Denim is another name for Jean, is a very popular and high demand fabric. Establishing a denim company is something that can stand the test of time because it is versatile and it is used by designers and consumers to make other fabric clothes. Like, jeans trousers, jackets, gowns, skirts, shorts, etc. It can also be used to make accessories such as handbags, shoes, bangles and the rest.
In starting a denim company, you need to focus on selling your fabric in bulk because that is where you will make the most profits. From your startup stage, it is important to know your market segments so as to satisfy their wants and needs and build yourself a successful business venture.
Read on and see how you can set up your own denim company.
WRITE A BUSINESS PLAN
As you start your denim company, you need to write a business plan so as to be sure of the direction you want the business to go. In your business plan, you need to have a detailed summary of what your company is about. Details like your market segments, product line, marketing plan, financial costs, etc.
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CARRY OUT A MARKET SURVEY
You need to carry out a market survey to determine your target customers and the product line you will be offering. In your market survey, note the particular kind or color of denim that is most in-demand and ensures that you will always have them in large quantities. Once you are done with the market survey, you should be able to decide whether you want to design your own denim fabric and sell in bulk or buy and sell already designed denim. Whatever decision you make, stick to it and focus on building your company and growing it into a successful venture.
REGISTER YOUR DENIM COMPANY
Incorporate your denim company with the relevant government authority in your country either as a one man’s business or a limited liability company or a partnership if there are investors. Ensure that you also obtain your tax ID as well as a business bank account.
RENT A PROPERTY
Rent a space or better yet lease warehouse where you can display your denim products in the busy part of the town so that customers can easily see and make a purchase. Make sure the leased property have enough space for you to store bulky fabrics and inventory – because if you are able to get your denim fabrics in bulk, you get to save extra money which is good for business.
MARKETING PLAN FOR YOUR PRODUCTS
Start by advertising your denim directly to target customers. Your customers cut across teens, elites, working-class, male and female, old and young. Since you already know your market segments, approach them in person. For example, if you intend to sell to university students, take your denim finished products to them in their hostels and dorm rooms and market to them. Seeing you in person, and not on social media will motivate them to buy from you.
Never underestimate the power of social media marketing, so ensure to advertise on the different platforms out there. Facebook, Twitter, Instagram and the rest. Market your denim as a more affordable, unique and stylish alternative to others in the market place.
Print out fliers and brochures and distribute to people. Seek out retailers and clothes designers and offer them a discount to ensure steady patronage from them