Here, our Tailoring Shop Detailed Project Report (DPR) deliver after thorough project analysis, which is created based on deep research and rich in graphics and pictorial view and contain required information or data to fulfill its purpose for Bank loan, Government Sponsored Scheme etc.
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In our reports, you get every micro detail and accurate level of calculation as per the banking guidelines, acceptable to every bank, Non-Banking Financial Company, Government Departments and other financial institutions etc. These reports are very straight forward contain honest descriptions, neat, readable, and to-the-point. Reports are well spaced with titles and subtitles and are free of language errors.
Our report preparation team makes sure that the report is concise and transmits maximum information with minimum words. It guides you to show a roadmap for your business in the longer term. Every bank always has a look at your project report before they lend out any money. It’s important to have a report that’s clear with simple language, easy to understand and one that will offer a real insight into the business ideas that you have.
Tailoring Shop Business Project Report & CMA Data for Bank Loan.
India is well known for various fabrics like silk and other fabrics and also for bright colours. If we talk about tailoring means like sewing, then nothing is better than the tailoring business. Lakhs of Indian who run their shop or boutiques with beautiful and creative ideas and if you have the power of creativity towards the fashion industry, then tailoring business has a lot of potential opportunities available.
In a tailoring shop, sewing or altering clothes at your own is a good business idea for anyone, and hundreds of people search on Google for a cloth alteration shop and maybe someone from your area in need of this. You can also do some specialization in different styles like kid’s dresses, bridal clothes or other dress costumes.
Tailoring business classified into two different parts
- Sewing and Alternating Business – This is the primary form of the tailoring business. If you start this from your home, then it’s a perfect option, and later on, you further grow and develop your services in the same type or do more addition in your work.
- Sewing and Designing Business – This is the different typeof tailoring business where you don’t only sew or stitch clothes according to your client’s choice but also do some designing work side by side and sell directly to your customers. This is á kind of boutique form where you have to use your creative ideas to make newly designed clothes for your customers. All this is part of this business.
Necessary steps for tailoring business
Business plan project report
For any new business startup, make a business plan project report. It includes all the things you are going to do in the coming six months or one year to initiate your business. Also, you have to decide on which type of clothing you are going to work or your area of specialization.
In case you are staying in an area where people love to wear readymade clothes and not bothered about fitting. So, here your target is the alteration business and for that you need proper and enough space and if not possible then a separate room at least available in your house for the alteration purpose.
Now, write down your a project report for tailoring shop in which includes all expenses and do all possible studies to understand how your shop will be a profit-making business. These expenses include rent, tools and equipment, office supplies, insurance, utilities like electricity, telephone, accountant or other professional assistance if required.
Also, do some other studies like charges taken in different shops for cloth alteration and decide your rates so that you understand how much you will earn in one month.
Training and Learning
It is perfect if you know stitching at your home and designing clothes for your family members but to become a professional. You need to learn upgraded techniques and have the right skill set. You can join some vocational courses on designing and stitching to make yourself more creative.
Also, you can join an already established business as an assistant or nonpaid employee to take experience because, at this stage, experience matters, not money.
When you have prepared your project report, then you understand the estimated amount required for different expenses like shop rent, employee salaries, tools and equipment and other things like utilities. Funds you can arrange at your own or by taking a loan from different schemes like Pradhan Mantri Mudra Yojana, Pradhan mantra employment generation Program etc. or from banks under various schemes. Cooperative credit societies also provide loans for small businesses.
Suitable Locations Tailoring Shop project
Location is the most contributing factor in the case of the tailoring business. The prime location for your tailoring store is near a residential area, within reach of customers of every age group like not present on the first or upper floor. If you start somewhere near office areas, then you have to struggle for the customers. Best place if you open a shop in a shopping mall where clusters of women found almost all the time although rent may cost high, you can quickly pay.
You can go to a small place in the residential area also as it is a good option for the startup.
