‘We need to support young start-ups by buying what they produce’

Arilomo Olarenwaju is the chief executive officer of Arilane Global Ventures, a small-scale footwear-making firm. Olarenwaju, currently a 500-level law student of the University of Lagos, speaks with JOSEPHINE OKOJIE on key challenges he faces while producing footwear for Nigerians. Excerpt: 

Tell me a little about yourself, that is, your educational qualification and work experience, if any?

My name is Arilomo Olanrewaju. I am a 500- level student of the University of Lagos. I am in the Faculty of Law. I am currently the Local Coordinator (LC) for African Students for Liberty, Unilag Chapter. I have a professional certification in Copyright Law and Criminal psychology. I have ten-month professional working experience in Kehinde Akisanya & Associates. Currently, I am the chief executive officer of Arilane, a footwear company focused on providing quality and affordable shoes for the Nigerian populace.

When did you start your business?

I started my business during the fall of 2013, and it’s now two years and five months since I started Arilane Global Ventures, which is a footwear company.

What inspired you to move into the business?

I wanted financial freedom and I realised that achieving that would require creativity and determination. In my quest for skills to be self- employed, I learnt shoe-making and, at a point, I realised it was my only way to financial independence.

What was your initial start-up capital?

I started my business with N50, 000 and it has grown over the years. The business is worth over N800, 000 currently.

Who are your target clients?

My target clients are corporate bodies, academic institutions and anyone who appreciates fashion and has a good taste for shoes.

Have you received any financial support from any organisation?

No, I haven’t received any financial support from any organisation.

How would you say the business has grown since starting?

The business has really gained so much ground from inception till date, all thanks to God.

Do you have employees (full time and part time)?
Yes, I have six employees who work on  contract basis.

What are the challenges you have faced since starting your business?

The major challenge I am currently facing is access to market. Nigerians prefer foreign footwear to locally produced ones. It is only those customers that have patronised your products before that are still buying them. But some would not even buy because they are locally made. Finance is another major challenge. I really want to expand because demand is getting better than they used to be, but finance is limiting that for now.

What is your advice to other entrepreneurs, especially young ones that want to venture into your kind of business?
You have to define your goals as to why you are going into the business. You have to know the price that has to be paid to achieve this goal and you must be willing to pay the price. You must be determined to stay awhen all hope seems lost. Always put God first.