,000 to 20,000 or below. Moreover, the amount you need will solely depend on the strategy used. The good news is that no registration of business name or direct tax is required to get started.
Start from clearance sales. Clearance sales mean that you buy leftovers which are mostly low-grade materials and they are cheaper to buy but you will still sell at a cheaper rate to make a profit. At the intermediate level, you can select and pay, i.e you select from available materials and settle the seller.
At the advanced level, you can buy bales (sealed sacks of used clothes) and sell them either in bales or open the bales and retail the contents
Conclusion
This business is best for anyone who wishes to make some extra cash with little capital. There are other businesses you can start in Nigerian with little capital.