The,Dos,and,Don,Starting,Whole business, insurance The Dos and Don’ts of Starting a Wholesale Clothing Business

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The wholesale clothingindustry is among of the fastest growing industry today. May it beoff or online, the wholesale clothing business has become the largesttrend around the world. This is because of the reason that peoplealways needs clothes, it is both a necessity and a luxury.Majority of individualsthat set-off and start their own wholesale clothing businesses arethose that already own a clothing retail business. These people arethose that wanted to expand their businesses and earn more by sellingtheir stocks in bulk. Though these kinds ofpeople have the necessary experience in handling a business, awholesale is still a different business that involves processes whichare distinct from those of retail. One of which is customers. Insteadof selling to the public, wholesalers engage a business to businesssystem in which wholesalers sell directly to other businesses such asretail businesses, retail distributors, exporters, and otherwholesale businesses.But other thancustomers, there are also other processes that make a wholesalebusiness, in this case a wholesale clothing business, different froma retail business. Having no knowledge about these processes couldlead the business to bankruptcy. So here are some Dos and the Don’tsof starting a wholesale clothing business. Choosing a StorageLocationDo: Choose a storage orwarehouse located near the manufacturer and retailers. Choosing alocation that is physically near from a supplier or retailers cansave more time and money when in comes to transport. This isparticularly important for those that are only starting out. Also, check if the costof the rent or space is applicable for the amount of capitalallotted. Do a research about several locations, if the place ischeaper than the others, and perfect because it’s physicallynear the market, then that is the most appropriate location.Don’t: Though thelocation is cheaper and near to the market, if the area and thelocation itself aren’t secure, then that is not the perfectplace to start a wholesale clothing business. Don’t start awholesale clothing business on a location that offers too little orno security. Also, check if the location offers some laborsaving tomaterial handling, warehousing methods, or inventory procedures. Ifthe location cannot provide those, then the better thing to do is tochoose from another place.Order FlowProceduresDo: Do a systematicallyplanned order flow system. Careful planning of the order flow systemis essential for starting any wholesale business. This is becausewhen the orders from the customers start to come in, the procedure inwhich the stock is processed must be done thoroughly andsystematically. This is to avoid unnecessary mistakes when theretailer phone’s in and inquire about their stock and finds outthat their order will be coming late.Don’t: Avoidmaking the mistake to not update a customer of their order. Make surethat they are filled in with the information they deserve about theirstock. So as much as possible, give them the information they need,and don’t delay them.CustomersDo: Do a list of thosecustomers that you have failed to get. Apart from making a list ofyour own line of retailers and wholesalers, it’s also importantto make a list of those that you failed to have. This is to keeptrack on their activities such as if they are still loyal to otherwholesaler or have already left to find another one. Or if you needanother retailer on your wholesale clothing business, you could askthem again to join you. You might be surprised and find out thatthey’re now willing to join.Don’t: Don’tinclude those that can’t show any supporting documents on theirbusiness. When looking for a dealer or distributor, make sure thatthey have legal documents that permit them to resell your products.This can ensure your business’s security.Competitive CreditPolicyDo: Do a research aboutthe competitiveness of giving credits. Giving credits to retailersand other customers is a common thing when it comes to wholesaling.It is part of every wholesaler’s strategy to lure customers ontheir business, especially on a wholesale clothing business. Thisallows them to buy their stock and pay for it when they have enoughcash to pay. Setting up a competitive credit policy could give anywholesalers an edge when it comes to attracting customers to theirbusiness.Don’t: Don’tgive any credit to those customers that can’t represent acomplete documentation, papers, and permit for their business. Makesure that the customers are capable of paying back the credits theytook. This is done by checking up on their references. Check if theywere able to pay on time and complete. If they don’t have thepapers or any other supporting documents of their recent credit, thendon’t give them any credits.Maintain A CloseContact with Retailers and Other CustomersDo: Maintain a goodrelationship with customers. Maintaining a good relationship withcustomers is the one of the most important aspect that everwholesaler should practice. In a wholesale business, in this case awholesale clothing business, keeping in good terms with customers canproduce good results that may help proliferate the business such asloyalty and trust.Talking with them,listening to their suggestions about the business, asking them onwhat’s on the demand in clothing, are the ways that can insurethem that you are concerned about the success of your business and ofthem. This builds up the credibility of a person as a wholesaler whenit comes to doing business.Don’t: Don’tlet the customers feel as if they are just things. Mistreating acustomer by letting them face a secretary or talk to answeringmachines could degrade their loyalty and trust to the business whichcould then lead them to leave. Lack of communication could alsoaffect the wholesaler’s credibility in handling a business. Somake sure to communicate with customers and talk to them personallyas much as possible.