Question: Can you suggest me the procedure, risk, cost and other factors in the business of ready made garments. I want to start ready made garment business in Mumbai, I have 15 lacs to devote this business, please suggest and give me some basic idea about the kind of business.
Answer: You want to start the ready made garment business. The capital you have is enough to start the business. Dear brother first of all you can start the business with rented premises as you have not given any information whether you have any shop of your ownership so presuming you don’t have you first find the area which is high density area crowded by people, you may select malls or can open individual shop.
Then select the type of garments you want to business in. You can deal in ladies garments or kids’ wear or gents’ garments or ceremonial garments etc. It may also possible you can deal in more than one category of garment.
Aware customers about type of and variety of garments available in your shop so that they will spread the same information in an informal ways to those whom they know this way indirect advertisement will be done. You have 15 lacs you can very well utilize this amount.
First of all you require shop deposit around Rs. 2-2.5 lacs then good furniture to attract consumers then keep stock around Rs. 12-15 lacs. Half the amount you will have to pay and for the balance you will get credit from supplier so that much amount you can utilize elsewhere. This way plan your business and most importantly get it registered with local authority with the name you prefer.