It is no wonder that this Online clothing Business sector offers some serious opportunities for those looking to start their own home based business or expand an already established one into new markets with lower costs while still being able provide to high quality products at competitive prices points.
The Clothing industry has been a major driving force behind India’s economic growth. It’s one trillion IndustryOnline Clothing Industry Clock 51% growth order volume and GMV (growth merchant value increase to 45% as compared to the last financial year.
“Start your Online Clothing Business by filling the gap between the manufacturers & consumers“
The industry is growing, and there’s no better time than now!
For starting an effective Online clothing Business – you’ll need basic knowledge about the fabric, a right pricing strategy, a tailor
(if you are looking to customised according to clients requirements or alterations if needed), manufacturers, a laptop, and a good Camera to click photos)
8 steps to Start an Online clothing Business in 2022
1. Identify a Need in the market –
Be a disruptor in your business by identifying needs that didn’t exist before. For example, let’s say there is the problem with fast fashion– Come up with recyclable fabric to solve this issue and still be fashionable! OR
When you are looking for high end clothing, say marriage, party wear dresses, mix & match the old one.
Our society is not yet at a point where we repeat the dresses worn once or twice & also mix and match with the old existing one. This is the biggest gap in the society, which is important to minimize, hence your Clothing can spread the knowledge amongst the people to encourage more of such act and making fashion sustainable and affordable for the Consumers.
2. Develop a Business Plan –
Business Plan is about building a strategy for business.
Make a business plan of how much can you expect from your Start-up. A well thought out, executed and measured plan will help ensure that any new company or existing one is on track financially to meet its goals within the first few years in operation. For example if you’re starting with a minimum of 40 k investments, when can you expect a break-even point(no profit -no loss point). The break-even point is the moment where you start making no money but still have costumers. 40k investments should be able to get that break even, so when? Well I would say as soon as possible! Remember: business is all product + marketing strategies!
Being into a clothing industry start taking orders of the product from day 1 without investing too much time on creating stocks. The mistake that I did when I started was stocking too many products all together, which led to inventories, dead stock and lot of stress. Hence, the only suggestion would be spend little, make exclusive designs and sell your stock on all the online platforms like Facebook, Instagram, Etsy, Pinterest and then go for the next product. Build Your Business patiently.
3. Build your Website –
You can’t build a successful business without investing in web development. Well, first off you need to think of the long term. The long-term success of any business depends on building credibility and trust with their customers. The more people know about you, the better chance that they’ll want for you.
A website is your virtual store in the online world, where people are getting to know more of you. Having an awesome site with high-quality content will not only help but also boost traffic and make it easier for potential clients/customers that they can trust what’s on offer! So don’t worry about invest
ments, You can start it at really less price, but most Importantly, don’t miss out this point.
Start being professional in your business by purchasing your domain and a hosting which is your Business in the Online Space. Get It Right Away.
start by buying a Domain & a Hosting from Namecheap & Hostinger , because it’s one of the best.
4. Write Consistent Articles, blogs-
In order to be successful, you need a plan that is going to work for your business. You can’t just hope things come together on their own! One of the best ways in my opinion would have been putting some time into making a schedule beforehand so there are no gaps between posts about what’s happening with this company . The more often we write about our company’s offerings online ( blogs , Facebook etc) ; the easier it becomes for potential clients like to find out why this is so because people are already aware how great these guys work . Persistence pays off over short-term victory which might seem tempting but don’t forget long term success also depends greatly upon having sound business practices such as updated content regularly including photos where applicable.
And moreover, I have come across Many businesses struggle with the question of how their website will look and what type of graphics they should use, but neglecting one very important aspect- Content. It’s crucial for successful business because it contains valuable information that draws people in!
To know more about Blogging, Read this Article
5. Identify your Target audience –
Identifying the target market is vital to success! The most important thing when starting a new business or product, whether its clothing lines like bride wear for women who are getting married; fast fashion aimed at younger customers in college going students with budgets on their hands and no time constraints (like H&M); Alors, (here you go ) “finalize what kind of person will buy them.”
6. Choose a price Point for your Apparels –
You have to decide what price point your business will be in order for it to succeed. If you are a newbie, lower prices may work best. A percentage between 30%-40% should be kept by businesses. Remember, a constant check on the Profits of the business should be checked. Revenue’s are reinvested back in the Business. So, Run the Business for 2-3 years to understand whether it’s generating enough cash flows, If No, it’s time to Revamp the entire Business Model.
7. Market your Business –
When I say marketing, it means reaching out to the customer by providing solutions. People are always looking to reach their desired state from their Current state. They want to buy things from you when you talk about how clothes or fabrics are thrown away after a single use (ex: wedding dresses).
Or the other problem is hoarding too many sarees because there are so many choices available ; hence, you started creating mix-and-match outfits!
Marketing is all about storifying your Experience with the user so that it feels relatable to them and when somebody will relate to your problems will be a part of your tribe (Community)
8. Build your Community –
Make sure, you have your Community built on platforms like Facebook, WhatsApp. The community are the set of people that trust you, no matter what. Don’t just build another business, Build communities where people can share their feedbacks, so that your business will flourish and you will be a Triumph at the end.
Avoid 7 mistakes that I did when I started my Clothing Business
- 1)Too many Inventories all together
- 2)Started with a Minimum price range
- 3)Maintaining my everyday accounts
- 4)Posting regularly on the social media platforms
- 5)Building a strong community & nurturing the community
- 6) Always upgrading my products & services
- 7) Thinking short term , and not long terms for the Business
Conclusion-
If you’re ready to take your clothing business online, this is the perfect time. Make sure that when starting out, all of these steps are followed and a strong foundation laid for success in building an online presence today’s market demands it be seen as well-established . The companies like Amazon ,Myntra, Nyka are giants but we can’t forget about influential bloggers Nihaelethy, Santoshishetty who help shape what consumers think and need.
Clothing is all about the accumulation of filling a market gap, Creating and spread it out to the World, that exist.
Start your Dream Online Clothing Business Now!!