Tailoring Business Plan In Nigeria – Feasibility Study
EXECUTIVE SUMMARY OF THE TAILORING BUSINESS PLAN IN NIGERIA
The following report and recommendation relates to the proposal of MIRACLE TAILORING AND FASHION DESIGNS to establish tailoring enterprise
at university of Nigeria Enugu Campus (UNEC) and Enugu State University of sciences and technology (ESUT).
The project will require of start up capital of N1,105,950 made up of 405,950 for fixed assets and N700,000 for working capital
The vision of the business is to be an extraordinary and outstanding provider of tailoring services in Enugu especially university of Nigeria Enugu Campus and Enugu State University of Sciences and technology
The project will be located within the two campuses because of their easy access to the target market from that location.
A huge market is available for the business to serve.
The financial projections show that the project would be financially stable and liquid by the time it matures. The sales figures stand at N1,570,000 for year 1, year 2, year 3 respectively. The profit after due considerations of the expenses are 1,140,000 for first year, 2,400,000 for year 2 and 3,560,000 for year 3.
The cash flow position is equally good and encouraging by the second year through the third year.
The competitive edge of the enterprise lies in its ability to use best cotton material gotten from reliable dealers in sewing my products, use of discount strategies and ensuring that my products get to the market at highly affordable prices.
From the point of view of the analysis of our findings, the proposed project is found to be technically feasible, financially viable and economically desirable. Thus, the project offers good investment benefits and is therefore highly recommended for implementation.
2.0 Introduction of Tailoring / Sewing Business Plan In Nigeria
The planned MIRACLE tailoring project is the result of assessment studies undertaken in Enugu specifically University of Nigeria Enugu Campus and Enugu State University of Science and technology. The studies unveiled that the demand for good and quality clinical and pre-clinical lab coats, theatre gowns, natives and traditional wears is high among students, while there are few tailors to meet with this demand. Also it takes an experienced tailor to be able to sew this cloth material according to the standard and style expected from the university, and, I being one of the students that use this product often will be in the best position to provide them.
To be an extra ordinary and outstanding provider of tailoring services in Enugu particularly in the University of Nigeria Enugu campus and Enugu state University of Science and Technology.
To use the best cotton materials in sewing the clothes at affordable prices for students thereby adopting good marketing strategies to achieve my aim.
Key Success Factors
The use of best cotton materials gotten from reliable dealers in sewing
Use of good advertisement strategies to get products known to all and sundry
Further trainings in entrepreneurship to know new ways to best manage the business
Existence of trustworthy and accessible market outlets
2.4 Inherent Risk
a. The establishment of this business might attract competitors.
b. As a student there will be a divided attention as this business will be conflicting with the time allotted to my studies
c. If I establish my enterprise in university environment will it stand the test of time in event of any demolition of structures inside the campus?
d. There are plans to use effective methods to checkmate these identified risks.
2.5 Business Ownership
The business is a sole proprietorship entirely owned and managed by Miss Obioma Oluebube Miracle.
The MIRACLE tailoring project is located at University of Nigeria Enugu Campus and Enugu State University of science and technology what induced the choices of this location are
Its closeness to Ogbete market at Enugu where I can possibly get raw materials easily which includes cotton
There are buildings in the campus environment which I can rent easily.
Its closeness to students thereby reducing the transportation risk
There is reliable electrical power supply for the machines I will be working with.
There is good road network and ease of market access.
Information from survey carried out shows that about 45,000 clinical and preclinical lab coats are demanded yearly 27,000 theatre gowns yearly and 30,000 native wears yearly are demanded among students in Enugu State University of Sciences and Technology and University of Nigeria Enugu Campus. A total of 102,000 cotton products are demanded yearly in Enugu. These figures keep rising because more people now go to the University. The current dealers are only able to meet up with
37 % of the demand thereby leaving about 63%demand –supply gap implying a huge market available for new entrants into the business. This gives hope to individuals who want to undertake the enterprise.
3.0 Products off the Tailoring Business Plan in Nigeria
MIRACLE tailoring services will provide the following products:
Clinical Lab Coats
Pre-Clinical Lab Coats
Natives and Traditional wears
3.1 Product Description
Clinical Lab Coat
This is a white overall cloth covering greater percentage of the body. It is worn by medical doctors, radiographers, Nurses and students in college of medicine during their clinical postings in the hospital, when this product is ready I will sell it to these classes of persons.
Pre-Clinical Lab Coats
It is almost the same with clinical lab coat; the only difference is in the length. Pre-clinical lab coat is longer and so covers greater part of the body. It is worn by all second year students in the college of medicine both at University of Nigeria Enugu Campus and Enugu State University of Sciences and Technology during their practical exercises to shield and protect them from dangerous chemicals. I have plans of selling this particular product to them.
This is worn by medical doctors before they enter the theatre room, also 5th and final years in medicine during their clinical experience. It is made to protect both the patient and medical personnel from cross infection. I have plans of making it available as soon as possible before they start this clinical posting which is normally as from July up till they graduate.
Natives and Traditional Wears
This is worn by students and some campus fellowships during their week activity. The whole departments in the faculties we have in the campus usually have programme, they call this week. During this programme, cultural exhibition is done among the things we normally have and students are to appear in their respective traditional attires. I have plans of getting my product ready before this cultural activity so that students who do not have traditional attires can get theirs from me.
To provide tailoring services effectively, it entails purchasing a lot of items, raw materials and machines required to provide this services. Also l will have to rent an apartment in University of Nigeria Enugu Campus and Enugu State University of Science and Technology respectively. The items I will need are threads of different colours (white, black, yellow, red, green etc) buttons of varied colours, machines of various purposes for sewing, pressing buttons, weeping. Etc. Below is the table of the cost of the items, I will make use of, the prices are not fixed.
GET THE COMPLETE TAILORING BUSINESS PROPOSAL / FEASIBILITY REPORT. To place an order, pay N10,000 to
GTBank (Guaranty Trust Bank)
Account Name – Chudi-Oji Chukwuka
Account No – 0044157183
After payment text your name and e-mail address to 08060565721 and you’ll receive your TAILORING BUSINESS PLAN / FEASIBILITY STUDY IN NIGERIA.