Saree is the most common dress for females in India. Being one of the dresses worn by the majority of females and a dress that is highly demanded during the festival period, starting a saree business is one of the best.
Since the competition is very high, having the saree business plan needs to be drafted with precision and care. To stay ahead, knowing the right set of products and keeping the perfect collection is equally important.
Also, saree business ideas are plenty to start from home, focus on handloom, design and sell, and various others, but which one suits you is entirely based on market analysis.
Additionally, with the changing time, the models of the saree business have changed a lot. Previously, there was only one option to set up the offline store or, rather say, shop Today, there are various online models. Also, it would help if you looked for the appropriate saree business names ideas to make sure you connect with your customers.
So, in this article, we will answer your questions about starting the saree business. Also, we will share some of the insightful tips that can help you have a smooth saree business plan that can help you earn great.
Types Of Saree Businesses
Before you develop and devise the saree business plan, it is essential to know the variants that you can have. There are chances that you can have a combination of two business plans or start with one.
So, here are the top saree business ideas for you:
1. Wholesale saree business
The idea behind the wholesale saree business is to collect the entire stock from the manufacturers directly, keep them in a proper storage facility, and sell them to the retailer as needed. This is primarily a B2B business model that can ensure you profit once business links are made.
2. Retail saree business
The second business model to focus on is the retail saree business. The idea here is linked to the B2C business model. The sellers will have the stock of various sarees and a physical shop set up in the market. Based on the choices offered in the shop and the prices, the customers will buy the sarees from the shop. Making sure to have the right strategy will offer profit to the business owner.
3. Etail or Online saree business
The online saree business idea is linked to setting up the eCommerce store and starting selling the products over there. Since this is a business that you can run from home, the possibility of connecting with the customer from every corner is accessible. With the reduced need to set up the physical shop, the investment and costing needs are quite low.
4. Home-run store
Quite similar to the retail saree business model, the idea here is to sell from home comfort. This can work as a hybrid model where either the customer can visit home and buy or post your collection on Whatsapp or online platform and sell. Either way, this is a great one.
5. Social media store
With the social media trends growing, the number of people buying from them is also rising. Setting up a social media store means creating a page on platforms like Facebook or Instagram to make the saree business plan work. This is indeed the best approach compared to the other ones as it allows the seller to have greater reach and, thereby, profitability.
Things To Do Before Starting Business
You are required to consider various things when you are planning to start the saree business. The answer to the question of how can I start a saree business is hidden under the points given below:
➦ Market research
The first thing to do is to conduct extensive market research. Do extensive research on sarees, existing players, data, demographics, and whatever else you can get your hands on sarees. There are several free references and resources available online. Investigate the existing players and rivals, as well as what successful firms have done differently. This phase is very similar to setting up the foundation stone: the stronger it is, the better the odds of success.
➦ Know every minute point
When you are planning to set up the saree business plan, you will be required to know about every point of the business, from the fabric to the best manufacturers or wholesalers to connect with and even the way to connect and model. You can meet the business personals in your area and select the one that finds the most suitable one.
➦ Understand the product
India is a varied country, and each state and area has its style of weaving sarees. Everything differs with the area, including the patterns, colors, methods, and artistry. You also have the option to opt to specialize in selling specific sorts of sarees. Also if you are familiar with it in terms of cultural origin, material, history, and so on, it will be even better.
➦ Work on your customers
Knowing the customer is the key to success for any business, and when it comes to a saree business plan, the same becomes even more critical. Going specialized or profiling your clients will allow you to start small and gradually expand into a more prominent firm. A complete customer profile can assist you in better understanding your target demographic. Create profiles and categorize them based on age, taste, purchasing power, and so on. This sort of understanding will help you to develop an analytical perspective of your potential buyers.
➦ Pick your source
It is critical to select producers that can keep a steady supply of sarees on hand. Your clients will be looking for new kinds, and a manufacturer that can provide that need would be an excellent fit for the success of your saree business. Having an appropriate, consistent, and quality supply or the right kind of stock is the key to saree business success.
Once you have sorted down the essential points to consider, it is time to draft the saree business plan for tremendous success.
