The Comprehensive Business Plan to Start a Retail Store or Private Label Shirts Brand
The clothing industry is blooming and facing the golden era today. Investing your retail or private label business in the garment sector now would be perfect, and help you achieve milestones, if done with a concrete plan. This might seem confusing and tricky if you are new to the garment industry, but with proper guidance and good tips from a professional expert, you can reach new heights of success. A clothing business of your own in the garment industry is a very good initiative that can be taken further with dedication and good knowledge about the sector.
Now, the first step would be to choose a product category on which your business venture would specialize in. If you are pondering to be one of the private label shirts brand, then getting hold of one of the best and credible shirts manufacturers is of utmost importance. The first and foremost would be to understand the global fashion scene for shirts, and consider a number of things finally before venturing into the market. The shirts market is has always been a glorious one, as men and women both regard this outfit style as closet essentials and love to wear various kinds of shirts and tees for different occasions. Hence, the demand for shirts has always been huge, and you as a retailer or private label brand should aim at looking forward to having newest collections in the store, that are capable of adding novelty to the product category of shirts, be it formals, casuals or party wear.
There are a number of things that should be kept in mind before starting your own clothing line, from your financial details to the type of products that you would have in your private label or retail store inventory. You would need good manpower, access to right technology and a substantially correct plan to make things succeed in future, without any loopholes.
Here is a step by step comprehensive guide to start your own clothing line, (especially shirts and tees) with a bang.
Select the product category
Though shirts itself is a genre of products, still you have to be clear in your plan whether your product category would contain only formals, or only casuals or both. From the timeless polo shirts, to the dress shirts, button down shirts, casual beach shirts to party shirts, there are many options in the product genre. Thus, you have to narrow down the product profile so that you can be focused on something, instead of beating around the bush. Once you know the variety of shirts that you are going to keep in your shirt’s store, you can keep your choicest product categories in mind while pinning down the manufacturer.
Right estimation of production requirement
The rough estimate of the products that you want in your inventory from the manufacturers and suppliers is very essential. You can increase the amount with time as you get the proper understanding about your budget and consumer demand. This will help you to get in touch with one of the reputed shirts manufacturer, know their MOQ and then request a quote based on your requirement.
Design your website
Apart from the basics on “how to start at private label shirts brand”, or a retail store, you should also look forward to designing a good website to catch the attention of the target audience and prospective buyers. Having a website that smells credibility is very essential so that a shirt retail store or private label brand can march ahead towards success. To achieve this you have to hire a good digital marketing team or company that would act as a catalyst taking care of the website development, marketing, designing and more. The website should be easy to use, and also have enough information about your venture. The products with photographs and descriptions must be vivid and easy to understand. A good website will draw interest of the customers, and help them shop with convenience. Here are some pointers for a good website.
- You have to get a domain name through a host or buy it.
- Put necessary details on the website, from the products to their photographs, descriptions, and different sections of information like “About Us”, “Sizing”, “Returns and shipping”, “Contact us”, “FAQs” and many more. Sizing chart and measurement chart for products are also important to be added.
- As soon as you are done with building the basic content of the website, you have to integrate your online shirts business with any payment gateway type.
- Next would be to set up the shopping cart and to set up a cart, it is often beneficial to use hosted shopping cart software as this promises more security to the customers.
You have to decide about your shipping details for the customers who would order the shirts from your brand or store online, and it would be your duty to deliver the shirts to their doorsteps safely within the mentioned time. Thus, make sure to join hands with a good shipping or courier company so that they can take care of the shirts that are ordered by the customers. Try to keep shipping charges free or a minimal amount on covering a certain distance to attract more customers and increase sales.
Have a good and constructive financial plan
You have to get some financial advice from an expert so that you do not end up wasting money to set up the business at the initial stage. Make sure to save money for emergencies and unavoidable expenditures. Hence prepare a good financial plan that can keep you grounded without any risk followed in the future. The budget of yours should be fixed and you shouldn’t surpass that at any cost. This way, you would be able to gain profits and not incur losses from your shirts’ business.
What are the services to be offered?
Your shirts business will only be successful when you can offer seamless services to the customers in the age of cut- throat competition. You should have a set of different and amazing services for the customers, different from other private label shirts brands or retail companies. From right procurement and shipping to using durable packaging material, do the best that is possible without any hidden costs. Here are some tips on services.
- Timely and safe delivery of the products to the doorsteps.
- A friendly and efficient customer service desk that would be at the service of the customers to resolve any issues and accept complaints.
