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Maximizing Your Profit in the Apparel Industry

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The clothing industry is among the most lucrative in today’s world. It is already huge and still growing at 5% annually with a 12 and 14 percent growth in the women’s and men’s wear departments respectively. On a global scale, the clothing sector rakes in over three billion dollars annually. With such statistics, investing in anything other than the apparel sector sounds like a misinformed decision.

Though lucrative, the clothing industry is highly competitive. An apparel franchise is your best way to gain a footing in this sector rather than going it alone. Franchising with an established company in the clothing industry introduces you to the market and minimizes most of the startup hiccups you are bound to experience when starting. Profits will, however, not automatically trickle in once you get the right franchisor. You will have to take the essential measures to guarantee that you maximize your chances of profits. The following are some of the steps that will boost your earnings in the clothing business.

Build a Strong E-commerce Platform

Online shopping is one of the highest revenue earners for clothing stores nowadays. Other than online shopping, the e-commerce website will showcase products to entice local foot traffic to your physical store. Your first order of business is putting together a stunning website. Get a reputable web designer to guarantee that the site will be fully functional and boost your online market rather than turn them off. Professional photography is essential for your website so that you showcase your products in the best possible light.

Go Beyond ”Straight Sizing”

Straight-sized clothes generally range from size 00 or 0 to size 12. These clothes only cater to petite shoppers and lock most people out. The worth of plus-size women wear, for instance, is now estimated at 17 billion dollars and is yet often overlooked. When just starting, it is unwise to focus on only one size of clothes. Go beyond straight-sized garments so that you get as many shoppers as possible through your store’s doors.

Know Your Clients

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Market research to determine your clients’ personas is essential before opening a clothing store. Get to know what will drive customers into buying your clothes. This does not have to mean a considerable investment in top researchers and experts. The research can be as simple as sending your employees to malls to get the views of your target market or getting opinions from your online market on your social media pages.

Create a ‘’Cult Status’’

The most prominent advocates of your store are your loyal customers. Create a close relationship through various marketing channels and nurture them. You can also do this through loyalty cards and frequent giveaways to loyal customers. These clients will be the biggest driver of customers to your online and physical store.

With these strategies coupled with the right franchisor, getting a piece of the clothing industry profits will be a guarantee for you. Moreover, you will be assured that you will remain open after your first few months in operation, unlike most startups. Most franchisors offer business training for their franchisees. Take advantage of this to hone your skills.

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