Business Name: TNK COLLECTIONS
TNK Collections come into existence for the love of fashion by the founder. The mission is to become a platform for luxury fashion connecting fashion designers, creators, curators, clothing makers and fashionistas.
With a humble beginning, TNK Collections has grown into a brand name in Nigeria’s fashion industry. Finding authentic and quality clothing/fashion items for women, men and children is not an easy task especially when it comes to online shopping. In other to solve this problem, TNK Collections started by building trust with customers through physical presence and online sales to customers willing to pay the price for authentic and original items/fashion materials. With TNK Collections, new shoppers and existing customers do not need to worry about getting the right value for the money they spend shopping on TNK Collections.
TNK Collections has a physical presence and deals only in quality and original fashion materials. TNK Collections is known for original wear and brands from the day the business started until this moment and we intend to continue on that path to build a fashion hub that would be known for original, real, and authentic pieces, items and clothing materials.
TNK Collections has expanded to cover all the areas of fashion starting from Woman Fashion, Men Fashion, Children’s Fashion, Women’s and Men’s hair, Body and Beauty, Fashion Accessories, and Sports and Lifestyle. To achieve this goal, TNK Collections is consultations with numerous fashion brands and affiliates all over the world to give Nigeria Fashion enthusiasts and fashionistas the best value for their money.
Looking good and dashing sometimes becomes difficult for people with many choices, at TNK Collections, we have developed a management-customer relationship, where the CEO is available to advise you on the best combination of designers and dressings that will make you stand out at any event you find yourself.
TNK Collections is your one-stop Fashion online shopping outlet that offers the best and an exceptionally easy and convenient shopping experience in Nigeria and beyond.
MEET THE DIRECTOR
Ms. Evelyn Ngozi Onyebuchi is the director of TNK Collections. An astute businesswoman with the determination to succeed, she built the business from a humble beginning and she is determined to get to the pinnacle. The startup was motivated by encouragement from my hubby to be an independent woman. My husband encouraged and motivated me to start something that will add income to the family. Although when abroad, I used to sell fashion Wear to close associates and friends of mine and my husband.
When my husband finished his studies, we returned to Nigeria. Because of the love, I have for fashion and how often I spent on fashion, I was motivated to start up a fashion business. The business started from the living room and my Facebook profile. I will purchase the clothes, model them, and post them on Facebook for sale. I also carry the clothes from place to place in the trunk of my car. From that humble beginning, I was able to rent a shop and gradually with a little finance, I was able to get to the level I am present with the positive mindset that I will get to the top if I can get the right financing.
The Challenges the Business/Market Is Facing:
Normally every business faces some challenges. In our case, the challenge we face is numerous.
First among them is the issue of fake clothes, copies and substandard. The market is flooded with copies of the original products. Those selling copies normally sell at lower prices. Most of the time, the customers will use the price of the copies to price the originals. The good news is that majority of the fashion enthusiast can differentiate the original from the copies.
Another challenge faced is competition. Although the completion is good in the sense that it brings out your best strategy to stay ahead of your competitors. There are numerous fashion shops on every street and market in Nigeria. In other to compete, we have created a brand known for originality and truthfulness. What our customers purchase from us is what they receive. The trust is there and we are striving every day to maintain that trust.
On a general note, the delivery and logistics system in the country is very poor. Despite the recent signs of progress made in the area, there are still some hitches here and there. Home delivery is difficult in remote areas because of poor mapping and addresses. With time we believe that this problem will be sorted out.
The purchasing power of the people is determined by how well the country is doing, we believe that when more people are gainfully employed that more purchases will be made. The per capita income in the country is very poor. With the improvement in the economy, we believe that purchasing rate will increase.
The mother of the challenges we face is the unstable currency. In recent times, the dollar exchange rate to naira has frustrated so many businesses. Today you get at a lower rate, tomorrow it is a different rate. That has made it impossible to have a stable purchasing price and selling price.
Access to funding is the biggest obstacle most startups face in Nigeria. If you approach banks for a loan, they will start demanding non-existing collateral. This country is not a place where the bank will look at the potential of the business startup and fund it knowing that they will be beneficiaries in the end. Nigeria banks don’t take such risks. Imagine getting a loan at an interest rate of over 25% to be repaid in under a year. It is practically impossible to survive at that rate and that is the reason why many businesses and cor-operations go into bankruptcy, they are unable to repay the loan they got from the bank at a such high rate.
Last but not the list is financing. TNK Collections has a bigger ambition. We want to become a household name in the fashion business in Nigeria and with the right financing that is a possibility.
The Opportunities the Business/Market is facing:
With over a population of 200 million in Nigeria, there is this potential that every business will survive if the business owner is focused and make good use of all the marketing tools to get to the potential customers. When we started the number of people that patronize the business is very low, but as months and years passed, we started reaching too many. So far so good, however, we still need to do more to get the desired goal.
With good funding for marketing and expansion, TNK Collections will reach its potential. Recently, we are working very hard to have our online fashion shop. The goal is to have an online fashion shop that will be locally known and as well as one that will be known for selling and marketing Nigerian clothing brands to the rest of the work. It is a huge dream though but with good financing, we have a capable team that will make that dream become a reality.
The world is becoming such a smaller village. People don’t have to go to the market to get what they want. They can be in the comfort of their home and shop for whatever they want. With that in mind, there is an opportunity for TNK Collections to be available when people think about shopping for fashion. That is the goal and with hard work, dedication, and of course good financing, there is a 100 per cent chance that we will be there.
Advice to others about business:
Just like every startup, the fear of the unknown is always there. You often find yourself asking and answering several questions. How would I start? Will I get the targeted customers considering the number of competitors in the market? How will I make mine different that people will trust? If you can provide answers to the aforementioned, the chances of survival are high. I encourage every starter to make the first step. Stay focused, remove pleasure from the business, and set a target, aims and goals. If you work hard and pray as well, definitely the end will be good.
I will also like to advise starters not to wait for the big money to come before you start, you have to start somewhere. No matter how little the capital is. When I started, people made a mockery of me, some went to the extent of calling me out on Facebook, saying all sorts of things, like she is dancing in her small sitting room, and she cannot afford to rent a shop, etc. I have to be honest, I was depressed and affected by their tantrum but I thank God for the kind of man he gave to me. He encouraged me and told me stories of how almost all the successful business people started from their car garages and so on. He told me that those mocking me are helping me to advertise my market online unknowingly to them. His words worked like a magic and motivated me. I started seeing the mockery as a way of promotion and funny enough I got many customers through their comments.
In conclusion, anybody starting any business newly must be prepared for the challenges that come with it. Some will believe you make it. They might try to discourage you but at the end of the day, once you are focused and know what you want the successes will come.
TNK Collections is a Brand you can trust.