Entrepreneurship is booming in India and everyone has the opportunity to be a part of this growth. Many independent startups and retail businesses have come up in the past decade. Textile business are one category that is always in the market and grows with time. A retail saree business can start from anywhere between 3 -7 lakhs and grow up to have turnover in crores.
The retail saree businesses these days are focussed on the market trends. This is one important area to pay attention to, as retailer. Sarees are one of the most preferred outfits in India. It is considered to be a property and has emotional value. Opening a saree business is not an uphill task but the managing and growing of the business takes efforts.
There are many ways to promote a business. Many businesses look forward to online methods to reach out to customers and make sales. A retail saree business can grow from either offline advertising or online advertising. Advertising is a way of promoting the business and also to build brand value.
All You Need to do to Open a Retail Saree Business from Home
1. First, calculate your startup costs
Having an understanding of how to calculate a saree business‘ startup costs will be beneficial to an entrepreneur. The costs or expenses necessary to keep the firm operating must then be identified following the identification of the startup costs. Among other things, it may cover wages, rent, utilities, and stock replacement money. Financial viability can be determined by taking into account the entrepreneur’s financial resources.
2. The second step is to create a solid business plan
In order to start a business, you need a business plan to gain funding and attract support and knowledge. As a best practice, a business plan includes an executive summary and a clear roadmap for launching, growing, and scaling the saree business. A business plan must also include business operations, marketing, and branding plans. Having a flexible plan for saree business is essential to accommodate any changes that may arise at the last minute
3. Third step is to do some market research
When an entrepreneur is well prepared, he should only enter the saree market once he has acquired a thorough understanding of it. Knowing the market would involve following trends, understanding customer needs, and finding out what’s in demand. In addition, it will be beneficial to understand the area’s demographics where the business will be established. A person who is planning to start a business online can skip this step altogether.
4. Step four is to decide the target audience
It is practical to stock your inventory based on the preferences and tastes of your customers when starting a saree business. Researching the market online and offline can be useful to find out the kinds of designs and materials in demand. Create your marketing and advertising plans based on the information you’ve collected about your saree business. Businessmen who understand the importance of customers would never skimp on this step.
5. Physical Location is the fifth step
Initially you can have a home as a physical location. No need to pay rents in the start. In the start of the business it is very important to cut costs on focus on sales. Rather than investing on the physical location, you should invest your resources online.
6. Sixth step is to build your online presence
As we mentioned initially the penny you spend in the start of the business matters a lot as the capital is less and that has to be utilized in the most resourceful manner. So try to build the online presence of your brand. Instagram and Facebook are free. Showcase your collection on instagram with good hashtags.
7. Seventh step is to register the retail business and securing the business
You can start a saree business from home, but you must have enough storage space to store sarees and handle administrative responsibilities. Depending on the saree that you are selling, you have the option of either selling online or reaching out to retail stores that are interested in purchasing home-made sarees.
The sale of sarees can be done both physically and online, if you are entrepreneur. Having a fully functional website at your disposal is critical if you are selling sarees online. On the website, you can display your business’ range of sarees.
A business’s website can also feature any promotions, sales, and offers. You can reach a broad audience with an online business since you are not restricted by geography.When the business’s finances have been completed, the business plan and capital have been secured, it is time to register.
As a legal entity, your saree business wouldneed a name and to be registered. For registering, you’ll need a GST number and aPan card number. You can register as a sole proprietor or as a partnership with another individual with similar business interests. The business will be licensed and permitted once they obtain the necessary permits. Moreover, they will need toadhere to tax implications stipulated by the business.Neither the past nor the future can be predicted.
Therefore, it is a good idea to ensure your saree business to offset the negative impacts of any unforeseen events. Fire, theft, physical damage, etc., are all potential risks since it’s a retail business.
Eighth step is to promote the business
A powerful marketing strategy is essential to the success of every business today.
Saree business is no different; to succeed in the business, one has to strategically market the product (sarees). It would be ideal to have both online and offline marketing strategies included in a marketing plan. Physical stores should focus onoffline promotions if they are solely physical. Digital marketing or online promotions should, however, be more prominent if you have both an online and an offline presence.
The word-of-mouth promotion you will receive from your satisfied customers as a newly established saree business will depend on your ability to provide decent customer service promptly. When the service is poor, however, you can negatively impact the business interests of those same customers. As a result, creating a positive reputation and generating positive impressions can reduce marketing costs significantly.
Increasing sales for retail saree business
Focus on nurturing existing customers as much as capturing new ones. Cross-selling helps your online shop recycle existing customers and encourage them to purchase more.
What exactly is cross-selling? The concept of cross-selling simply refers to offering more products to existing customers and generating more revenue from them. Your online store can offer both blouse fabrics and stitched blouses at a lower cost than you can sell separately.
Expand your collection by partnering with global manufacturers
The limited range of apparel available in your store comes from only a few manufacturers. No matter how good a collection is, smaller collections are unlikely to attract a large audience. You will be able to source unique saree pieces if you collaborate with manufacturers or wholesalers. Since manufacturers do not deal in small quantity orders, it is a good idea to connect with the wholesalers.
Sell sarees at once using seasonal discounts and festive sales
In order to gain access to massive discounts, most people prefer to shop online. In this way, your online saree store will be visited by customers who are interested in getting exclusive sarees at a discounted price. My suggestion would be to offer festive discounts and seasonal sales in order to attract new customers and sell more pieces quickly.
By sharing weaver stories, you can establish your product’s authenticity
It is possible to convince people that your sarees are authentic. The only thing you need to do is share weaver stories! Authentically source your products from original manufacturers by sharing videos, writing about your weaver community, and telling people about your weaver community.
Increase customer satisfaction by bringing new materials and designs
There is a great deal of variety in sarees that customers love. Adding more saree fabrics and stunning designs to your store will increase sales. Expand your collection of sarees to increase sales by getting in touch with more manufacturers.
‘Buy More, Spend Less’ zone
Individual saree designs won’t generate much revenue. You can therefore focus on selling more than a single style of product at a time to customers, i.e. include variety. Offer a lucrative discount scheme where more products in the shopping cart result in higher discounts.
Reward your customers with goodies
Everyone likes something extra. Offering your customers freebies will encourage them to return to your store. With saree orders, you can send surprise gifts like pocket perfume, accessories, scrunchies, etc. It will bring them more business if you do such a thing for them.
Increase your customer base by advertising in public places
Obtain printed banners from a billboard advertiser and have them hung at public places to grab the attention of the general public. Physical advertising also plays a major factor in increasing the sales. Especially it also is an indication of authenticity. And it is reflected to customer.
In India the saree retaliers and wholesalers work in harmony to provide the best quality of fabric. These shop owners and retailers are the link between the wholesale shops and consumers. The major advantage of having a trustable saree retail business in contact is that the quality of product from the wholesale gets checked by the retailer. Thus reduces the hassle of the customer checking the quality of saree. The wholesale textiles businesses and retail businesses bring to customers handpicked sarees based on trends in the market and what catches the eye. This helps the consumer in way by preventing them from roaming around in search of the product they like.
There are bunch of saree wholesalers in Surat. But to find out the best authentic ones is a great task. Here is where Indian Textile House comes in picture. Indian Textile House has a network of manufacturers who are dealing in this business since more than two or three decades. Hence they are reliable, quality is reliable and they are professional in their dealings. If you need further information or guidance regarding setting up the retail saree business from home or you need to see the latest collections, you can connect with us on +919033373043 or visit our website Indian Textile House.
