In recent years, inflation has impacted every essential: People with regular, fixed income find their earnings insufficient to run a household. Being unemployed is luxury that few can afford.
This is so because owning a garment store is one of the most popular types of business ideas. However, it is still one of the most in demand and dynamic markets in India.
Here are a few pointers on how to start a Ready-made business. Finding Your Niche The first and foremost thing you need to decide while planning your business is what you want to sell.
A garment can mean a plethora of things. So, sit down and decide what sort of clothes really interests you. Decide on a theme or category to help create a specialization and build your market in a particular direction. If you try to sell all sorts of clothes, you only end up confusing the customer and you lose out on opportunities when there is a demand for a particular style of apparel.
Following are a few categories you can consider: Ethnic or Indian clothes—sarees, salwar suits, kurta pajama for men, etc. Wedding wear—sarees, lehengas, sherwanis, etc. Nightwear or innerwear Costume clothing—specialized for stage shows, dance costumes, character costumes, etc.
Maternity specialized clothing Winter wear Apart from all these, clothes always go hand in hand with accessories such as watches, belts, bags, jewelry, etc. So, by keeping a fair supply of those, you can sell them along with your clothes.
However, it is best to start small, gain popularity, and then add other complementary products. Either a fashion designing degree or a retail apparel store apprenticeship would help you overcome the initial hurdles of operating and managing a Ready-made Garments business.
Before you begin to sell clothes, it is essential thus to have a prior understanding of clothes and style and most importantly, keeping up with the recent trends. Finding your Suppliers Once you have decided on the category of clothes to sell, you need to figure out how to go about it.
Where to manage the raw material from and where to hold the production if you plan to design yourself are important points to consider.
Otherwise, manage wholesalers who provide readymade clothes and you need to fit your label after that. Or, you can simply be a distribution center for existing brands, in which case you need to tie up with manufacturers or small-scale designers.
Targeting your Market The essential task before you start any business is to do a study of the market you wish to enter. Conduct a market research of existing garment stores and the sort of clothes in demand.
Figure out who are the best customers for your specialized category. In India, you might think only women constitute the market for clothing, however, in recent times, men have also become quite fashion conscious and are changing their wardrobes with recent trends.
Once you decide on the type of clothes intend to sell, find the gap in the existing market for that and try to fill it with your niche. If your products are completely homogenous with other garment retailers, you will have to face a lot of competition to break even.
Try to sell items which are high in demand but less in supply. Your research should also be done keeping in mind factors such as age group, geographical details, cultures, etc.
Also, take note of the factors that influence fashion such as movies, rock music, comic culture, etc. You need to place yourself in a high visibility area to gain potential customers. You can always open a shop in a mall but you also need to combat competition there. If you plan to open a standalone then neighborhood and localities should be conducive to your business.
The physical premises of the store also need to be carefully looked into—place for inventory stocking, changing rooms, storage shelves, and counters. The appearance of a shop influences purchasing behavior, so make sure you have a neat and accessible store for your customers.
Getting the Investment You need funding for any sort of business, without capital no business can kick start. Write an effective garment store business plan to present to your investors or applying for a bank loan.e-Payment facilitates online payment of Excise Duty and Service Tax by an Assessee.
To avail this facility the Assessee is required to have a net-banking account with any of the banks listed below. Local Travel Agent: Life in Kolkata is too busy, and the city hosts a large population from other parts of India. A travel agency dealing in railway reservation, bus reservation, taxi, etc.
can be lucrative business in Kolkata, however, it may need a small investment! There are a number of things, which tourists can buy in Sri Lanka.
Gems, Readymade Garments, Batiks, Tea and Handicrafts are popular shopping itineraries among the tourists. Find free information about starting and running very profitable Apparel, Dress and Fashion Clothing business in India.
Also learn how do marketing your clothing store business. T Shirt Business Plan, Ideas, I have some previous experience in readymade garments retail business.
A Business Plan – Readymade garment shop Submitted as an Internship Project Report In partial fulfillment of the requirements for the Award of degree of Master of Business Administration – Submitted by Guided by Esha Sharma Lokinder Kumar Tyagi (Internal Guide) BHARATI VIDYAPEETH DEEMED UNIVERSITY INSTITUTE OF .
PMEGP. Government of India has approved the introduction of a new credit linked subsidy programme called Prime Minister’s Employment Generation Programme (PMEGP) by merging the two schemes that were in operation till namely Prime Minister’s Rojgar Yojana (PMRY) and Rural Employment Generation Programme (REGP) for generation of employment opportunities through establishment of.