 "How to start a clothing business in India? Here are the simple steps")
If you are planning to set up your own clothing business, then this is the perfect time for it. Research claims that the clothing business is growing significantly. Statista report shows that the e-commerce industry is booming. This industry was worth $102.5 billion, and it is going to reach $153 billion by 2024.
The clothing industry is a multi-billion dollar industry, and it's only growing. If you're thinking about starting a clothing business, here are the 10 steps that you can consider
Start your clothing business in India
1. Do your research
The very first step is to do your own research about competitors and understand the market. What kind of clothing are people buying? What are the latest trends? Who are your target customers?
You can do your research by reading industry reports, visiting trade shows, and talking to other clothing businesses. This research will help you find your market, and then you can decide which section of the society you are going to target.
2. Develop a business plan
Once you develop a market understanding, you need to make a business plan. This will show your goals, strategies, marketing and financial projections.
Entering into the market without proper research can cause blunders for you and cost you way more than the expectations.
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Here is what you must include in your business plan:
- Executive summary
- Company description
- Products and services
- Market analysis
- Marketing and sales strategy
- Operations plan
- Financial projections
3. Choose a business structure
There are plenty of business structures available from where you can choose your business structure, such as sole proprietorship, limited liability company (LLC), partnership, and corporation.
The best business structure for you majorly depends on your current circumstances and goals. Based on your managing skills and funds available you should decide what your clothing business structure is going to be. This will also help you in dealing with the legal documentation of your business as every business follows a different structure.
4. Get the necessary permits and licences
The specific permits and licences from authorised agencies are mandatory to acquire, depending on your location. However, you will likely need a business licence, sales tax permit, and zoning permit. The proper licence will help you run your business smoothly.
5. Find a supplier
Once you have a good clothing business plan and the necessary permits and licences, you need to find a supplier. There are many ways to find the right suppliers to meet your demand, such as trade shows, online directories, and word-of-mouth.
When choosing a supplier, you need to consider factors such as quality, price, and lead time. Good quality always wins, so find a supplier who delivers quality material only.
6. Set up your store
If you're selling online, you need to set up an e-commerce store. There are many different platforms you can use, such as Shopify, WooCommerce, and Magento to run business digitally.
If you're selling offline, you need to find a physical location for your store, if you have one that's great, but if you don't have that then go online and build a strong online presence for your clothing brand.
7. Market your business
Once you have your store set up, you need to start marketing for your business. There are many different ways to market your business, such as online advertising, social media marketing, and public relations. You can also run ads on a different platform to reach more people.
You can even create pamphlets and distribute them to your locality to aware people of your clothing brand.
8. Provide excellent customer service
Customer service is essential for any business, but it's especially important in the clothing industry. Make sure you provide your customers with excellent service not just during sales, but you should also provide after-sale service.
9. Keep up with trends
The clothing industry is constantly changing, so it's important to keep up with the latest trends. This will help you stay ahead of the competition and attract new customers. Follow the latest trends, and join hands with social influencers or marketing companies to produce clothes that everyone wants to wear.
10. Set Realistic sales goals
Setting high expectations from your clothing brand in the beginning is unjustifiable. You should show some patience before expecting a high return from your clothing business. Set realistic goals and put efforts to achieve them gradually. Eventually, you will realise that you have come a long way.