Here the Project Report of Garment Shop is available for your immediate download. There is a nominal fee for downloading the project report of the Readymade Garment Store. Garment’s report will help you prepare a project report as per your objectives. This garment shop project report is a sample. This report will also help to study the project and collect information about the project. These documents are available for download in PDF format. You can prepare a report in Word or Excel at your convenience.
If we think about business in India, the first point that comes to our mind is the ready-made garment business. As we know, this is very popular among everyone and the most demanding market in India. Opening a garment store is a good thought if you have an interest in fashion and clothes.
People are very keen on shopping even if it is a small occasion or from an anniversary to house warming parties or festivals. Ready-made clothes are prepared from different fabrics with different designs and are mass-produced products.
As generation increases, demand is also increasing, and these clothes are very simple to manufacture and market. Hence, starting a ready-made garment business in India is a very profitable point, but you only need new ideas. If you survey the market, you see numbers of stores are not running well because they lack planning. So proper planning is required for this business. This is a guide to explain about ready-made garments business and its requirements.
Table of Contents
- 1 How to Download Garment Shop Project Report
- 2 Target Selective Segment
- 3 Key Points Cover in Project Report
- 4 Experience more about the business
- 5 Finding your Suppliers
- 6 Targeting your Market
- 7 Finding the Right Location
- 8 Get your finances ready
- 9 Legal Aspects
- 10 Distribution Plan
- 11 Stockpile
- 12 Human resources
- 13 Pricing
- 14 Marketing
- 15 Maintain Quality
- 16 Wrapping it Up
- 17 For whom are these sample formats useful?
How to Download Garment Shop Project Report
It is very easy to download the project report of Garment Shop. First of all, you have to add the readymade garment store report to the basket. After this, the second step is to checkout. The third step is to make an online payment after checkout. The project report is available for download immediately after payment.
Here are some points discussed on how to start a Ready-made business.
Target Selective Segment
The first thing you decide is the category of clothes and focus on that particular category. Deciding on a category will help you to create specialization build your market in a particular section. Avoid stocking all types of clothing for selling as this will confuse customers, and you lose the market. Always go for trendy and marketable designs.
For example, you can choose a particular variety like kidswear, men’s wear, women’s wear, or bridal wear, then stock only that particular category. Later, when you decide to increase your business, you can add on products, but you always remember for your particular category, which will increase your market value. Do not stock too costly or too cheap items; always go for the middle cost to attract customers.
Here few categories you can consider for the ready-made garment business:
- Ethnic wear or Indian clothes including sarees, salwar suits, kurta pajama for men, etc.
- Exclusive kids’ fashion wear include clothes for children ranging from infant to 12-year-olds or teenage group.
- Men’s wear includes suits, shirts, trousers, jackets, etc.
- Women’s casuals or formals—skirts, jeans, t-shirts, etc.
- Sportswear includes jerseys, swimsuits, football shorts, etc.
- Wedding wear includes both men and women in one roof —sarees, lehngas, sherwanis, whatever recent trend, etc.
- Nightwear or innerwear.
- Maternity specialized clothing.
- Winter wear include men and women
Key Points Cover in Project Report
- Table of Contents
- Project at a Glance
- Promoters and Management
- Market Demand Potential
- Location of the Project
- Projected Balance Sheet
- Projected Profitability Statement
- Debt Service Coverage Ratio
- Break Even Analysis
- Depreciation Chart
- Plant & Machinery
- Term Loan Repayment Schedule
- Ratio Analysis & Assumptions
- Expenses Detail
- Conclusion & Recommendations
Apart from this, all the information is being provided. To help in preparing project reports.
Experience more about the business
It is always better to have experience before burning your money to enter a fashion retail business; therefore, try to work in some stores to gain experience. It is best either you have designing degree or a retail apparel store apprenticeship to overcome the hurdles coming in your business. Once you gain experience from any store, you will understand the challenges and how to deal with them. Before starting this work, the most important is to understand the clothes type and style and always update yourself on recent trends. More details are available in the project report of the garment shop.
Also Read: Article on Top 10 Textile Business Ideas in 2022.
Finding your Suppliers
Now your category is decided which type of clothes you are going to sell in the market, start managing raw material suppliers, and decide where to start production if you think about your designing clothes. Otherwise, connect with a wholesaler who will provide you ready-made garments, and you tag your label and start selling in the market but be sure first you take a trial of two-three buyers and then decide.
One more option is available to open distribution centers for existing brands, and in this case, you tie up with manufacturers or small-scale designers.
Targeting your Market
There is huge competition in the ready-made garment sector; therefore, this is necessary to do market research before entering the business. Do market survey for the existing stores and recent clothes in demand to understand the customer need and find out which type of customers are best like in India ladies are especially known for shopping and trendy clothes. However, time is changing now. Men are also becoming trendy and updating their wardrobes with recent fashionable clothes.
Now your trend of clothing when decide, start finding gaps in the live market and try to fill your store with that part means that type of clothes which other are not selling but customer demand more. This will help you get stable in the market and run your business smoothly; otherwise, there is huge competition in the ready-made garment market, and you have to face a lot of competition.
Try to sell such kind of clothes which other are not getting on time and customer demands more. Your market survey takes factors like age group, geographical details, culture, etc., of your targeted customer and understands the fashion going in movies, rock music, comic culture, etc.
Market potential information is also attached with the project report of the garment shop. The latest report on the textile industry is attached for market information.
