If your dream is to have your own clothing business, then you’ve come to the right place. Did you know that selling wholesale clothes is a way of starting a clothing business? That’s right! All you got to do is “buy low and sell high.” But, the critical success factor behind this is how you take on your venture and execute your plans. In this blog, we’ll give you a few tips that’ll help you kickstart your clothing business.
Identify your clothing niche
Buying and selling wholesale clothes doesn’t sound complicated. All you got to do is buy wholesale clothes at a lower price and then sell them at a higher price. However, the first thing you got to do when starting a clothing business is identifying your clothing niche, also known as your target market.
To get successful, you need to find the right opportunity. An opportunity is when the conditions of the market are in favour of your business goals. For example, in a particular region, you’ve found out that there aren’t many choices for big and tall teen males. So here’s an opportunity. You can fill that market gap and consider selling clothes to the underserved target.
Do the business and legal work
Now that you’ve got a rough idea of whom your clothing business will serve, it’s now time to work to get things operational. In starting a clothing business, you’ll need to make sure that you’re legal to do business in your area or preferred area. You need to get the required permits and licenses to run your business.
Moreover, you need to find a suitable location for your business also. If your target audience is big and tall male teens, perhaps you should consider opening a store at a mall or an area where the particular age group shops usually. You’ll also have to keep your marketing in check as you’ll need a grand opening to attract customers.
Working with wholesalers online
Once you have your business plan and all legal work done, it’s time to get working with wholesalers. Just like with any business, relationships are the key to starting a clothing business, especially when getting in touch with wholesalers.
Finding wholesalers
There are two ways to finding wholesalers. One way is to search websites for companies that represent different clothing brands. The other is to visit the website of the clothing brand wish to sell. Generally, you can find links to wholesale information on the top or bottom of these websites, though don’t expect a lot of detail regarding qualifications, order minimums, pricing, or terms. Instead, contact the brand or wholesaler by using the contact information provided on the website.
Contacting wholesalers
Some websites allow you to apply for a wholesale account and then get straight to it. However, in most cases, the application process may not seem as straightforward as one might think. You may have to meet a lot of requirements and conditions to qualify as a reseller, at least when your business is new.
You’ll need to provide proof as well that you’re operating a legitimate business. This typically includes a scanned copy of your business license, your permit, and in some cases, copies of invoices from other wholesale accounts that you may already have. Be sure to ask the wholesaler or brand representative about their terms and conditions, including pricing rules and establishing credit terms.
Building supplier relationships
Just like we mentioned, one of the keys to starting a clothing business is developing strong relationships with wholesale suppliers. One good relationship can determine the success of your business.
When things go well with the wholesaler or wholesale representative, you’ll most likely be able to enjoy the many perks associated with friendly relationships. For example, you’ll be able to enjoy preferred pricing, access to in-demand merchandising, and accommodating payment terms.
To build a strong relationship, you have to be respectful of your wholesaler’s time, pay invoices by their due dates, and approach them about your concerns before a small issue ends up turning into a huge problem.
And that's how you start a clothing business
If you’ve had your experiences with trading, you probably have heard of this rule of thumb, “buy low and sell high.” That’s pretty much applicable to all kinds of trading businesses, even the clothing wholesale business.
Buying and selling wholesale clothes is arguable the best way to start a clothing business. Wholesalers typically sell their inventory at the lowest price, so that you can sell your product at a higher price and get a decent profit. It’s not that difficult once you keep our tips in mind. Happy wholesaling!
