How to Get Started in Establishing a Ladies Clothing Business

In India, women clothing is a booming industry. According to studies, the industry in the country will grow to around USD 39 billion by 2025. The remarkable growth of the industry has attracted many entrepreneurs to enter the women clothing market. And, you could be one of them.

But what happens with many would-be entrepreneurs is that they decide to open ladies clothing retail stores, but they do not know how to start or even where to find ladies clothing suppliers. As a result, they cannot move forward in their entrepreneurial journey.

If you are encountering challenges in establishing your store due to a lack of knowledge about starting, you should quickly acquaint yourself with what to do. 

What you will require is a proper plan that will guide you through the entire starting process. Also, you should find a suitable location to set up your store and source the proper inventory procured from ladies clothing manufacturers at a reasonable price.

Moreover, you should also decide on your long-term goals before you start working on your business. But, there are more things to know that will help you launch your ladies clothing store without any hassles.To successfully start a ladies clothing business in India, you should actuate the following steps:

Formulate a Business Plan

It is the first step in your entrepreneurial journey to set up a ladies clothing store. First, you need to formulate a business plan outlining how you will run the garment business. Typically, a business plan includes:

• The advertising and marketing strategy.
• Mode of financing.
• Hours of operation.
• Employee selection criteria.
• Manner of running the business.

A business plan does not only provide you with a roadmap but also is necessary to obtain financing.

Arrange Finance

Starting a ladies clothing business calls for an investment. So, you need to arrange money to get started and run your business. It will help if you remember that the principal motto of any business is spending money to make money. And, your business cannot be an exception.

You need to invest your money in your business. But, what can you do if you have no money? You should then borrow money from your friends or family members. You can also contact an investor to provide you with capital to run your business. Alternately, you can fund your women clothing business through crowdsourcing.

So, you should decide the mode of financing for your business, depending on your financial position.

Registration

You should register your business as a Private Limited or Limited Liability Partnership (LLP) company. LLP is applicable if your business is a partnership between two or more individuals. You can also register your business as a sole proprietorship firm.

In addition, you should obtain the necessary permits and licences conforming to the area of your business location.If your business involves setting up an establishment or shop, you should obtain the shop and establishment act licence from the respective state government.

But, you should choose a catchy name for your business before you register it.Besides, you should also open a current account with your business name in a bank. And, you should do all financial transactions related to your business with that account.

Location Selection

You should choose the location wisely as it has a significant role in attracting customers and bringing success.You should ensure that the location you choose has the right target audience and is easily accessible.As a thumb rule, you should choose an area where there is less competition--because it will help you get more sales.

However, it is not always possible to get such a good area. So, it will help if you choose a place where many people come daily, increasing the probability of sales.It will help if you consider the following factors while selecting a location for setting up your ladies clothing retail store:


• Visibility from road
• Facility to advertise
• Power availability
• Easy access to the shop
• Ample floor space to display
• Product storing facility
• Parking space for shoppers

Selection of Clothing Types

There are many types of ladies clothing. And, you might not be able to sell all of them. So, what you can do is, decide on the types of ladies clothing that you will sell. Moreover, it is a good idea to carry out market research to identify the types of clothing that can sell well in the area of your store. For example, there can be a need for women's ethnic dress in the area.

Formulate a Marketing Strategy

A prudent marketing strategy is essential to derive the success of your business. Therefore, you should not fail to formulate and implement an impactful plan to attract potential customers and prompt them to purchase clothing from your store. Importantly, your strategy should ensure that you sell better clothes than your competitors. Therefore, buyers can get the best value for their money.

Your marketing strategy will govern all your business decisions. The good idea is to advertise your store in local magazines and newspapers. Besides, social media can also act as an effective advertising platform.

Source Products to Sell

You should make arrangements to source the types of ladies apparel you want to sell. And, for that, you need to choose a manufacturer or supplier. So, first, shortlist a few ladies clothing manufacturers that can supply the clothes you will sell. Then, you can research online to find such manufacturers.

Once you shortlist some relevant ladies clothing suppliers, you need to get in touch with them to express your intent of sourcing products for your store.

But, you should not fail to examine the products of each of the suppliers you shortlist to figure their product quality. Then, finalize the manufacture with the highest product quality. Remember that product quality has a lot to do with the reputation and success of your business.

Purchase a Commercial Insurance Policy

Finally, you should not undermine the need for a commercial insurance policy. On the contrary, you should buy such a policy to guard your business against unforeseen happenings, such as inventory theft or property damage. Moreover, the insurance policy will also help you pay for medical expenses if any employees get injured at your store.

Also, you need to purchase a workers' compensation insurance policy for your employees.

Conclusion

In business, time is money. Now, you have come to know how to get started in setting up a ladies clothing retail store. So, you should take advantage of it and start working on your entrepreneurial venture without wasting any more time.

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