The rubber slippers business in Nigeria is one of the most profitable, fast-moving, and easy-to-start businesses that could make you a lot of money in a short time.
Due to the high demand for rubber slippers, the business could be a source of daily income. The profit margin of selling rubber slippers is massive, as they are cheap to buy at wholesale prices.
You can start selling rubber slippers anywhere in Nigeria, as it moves fast regardless of location. And this is due to the affordability of the products by many Nigerians.
Although the business is easy to start, you’ll need to understand and get some starting tips to start selling rubber slippers for good profits in Nigeria.
That is why we’ve come up with this post to show you exactly how to start a rubber slippers business in Nigeria. From the cost of starting and profitability, to where to buy, and how to sell for the most profits, you’ll discover everything needed to be known about the rubber slippers business in Nigeria.
Without further ado, let’s get started!
Starting a Rubber Slippers Business
The rubber slippers business in Nigeria simply means buying and selling all kinds of footwear made of rubber. You can start this business as a retailer or a wholesaler. Regardless, the business can be started both on a small scale and a large scale.
Due to the footwear business in Nigeria being a multi-million naira industry, the profits from selling slippers are massive. Slippers are also fast selling across the country, making the business a good one for those looking for fast-moving or daily income businesses.
The market for rubber slippers in Nigeria is large, as you can sell both online and offline. There are also lots of suppliers across the country, making the business a very easy one to start and operate regardless of your location.
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Is Rubber Slippers Business Profitable?
Yes, the rubber slippers business is very profitable in Nigeria. Although this usually depends on some factors.
The first factor that drives the profitability of this business is sales. A lot of Nigerians wear rubber slippers for comfort, and also for fashion (e.g the Croc Slippers). And this keeps increasing the sales because they are very cheap and affordable by a lot.
Another thing that drives the profitability of the rubber slippers business in Nigeria is seasonality. During the rainy season, slippers move faster due to their compatibility with water. Thereby increasing not only sales but profit margin, as sellers increase the prices due to the high demand.
Rubber slippers usually come in new designs and patterns from time to time, making the new types in demand. Since they are new, they are usually costly and come with high-profit margins. For example, the croc slippers that can be worn anywhere, church, outing, work, and so on.
See Also: Top 45 Most Profitable Small Businesses Right Now in Nigeria
How Much Does it Cost to Start a Rubber Slippers Business?
Just like every other business, you’d need startup capital to get the rubber slippers business off the ground. However, the cost of starting this business depends on whether you want to start on a small scale or a large scale.
Starting on a small scale where you’ll be selling to family, friends, neighbours, online, and so on without the need for a shop, or perhaps combining with your existing business, at least N50,000 will do. While on a large scale where you’ll need to set up a proper footwear shop, you’ll need anything from N150,000 to N500,000 to start a reasonable slippers business in Nigeria.
Check Out: 14 Creative Businesses to Start with 10K in Nigeria
How to Start a Rubber Slippers Business in Nigeria
1. Start with a Market Research
To start a rubber slippers business in Nigeria, the first thing to do is market research. Doing this will make you understand the business more. You’ll get to know the in and out, as well as the dos and don’ts of the business.
To start market research, you need to meet with someone already in the business and make some findings including how the business works, how to sell, how much each type/pattern of slippers cost per piece, dozen, or bag, as well as where to buy at the cheapest wholesale price.
Also, as part of your market research, you need to find out the best-selling types of slippers in your area, as well as the new types that sell well with good profits, which you can start with.
2. Arrange for a Startup Fund
After getting to understand the business through market research, the next thing is to get your capital ready. Like I said above, the capital needed to start a rubber slippers business in Nigeria depends on how big or small you want to start.
Starting on a small scale, you can source your capital from your personal savings. While on a large scale, if you don’t have enough to start, you can seek partnership or loan from friends and family to get started.
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3. Locate a Clothing Market to Buy Rubber Slippers in Bulk
After getting your startup capital ready, the next thing is to locate a place where you can buy rubber slippers in bulk at the cheapest prices.
As a retailer, you would want to find clothing markets where there are lots of rubber slippers wholesalers, then buy from the one that is best for you. To get the best result, it would be better to seek the best place to buy from someone already in the business. That is, this should be a part of your market research.
You can get buyers in places like the Onitsha Market in Anambra State, Aba Market in Abia State, and CMS in Lagos State. However, if you’re starting on a small scale (with N50,000), it would be better if you locate a popular market in your area, you’ll always find wholesalers there, although not at the cheapest prices.
If you want to go advance, you can practice the mini importation business model, and buy rubber slippers for cheap prices from China, import them, and resell them for massive profits in Nigeria. You can buy fancy slippers for N200 from China, and sell for N1000 in Nigeria.
Learn More: Mini Importation Business in Nigeria
4. Set Up Your Shop
Unless you want to start selling to family and friends in pieces, or online you won’t need a shop for a rubber slippers business in Nigeria. Selling online can be done by posting your products on several online forums like Facebook groups, or using WhatsApp status as a means of marketing. You can also list your rubber slippers on Jiji, Konga, and Jumia to start selling.
However, if you want to start on a large scale especially, you would need to rent a shop or get a kiosk for your rubber slippers business. While looking for a shop, make sure you go with the one that is located in a busy area, as this will determine how profitable you would be at the end of the day.
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5. Get Started and Start Selling
After getting everything in place from steps one to four, the next thing is to get started with selling rubber slippers. Here, you’ll need to market your business.
If you have a shop for your business, you can display your products outside, so as to make people notice them. You can also market your dunlop slippers business through word of mouth. Tell your friends and family about your business, and encourage them to recommend your business to their friends and family too.
Also, having a shop doesn’t stop you from going online. You can post your products on social media to get buyers. This includes posting in WhatsApp status, Facebook groups, and Instagram pages. Also, list your products on Jumia, and Konga to drive more sales.
6. Expand as You Grow
The rubber slippers business is very easy to grow in Nigeria, and as you grow, you can expand. To expand a rubber footwear business, all you need to do is dive into selling different types of footwear such as high heels, leather footwear, boots, and so on.
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The slippers or rubber shoe business in Nigeria is very profitable to start, as it could become a source of daily income if everything is done right. With this post on how to start a rubber slippers business in Nigeria, I believe you’ve gotten some helpful tips to get started!