MAKE HUGE MONEY SELLING SECOND-HAND CLOTHES

The booming business of Okrika popularly also known as “tokunbo” , "bend down select” or fairly used wears (shoes, cloths, and other personal items) has grown in leaps and bounds with high yield in profit.
Though not all the wears have been previously used, though most are as they are cast offs or donations to charity organizations, but others are fairly new as they can be sold at high discounts by shopping malls to get in new merchandise or traded off. Okrika is one of the few businesses you do not need an advert for and requires little capital.

Note: Throughout this post, the term ‘clothing’ or “wear” refers to clothes and fashion accessories such as underwear, bras, belts, ties, scarves, gowns, tops, blouses, shoes, socks, shirts, dresses, trousers and… anything you can also think of!

In this present time, even with the government’s prohibiting used clothing as contraband, (there are arguments for and against this, but that’s for a later discussion), the multi-billion dollar clothing market in Africa continues to grow and there are lucrative opportunities that lie within it. We also look at factors such as affordability, brands, quality and taste for local and foreign fashions that determine the choices Africans make about their clothing.
For those of you who are considering doing the business, I will like to discuss with you the beauty, business and challenges involved for you to decide if the sale of used wears is the best for you.

10 REASONS WHY SELLING SECOND HAND CLOTHES IS A PROFITABLE BUSINESS
1. It is cheaper, many can practically get a designer item for a fraction of its price if they don’t care if it has been worn before or not and many are not bothered.
2. It is popular among the upwardly mobile youths and middle-age population who are living with tight budgets ( especially with constant increase in rent and transport fare in big cities) but have to look good or the fashion conscious who are willing to spend money in acquiring more clothing items. More so, the population keeps increasing and70% of Nigeria’s Population are youths( students, self –employed, young parents, housewives,teens e.t.c) which also means the need for clothes is increasing
3. Fairly used wears are more durable than fake new ones ( as suggested by many)
4. Power of choice, you have different selections to choose from and according to your pocket as there are different grades and prices.
5. Requires little capital and less /no advert. They are easily recognizable and attracts attention anywhere they are displayed.
6. It has added advantage of a mobile market, that is one can move the goods from area to another (churches, schools, offices, roadsides, cars) to sell them faster.
7. Ready market, you can resell to individuals either online or physical contact. it has been proven that there is high demand for clothing items. Lots of Boutiques and individuals also buy these products to resell, just visit the shops in Ikeja, Yaba, Oshodi, Dugbe , Aleshinloye, Surulere and many others , many have a mix of the real and not so real deal.
8. High turnover especially during festive seasons, second to food, clothing is the next profitable business and necessity in a human’s life.
9. Requires little or no education but will to succeed, extra efforts and perseverance. Infact it can be an alternative source of income while still keeping your main job. Taking time to study fashion trends and customer’s buying patterns also helps in determining future market’s needs.
10. The sale of clothing items is already a money spinning business for many, and has great future prospects, you can evolve to invest heavily in the clothing and textile industry in the country as you progress, and when that happens, you would have had adequate experience and information about the industry.

HOW TO SELL TO HAVE HIGH YIELDS
You can get a shop to display your goods, do a mobile market or sell from home for the main time, the most important thing is to consider your location, prospective client base and how much time or resources you are willing to spend in marketing your business.
Have a reliable source of supply to always meet up with demands and avoid disappointing your clients.
1. Put in place a laundry and mending service to wash, iron and restitch any dirty, stained or torn clothing for it to be in a good shape and have a clean smell. (for those that intend to set up a boutique with it)

2. To have high turnover at the start of the business, don't compete with high end markets, except you are sure of your clients base and patronage. For example, if you buy a bale of chiffon tops at N110,000, there is possibility you will get 300 extreme quality out of 500 or more, say you sell at N500/700 each that’s a sum of N150,000, excluding transportation, delivery and rent costs, yyou can make a tidy profit of N40,000/100,000 on each bale, which is enough gain, (remember you still have about 200 extra remaining which you can sell at the rate of 300,200,100) imagine you get to sell 5 bales in a month.You can plough back this gain to reinvest in the business and get more goods unlike keeping and holding on to stock just because you want to obtain higher prices for them and you manage to sell 2 or 3 bales, the market wont move and your turnover will be low. So be wise.
3. Have good customer relations, to make your clients keep coming back and increase your referrals, talk to colleagues, friends and family members, they are your first marketers. Put posters, fliers in conspicuous places and other shop outlets if you have them to increase your business’s visibility. Give discounts to customers who make repeated purchases. Satisfied customers means repeated businesses.

4. As you improve on the business or right from the start, differentiate your own products by adding uniqueness and class to the packaging of the fashion items. Store them in airy, well lit, ventilated spaces to prevent bad smells caused by stuffiness or mildew. Get hangers, racks, packaging boxes to prevent water spills, insects, place price tags and labels to give good presentation, reduce haggling and attracts client easily.
5. Keep a record of all sales, items in stock profits and loss, be accountable for your business, pay your taxes, start a savings plan. Hire professional staff to help with the running and daily activities of the business as it grows. Separate friendship from business, discourage selling on credit and people owing you especially if your goods are reasonably priced. Have time for the business, especially in the first year of starting it to enable you have a good idea of what the business involves as this period is still a learning process. The first year will determine if you can continue and succeed in the business, but with adequate determination, it should be an easy journey
Tip: Bras, chiffon gowns, corporate gowns, chiffon tops, cotton tops and baby wears are the fastest selling items.

SPECIFICATION AND PACKAGING OF USED WEARS
Okrika is sorted and graded based on the following features: Quality,size,gender, neatness, grades (A,AAA,B,C, higher grades are costlier), Designs, weight, Intended user(adult, women, men, children). Bales(large bundles) are packaged containing tops, blouses, shirts, gowns, trousers, sweaters, bump shorts, socks, scarves, ties, belts, bras, shoes, bags, baby wears, with each bale containing over 500 to 1000 pieces in it depending on the weight (55kg- 120kg).

Bales always in stock are:
Ladies cotton tops, Ladies chiffon tops, Ladies cotton gowns, Ladies polo gowns, Ladies chiffon gowns, All corporate gown Bale, Ladies trousers, Ladies office skirts, Ladies polo skirts, Ladies flared skirts, Ladies fashion jackets, Men office shirts, Men T-shirts, Men trousers, Children mixed wears, Children trousers only, Children shirts only, Children skirts only, Leggings, Bras, Pants, Swimming wears, Bed sheets and towel bales etc

The other things required will be clothing racks, hangers, labels and price tags. You will be needing storage boxes for small items like baby socks, scarves, ties and belts.

See you on the other side, while I await your comments and experience.