ThriftLane — Thrift (Okrika) Fashion Resale in Nigeria

Business Plan

Financial Snapshot

Executive Summary

ThriftLane is a Lagos-based fashion resale business curating quality second-hand (Okrika) clothing, shoes, and bags sourced from imported bales and sold through Instagram/TikTok live-sales and a physical market stall. The business targets Nigeria's fast-growing affordable-fashion segment — an estimated 60–70 million urban consumers who wear Okrika regularly but want curated, presentable picks rather than digging through disorganised bale piles.

ThriftLane's core edge is curation and content. By sorting bales rigorously, photographing/steaming first-grade items, and hosting high-energy live-sale sessions, ThriftLane converts social media reach into same-day cash sales at 3–5× bale cost per item.

Key numbers (Year 1 targets): • Startup capital required: ₦850,000 • Projected Year 1 revenue: ~₦5.4 million • Gross margin target: ~52% • Break-even: Month 4 • Year 3 revenue target: ~₦18 million

ThriftLane is intentionally capital-light. A single bale of mid-grade Okrika clothing costs roughly ₦60,000–₦120,000 in 2025 and yields 80–150 sellable units; first-grade items resell at ₦2,500–₦8,000 each, generating strong per-bale spreads even after dead-stock write-offs. The live-sale format drives urgency, eliminates most inventory holding risk, and builds a loyal repeat-buyer community.

The founding team combines fashion-buying instinct, social media content creation, and market-stall logistics. ThriftLane is not dependent on a single platform, running dual-channel (online + physical) from day one.

The ₦850,000 seed ask covers initial bale stock, stall setup, photography/steaming equipment, and three months' working capital. Funding is sought from a personal investor or microfinance facility. ThriftLane is designed to self-fund growth from Month 5 onward.

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Company Description

Legal name: ThriftLane Business type: Sole proprietorship (to be registered with CAC as a Business Name) Location: Lagos State, Nigeria — initial stall target: Yaba, Tejuosho, or Surulere market corridor; online operations Lagos-wide with nationwide delivery via GIG Logistics/Sendbox Founded: 2025 Sector: Retail / Fashion Resale (Okrika)

ThriftLane's mission is to make well-curated second-hand fashion accessible, destigmatised, and genuinely enjoyable to buy. Nigeria's Okrika market has existed for decades, but it remains largely unbranded, disorganised, and unappealing to younger, image-conscious consumers. ThriftLane fills that gap — it is the edited, social-first thrift shop.

Core activities: • Sourcing imported clothing bales (Grades A/B) from Mile 12, Apapa, and Cotonou-linked suppliers • Sorting, steaming, quality-grading, and photographing every item • Selling through bi-weekly Instagram/TikTok live-sales and a permanent market stall • Building repeat purchase through a WhatsApp broadcast loyalty list

Values: • Curation over volume — only first-grade or strong second-grade items reach the sales floor • Affordability without compromise — ThriftLane targets the ₦2,500–₦10,000 price-per-item sweet spot • Sustainable consumption — resale extends garment life cycles and reduces textile waste

ThriftLane will register its CAC Business Name within the first 60 days of operation, open a dedicated business account, and maintain clean books from day one to support future credit access or investor reporting.

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Problem & Customer

The problem has two sides.

For buyers: Quality Okrika exists in Nigeria's markets, but finding it is exhausting. Shoppers wade through enormous unsorted piles, encounter inconsistent sizing, and often feel embarrassed shopping in chaotic bale-dump environments. Younger urban Nigerians — aware of global thrift culture through TikTok — want the product but not the experience of traditional Okrika shopping.

For the market: Most Okrika sellers are commodity traders. They sell by weight or in bulk lots and do not invest in presentation, storytelling, or customer relati