6 Things You Should Know When Entering the Garment Business

November 10, 2020

Are you planning to start your own garment business? But you’re unsure about all the things you need to take care of? Don’t panic yet, because we’re here to help.

Small business owners usually feel very confident about their start-ups, but one step in the wrong direction leads to a significant business disaster. We're sure you have a keen eye for the apparel and fashion trends, but unfortunately, that's not enough to successfully run a garment business.

The garment industry in the US has been growing at a fast & steady pace. As a result, many new businesses are entering the said market, and it has become imperative to stand out with effective business strategies. With the help of experts at Lefty Production Co., we’ve come up with six factors that you have to consider when entering the garment industry.

Conducting Market Research

It’s essential to conduct a comprehensive apparel market research before setting up a new garment business. Doing so helps you in the following ways:

·        It enables you to identify grey areas in the garment industry

·        Assists you in finding the need your business can cater to.

·        Involves competitive research, which helps you gather insights about the businesses already operating in your area.

·        Keep an eye on the latest trends and statistics about the garment industry.

·        To gather the data, use surveys or questionnaires or conduct secondary research.

·        This step will provide you enough knowledge about the demand, market size, economic indicators, market saturation, pricing, and location for your new garment business.

Drafting a Business Plan

The business plan is the foundation of your business.As suggested by the SBA, either choose a traditional business plan draft or go for a lean start-up model to ensure that it meets your needs.

Allocating Funds

The main goal of starting a garment business in the first place is to make it profitable. And profits are generated when costing & budgeting is effectively done. Starting a garment business requires funds for material, human resources, packaging, utilities, taxes, etc.

If you’re seeking financial assistance to fund your new venture, check out government schemes for small-scale garment start-ups.

It’s All in the Name!

Choosing the perfect name for the business is vital for long-term business planning. Depending on your business structure, choose a creative entity, trademark, DBA, and domain name.

Getting it Registered

As soon as you name your baby business, it’s time to get it legal and registered. Make sure you pick an accredited registrar for this purpose and read up on the state rules that govern the service.

A white sewing machine and multi-colored threads for stitching fabric

Finding the Right Clothing Manufacturer

The best thing you can do for your garment business is by accessorizing it with expert help. A skilled consultant benefits you and your venture in many ways—investing in the right raw materials, developing production systems, using modern techniques, purchasing the right equipment, etc.

The manufacturing company should also be able to guide you on:

· Sketching design, sourcing,labeling & branding your apparel products.

· It should serve you holistically from making patterns and revisions to production and packing.

· Choose trustworthy garment vendors.

Ready to Get Started?

Lefty Production Co. is a leading garment manufacturer, marketer, and consultant in Los Angeles, California. The company specializes in all kinds of apparel, including bridal wear and activewear manufacturing.

Get in touch with us today to get started with your garment business.

More News