How To Start A Garment Shop In India? – Loan, Business Plan

Everyone enjoys shopping for clothes. But can you imagine yourself selling them on your own? If yes, this article is your ultimate guide.

How to start an online garment shop in India?

To start an online garment shop in India, you should do the following:

1. Determine your niche
2. Get acquainted with your domain.
3. Locate suppliers for your shop.
4. Know your audience
5. Arrange the capital required
6. Take care of your legal obligations
7. Evaluate your channels of distribution
8. Manage your inventory
9. Price your products and services right.
10. Promote your venture.

A garment shop is one among the most profitable ventures in the world. Garment is second only to food when it comes to spending money for most of us. Trends and fashions change almost every day. This allows space for small players to outsmart their competition. Follow the steps given below if you feel that you are one among them:

1. Have a detailed garment business plan

Preparing a business plan is the first step towards success as an entrepreneur. It helps you outline your goals and your vision about your venture. In fact, a business plan is the roadmap to success. Here, you decide your budget. This leads you to the next step.

2. Determine your garment business model

The industry offers you numerous options when planning to start a garment shop in India. Some of them are as follows:

A. Become a fabric manufacturer:

Manufacturing fabric is definitely a profitable venture. But it requires a sizeable amount as capital. The infrastructure too has to be of excellent quality. You need to form a workforce to perform various processes involved; weaving, dying etc. This too requires a huge amount, to spend for an extensive time period.

B. Become a garment designer:

Garment industry is in need of fashion designer. For that, you need to be highly skilled in the field. You also should be updated with the latest trends in fashion and designing.

C. Start a garment retail shop:

As a retail shop, your venture retails garments to the customers. Begin by choosing your platform. You can retail offline or online. You may even use your network for the purpose. If you are good enough, you can trade both online and offline. Your offline arm will include a good marketing team and a well-built brick and mortar shop with highly skilled staff. Your online venture will involve a good website along with a practical marketing strategy.

Read More – MSME & Small Businesses – How Can They Scale-up Business Online

3. Choose the right location

The location of your shop too plays a vital role in the success of your garment business.  It has to be an area that gets lots of traffic. Starting your shop near a mall is definitely a good idea. There, lots of people come and they see your garment shop.

Besides the main store, your shop should contain a reception area, resting space for employees and a place to tag your merchandize. You should build your shop in such a way that it is visible from the road itself. If people can see your store at a glance, they may come and see what is inside.

4. Take care of the legal formalities

See to it that your shop fulfills all the legal requirements to operate in your area. Register with the local bodies.  If your turnover is below 2000000, you should have your GST registration. If you fail here, other reputed firms will avoid you for fear of violating tax rules.

5. Take care of your finances

Evaluate your budget. Decide how much you want to spend for your garment shop in India. Check if you need any external assistance. There are numerous banks and other financial institutions offering business loans. Consider your requirements, your ability to repay and decide accordingly.

6. Be mindful of the infrastructure

Good infrastructure is the key to success for your garment shop. Make sure that your shop has sufficient space to make everything easily accessible. Remember, the design of your store is the first thing that your potential customers see. And it is going to have an impact on your business.

7. Build the workforce you need

Prepare a list of the people you need to run your garment shop. You may need an accountant, a sales person; the list will vary depending on your requirements. Do a thorough analysis and explore the pool of talent to fulfill them.

8. Manage your inventory

Inventory management is a skill you need to smoothly operate your garment shop. You need to stock up on trendy items and clear your old stock. If you are not expert enough, consider hiring a professional.

9. Prepare for the logistic challenges

Whatever is your choice; online or offline, logistics is going to be a tough challenge. Calculate the cost of transportation involved and prepare for it.

10. Build your brand

Know your unique selling point. You may build your brand based on that. Brand can be anything. You may use a word, sound or logo for the purpose. Whatever it is, make sure that it stands apart from your competition. Doing this will help you stay above your competitors. A brand name also makes it easier for your customers to find you.

11. Stand behind your promise

Excellence of quality is going to have the first place when framing your promise to customers. Stand behind them. Be mindful of one fact. You are just one among millions of sellers vying to get customers. Compromising on quality will lead you to the door in the market.

12. Promote your business

Whatever is your choice mode, marketing your business is a must to survive in today’s competition. Build your profile on social media and remain active. Hand out flyers and stay in touch with customers.  You may also organize contests and sweepstakes. Initiatives like these will encourage customers to share your business among their circle of friends. Offer discounts to loyal customers. Gather feedback on improving your service and act upon the comments you receive.