Startup Business Idea # 3 – A Uniformed Tailoring Headquarters (The Need Of The Hour)
Right from following the Fashion Week in Paris to subscribing the Vogue magazine, everyone has their way of keeping up with the latest trends when it comes to clothing. After all, who doesn’t want to be clad in trendy clothes while stepping out of their house? Regardless if it’s for a wedding, event, office wear or even in casual life, people always want to be trendy! It’s quite common for Indians to find the fashionable design in a magazine, find material similar to the dress and give the material and the design to a tailor. Hence, the importance of tailors, especially in India, cannot be stressed upon enough. While there is a reasonably prominent market for ready-made clothing, Indians generally prefer getting clothes stitched as per their requirement.
The tailoring industry in India is enormous. But can it be better?
In this article, we have analyzed the tailoring market and have identified a gap that is sure to be a million-dollar idea. We found the need for a uniformed tailoring headquarters, as it’s indeed the need of the hour.
The Market Potential
A large chunk of the Indian population has mostly been brought up in tailored clothing. This was because up until 1990, the garment industry was restricted to smallscale manufacturers. And now, in this new decade, the need for tailors is on a constant hight. A study shows that the Indian luxury industry, primarily dominated by bespoke tailoring, is close to $US 4.3billion. Among this, the apparel section contributes nearly 20-25%, which roughly amounts to US$ 850 – $1100 million. Moreover, explicitly speaking about bespoke tailoring, the market is valued at US$ 260 million and is growing at an impressive 15-20%.
Moreover, the local tailor is also making use of the rise of online and e-commerce platforms as they partner with firms like Myntra, Abof.com, etc., wherein they fix fitting flaws. Due to this, the local ‘darzi’ is back in demand, both offline and online, as they become the perfect solution to mend a sales gap that is caused whenever ill-fighting clothes are returned.
While there is no doubt that the tailoring sector in India is massive, there is the scope of improvement, mainly because there is no uniformity among the tailoring community. The entire sector is unorganized with each tailor working separately for lesser costs. This unorganized sector has quickly turned into a curse for tailors as they aren’t able to leverage from the market to its true potential.
Moreover, due to the lack of a common platform or insufficient knowledge, the majority of the tailors miss out on opportunities to make use of online sites to get and service more customers. For example, a lot of people would love to select what tailoring they want online and then have the final product delivered to them. It’s not an unheard-of concept, it’s practically happening across all industries, except when it comes to tailoring.
A uniformed tailoring headquarters can be the answer to this. Are you ready to find out how?
Almost every industry today is flourishing after coming under an organized structure, be it milkmen or laundry services. The main reason behind this is the conveniences it provides to customers and the lesser cost to run the business for the vendors. That being said, the industry that is in dire need for both of these factors is tailoring.
You can create a uniformed tailoring headquarters based on various areas and cities and the demand present there. This headquarters would provide 360-degree tailoring services, including owning a premium facility for weddings and other occasions. For the ease of customers, an online platform can be created wherein the customer needs to provide details about their requirements, and the final product will be delivered to their doorstep.
For added business opportunities, you could even make use of the government’s Skill India initiative. The Skill India initiative was launched to empower the youth of the country with certain skill sets that can help them seek employment, wherein they can prove to be productive and useful. One of the most commonly taught skills under this initiative is skilling. Hence, you can use this initiative to build a large force of tailors who are capable of undertaking entire areas’ tailoring needs at a more affordable price!
So, grow your business by increasing the employment rate in India while making Indians more fashionable!
Consumers, Earning and investment input-