Before finalizing the name for your tailoring store confirm that it will not match with any “Registered” trademark of any other tailoring store or organization of the same type because it is objectionable and against the law to use the name of other tailoring shop trademark under copyright law without centre permission.
This is very personal like your kid name so you can run business with your name or something which you love most, or you can go with words like fabric kitchen, City sewing, pacific Trimming, stitch boutique, fabric alteration store etc. Also, you can take ideas from your friends and family.
Registration and legalities
For a professional business, you need to go with rules and regulations. Therefore you need to register your shop with the state registrar and if you start as a sole proprietor then register it as a proprietorship business or if you are doing in partnership then register it as limited liability company or partnership. Also, consult you can consult some knowledgeable person for all registration and legal work and then register your business.
Further, for this business, you need to open a current account with overdraft facilities and the bank can ask you to share your registered documents and tax number like PAN etc. In addition, you need to maintain some basic things like Cash Receipts Journal, Cash Disbursement Journal, check Register and keep files for advertising, office supplies and miscellaneous operations.
Purchasing the tools and equipment
The primary requirement in a tailoring shop is an industry-grade sewing machine and an overlock machine. The home sewing machine is not capable of professional work, although you can do small alteration work from home. Home sewing machines generally run for short hours while professional machines work for long hour’s capacity. Other than sewing machines and an overlock machine, you need to purchase the following working aids:
- Scissors for cutting fabric
- Chalk for marking,
- Scales and curves,
- Measuring tape,
- Pattern paper,
- Seam opener
- Work aids – like unique pressure foot for hemming and picot stitch. (Hemming and picot stitch can be done manually)
- Raw material requirement: Threads and supplies
- Some hangers, rack, and stands
- Electric iron
- Storage Shelves or Racks for fabric storage
A separate area called a fitting room is required for the trial purpose in a professional shop, and if space is less, then you can go with detachable sidewalls and a curtain in place of a door.
Ensure that the area has sufficient lights for work and customer. However, so many interiors are not required, one thing make sure that your shop does not look messy when the customer enters, therefore, a proper curtain placed on shelves or area should be separate by a curtain or provide big racks.
Provide carry bags for your delivery items and if possible, provide your shop name and contact number on the bag as it is also a good option for marketing purposes.
When you start with a small shop, then you don’t need to hire staff but when you begin professionally or have more than gone for hiring. Firstly, you can start with a part-time basis like some employee working in other shops may want to join your shop on a part-time basis and later you can hire permanent employees when your business does well.
Some business shops operate by hiring women who work from home, and you can provide charges per piece and when work complete they send back to the shop and in this way you can do your savings and provide work also. But in this case, you have to be more observant of work that it is up to your standards. Most of the time, cutting is done at your shop and only for external sewing work is provided at houses. Sometimes externally given for work like embroidery or any patchwork. But all this you do only when you have permanent tailors and cutter available, and you only manage work.
Always try to hire quality tailors and cutters because fresher without necessary training may spoil your business work. However, you have to pay them a little bit higher than the normal range. Fresher you can hire as assistants for small work like attaching hooks and hemming. Do not compromise with the quality of sewing any time not in beginning or in-between or at any step as the business runs with quality work, and this is an essential requirement of your business.
For a business, a written tailoring shop project report customer care policy manual is essential as this will ensure everyone in your business how to behave with customers and with their sometimes rude behaviour.
Always make sure this mentality in yourself and your staff mind that ‘customer is king’ and is very important from day one for the success in the tailoring business. Also make sure that you provide work on time whether its alteration or new work because the disappointed customers can badmouth for your work and as a result, you lose customers. But on the other side, don’t provide an advantage to these types of customers. Always keep the policy written on the bill and paste somewhere in your shop where it is visible and readable to everyone. Include points like ‘no extra alterations’ after two days of delivery or like ‘we kept your product for 15 days from date of completion’ etc.
The best marketing way is customer’s mouth means if you satisfy customer, then you don’t need to do marketing as your customer will do it automatically by way of right words to their friends and family. Also, you can use printed pamphlets dropped in your locality or inside a newspaper, also use print flex banners or display in your locality for marketing. Also, you can use digital services for marketing like Facebook, WhatsApp etc.