Finding the Right Location
Location is a crucial part of any business, and you need to open your store in densely populated areas or mall where you will get huge customers. Still, you also face competition, so be very careful while selecting the location. As for the store’s interiors, the physical premises must be carefully looked at like a place for inventory stock, changing rooms, storage shelves, and counters. The appearance of your shop must be appealing to eyes and should be clean and approachable to customers.
Also Read: Boutique Business Plan
Get your finances ready
Firstly your business plan and project report is properly scheduled with details like objectives, missions, ownership pattern, type of apparel you wish to sell, and the set-up costs. This will help present your business plan to an investor or bank facilities for a loan. Without capital, no business can rush into the market. Funding is the main point for any business. Also, present a market analysis report as this will help you take a loan from banks and act as a guidebook in running the business, especially when you are new in the business. Helpful in setting market strategies and maintenance costs during the running business.
You need all legal formalities done through the proper channel and obtain all necessary licenses to run a business. To complete the legal formalities, you must have the project report of the garment shop. Take proper tax invoices and business licenses so that you will not face any issues. Also, apply for GST registration by submitting all legal documents with PAN Card and insurance details. Take legal counselors to help if required but don’t take gaps. If you don’t have GST, many respected companies will avoid doing business with you as you violate tax laws.
With digital India, everybody wants material at their doorsteps, and it is very convenient to do online shopping rather than wandering in the markets with a huge crowd. To serve such types of demands, opening online websites or apps of your stores or selling to third parties like Myntra, Ajio, Flipkart, etc., while starting your app or site, you need to plan logistics cost means transportation cost from warehouse or factories to store.
Stock maintenance is very important in such kind of business. If you don’t have smart skills, then you are wasting your money. Before stocking huge stocks or manufacturing in bulk, always go for trial basis and small stocks. First, check how well your work is going, then order in bulk. Stock clothes in demand and clear old stocks also. Stocks can be seasonally based also but properly managed. You can start POS (Point of Sale) software for effective inventory maintenance like other retail stores.
Please make a list of people you want to hire like salesperson, accountant, helper, etc., and your staff must be capable of facing customers and help them by giving suggestions. Staff must be knowledgeable about apparel trends. Also, hire one tailor at your store so that simple alterations you can provide easily.
Pricing is the key to profits for any business. During the market surveys, understand the costing pattern in the market and then decide your cost and think about profit margins. Secondly, if you are selling some unique designs, then you have the liberty to set the cost price slightly higher.
Marketing is a crucial aspect of the ready-made garments business. It is a continuous process, but one must plan before starting the business. Increase your marketing to such an extent that you reach people to gain new business prospects and get maximum customers to the store. Market information is also available along with the Apparel Shop Project Report. For the latest market information, the garment industry report is attached, along with the project report of the garment shop.
Here are few marketing ideas which you can adopt:
Create a brand that is catchy and attractive, which means your store name or logo. Your identity should speak of your theme and instantly get people to connect; otherwise, you will be out of competition. Here are some tips:
- In starting means your first introductory week of opening business, give some discounts and free accessories or gift vouchers.
- Create your website attractive and update all necessary information like discounts and all.
- Always active on social media and have accounts on sites like Instagram and Facebook, where you regularly post photos to grab your customers’ attention.
- Target your customers through e-mail marketing.
- Publish testimonials and positive customer feedback on your website to attract new customers.
- Interact regularly with your customers on social media to get reviews.
- Must join fairs and exhibitions to catch more and more customers.
- Start loyalty programs giving out discounts to regular customers.
- Also, opt for traditional style advertisement mediums like newspapers or radios, or pamphlets.
Always maintain a balance between the cost of the product and quality to satisfy your customer’s value for money. Do not move towards too cheap or too expensive products. If you are sourcing from any third-party manufacturer’s then always check your quality meets the given specifications or not. Good packaging also attracts customers. Always keep in mind middle-range customers because this is the best way to attract repeat customers.
Wrapping it Up
Although we can see that the ready-made garments market is down due to this pandemic situation, there is still hope for new people in business. In India, it shows stable growth and gives large employment. When you enter this business, the primary focus is on the quality of products sold and excellent customer service. By doing some hard work and keeping an eye on current fashion, you can succeed in this business.
In which format we can download the project report of the garment shop.
The Project Report of Garment Shop is available for download in PDF format.
Is there a good profit you make in the ready-made garment business?
Yes, in this business, profits remain between 30-60 percent, but for international brands, this increases gradually, and on some brands, the profit margin goes more than 50 percent.
Is the ready-made garment business is struggling these days?
No, it’s not like that, but every business has some pros and cons when you start. This is a very profitable business in India, but one should keep open your eyes always and don’t be upset during ups and downs in the market. Here your market survey is very beneficial.
What is the GST rate on ready-made garments, and how is it important?
This is 5%, and when ready-made garments of sale value do not cross Rs. 1000 per piece than 5% GST and when sale value exceeding Rs. 1000 per piece attract 12% GST. GST is very important as this will help you to start your business with bigger brands.
What is the risk in this business?
Every business has some risks, but you have to maintain your patience to stand in the market. These are some important risks:
- If the inventory in the store be effective or not as per market demand.
- People will come or not to new stores
- The main goal is profit achievement is fulfilling or not
- The business will run smoothly or collapse
- The employee will give their 100 percent to earn profit or not.
For whom are these sample formats useful?
The sample format of a garment shop project report is useful for the following persons.
- CA Chartered Accountants
- Tax Consultants
- Small Business Owners
- For project study and research
- In addition to those who want to prepare project reports themselves.