By Ayoola Olaitan
Shippers Guide is the learning page of MMS Plus newspaper. Here you learn the 5Ws and most important ‘H’ on various aspects of shipping. This week, we will take you through a detailed process of how to start a successful perfume business in Nigeria.
Research has shown that perfume business is likened to a get rich quick scheme. However, what they really mean by tha is “nobody uses just one bottle of perfume in a lifetime”. I guess that is right.
Before considering to jump into a new venture, you must determine what the upfront investment will be to ensure everything goes smoothly. Your budget will help determine what type of fragrance, bottling, labeling, quantity and boxing we will be able to work with.
It’s safe to say that we know a thing or two about helping ambitious entrepreneurs bring their fragrances to market. From fragrance development and bottling, to packing and fulfilling orders, we take care of it all so you don’t have to. To make things easy, let’s take a look at how our dedicated team can provide assistance every step of the way.
There are basically 3 ways you can decide to start your perfume business:
Producing Your Own Fragrance/Brand
This is a good way of starting a perfume business. You may be driven by passion for producing your own brand and fragrance. Although this may involve a lot of research and efforts to put it to bed. However, if you eventually come true with this, it may just be all you need to walk in financial freedom all the rest of your life. This means you will need to get all your recipes and form a perfect brand.
Purchasing and distributing/selling of varieties of perfume
In this category, all you need to do is visit a vendor of perfume in large quantities and buy a mix of different perfume brands for the purpose of reselling. Doing this will give your customers more options and help accelerate sales. Unlike having just one brand which will not at all satisfy the taste of all your customers.
You Can Buy A Franchise
A franchise is freedom or immunity from some burden or restriction vested in a person or the right to sell a company’s good or services in a particular area. Of course, right now, there are millions of perfume brands. Therefore you can easily walk up to a good one and request for a franchise to sell their brand. Therefore, of course, you don’t need to make any research or mix any concoctions to form a perfect smell or produce a good fragrance. Well, another important thing to note here is that getting a franchise isn’t free. At times, the cost of purchasing franchise can be so high and outrageous. You must be financially balanced to decide to want to do this.
You need to decide on the way you feel will work best for you. After making your decision, what next?
Developing & Manufacturing your perfume
Once we know which direction you’re looking to explore, you can get to work by creating an aroma the likes of which the world has never seen. It’s all about the fine details. It can take 2-3 weeks to create your sample variation, and you keep tweaking it to your satisfaction. Your main priority is to get the perfect scent that reflects your vision and cater to your demographic.
Choosing the perfect bottle
Next up you need to find the perfect bottle that will allow your spark of inspiration to stand out on the shelves for all the right reasons. Whether you want a popular stock bottle, or something completely unique it is up to you. All that matters is you find a visual that does your hard work justice, and that you fall in love with it the moment you see it.
That way you can focus on what you do best whilst we take care of the finishing touches.
Now that the bottling has been taken care of, you need to turn your attention to the packaging. With years of experience and boundless creativity, they are tools required to create something truly special.
How long does this entire process take?
It’s important to keep a time frame in mind for launching your perfume line. We’ve got the process down to make your perfume launch as quick and easy as possible. The creation for your first perfume sample will take 2-3 weeks, once the perfume is finalized, it is left for maceration for 45 days. This is an important step as the perfume needs to be settled down with it’s alcohol and ingredients before it is poured into bottles.
Ways To Earn Money
Have A Business Plan
Depending on the way you have chosen to start your own perfume business, there is a great need to have a business plan. When Starting your perfume business, simplicity and common sense should characterize planning and strategic decision.
Not having a clear goal leads to death by a thousand compromises. Therefore, before you start up your perfume business, you must be persistent, hang on to your vision and be flexible likewise. Proper planning is absolutely 100% essential in order for any aspect of the perfume business to succeed. Just like a script, you need to keep a business plan to yourself.
Register Your Brand
Just like as hinted at the beginning of this article, you have several options to choose from which you to begin your perfume business. If you pick the second option, then your brand gives you the full rights to market your goods without fear or favor. Furthermore, you have the option of registering your business as a sole proprietorship, limited liability company, and partnership. Therefore chooses a good name for your branch that is catchy and not overly long. When you register your business it gives you a full legal identity to do whatever you want to especially the confidence to operate.
This is also highly dependent on the option you choose when planning to start your business. Capital is very important factor to consider when starting any business at all. Likewise, the way and manner you go about sourcing for the capital also matter a lot. Starting a perfume business requires a lot of money which is equally dependent on how you choose to begin. If you need a store to start your business, that means you need to consider the cost of renting and aesthetics, purchase of equipment as well as the carpentry and security aspect of your business.
Have A Target Audience
If you want to set up your business, there is a high need to have a target audience. You should be able to adequately plan where to set up your business so you won’t run at a loss. You could choose to open your business in a location where people living around there have a high purchasing power.
However, in all this, you cannot underestimate or rule out the power of branding. You have to be original and unique in whatever thing you do. You must choose a perfect location which is both visible to the blind. However, don’t be quick to forget that everything good comes with a high price usually. Pay for a good location and in no time, you will be reaping the benefits.