If you are planning to venture into a wholesale clothing business, you should prepare yourself in order to succeed. Many people think that buying and selling clothes wholesale is easy. But, it is not so. The overhead in this business are rising and the margins are declining, thus making it difficult for you to make good profits.
Here are some tips that could help you in your wholesale clothing business.
Research Your Market
You could sell wholesale clothing to retailers in your local market on eBay, or Amazon, or on your online store. Depending upon what market you want to target, you should develop a proper strategy. For example, if you want to sell your products to local retailers, you should start meeting them in person to understand their requirements and expectations. If you want to sell on eBay, you should do a research to find out what types of clothes sell on eBay and at what prices. All this will help you in deciding your niche and determining the rates at which you should sell your products.
Decide Your Niche
You could specialize in men, women, or children clothing. You could sell either branded or unbranded clothes. You could sell sportswear or party wear. Your decision should be based upon what interests you, which niche is more profitable, and what your customers want.
Find a Good Supplier
You should look for a wholesaler, distributor, or manufacturer that supplies good-quality clothes consistently at cheap rates. You should visit wholesale directories and a dropshippers list to get references for wholesale clothing sources. These directories and lists have contact details of established and verified businesses and could help you locate a good wholesale supplier.
You should never finalize the deal with the first supplier you come across without comparing rates. It is best to invite quotes from at least three to four suppliers to know their rates, return policies, payment methods, minimum order requirements, and other conditions.
Once you find a supplier that offers items at the best rates and conditions, you should negotiate with them. You could request the company to lower their rates or make some changes to their terms and conditions to make the deal favorable for you. Though most manufacturers and distributors are a bit hesitant to negotiate, but you should not get disappointed. There is no harm in trying as your association with the supplier may continue for long, so even a small change in rates or a liberal return policy could really benefit you.
Market Your Business
Visibility is very important for any business to succeed. Never undermine the importance of marketing. You should make use of Google AdWords, press releases, articles, wholesale forums, and blogs to advertise your business. If you want to sell only to the retailers located close to you, then you should advertise your wholesale clothing business in local newspapers too.