Do you ever make the note while walking by the street and coming across a beautiful store on your way or just casually glanced through an attractive new banner and think of yourself to be an entrepreneur someday and you should be proudly owning a brand of yourself and being your own boss? Yes, it’s an evident desire for every fashion enthusiast who wants this small thought to be huge success one day.
Take a look at this article!!!
Coming to the business point and talking about the apparel industry, it will give a strong confidence boost only to the ones who are truly passionate about fashion and want to turn your ambition to reality just like the other famous designers who sternly inspire you.
Below are the quick guidelines to follow that will help to give a proper shape to your initial thought to start your own apparel business.
THE RIGHT KNOWLEDGE: First of all, it is necessary to have the unique creative drive and have an intense research and learning about the industry. Refer to any of your close connection who knows the industry better, ask questions, take down notes and get yourself updated precisely with the industry knowledge.
THE QUESTIONAIRE:Question yourself, what kind of clothing you will be targeting? For example, Women’s Indian ethnic clothing such as party wear sarees, casual or formals. Who is your target audience? Is it for kids, men’s or women’s clothing? What will be the age groups? What is the target region? Will it be a retail store or online operated fashion e-commerce, for example myntra, samyakk, limeroad etc? Asking questions to yourself clear your track to solve the issues easily and move on with your ideas smoothly.
THE BUSINESS STRATEGY:Make a precise layout of the business plan such as the approximation of startup cost i.e. how much will be the primary investment? How are you going to arrange the amount? Will it be bank loan, loaning from your friend or relative or putting up your own money? Will you be handling the business alone or it will be a partnership? Make sure you recover the amount after the sale of product to be the exact figure of the primary invested amount or more during the initial stage of business. Don’t focus on profit at the commencement.
THE RECOGNITION: To give a good exposure and recognition, you should create a logo design that will give an instant focus to your brand along with honest investment in advertising and marketing which is an essential part of a business.
THE PERFECT LOCATION: Give yourself a good amount of time in deciding on the location of your retail business. Go through the questions like, how much will be the store area? Is it the right place to target your audience? Can you afford the space in terms of balancing it with the rent cost and expected business profit?
THE OPERATION PLAN:The operation of a retail store or business is not a usual job. You have to be there for your customers round the clock. Decide on your store hours, plans about customer care support, pricing of the product, return policies, payment gateways, and delivery mode.
THE EXPOSURE:To make your business grow it is essential to take time from your schedule and attend the events such as business exhibitions, trade shows, and fashion shows. This kind of events helps in the exposure to your brand name, beneficial in getting advice related to finance, networking and solving various other aspects of your business. To stay updated with the trends it is advisable to read the fashion magazines and trade publications.
When you have the right combination of talent and skills nothing is going to come on your way towards being the proud proprietor of your own apparel brand.
Resource – Easy Way to Commence a Apparel Business?