Starting a Small-Scale Weavon Business: Profiting in Nigeria’s Expanding Beauty Market

Samuel Mobolaji

Weavon business in Nigeria offers an exciting opportunity for entrepreneurs ready to tap into a growing market. The demand for weavon (hair extensions) in Nigeria has skyrocketed, driven by a booming beauty industry and changing fashion trends.

Aspiring entrepreneurs are finding profitable opportunities in this vibrant market. This guide explores how to start a weavon business in Nigeria, outlining current capital requirements and profit potential.

Understanding the Market

Nigeria’s beauty market, valued in the billions, sees weavon as a staple for many women seeking versatility and style. With the rise of social media influencers and beauty enthusiasts, quality hair extensions have become a sought-after commodity.

Capital Requirements

Starting a weavon business today involves various costs, which can vary based on the scale and type of business model: Initial Inventory: Current prices for quality weavon range from N15,000 to N60,000 ($39 to $156) per bundle of human hair, while synthetic options can be around N5,000 to N20,000 ($13 to $52). For a small startup, investing in an initial stock of about 20 bundles may require N300,000 to N1.2 million ($780 to $3,120).

Infrastructure: If you plan to operate a physical store or kiosk monthly rent can range from N50,000 to N300,000 based on location. Online businesses can minimize these costs.

Overall, entrepreneurs should prepare to invest between N400,000 and N2 million to launch a weavon business effectively.

Profit Potential

The profit margins in the weavon market are robust, typically ranging from 30 per cent to 100 per cent. Here’s a breakdown of potential earnings:

Entrepreneurs can anticipate annual revenues from N5 million to N20 million in the first few years with effective sales strategies and customer engagement.

Building a Brand

Creating a strong brand is essential in a competitive market. Focusing on product quality, customer service, and effective marketing can differentiate your business. Building an online presence through social media and collaborating with influencers can significantly enhance brand visibility and customer loyalty.

With a solid investment plan, strong branding, and a focus on quality, you can establish a successful venture that meets the demands of a diverse customer base while achieving financial success.