After some time, try to expand more your business like paste posters near dry clean shops or cloth dyeing shops or near food centres as this will increase your revenue without extra expenses.
It takes a lot of courage to start a business from zero and reach the highest level. It gives you an incredible feeling when you get success and sustain that also where no one can beat you.
Scope of tailoring business in India
Earlier you have to wait for some occasions like Diwali, but now the standard of living increases and people are not restricted to only festivals so now they want more clothes across the year. So, if you have the talent and the right approach, you can work well in this business.
Some of the significant benefits are –
- You can do creative work with your ideas.
- You can work independently with your choices.
- In the beginning, you can start on your own and later hire people.
- The initial investments are significantly lower as you need only a sewing machine and stitching materials. Based on that, you provide samples and start work publicly.
- Profit margins are quite attractive when you work with your ideas.
- You can start your business anytime by sitting in just a single room or a rented place.
The main drawback is there is a cut-throat competition in this business means if you start from your home, you need to provide something different to the client to attract them as there are so many tailors in your Gali/ mohalla. It would help if you had patience in this business as so many clients don’t understand fashion and give you big lectures on that or ask so many questions to modify your designs. All this you have to handle carefully with patience if you want success in the tailoring business.
Project Report Format
In our project report format, we cover technology details, its diagrams, flow chart etc.. as and when required or deemed fit to include. Also, prepare in-depth financial calculations including CMA which is necessary for the Investor/bank.
Key Points Cover in Detailed Project Report on Tailoring Shop
As mentioned above, Tailoring Shop Detailed Project Report (DPR) is a complete package that contains everything that requires getting funds up to 25 Crores (Twenty Five Crores). Checkout our DPR sample to make your vision more clear. Usually, the Detailed Project Report (DPR) is needed when you apply for a bank loan or Government scheme. Project Report Bank aims to create the reports accurately from the start and make sure that businessmen get the right value and results from the reports.
The following are the key points we generally covers while making DPR, whichever relevant to your business :-
- Introduction to Project and Industry
- Executive Summary
- Profile of the business in the country
- Project Evaluation – Social Angle
- Analysis of basic variables
- Socio- Economic Advantage
- Impact on environment
- Foreign Trade Income
- Value addition
- Import replacement
- Technology assimilation and so on
- Present condition of the business
- Consumer Inclinations
- Market Prerequisites
- Market Portions
- Distribution Channels
- Market Qualities of the Item
- Export Possibilities and Global Market
- Marketing and selling game plans
- SWOT Analysis
- Particulars Of Existing / Proposed Bank Credit Facilities (Form – I)
- Projected Profitability Statement ( Form – II)
- Projected Balance Sheet (Form – III)
- Comparative Operation Statement (Form – IV)
- Maximum Permissible Bank Finance MPBF – (Form – V)
- Cash Flow Statement – (Form – VI)
Monetary Projections Details Contains:
- Cost of Project & Means of Finance
- Details of Raw Materials
- Details of Utilities
- Human Resources Planning
- Technical Manufacturing Business Process
- Assumptions in monetary projections
- Projected Sales & Production
- Cost of Production and Profitability
- Fund Flow Statement
- Working Capital Cycle
- DSCR – Debt Service Coverage Ratio
- BEP – Break Even Point Analysis
- IRR – Internal Rate of Return
- ISCR – Interest Service Coverage Ratio
- Calculation of payback period
- Debt to Equity Ratio
- Working Notes for Monetary Projections
- EBIT – Earnings before interest and taxes
- EBITDA – earnings before interest, taxes, depreciation, and amortization
- Cash Burn Rate
- Discounted Cash Inflow & Outflow
- NPV – Net Present Value
- Net Worth
Report Size : 40 – 50 Pages,
In which, Financial Projections : 18 – 20 Pages
Get Detailed Project Report
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