Steps To Start Saree Business
The proper steps to be followed when you have the saree business plan in your mind to set up the business are as follows:
➦ Start with planning
Once you have all the fundamental aspects figured out. The next step is to draft the precise sections of the plan. Determine all of the kinds of expenses that you will incur. If you intend to take out a business loan, you must have a clear plan, the amount needed, internet charges, capacity, and figures to back it up. A Chartered Accountant’s counsel will ideally go a long way toward assisting you and your organization with planning.
➦ Register the business
Even if your saree business is entirely online, you’ll need a physical location to keep your goods and supplies appropriately. Choose an effective platform and logistics company that can offer real-time tracking to ship those sarees to customers. Many business owners begin by storing sarees at home to save money and then hire a storage facility once their company has grown and generated significant revenues.
➦ Check for insurance and financial needs.
Because it is a retail firm, various things can go wrong, including fire, theft, and physical damage. Nobody has the power to predict what will happen in the future. As a result, getting insurance for your saree business is an excellent decision. It will help to divert the risk if any arises.
➦ Marketing plan
Make a marketing strategy that includes both online and offline marketing. Even though your company will be primarily online, offline promotion is crucial. While word of mouth is still one of the most effective ways to spread the news about your company, you should also consider low-cost offline marketing activities such as pamphlets, paper inserts, catalogs, and brochures. Their dissemination would aid in quickly disseminating information about your internet saree business.
Include social media marketing, search engine marketing, and search engine optimization in your internet marketing strategy.
➦ Plan on expansion
For any business to survive in the long run, expansion is the key. The saree business ideas also work on the same concept. The basic thing to do here is to focus on the various expansion plans, look for some latest products, and even run some promotional activities that can bring in more customers.
➦ Analyze and make changes as needed
Last but not least, it is essential to analyze the business and make the changes accordingly constantly. Running a business that focuses on the existing and upcoming customer needs is all you need to profit.
Some Saree Business Name Ideas
There are unlimited saree business name ideas available for you to select from. But you need to select one that is the most appropriate name as per your ideology and product variety.
The key points to know when you are selecting or searching for the saree business name ideas are:
- Select a name that is simple to remember and catchy.
- Let the name be such that people feel connected to your business.
- Ensure to have a small yet meaningful name.
- It should be different from the names of the existing businesses in the area to avoid confusion.
- You should pick the names with the ladies’ preferences in mind.
- The name should appeal to the females.
- The name should be appropriate for the ladies’ personalities.
- It would help if you reflected the brand’s specialties in the name.
Tips To Push Saree Business To Top
On the surface, it appears to be buying sarees in bulk and selling them to individual clients at retail pricing. There’s a lot more to selling sarees than meets the eye. An effective and efficient quantity of cash must be always there in the entrepreneur’s hands. Also, this capital must be backed by proper and deep research into client wants and preferences.
Finally, after all of the hard work in establishing the company, it is necessary to invest a significant amount of money in promoting it. This must be followed by creating a website and identifying a physical place to sell the product. To create healthy earnings for long-term survival, all of these diverse events must go off without a hitch.
If you are willing to have a tremendous success for your saree business, here are a few tips:
- Always focus on the latest trends and demands of the customers.
- Keep your stock the latest and offer customization services if possible.
- Conduct some styling sessions as it will make your platform stand out.
- Keep the product description crisp, precise, simple, short and to the point. Consider including every single detail from the customer’s point of view.
- Ensure to have material from trusted manufacturers and avoid those whose products come with flaws and defects.
- Make sure that you market the product with the ultimate customer in mind. Be sure not to be offensive in any way.
- Avoid constantly making multiple changes in prices that will not confuse customers but will make them skeptical of your venture.
Every business needs a lot of planning, analysis, and juggling to succeed. Without having the proper set of the details of plans in hand, the chances of success and profitability are meager. Likewise, saree’s business plan is also based on a diverse range of planning and a deep understanding of customers.
As a new saree business, if you can deliver good customer service quickly, you will be rewarded with positive word-of-mouth advertising from your delighted consumers. Sarees have long been famous, making a saree company a profitable endeavor.
Take into account the aspects above of how to start an online or offline saree business from home, and you might be operating a lucrative saree business in a matter of weeks!