If you have a passion for textiles and you want to break into the industry with your very own business then this is a post for you. I was inspired to write this by my very good friend Misha Kaura who started from nothing and grew her textiles business into very successful company. Misha always loved fabrics and textiles and I always had a feeling that this would be the career path which she took. Misha had to learn it all on her own and I am very proud of the textile guru that she has become. If you want to follow in Misha’s footsteps then here are some tips which she has shared about getting into the industry.
Table of Contents
Getting to Know
The first step before you even think about launching a business is to get to know the industry and how it operates. As simple as this sounds, this is going to be your foundation for building your business and you must gain an understanding of fabrics, textiles, and what designs people are looking for, as well as pricing structures.
Understand the Market
You are also going to have to invest some of your time in learning about the market which you are about to enter into. This involves losing at customer trends and logistics of an operation. A great idea here is to try and get a position within a textiles company so that you can learn the ropes and see how it operates. You have to understand both the market and how a business can succeed within it.
Speaking to Sellers
Aim to speak to as many raw product vendors, designers and sellers of fabrics who you will be buying from in the future. Learn about lead times, order sizes, contracts and try to make as many contacts as possible. Your business is going to rely heavily on buying at great prices which is why now is the time to focus on forging relationships.
Once you have done your homework and decided that you are going to launch your business it is time to start thinking about location. Given that you won’t require a high street shop you can look for more out of the way locations here, which will help to reduce costs. Consider the utilities which you will need such as strong electrical currents and water, as well as accessibility.
There is little point in launching your business and tying up all your cashflow with the purchase of a single fabric so you need to start trying to learn how to keep production going without putting all of your capital in one place. Which fabrics will sell quickest? Can you use a credit system with suppliers? Key questions which you have to answer that will help you to keep more liquid cash in the business.
These are just the starting points of getting yourself into the textiles industry.