Given the high unemployment rate in Zimbabwe, people have more time on their hands. Why not put this time to use by starting a home based business? If you are creative and passionate about design, cosmetics and beauty this is your perfect chance to earn income in the comfort of your home guaranteeing you flexibility and convenience. You also need to understand the risks involved, requirements and the effects of running a fashion home based business. A well established fashion home business can provide sufficient profits and be the first step you need to join the road to financial independence.
What you need
Knowledge about the type of products
Taking time to consider the type of products you are going to sell helps in building up your line of business. If you choose to focus on cosmetics then you need to analyze, create your own line of cosmetic products to sell. Products must be economical and in high demand. Enhancing existing products is another option to consider and it will give you a competitive edge and distinguish your line of business from competitors. Consider the needs of the different type of customers, for example some are health conscious, others have different allergies and others are from different income classes.
You require passion in order to follow through and be aware of the latest fashion trends. This market has many competitors ranging from shops and malls. But your main advantage is that you can create a more personal relationship with your customers. To add on, your customers may save fuel costs which may be required if they were to purchase products from the city centre or central town. Your products maybe signature products or you can create your own brand.
Most people who run buying & selling home based fashion business get their products from neighbouring countries such as South Africa, Zambia and Tanzania. These countries have cheap and affordable clothing. The fashion products can then be resold for a handsome profit in Zimbabwe. Some even go as far as Dubai and Europe. Dubai is known for high quality and premium fashion products.
Design skills would make tasks much easier, because it can be challenging to pick out or create attractive jewellery pieces. If your jewellery is homemade, you may need talented people to help you come up with designs. Although focusing on making bracelets and necklaces for individuals with extreme taste might for example be more fulfilling. This will tremendously improve sales and income. You can buy quality jewellery in South Africa, Zambia, Europe and Dubai and resell for a profit in Zimbabwe.
These may be handmade or otherwise. These may range from small coin purse to specific purses as required by customers. You would then need different type of materials and designs which you may recommend to customers. Introduce these to close family, friends and your community for review and survey. You will definitely receive honest comments regarding the quality and value of the products. Be open enough to accept suggestions for improvement. You can buy handbags from South Africa, Zambia, Europe and Dubai and resell for a profit in Zimbabwe.
This will serve as a guide in running the business. This process should be done before you start the business. Include the right choice of your products for example, cosmetics, handbags, handmade jewellery and fashion (clothing). Outline your objectives and goals for your business. This process should be taken seriously since it may mean doom or success for your business.
You may need to do a few adjustments in your home and create a convenient working space. If you are not a home owner, you will have to seek permission from the landlord to make the necessary changes to the property. Help from a local planner might be helpful. You have to accept the changes in your personal life as well. In the early stages of the business, you may need to fully commit in terms of time and effort. You will then need to adjust and balance your time between your spouse or family, the business and your personal life.
Depending on the size of your home based business, you may need to purchase a motor vehicle which you can use for deliveries and getting supplies. You also need a computer and internet access. These help you keep track of your website and always stay up to date with fashion trends, jewellery and other products. You may need tailoring equipment if you considering creating your own fashion line for clothes.
Profitability and Costs
With a minimum start up of at least $500 to buy different types of materials for making the product or to purchase products you can cash in at least $1500 a month. As your customer base grows the income earned will increase proportionately. Be careful if you decide to offer goods on credit. It’s always better to deal with customers who pay cash. If you decide to offer credit, then you have to screen your customers and offer credit to reliable customers. Bad debts can cripple your business.
To understand your cash movements and flows open an official business account and track all your business records. Get a personalized business receipt book and translate all your work into writing. Lastly discipline yourself and try not to keep cash in hand as often, put it into your bank account. Maintain a petty cash box and use this only for operational activities.
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