Shoe Making Business Plan in Nigeria

Executive Summary

SoleCraft Footwear is a shoe manufacturing and retail business based in Lagos, Nigeria, focused on producing high-quality, stylish, and affordable footwear for the Nigerian market. With the footwear industry in Nigeria valued at over $1 billion and growing due to increasing demand for locally made products, SoleCraft aims to capture a significant market share by offering customized leather and textile shoes. The business will combine traditional craftsmanship with modern design trends, leveraging local materials and skilled artisans to meet consumer needs.

Business Description

SoleCraft Footwear is a shoe production company specializing in creating durable, fashionable footwear for men, women, and children. The business caters to Nigeria’s growing middle class and fashion-conscious consumers, offering both ready-to-wear and custom-made shoes. By focusing on quality, affordability, and local production, SoleCraft aims to reduce reliance on imported footwear and promote Nigerian craftsmanship. The company will operate a production workshop and a retail showroom, with an online platform for broader reach.

Official Website: www.solecraftfootwear.com (Note: This is a hypothetical website for the purpose of this plan)

Address: 45 Oba Akran Avenue, Ikeja, Lagos, Nigeria

Founder and Owner: Aisha Bello, an experienced fashion entrepreneur with a degree in Business Administration and five years of experience in the retail and footwear industry. Aisha has a passion for promoting Nigerian-made products and has previously managed a successful fashion retail business.

Services

SoleCraft Footwear offers the following services:

• Custom Shoe Design: Personalized footwear tailored to customer specifications, including size, style, and material.
• Ready-to-Wear Footwear: A range of pre-designed shoes, including sneakers, sandals, and leather formal shoes.
• Corporate Orders: Bulk production for institutions such as schools, NYSC, and corporate organizations requiring uniform footwear.
• Shoe Repair and Maintenance: Repair services to extend the lifespan of footwear.
• Online Sales and Delivery: E-commerce platform with nationwide delivery options.
• Consulting and Training: Workshops for aspiring shoemakers to learn design and production techniques.

Market Analysis

The footwear industry in Nigeria is driven by a large population, increasing urbanization, and a growing preference for locally made products. According to industry reports, the market is projected to grow at a CAGR of 5.2% through 2027, fueled by demand for affordable and stylish shoes. Competitors include foreign brands and local manufacturers like Innoson and small-scale artisans. SoleCraft differentiates itself through customization, quality, and competitive pricing, targeting young professionals, students, and institutions.

Target Market:

• Young professionals (ages 18–35) seeking trendy, affordable shoes
• Schools and corporate organizations needing bulk footwear
• Fashion-conscious individuals looking for custom designs
• Middle-class families seeking durable, cost-effective footwear

Marketing and Sales Strategy

SoleCraft Footwear will implement the following strategies:

• Social Media Marketing: Engage customers through targeted ads and influencer partnerships on Instagram, Twitter, and Facebook.
• E-commerce Integration: Offer seamless online shopping via the website and partnerships with platforms like Jumia and Konga.
• Local Advertising: Use billboards, radio, and community events to promote brand awareness.
• Referral Program: Offer discounts for customers who refer new clients.
• Sponsorships: Sponsor local fashion shows and school events to build brand loyalty.

Social Media Accounts:

• Twitter: @SoleCraftNG
• Instagram: @solecraftfootwear
• Facebook: SoleCraft Footwear
• LinkedIn: SoleCraft Footwear

Operational Plan

Location

The production workshop and retail showroom will be located at 45 Oba Akran Avenue, Ikeja, Lagos, a commercial hub ideal for accessibility and visibility. A secondary warehouse will be established for inventory management.

Equipment

• Leather cutting and stitching machines
• Molding and finishing tools
• Design software for custom orders
• Computers and POS systems for retail
• Safety gear for production staff

Staffing

• 5 skilled shoemakers
• 2 sales and marketing staff
• 1 accountant
• 1 operations manager
• 1 e-commerce manager

Legal Requirements

SoleCraft Footwear will register with the Corporate Affairs Commission (CAC) and join the Shoe Makers Association of Nigeria. Necessary permits for manufacturing and retail operations will be obtained to ensure compliance with local regulations.

Financial Plan

Start-Up Costs

• Equipment and machinery: ₦5,000,000
• Workshop and showroom setup: ₦2,000,000
• Raw materials (leather, textile, etc.): ₦3,000,000
• Website and e-commerce development: ₦1,500,000
• Marketing and branding: ₦1,000,000
• Legal and registration fees: ₦500,000
• Total: ₦13,000,000

Revenue Projections

Assuming 500 pairs sold monthly at an average price of ₦10,000, monthly revenue is estimated at ₦5,000,000. After expenses (materials, salaries, utilities), net profit is projected at ₦1,500,000–₦2,000,000 monthly in the first year.

Price Range:

• Ready-to-wear shoes: ₦5,000–₦20,000 per pair
• Custom-designed shoes: ₦15,000–₦50,000 per pair
• Corporate bulk orders: ₦3,000–₦10,000 per pair (depending on quantity)
• Repair services: ₦2,000–₦5,000 per service

Funding

SoleCraft Footwear will seek ₦15,000,000 in funding through a combination of personal savings, a bank loan, and investor contributions to cover start-up costs and initial operations.

SWOT Analysis

Strengths:

• High-quality, locally made products
• Customization options
• Strong online presence
• Experienced founder

Weaknesses:

• Limited initial production capacity
• Competition from imported brands

Opportunities:

• Growing demand for Nigerian-made products
• Expansion into other cities and export markets
• Partnerships with e-commerce platforms

Threats:

• Fluctuating raw material costs
• Regulatory changes
• Economic instability affecting consumer spending

Conclusion

SoleCraft Footwear is well-positioned to thrive in Nigeria’s growing footwear market by offering affordable, stylish, and locally produced shoes. With a focus on quality, customization, and strategic marketing, the company aims to become a leading brand in the Nigerian footwear industry within five years.  imitate