STEPS TO STARTING YOUR OWN TEXTILE BUSINESS
How we look and what we wear have become a major question for almost everyone. It’s not just the color and style but we have experts across the screen freaking over the texture and quality of our apparel. We have online clothing sites mentioning the fabric used to make a dress with complex textile names. In this time, the knowledge of what fabric is of good quality and what polyester+elastic means is of prime importance. It is the fabric or the textile material behind those beautiful dresses that make them so distinctive to each other and gives a different kind of fit for various designs. There are a variety of these materials present in the market and the list is just too long. A textile is a material that is made by interlacing fibers and is not just limited to fabric or cloth material but extends to carpeting and geotextiles. Textile is a basic necessity of our life as what we wear, how we decorate our home (curtain, sofa covers, sheets), and use them for other purposes. Apart from the usage part, everything that involves production, selling, retailing comes under the term textile business. The textile industry can be regarded as one of the fastest-growing businesses in recent times. Not just locally, the business is doing great in the International market. The Indian textile industry is expected to reach USD230 billion by the end of 2020. It is also said that about 1/3rd of the total production by the Indian textile industry is export-oriented and most of it is imported by the United States of America. The textile industry gives you exposure to the world but it also requires you to have a close connection with people in the fashion and designing industry, be it big labels or local tailors. The textile business can be classified broadly two types for retailers, one of which is selling all kinds of fabrics, and the other is selling selected fabrics which is usually of a smaller scale.
There are a few prerequisites you should arrange and keep in mind before setting up a textile business. Let’s have a look at them:
Decide on the size of business
The textile business has a lot of scopes to grow but keeping in mind that you are starting raw and fresh and will have to put all your efforts in that business. According to your potential and your reach and ability to arrange for funds to put in this business, decide the size of the business. Do not go overboard. You can always grow as the customer base increases.
Decide on product
There is an array of designs that are available in the market, you have to first decide what are the products you are want to sell. Will you be keeping material for ladies wear such as suits and sarees or will you be selling for men’s clothing such as suiting and shirts or you’ll be selling curtains and home decor textile material or carpets. As you can see there is a huge variety available so decide accordingly. If you are going to start your own brand and will be manufacturing your own products, decide what will be your range. The business will expand and the list can always increase but decide first what is your introductory range and how influential it is and will it get enough attention.
This is amongst the first things to do. The textile business demands a lot of equipment and raw material so the cost of setting this business is high. It will require a principal investment. Get yourself sponsors who are willing to support a local business and have your back.
License and Permit
To start any business in India, you need to have legal permission sorted beforehand to avoid any hassles with government officials. You’ll need to get yourself registered as a business person, get storage approvals, get a trade license, get yourself a GST registration, and get all the documentation handy.
If you are making your new brand, make sure you get a patent by your brand name so no one can copy your products.
Storage space and equipment
Even if you are making your products or just selling products from different brands, you’ll need storage space. You will need a space big enough so that your workers be it tailors, designers, helpers all can work to their best capacity. You will also need equipment demanded by your tailors and designers. The textile business is not easy and requires a lot of raw material supply and basic machinery. So be ready to spend on that.
Have the right distributor
Make sure you have a distributor who can easily make you available with the supply whenever you demand them and have access to the latest fabrics and designs that are launched in the market. If you want to run a textile business, you should know that the trends change every week and your distributor should change with that. If you are manufacturing your products get a distributor who will make you available with your raw material anytime and at a cheap price. Getting the right distributor is one of the most important things for this business.
Go vocal for local
Take help from the local boutique and tailor shops of the city by sending them sample products and ask for them to promote your shop to your customer or buy regularly from you on exclusive discounts just for them. This way you will have a regular clientele and even when the market is down you’ll have someone buying from you.
Social Media presence and Marketing
Be ready to do a lot of marketing. Social Media is used by almost everyone around the globe. It is almost certain that at least one person in a household must be using any social media platform. Putting up pages on Facebook and Instagram, developing a strong SEO, and investing in marketing online can bring great audience attraction to your store. Putting up ads with discounts and amazing offers are always a plus. Along with online, spending on offline methods to propagate business is necessary. Go old school and hand out pamphlets in local markets. If you keep the quality of your products high, people are more likely to save your numbers to do business with you in the future so, you can invest in WhatsApp Business and use its marketing tools to propagate your business. It is convenient to use and digitally provides a personal touch as the medium is one to one messaging which has become one of the best provisions of converting prospects to customers.
Create a brand name and logo
Although this sounds very common before opening any new label in the textile industry, understand that a brand name is very important. All the textile brands such as Raymond, Vardhman, etc you hear about today were once just start-up like yours but determination made them big. Decide for yourself a brand name that people find appealing and represent the range of your clothes. You can also look for a name that has your personal story behind it. Make sure once you decide the name and logo of the brand, get a patent.
Starting any business takes a good amount of planning. It often takes a few years to get a business off the ground even with the best-laid business plan and advanced marketing. To open any business, one should be ready to work hard and show a lot of perseverance and determination. Any business will have good and bad days but it depends on the owner how they want to go about it. All the best!