Oluwatayose Deborah Oluyeye, a graduate of Chemistry Education, has always been particular about representation. For her, how a product is positioned on the shelf matters as much as what it contains. When she analysed the poor treatment to product packaging by many businesses, she launched Nylondepot Enterprise to help change the trend.
By Eberechi Obinagwam
Oluwatayose Deborah Oluyeye, a graduate of Chemistry Education, has always been particular about representation. For her, how a product is positioned on the shelf matters as much as what it contains. When she analysed the poor treatment to product packaging by many businesses, she launched Nylondepot Enterprise to help change the trend.
“I realized that most businesses don’t invest in packaging, not because of money, but because the passion isn’t there. They package anyhow. But for a business to thrive, presentation matters. You need to show customers you value them. Whatever you are selling, package it well”, she told TheNiche.
Business has always been in her blood. After school, she took a corporate job while running side hustles. In 2021, she quit to focus fully on Nylondepot Enterprise. “I knew business requires 100% dedication,” she explains, adding; “When I was working for someone, I knew that I had to give them my all. But then, how many alls can I give? So, I couldn’t split that focus. For me, building my own brand was do-or-die. I needed to be mentally present. I had to quit to enable me give my all to my business.”
Before launching the outfit, she spent five months researching and training to understand the market. “Packaging is vast. I needed to decide which sector to serve. Your brand has to stand for something,” she said.
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She used that period to test products and get feedback. “I didn’t launch while still training. I tested what the market was saying and studied the needs around me. A business has to solve a real problem, it must be able to provide positions,” she said.
As she launched her brand in 2021, people started seeing the value of what she was offering, she started getting referrals from far and near. Today, Nylondepot Enterprise supplies all over Nigeria and even outside the country.
Sourcing for capital
Oluwatayose used her personal savings to start up her business because she already knew she was going into business. “I think before you do something, you should plan for it ahead of time, like a pregnant woman preparing for her nine months of delivery. I saved up funds for it while I was still working, but I needed more. So, I worked with the little I had. I didn’t start with zero naira. I started with something and grew as the business progressed,” she said.
Penetrating the market
Penetrating the market was not easy for Oluwatayose. She said her challenge came from her surroundings. According to her, people wanted quality packaging but didn’t want to spend money on it. “When I started, I had in mind to produce and supply six types of packaging bags, but looking at my surroundings, I realised that people want something but they don’t want to spend money on it. But then, if you want quality you have to spend money on it. I had that challenge but eventually people started falling into it. They realised that yes, this product makes sense and they are getting the value of what they are paying for,” she explained.
“Now we supply from all over Nigeria and even outside, to other African countries, mostly through referrals. We are still penetrating the market because we are still convincing customers,” she added.
Experience
The brand owner of Nylondepot Enterprise said she has had many experiences, but one she won’t forget is when she supplied a large quantity of a product to a company as a sample. Later, another company wanted the same product, she could not get it back because of the first company’s policy.
“They will ask for a sample, then order a large quantity and say they will pay whenever they can. That’s your capital tied down. It’s very funny because I am a vendor. I sell both offline and online. So, I am calculating, I could sell that product and make a profit quickly. But they take large orders, stock them, and pay only when they are done.”
She added: “There came a time when another company needed that exact product. I was with them and thought, ‘I made a mistake. I won’t do that again.”
Breakthrough
Oluwatayose’s breakthrough is that she can smile with what she is doing. “The fact that I could employ people; I know that deep down, I am doing well. It keeps me pushing. That every day I wake up, I know yes, I need to go out, I have a purpose, I have something to do and a target to meet, is a breakthrough to me,” she said.
Business challenges
Logistics forms a major challenge for the brand owner of Nylondepot Enterprise. She complains that the services are too expensive these days. “Everything is too expensive. From trying to ship your products, doing interstate. That is a struggle on its own and when it’s not expensive, you are having the challenge of getting the actual quality people. Logistics companies drive us at times. They delay, and every time they want to accumulate and add to the money. It’s a problem,” she said.
Oluwatayose also said getting funds like grants to expand her business is a challenge, adding that the inconsistent prices of products in the market is affecting her business too. But having a good accounting system helps her manage her customers. “Having a very good accounting system is important. I feel like every business should have an accounting system. Such that no matter what you are selling, no matter how much, you should have an accounting system that includes everything, like your utilities, salaries, etc. That way, you will be able to know what your profit margin is and be able to know how to set your prices,” she explained.
“So, I think that is what has been helping me so far, because I am very diligent when it comes to having a good accounting system and all those things for the business. I don’t second-guess about it. So even when the prices change, I will still have like a little soft-landing distance,” she added.
Japa
She said relocating abroad is fine but then you need to know the culture of the place as a business person. “I need to know if my kind of product is allowed, know about their licensing and documentation and not saying when you get there you will find the solution. This is because I am a business person and I would want to continue my business from there. I need to know if it’s a place that my business can thrive.
“But then, if you are doing well in Nigeria, I don’t think it’s necessary. Nigeria is a great country just that we don’t have good governance. For us, we are still here thriving,” she said.
About Oluwatayose
Oluwatayose was born in Lagos. She holds a B.Sc in Chemistry Education from the University of Lagos. She is the brand owner of Nylondepot Enterprise in Lagos.
Nylondepot Enterprise is a Lagos based packaging supplier specialising in wholesale and retail custom nylon bags, polybags, paper bags, and garment covers. They offer custom brand logo printing and nationwide delivery.
She is an employer of labour and can be reached on; Instagram: @nylondepot; Facebook: Nylon depot; Website: nylondepot.com
