Technology has changed a whole lot of things, and made life and tasks easier. With the advent of technology, most people are able to combine two jobs simultaneously. Hence, investing in monogram and embroidery can be side hustles to augment one’s current job.
To the end, one will need to procure digitalized machines to fast-track his or her embroidery business. Interested individuals can invest in monogramming and embroidery businesses as alternative sources of income. Even If you have a job that consumes all your working days, both businesses can be done on part-time basis.
Speaking to Leadership, Manager of a monogramming company in Ogba, Lagos, Mr Ojo Akilo explains that monogramming is lucrative particularly once the business stabilizes. “I started my own monogramming and embroider business from my savings while I was still working in a firm. Thanks be to God; I have this to rely on during the COVID 19 period when some of us were laid off. Since 2020, this has been my full-time job because of demands by customers,” said Akilo.
He advised interested investors to see the huge market on the horizon, especially as all political parties gear up for nationwide campaigns and will need monogrammed shirts, hats, face-caps, among other materials. Also, monogramming firms can get contracts to monogram gift items for birthdays, burials, weddings, annual general reunions, brand unveilings, etc.
Requirements:
Business Plan
Akilo tasked interested investors to have a comprehensive business plan. The business plan will be inclusive of your source of income, where you find potential clients, how and where you sell monogrammed materials. One’s business plan should be an embodiment of personal plans on how to organize, set up, manage and expand his or her business.
Location
He advises that investors choose the best location for the maximum visibility and sales. To him, “one can decide to run business from the comfort of their homes or rent an office space. Selecting any of the options is left to the investor and should be suitable to their resources. If starting up a business from one’s home, he or she can convert one of the rooms into an office space.”
Join Groups
On his part, Mr Kenneth Aloye who lives in Shomolu/Bariga area of Lagos, charges interested advised potential investors to source customers through personal interactions and advertisement. “Once you are interested in the monogramming business, you need to join many associations and groups so that they can give such monograming works in those groups to you. They will prefer giving their own the monogramming jobs than giving the contract to an outsider,” he said.
