How to Start Okrika/Thrift Business in Nigeria – A Guide

How to start Okrika Business in Nigeria

Okrika/ thrift business involves the selling of second hand wearables or clothing items. This business is popular in Nigeria and other African countries. It is Worthy of note that Okrika clothes and wearables are imported mainly from UK, US, China and other developed countries into Nigeria. You can purchase this type of second hand clothing items from both markets in the rural and urban areas in Nigeria as a consumer. Okrika items are imported in bales and weighed in Kilograms (Kg). These wearables comes as clothes, shoes, bags, caps, belts and other clothing items.

Okrika business is profitable in Nigeria if you get a trusted supplier that will sell to you at a good rate. You can start this business from home, as a student or even as a part time business.

Why Okrika Business is Popular in Nigeria

1. It is cheap to start

If you have been dreaming of starting a clothing business and you have insufficient fund, then, Okrika Business can be a good way to start. Depending on your capital, you can go for premium Grade A Okrika bale (first grade) or Grade B Okrika Bale. These bales are weighed in Kg and are sold depending on the grade and weight/quantity. With a capital of N50,000 upwards, you can start Okrika Business. You can also start with a lower capital if you are not buying bale of Okrika.

2. It is widely patronized by majority of Nigerian citizens

Most Nigerians buys thrift/Okrika wears of various grades. The high patronage that the sellers of Okrika enjoys maybe attributed to the cheap cost and varieties of designs and materials that is gotten from it. Also, the majority of the citizens that are low income earners can get their choices from this source when the money to buy firsthand clothes is not available.

3. You may not need a shop to start this business

You can start this business as a student and sell it inside the hostel or hawk it around the hostel. Some people selling Okrika wearables inside Nigerian markets stands in open places or makes use of canopy/umbrella to provide cover for their heads why selling those wearables. You can equally sell Okrika wearables online.

4. You can make good profit from this Business

Permit me to say that Okrika business is a “game of luck”. There are some vendors that have gotten bale with small amounts and in opening these bale discovers that it filled with quality wears thereby giving rise to great profit. The reverse have been the case in few instances.

How to Start Okrika/Thrift Business in Nigeria

1. Make proper enquires before starting

Even before starting to put down your business plan, carry out a detailed research about this business. Ask those already in the business questions and for guidelines. One of the things that you need to know is that Okrika items are classified according to their grades and country like I mentioned earlier, this affects the price. Some of the countries that you will hear their names while buying Okrika bale is UK, China, US, Italy, London and other developed countries of the world and this can affect their prices. The bale is weighed in Kg, thus you can see a 50kg, 100kg bale of Okrika. The weight is an indication of the quantity of clothing items that can be found inside it.

In Nigeria, some Okrika vendors buys in wholesale from Lagos, those that can travel to Cotonou equally do, but you have to know about custom rules and charges before embarking on this journey. Ask those that are into the business the best Okrika bale to buy inorder to make a good profit.

Note: If you don’t have enough money to buy full bale of Okrika, you can buy full bale and share with someone. You can equally buy in slots or pick from those selling and opening bales and resell.

2. Choose a good business location

Your business location will determine the type and grade of Okrika that you will venture into. If your location is a close to a higher institution or an area dominated by youths, sell according to their preferences. This will influence the size and designs that you will go for. This business requires you stay in a satellite position where people will be aware of your business and new arrivals.

3. Choose a good supplier or Source of Purchase

There are business men and women that specializes in the importation of Okrika from different parts of the world. What you need to do is to know the type of Okrika that you want to venture into and look for a good supplier. You can equally go to some Okrika wholesale markets in Nigeria and buy from there.

4. Set Your Prize

Well, one thing you should know about Okrika Business is that you will set your prize after the opening of your ordered or bought bale. This is because you cannot conclude though you may have ordered for a specific grade, it may not always be the same.

5. Arrange your Goods very well

At times, Okrika wearables may come as rumpled or dusty wears. This may not compromise the quality but it can affect the price tag negatively. If you are a retailer, you can dust the shoes and arrange it very well. The clothes can be ironed or straightened and place in mannequins.

Things to Know Before Starting Okrika Business

1. Make proper arrangements and research to avoid buying a lower grade in the price of a higher grade. Be sure of the type of bale that you are buying or ordering. If you want gown, specify it, always be specific with the type of bale that you want.

2. Your supplier will determine your gain or profit. If you buy a cheap bale at an expensive rate, you will not make enough profit from it. Choose a good supplier that will sale to you at a good rate so that you will be able to make enough profit.

3. If you are buying Okrika in bales, you can inform your customers when you normally open new bales so that they will get ready and buy enough as soon as you open it.

4. All the Okrika wears in a bale may not be of the same quality and price. The good ones in a bale will help you to make more cover your money and make profit, at times you may not be able to sell all. When you have made your profit and you have many low quality grades in your shop, you can sell it off as clearance sell.

5. If you don’t have enough money to buy a bale as a retailer, you can buy in slots or pick from those that have opened bale and resell. The cost price will determine the amount you will sell.

6. If you are buying in bale, you need to know that at times, it may not come out as you expected. Don’t be in a rush to open and sell immediately, do a proper calculation and set your price. Do well to know the rate others selling and set your own price.

Now that you have known how to start Okrika/ thrift business in Nigeria, go ahead and open the business. Remember to carry out a good research about the business.

Also Read; Best Places to Buy Cheap Wholesale Clothes in Lagos

Reasons Why Selling of Clothes is Profitable in Nigeria