How enterprising Nigerians earn a fortune selling fashion accessories, others – Nairametrics
As Nigeria grapples with high unemployment, some enterprising members of society are looking for new and legitimate ways to make a living, and one of those ways is drop shipping.
One such Nigerian woman is Oladunni Ayorinde, CEO of Cart Deals, and she is very popular for her business acumen and leadership skills, especially in the drop shipping and fashion industry in Nigeria.
She started her drop shipping business, which later morphed into a fashion empire, in 2013 with a meager N16,000 which she saved by working with one of the telecom companies in Nigeria.
Today it boasts of outlets in Lekki, Ikoyi, Victoria Island, Town Planning Way and Onikan, all in Lagos. It also has outlets in Abuja, Ogun State and the UK, among others, with dozens of direct and indirect employees at these locations.
From a fashion wholesale online store, Cart Deals has grown into a full-fledged drop shipping company, offering a range of fashionable clothing and accessories, with a penchant for working class women of size. plus, as Oladunni says, âNigerians are generally not on the thin side.
âThe fashion house went from importing to local production using imported fabrics, while the finished products would then be sold via drop-shipping.
As the business began to grow with supportive funding from my husband, I quit my job and fully focused on the business. At one point, I sold my car and invested money in the business to develop it further â, said Oladunni.
What is drop shipping?
Drop shipping is a form of retailing where the seller accepts orders from customers but does not keep the goods sold in stock. Instead, in a form of supply chain management, they transfer orders and their shipping details to the manufacturer, wholesaler, other retailer, or distribution company, which then ships the goods. directly to the customer.
How it works
Ajoke, an Abuja-based drop-shipping merchant, explained that the biggest difference between drop-shipping and the standard retail model is that the selling merchant does not stock or own inventory.
âI get images of bags, shoes and other products from Oladunni from Cart Deals or other major players, and I share them on my social media handles, especially Instagram. Sometimes I also get referrals from him. Interested buyers place their orders via social media or call me on my mobile and pay me.
I collect their products from Oladunni, who stores them either myself or through my delivery man and delivers them to the customer. If the client is not in Abuja, I send him to any part of the country after the buyer has to pay for such service.
How To Make Money With Dropshipping
There are two basic ways for operators or investors to make the business profitable. They are explained below.
While Oladunni has not disclosed how much she is making from the business, particularly in 2020, the results have revealed that 2020 is indeed a rewarding year for her business.
While many businesses contracted during the COVID-19 pandemic, Cart Deals expanded into a larger factory in Palm Avenue, from the smaller one in Ilupeju. According to Ola, the border closure was preventing people from importing bags and shoes from China, and Cart Deals stepped in to fill that void.
âIn addition to producing bags and other things that couldn’t be imported back then, we started producing nasal masks and we made enough of them to the point of exporting them. Due to the increase in business we got more hands and bought more machines and with COVID-19 protocols it was imperative to move to a larger warehouse for more space and ventilation â, she said.
Cartdeals Express was launched in 2020, after several attempts to secure a delivery company that wouldn’t disappoint customers. Oladunni explained that the decision to launch Cartdeals Express came almost as an impetus and in response to customer complaints. She woke up one morning and decided to have six delivery bikes to handle the deliveries. Now, the company delivers goods to customers in record time, with just one on hold to handle same-day delivery if the need arises.
In the second category are found investors who have free funds to give âaverageâ operators the mass production of goods.
One such investor, Funmilola Omole, told Nairametrics that investing in such a business pays off for her as she earns up to 35% in four or six months depending on the type of products sold.
She said, âI haven’t had any regrets since investing in such a company. The most rewarding is investing in women’s items like handbags, clothing, and jewelry.
I had thought there would be downtime during the heat of the COVID-19 lockdown, but the reverse was the case as I got my expected 30% returns from Quick Deals Limited, a other drop shipping company. Despite the lockdown, there were so many requests for bags which was shocking. “
Like any other entrepreneur, Oladunni has had his fair share of challenges, but each of these challenges has been a business opportunity worth exploring.
The idea for a clothing line arose when she wanted to buy products online and found out that they were quite expensive. Subsequently, she decides to make them herself and starts with two machines.
âThe problem of getting the right quality of leather and uniquely designed fabrics made me travel to China with the specifications of what the company wanted to achieve the quality of the bags they produced. “ she revealed. This has resulted in high quality bags and shoes that her customers love.
At the end of the line
After encountering start-up issues with the business due to the lack of process and structure, the entrepreneur took the time to restructure the business and define the processes and production steps from start to finish. This has dramatically improved his customer satisfaction rate and catapulted his business many steps forward.