- Always try to answer the queries of the customers in the shortest time possible.
- Time to time offers, seasonal discounts, and benefits are essential to bring in more customers.
- The terms and policies must be seamless and easy for the customers. The policy to return the products should also be hassle free.
Keep updating the inventory
You have to be sure that the inventory that you have maintained in shirts is updated every day, week, month or season. You should keep an eye on the shirts clothing industry and the trends that surface worldwide, and add the most fashionable products to your assortment in tune with the highlights. No customer would be interested to buy the stale and boring shirts collection, and hence try to have some uniqueness and freshness in your product catalog to offer to the customers.
- You must pay attention to the celeb-looks and models sporting the variety of shirts.
- Check out the different fashion shows that happen all across the world to splurge in the most state- of-the-art collections of shirts.
- Have huge variations, from different colors, to cuts, designs and styles- your product inventory should be about versatility.
Choose the best manufacturer of shirts carefully
To have the best collections of your garments, you would need a list of good manufacturers for the best shirts. You should look for the most reliable and reputed manufacturing hubs through referrals who would offer you the needed items within a budget at competitive rates. Make sure that what you get from the suppliers is high in quality.
- Ask for referrals from your business associates or friends. These will be credible sources of information to get access to the most trustworthy list of manufacturers and suppliers.
- You must do some background research to understand their credibility and mode of working. Know about their terms and polices as top-notch shirts manufacturers and hire the one that suits all your requirements and needs perfectly. Their supplies and your needs must complement each other.
- Check out and compare their rates. You have to keep your budget limit in mind, and select a manufacturer who would supply the bulk products at competitive rates, without charging too much.
Plan to reach to the prospective customers
So how do you plan to reach out to your prospective customers to increase your sales? You have to make a list of the potential customers and try to maximize your brand’s reach to grow your business. This is how you can do this.
- Promote your business on social media and other traditional media channels. Build your network strongly on different social media portals, from Facebook to Twitter to Instagram, Google plus and much more.
- Try to invest in different vlogs and videos to promote your products online. For this, you can collaborate with the bloggers and You-Tubers who would help you socialize more on their channels, too.
Good promotional and marketing strategy should be adopted
Your shirts retail or private business won’t be a successful venture until and unless you have a good advertising plan in your mind. Your promotional team and social media desk would help you to chalk out the right strategy to advertise your venture on various forums, be it on social media portals or the traditional channels like television or magazines.
- Think of an out of the box promotional campaign that draws attention of the prospective customers. For this, you would need a good marketing team.
- Keep things budget friendly as promotion is just the first step to start the business, you would need more investments in the long ruin to be made.
Have good knowledge about the shirts fashion industry
After you have made all the plans, it would be time to read and decipher more information about the fashion scene that deals with shirts as a product genre. Read and ask relatable people about the industry, the trends, the requirements, target customers, style statements popular for celebs and models. All these can be well discussed with the manufacturer you are collaborating with to take your venture ahead.
Determine your target market for your business
Apart from the type of shirts that you would specialize in, you have to be very thorough with the target market you are aiming at. Who do you want to have the collection shirts for? The college going youth or the office going men? The teenagers or the middle aged? All these can be considered to make your target market easier to structure, and in turn helps you to produce the right products. Also, this will be your immediate target market choices.
- The college going youth.
- The fashion bloggers
- The corporate people
- The party freaks
- The travellers
- & the list will encompass all men and women who are fond of wearing shirts!
You have to think ultimately about the right pricing strategy to earn more profits from the customers. Thus, look at the market trends and think of the retail prices that you would charge to sell the shirts. Make sure you charge competitive rates, instead of soaring high prices or being too reasonable. Your expenses should be kept in mind while deciding on the prices so that you gain good margin of profits. This will help you to take your retail shirts venture to new levels of heights.
If you are planning to splurge into the private label or retail shorts industry, make sure to have a concrete plan to take the business to a successful place in future. From the target market analysis to finding the right manufacturer for your collection, you should watch your decisions carefully to take help from an expert to chalk out the right strategy. Without the perfect planning, you cannot proceed to take up a business successfully. Remember the following tips.
- Prepare your budget keeping in mind each and every details of your transactions, expenses and investments.
- Choose good workers, designers, back-end team and marketing pros to help you reach your targets.
- Your products should be the right fusion of trendy style statements and high quality definition.
- Seasonal discounts and festive offers or benefits should be provided to the bulk buyers to give a boost to your business.
- You should have access to best promotional forums and advanced technology that would help you smoothly with your production process.