Complete plan for t-shirt business
Start Your T-Shirt Business. Compared to all other apparels, t-shirt is most popular dressing item. Whether for men, women or kids, t-shirt is hot favorite of everyone. More so, popularity is because of its versatility. From school dress to customized uniform for an office event, holidaying or partying- t-shirt is always and anywhere welcome. Pair it with denim and you are ready for the show. Such hassle free outfit t-shirt is. From business perspective, as an aspiring entrepreneur you must understand that this is a matured industry. To make it your niche, you must come up with something more creative that will appeal your customers who are looking for innovative ideas that will match their specific requirements.
Present T-Shirt Business Trend
T-shirt market has been quite resilient even in post-downturn phase. Bottom line is no matter what happens, people have to go to offices and schools and for that they will require good clothes. So, even if the expensive brands and retails saw a slump, apparel business or the high growth categories including denims and t-shirts kept the owners afloat. Market experts and analysts are hoping a growth of 8.5% by 2017 from its status in 2012. Dressing trend has shifted from formal attires to casual tees and denims which has given a boost to the t-shirt market. E commerce or online retails have made things comfortable too. This is good news for any upcoming businessman interested in t-shirt merchandise.
Competition in Indian T-Shirt Business
To get a foothold in the t-shirt market is a tough task to accomplish. Every other day, something new is introduced. And as a newbie when you include it in your services, something more is launched. You need to inspire yourself from the already established brands because it is tough to compete with them at this stage. However, you will need really good business plans and marketing strategies to establish yourself in this concrete market. If you have opened a franchise, then most of the marketing tasks would be taken care by them, yet there should be some efforts from your side too so that people know that you are also here to do business. Your online presence is equally important as youngsters shop mainly online and t-shirt is primarily the domain of youngsters only.
Scopes and Prospects
As discussed earlier, apparel market is an evergreen one, provided you market your products strategically. You don’t need to be an artist or a degree in fashion designing for better prospects in this business. But you should have a clear concept on what you want out of your domain. T-shirts with one-liners are very popular especially among teenagers and young people. Software or graphic programs like Adobe or Macromedia can help you come up with innovative designs. Keep yourself updated with latest technologies that are used in this business. This will improve your prospects.
Who Can Start T-Shirt Business
You do not need an MBA, BBA or BBM degree to start with this business. Nor do you need to be a fashion designer or an artistic person. These qualifications and qualities can surely help you go ahead but more than these, what you need is business acumen which no degree can buy, capital to take the first move and ideas that you are sure to work. Once you know you are equipped to start t-shirt business, you will need location. Even if you plan to start a home based e-retail, yet office space helps keeping your work life separate from your personal life. And make sure you know enough about patent rights because you can get into legal troubles if you use copyrighted images without seeking permission.
Skill Required for T-Shirt Business
Though it is not mandatory, yet a degree in apparel designing or fashion technology can help you get an edge when you start your own t-shirt business. Original designs are must when you aim at setting yourself apart from your competitors. A little research work goes a long way. Look for designs and fashions that are trending these days and identify your target customers. Use online forums to get feedback for your designs. Update yourself with latest technologies. Compare the cost incurred for buying machines for screen printing and outsourcing them. In short, to taste success, you will need patience, perseverance and to be tech savvy.
Risks in This Business
Risks are there in everything you do, whether you are into a job or business. There is no risk-free way of gaining success. Probable risks involved in t shirt business are legal and financial ones. Mishaps or accidents can be covered by proper insurance. A calculated assessment of risks can help you identify the most feasible way navigating through them. You need to analyze risks in order to minimize them.
Profit feasibility is quite high in case of t-shirts because unlike women wears or formal attires for men, fashion is always stable with them. So, you can always achieve a fair share of profit. But there are other factors also. For example, if you own a franchise, you have to split your profit share with them. Same with Cafepress too who demand a major portion of your earnings.
You will need capital for equipment and supplies when you are starting up your t-shirt business. You can decide which part of the total process has to be outsourced and which to be done indigenously. Electronic infrastructure has to be taken care of as well so that inventory control, sales records and customer database can be maintained easily.
Hire employees who are experts. When you are a newbie, hiring fresher staffs can jeopardize a lot of work. Onsite experience of staffs will result in quality output as well as smooth functioning of your business.
Website Building & Marketing Plans
As a franchise owner, you need not think much about marketing strategies, but if you are on your own, your marketing strategies will be deciding your fate. Today, it is all about selling yourself. You can market your products both online and offline. Start online marketing with building a good and efficient website. Ensure it is search engine optimized so that traffic is attracted towards it. Put banners, post online ads, use social media to promote your products.
Offline marketing has even more options. Sponsor a friendly match or competition even at a micro level. Select magazines and post your ad strategically. TV and radio commercial also reaches mass easily. Networking is not lobbying, make best use of your personal contacts to promote the t shirt business.