Major Challenge I'm Facing With My Skincare Business - Bisola

Nollywood actress and media personality Bisola Aiyeola is getting very real on a new episode of Keep It Moving and opening up about the major business challenges she's facing with her recently launched skincare business, Brown Girls Magic. During the show, Bisola opened up about the troubles she's facing with the business, and opened up about why she's seriously thinking about giving up. Here's what Bisola had to say.

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Speaking about the problems she's now facing with her skincare business and why she's thinking of giving up, Bisola said:

BISOLA: I thought about giving up yesterday. I haven't really thought about it this morning but yeah, yesterday I did think of giving up. I'm currently facing a major challenge being that at the time when I paid for the production of my products which was what? 2021 I think, the exchange rate dollar to naira rate was I think maybe like 500 or 550 naira I think at the time. Now, exchange rate! I don't want to burst out crying is I think it's almost 2,000 naira. So there's that.

So, I have started to look at probably producing here as opposed to South Korea. If I want to just stick to bringing my product in from South Korea because obviously South Korea, they they are masters at skincare production, it would definitely affect the pricing. And then you know when you're ordering from South Korea, their MOQs are like really high. So it's like oh my goodness, how am I going to, how sustainable is this?

So I have also started looking at Nigerian formulators to see how we can compare, make it better, work on my formulas to see if it can even be better than what we have in South Korea. But you know, with the packaging, my bottles are unique. The colors of my bottles are unique. Something might have to give in the sense that if I want something cheaper, I might have to just work with the availability of bottles that we have in Nigeria and typically they're just transparent. It's just one, it's like a one size fits all type thing going on.

That's where the creativity has to come in you know. You have to be a bit more creative with how your products look. You might have to work on maybe a different type of sticker for it. You basically just have to wake up and rejig and you have to move with the times constantly.

So while I'm still checking out formulators here in Nigeria, I'd just check the books and know if it's going to be more favorable. Is it going to affect the quality of my products? If it is a better quality, why not just produce here in Nigeria.

It's actually even going to be way cheaper with NAFDAC registration for the products produced here. It's way cheaper than when you're bringing it in from outside the country, so that's where I am right now and like I said, I thought about it yesterday like you know what? Just shut this down for a little bit.

What do you think of what Bisola had to say? Let me know your thoughts by leaving a comment either below or on my Jide Okonjo Facebook post.

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