How To Start a Textile Business?

Textile Business In India

Arm yourself with knowledge when it comes to opening a garments factory. Dabbling in the textile business is an interesting way to be associated with fashion, and designs. Textiles will always be in demand as long as humans remain civilized (pun intended!), but you should also keep into account the fierce competition which is there in the business nowadays. By careful analysis of the market and knowledge of the know-how, you can start your business off in full swing.

First of all, think about the kind of fabric you want to make. Do you want to make woven fabrics, print and dye them? Talk to a successful business in the sector to know the challenges and setbacks.

When starting any business, you need to know about things like:

1. Product demand 

You can’t start a woolen textile unit in, say, a hot city like Chennai, where the demand will be very poor. Your main buyer will be up north, factor the transportation and state tax costs at every barrier.




2.Competition 

Competition is there a similar business running in your locality and they are doing extremely well? What can you do to make business even better? Think out of the box!

 

3. Customer satisfaction

The customer is the King, always consider customer’s need and ensure the product matching their need.

 

4. Pricing 

 Price your product competitively. Never under price your product!

 

5.Banking and finance 

Money, money, money! Do you have the required capital? Apply for a business loan. Open a separate bank account for your business to monitor your cash flow

 

6. Personal time management 

Don’t keep all your time for your business! Personal time is equally important for success!

 

7. Time management 

Are you running out of time constantly? Don’t have time to do a particular chore? Learn time management and be very earnest in practicing it!

 

8. Government policies

Different types of tax, Labor Laws, Environmental Issues–You don’t want to run into penalties for not following the labor law, tax-related laws and environmental laws in your country, it is often heavy on the pocket!




9.Factory location 

Be sure to get a place on the lease where there is plenty of water and electricity supply as well as plenty of ventilation, as there will be toxic waste material and dust from the fabric. Learn proper waste management

 

10. Rent 

Search, find out and strike the best deal. Ensure you are not spending too much initially for rent. Another option you could consider is, sharing a percentage with the building owner as an alternative to renting, that will not only help you in cost-cutting that will bring in additional contact for you.

 

11.Transportation 

An important issue which might affect your business adversely or positively. Do consider the transportation expenses related to the raw material and the finished product

12.Costing 

Make an executive summary and factor the profits and losses. Make a report for at least one year and calculate the overall expenses of your factory. Take the help of an accountant.

 

13. Promote 

Advertise, advertise, and advertise, though ensure the advertising cost is within the planned budget and always calculate the Return on investment(ROI).

 

14. Profit or Loss 

Profit or Loss bearing capabilities. From the day one focus and run towards the break-even which is the first success for any business Ensure you can run the show for at least a couple of years without entering the profit zone.

And the list goes on. The above-mentioned points are some of the major things to be kept in mind. Buy the required manufacturing equipment form reliable companies. Do they cover the equipment for a long period of time? Do they offer services in case of breakdown of equipment? Research and make a list of reliable companies.

 

Don’t forget about bulk storage! You would need a warehouse/to go down to store your fabrics. This is a very important factor, as you may run into losses if you don’t have space in order to store your fabrics properly.

Contact our Business consulting for more about How To Start a Textile Business

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15 Comments

  1. Pelumi

    It cool actually I love it.

    Reply
  2. Rahul kadam

    Need ur consult

    Reply
  3. Amit kumar

    Sir I want help to start new business in Jaipur Whit low investment in textile and we have sufficient space and staff for doing work.but we have lake fo knowledge from where to buy row material and where to sell.sir please help me
    . Because I want to help my father and my family to start up new business.thank you

    Reply
  4. corburt erilio

    This is the right blog for anyone who wants to find out about this topic. You realize so much its almost hard to argue with you (not that I actually would want…HaHa). You definitely put a new spin on a topic thats been written about for years. Great stuff, just great!

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  5. SANDY

    Sir i m 19 now and i want to start a textile industrie in my area bcz i have the dezines never seen before ,and i know that i can do it but all my family mambers are not supporting me so i want a starting point to set up my bussiness so sir plz help me and plz suggest me some so that i can work on them.sir plz rply me i will waiting for your rply.

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  6. Muhammadsaqib

    It is really helpful for me and i need your consalt because i have lack of knowledge in this buisness

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  9. Pavi

    My family is running a textile business(power loom) only. is there any chances to improve my business because it is very loss since 2 years??

    Reply
    • oblwordpress

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  10. SANA FATEMA

    Sir.. I also want to start my own business but have no idea about it…. The only thing I have is determination of achieving something despite of whatever the obstacles may be….

    Reply
    • oblwordpress

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  11. Somkit

    Really informative article.Really looking forward to read more. Really Cool.

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    • oblwordpress

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