How to run a successful gift card business in Nigeria.
So, you are interested in starting a gift card business in Nigeria, but you are still on the fence. You can’t decide if you want to commit to such a business. This article gives a detailed description on how to run a successful gift card business in Nigeria. We’ll begin by convincing you that gift card business is not such a bad idea.
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Why You Should Start a Gift Card Business in Nigeria
Gift cards are used in this age for a variety of purposes, some of which makes the business a profitable one.
- They are ideal for any type of occasion. Whether it’s a wedding anniversary, graduation or birthday, a gift card is a perfect gift.
- They are used to express care and affection. Due to this reason, people will spend a decent amount of money to purchase gift card for their loved ones.
- People are starting to embrace the use of gift card. They won’t accept presents of it’s not gift card.
I’m going to stop at this point. I believe of you are reading this article, you have already made up your mind to start a gift card business in Nigeria. The only problem is that you don’t know how to begin. I’m going to show you how, read on.
Starting A Successful Gift Card Business In Nigeria
Like most other businesses, gift card business can be both rewarding and enjoyable. It depends on how you handle it. Here are some tips to help you have a start a successful gift card business in Nigeria.
1. Do Your Research
The first thing you have to do to have a successful gift card business in Nigeria is a research. Go around different gift card stores, find out what they are doing right. Most importantly, pay attention to what they are not doing, which gift card they are not producing. That is the vacuum you need to start your business, fill it.
2. Be Unique
What you need to understand is that you are coming into this business late. As such, the major thing that will set you apart from your competitions is; uniqueness. Being unique doesn’t have to cost you extra. It might be something as simple as the artwork design of your gift card, or the messages inscribed in them.
3. Pick A Specialty
You have to carve a niche for yourself in this business. Decide what type of card you want to be known for, funny pictures, messages, etc. Pick a specialty and stick with it.
4. Purchase Material and Stock
If you want to use a handmade card, you’ll need a couple of materials for it. These are colored pencils, colored papers, pen, glue, and other additives. If you want it printed, get photo paper, printer, and a desktop publishing software. Decide what type of card you want to make, and get the materials.
5. Write A Business Plan
You need a detailed business plan that will reflect your start up expense. It must reflect how you intend to advertise, where you intend to get your supplies and how you intend to attain your goals. Your business is doomed to fail if you don’t have a good business plan.
6. Get A Business License
Depending on where you intend to operate, you may need to get a business license to work. Here is the thing, you don’t need to have a office step yet to start your business. After getting your license, you can start your business in a basement garage or in your dining room. Just start.
7. Customize Your Gift cards
You can create custom gift cards with the faces of your customers on different varieties. Not only is this cheaper (no need to hire a model), it makes your customers feel like part of the business. Of course, it is preferable that all these are done in a digital format. That way, you can create high quality card for a cheaper price. You can create different custom-made cards for different set of customers.
8. Advertise, advertise, advertise!!!
This is the final, and the most important step in starting your business. At this stage, you have to figure out how to get your business out there to the customers. How are you going to convince people to buy your card?
You can start buy asking local businesses in your area to display your cards, sell gift cards at events and ceremonies. You can even go the extra length of creating and advertising budget. Put away a substantial amount of money for flyers, posters and business card. Of you have a website, get indexed on different search engines.