Idea #5: Clothes Exchange

Problem:

Sometimes, people, especially women, have so many clothes piled up in wardrobes and yet complain they have no clothes. What they are saying is, they want new trendy clothes but for the constraints of cash.

Solution:

Set up a clothes shop where customers can exchange their pre-owned but good clothes for new clothes at a fair exchange option. This exchange can take place as a straight 1 for 1 or many for 1.

You may sell the received pre-owned clothes or roll them on in further exchanges with other interested customers. This may be a new business or an addition to an existing business.

Steps to Consider:

  • Stock new trendy clothes to start or partner with a clothes shop or fashion designer to pick the clothes as needed
  • Create clothes catalogue
  • Have potential clients sign up and send them the catalogue to select preferences
  • Process the response and negotiate exchange (This and the previous two points may be automated via an app or website)
  • Research and invest in professional cleaning services
  • Hire clothing specialists

Challenges:

This is Nigeria. People are sometimes reluctant to give out their clothes for fear of some metaphysical injury to them. Also, people will not want to be found wearing a neighbour’s former clothing.

Can the business be sustained? Maybe by employing some creativity or pivots (e.g., a subscription-based clothes club or export) to sustain revenue and profit. These were the most critical challenges I could think of.

Business Gains:

Money to be made from selling clothes (new and pre-owned) or from commissions.

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