One of the fastest rising sectors of the Nigerian economy is fashion design. This is why many young people are in search of a fashion design business plan in Nigeria pdf. The truth is that before you begin any business, you need to have a business plan.
With an efficient fashion business plan presentation, you are sure to make a huge mark on the sector. This is because a tailoring business plan pdf acts as a guide for you the business owner. It also provides the necessary figures required by an investor.
The bottom line is this, don’t attempt to begin a fashion business in Nigeria without a fashion design business plan in Nigeria pdf. In this post, we will share a few details regarding the contents of our plan as well as what you need to do to become a fashion designer in Nigeria.
What our fashion design business plan in Nigeria pdf will do for you
Many young people today are in search of a sustainable means of income. This is because of the condition of the Nigerian economy. The rate of unemployment is on the rise just like the number of graduates churned out of the universities yearly.
This translates to a huge need, people are seeking for means of survival. Most of the young people have put aside their certificates and making use of their skills to open businesses. One of the most common businesses today in Nigeria is fashion design.
Being a skilled fashion designer doesn’t necessarily mean you will make it in the business. You must also be able to run the business effectively and most of all, you need capital. All of these will only be achieved if you have a well-written fashion business plan presentation.
We understand that it can be difficult to write one so we have offered to provide you a fashion design business plan example pdf. This will save you the stress of thinking about what to write.
What Does Our Fashion Design Business Plan in Nigeria PDF Contain?
This is one question we get very often. The contents are tailored to suit the needs of your business as well as the industry. We have put together this business plan to carry the exact pieces of information required by banks and investors.
Check out the contents of our fashion design business plan in Nigeria pdf below:
Table of contents
This part of the plan contains a list of items expected in the rest of the plan. It is like a guide so a person reading through can easily pick out the needed pages with ease. In essence, this part of the fashion design business plan in Nigeria is for easy navigation.
This part of the business plan, though comes in at the first spot, is written last. It is the summary of the whole tailoring business plan pdf. It has a little of the introduction of the company, the vision and mission, the business description, and a summary of the projections.
When a person picks up your business plan, they need the abstract to give them an overview of the plan. This is why it should be concise, mostly on a page, and very interesting.
No one wants to invest in your business without having an idea of who you are. This is why you have a company overview. It provides specific details about your business that the investor wants to know.
It is not just for the investor, it also helps you as the business owner. This is because you give your business a structure in this section of the plan. These are some of the details contained in the overview:
- Mission statement
- Vision statement
- History of the company
- Current status
- Succession plan
Description of product and services
The peculiarity about the fashion business is that the entrepreneur offers both products and services. This is way different from many other businesses. It is therefore imperative that you provide a vivid description of the products and services you will provide.
You don’t need to delve too deep except if the business plan is for your eyes only. This is important to protect your ideas as there have been situations where investors steal ideas because they have the capital.
Industry and market analysis
This section of the fashion design business plan in Nigeria pdf makes the reader know how much you know about the industry. If you are not well-versed in the industry, you are not likely to make a lot of headway.
Investors want to know if you have scrutinized the industry well. This will make them know how capable you are of running the business. Some of the contents of this section include:
- An overview of the industry.
- Industry analysis.
- Market analysis.
- Customer analysis.
- Competitor analysis.
- SWOT analysis.
Penetrating into the market with your products and building a brand is different from knowing the market. Many people know the market situation and can provide statistics yet they cannot make much profit. This is because they are poor at marketing their ideas and products.
It is important that you are able to state in clear terms how you propose to present your products. The pieces of information in this section include:
- Target market overview
- Product/service strategy
- Pricing strategy
- Distribution strategy
- Promotion and advertising strategy
- Sales strategy
- Marketing and sales forecast
- Value proposition
One major challenge with businesses in Nigeria is the operations. The truth is that when a business is poorly run, it will fail, no matter how well the other aspects are planned.
This section of the plan tells how you plan to run the business with respect to manpower. Some of the key aspects of this section include:
- Operations strategy
- Scope of operations
- Operating expenses
No business owner wants the business to die after they exit this world. This means that you need to put together a plan for business development. It provides information to the reader on how you plan to grow the business.
Contents of this section include:
- Development strategy
- Development timeline
Management is the sailor that runs the ship of any business. If the members of management are poor in dispensing their duties, the business is likely to crash no sooner than it started. This is why you must be intentional with the people you are choosing to hold management positions.
Details of this section include:
- Company organization
- Management team
- Administrative expenses
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We cannot put together a business plan and not mention financials. Most people regard this as the business plan itself. This is because it contains all the necessary projections of the business with respect to income and expenditure. Details include:
- Financial assumptions
- Financial forecasts
- Risks involved
All your graphs, diagrams, calculations are placed in this section of the business plan. This is usually the last part of the plan. The information provided in this section include:
- Income statement for at least 3 years
- Balance sheets for at least 3 years
- Ratio analysis for at least 3 years
- Cash flow statements for at least 3 years
The cost of a Fashion Design Business Plan in Nigeria PDF
You are probably wondering how much this business plan will cost. It really doesn’t cost so much as you can get one for N20000. You are assured of a professional delivery loaded with the necessary figures you need.
Fashion Design Business Plan – Conclusion
A fashion design business plan in Nigeria pdf is very important if you want to start up a fashion design business. Therefore, you need one today for a smooth start of your venture.