While a lot of people lost their jobs in January, some of them have planned to move towards entrepreneurship. Iyana Ipaja market, being one of the largest markets on the mainland in Lagos can be a honeypot for anyone looking to start a business around the vicinity. However, you must do your research before you decide on the type of products you want to sell.
What you must first do to start a business in Iyana Ipaja
If you’ve frequented Iyana Ipaja, you’ve likely noticed the overcrowded market and makeshift stalls. If you really want good visibility, make proper inquiries about available slots, stalls, or containers for rent or purchase. It’s also important to inspect the location beforehand to ensure it aligns with your business needs. For instance, if you plan to sell foodstuff, you cannot opt for an area dominated by vendors selling ready-to-wear clothes, you must look for a similar area that will fit what you sell.
These products will do well in Iyana Ipaja Market
Some places in Lagos, Nigeria are named according to the goods sold in the areas. This is why it is quite easy for consumers to visit these areas when the product is needed. In Iyana Ipaja, the case is different and you can sell different types of products some of which will be listed below:
Foodstuff
People visit Iyana Ipaja for any type of foodstuff. The truth is several people are selling the same thing already – Fish, meat, pepper, rice, beans and so on. Surprisingly, this high level of competition does not hinder the sales each person gets because every vendor has built a customer base and can expand it if they market well.
Clothing Materials
You can also decide to sell different types of clothing materials or even ready-to-wear clothes ranging from dresses to shirts, trousers and a lot more. If you like, you can take a speciality – sell female clothes, male clothes or children’s clothes. Most times, specialization can earn you more intentional customers.
Snacks/Fast Food
Iyanaipaja is like an office for the traders; this means that they spend a larger part of their days in this market and will depend on food sellers around the market to get their stomachs filled. So, if you sell good and affordable food, people will pay anything to have something good to eat.
Home Appliances
While it may cost a lot to venture into selling home appliances, it is quite a profitable business. Ensure that you are situated at the right location, where people can find you when they come into the market. You can also leverage online marketing and suggest to potential customers that you have a walk-in store if they need to see for themselves.
Beauty Materials
Beauty materials range from skincare products to cosmetics and hair care products. People always have beauty needs; so, if you know your way around these products very well, you can decide to begin a business. While you are in a physical market, don’t leave out the need to do your marketing online too.
Drinks
If you decide to sell different packs of drinks in packs and bulk, it’s a good idea too. When your customers have events, you become their first stop for all types of drinks that will be needed for the occasion. Considering that you would be storing in bulk, you have to be careful with the quality of drinks you sell and always take note of expiry dates.
Frozen Foods
Frozen foods can be fish, turkey, chicken, and many others. However, while considering a location for your shop, think of constant electricity too. Without good electricity, it might not be a good idea to start a frozen food business in the Iyana Ipaja market unless you are willing to invest in a generator that would most likely do the work.
Every day, many sellers stroll into their stalls in Iyana Ipaja to make a living. If you have decided to join the marketplace, take your time, and do careful considerations of the products you are looking to sell before you make a decision. And, as usual, we are rooting for you.
