Start a Textile Business in 4 Simple Steps

- BY Jaspreet Kaur
Feature Writer, BusinessEx
- |
- Jan 05,2021
- |
11 Mins Read
India, being a vast nation, comprises diverse geographies and cultures. Owing to this, there are a wide array of clothing trends that prevail in the country's market. Clothes and textile are contingent on different cultures and people’s lifestyles. As a result, clothing trends keep on changing from time to time, depending on customers' taste and preferences.
Since the market demand for textiles is high, there is invariably a huge demand for textile business as well. You can start this business with a small amount of savings. Before stepping in the industry, a thorough research is required thereby, increasing your knowledge about the Indian textile sector. According to Statista’s data, the textile industry was valued at $150 billion in 2017 across India. However, this was estimated to rise to $223 billion in 2023. New government policies aimed at this market were meant to create more jobs, requiring nearly 17 million in its workforce additionally by 2022.
To help you establish the textile business India easily, here are some of the important steps that you should take note of.
Business Plan
A business plan has to be the first priority of every entrepreneur. It does not matter whether you have hands-on experience in the industry or not, you have to plan out everything aptly. A business plan will comprise a step-by-step plan for managing the business and developing it in the later stage.
Apart from this, a plan will highlight your business goals and help keep you focused on the prime objectives.
Vendors
Once infrastructure is ready and business is established, you will have to connect with a cohort of vendors. Before going to vendors, you have to find out your business needs, then jot down resources that you would have to buy from suppliers.
Probing the market and having first-hand information about the prices is crucial. You can later approach suppliers and ask for prices of various fabrics. Since you have knowledge of the market and know the worth of every material, you can easily shortlist suppliers that you seek to deal with.
Specialisation
Once you connect with the right suppliers, the next step is identifying your specialisation. Within textile, there are several varieties such as bed sheets, apparels, blankets and so on. You have to ascertain your specialisation and accordingly, begin creating products.
Customers
After deciding important elements about the business, then you have to identify your customers. Determine age groups that you seek to target, understand their taste and preferences and accordingly, design textiles.
Also, you have to identify how you would be delivering your products. Either you can sell products to distributors or sell directly to customers. If you choose the second option, establishing an online shop is crucial as it will be cost-friendly and perform marketing better.
These factors are essential to follow while starting a textile business. Besides this, there are other additional elements that have to be addressed depending on your business specialisation. If you know any other important factor that should be implemented in every textile business, then share with us in the comment section below.
More from Jaspreet Kaur
5 C’s Entrepreneur must be aware...
Getting a Loan is a difficult task so one must be prepare...
July 11, 20173 Min Read
What incubator provides startup...
Startups need incubators for their overall development...
January 10, 20183 Min Read
How to maintain a good business...
A good relation between mentor and entrepreneur builds...
January 20, 20183 Min Read
How online networking helps small...
A one stop solution for all business related problem...
January 22, 20183 Min Read
Why you should invest in a startup?
Investing in a startup is the fastest way to get a...
January 24, 20183 Min Read
When is the right time to exit...
Starting a business is not a child's play so it is...
January 29, 20183 Min Read
6 mistakes to avoid after raising...
Entrepreneur makes mistakes after raising funding which...
January 30, 20183 Min Read
What Startups and SMEs can expect...
Let's see what experts have to say on this year budget...
January 31, 20183 Min Read
5 things good mentors do differently
An entrepreneur seeks the support of a mentor in the...
February 05, 20183 Min Read
6 factors that contributes in business...
Running a business is a dream of many a people so make...
February 19, 20183 Min Read
6 tips to get investors on board
An entrepreneur always finds it hard to get an investor...
February 19, 20183 Min Read
What to keep in mind before selling...
Selling business is a big step so make sure that you...
February 20, 20183 Min Read
Recommended for you
- September 30, 2021
- September 17, 2021
- January 28, 2021
Latest News & Articles
- July 11, 2017
- January 10, 2018
- January 20, 2018