Buying clothes wholesale and reselling can be a very profitable business. There are quite a few niche areas and one that is growing is selling infant, baby and children's coats. But it is important to do some research before leaping in. Doing it correctly means, making a plan and sticking to it. Here's an overview of how to get started in the baby coat business.
First and foremost, know the competition that is out there, it is important to know the trends and marketplace. There is money to be made in all aspects of the business, but it is important that you stake out a specific area you want to be in. For example, do you want to sell the newest designer styles, or do you want to go for more traditional styles? Either one of these choices may be profitable, but it is important to know that before going in to your business venture. Check trade-magazines and online sites to get some information on the business. Attending trade shows is a good way to pick up on the next big thing and also meet potential suppliers.
One must also think about distribution. Many people think that doing business online is simple, and while it is simple to set up, it takes work to build up customers. Think carefully about what makes your business unique. Selling the same old thing in the same old way is likely not to bring too much success your way.
Pricing will be driven by the market place, product and distribution model you've chosen. If going for the high end of the market, you'll want to command a premium, but it is important to know the different pricing tiers. Do your homework. Get out and start visiting stores and looking online. No matter how unique your product and distribution is, pricing is still crucial.
You should also give a thought to potential promotions. Again, look at retail to get ideas. Perhaps you want to sell or provide a complementary product like a scarf or hat with the purchase. Think creatively and put yourself in the shoes of the customer.
In terms of finding a supplier, most turn to the Internet. While this can be a good first step, it is also good to review trade magazines and attend trade shows. Buying from wholesale requires a good business head as well as a rationale brain to choose suppliers. Reliability and integrity in business dealings is the key to success. The lowest price on coats and jackets won't do much good if you can't get products to your customers.
One important consideration in addition to price is delivery capabilities. Depending on your distribution model, it is worth considering direct delivery as a business model. With direct delivery you do not take physical possession of the items; the supplier ships them directly to the customer. You are responsible for sales and marketing and the supplier for manufacture and fulfillment. This can make the process much simpler.
Another key thing to investigate with potential suppliers is capabilities and reliability. It is important to know what kind of volume a supplier can handle (your business is going to take off so it is important to know!). Also, be sure to get sample merchandise. As an ultimate seller, you'll be responsible for customer returns and complaints. Be sure to know what you are selling so you can describe it properly and that it meets your expectations.
Start on the small side and work up. Your first order should be conservative, no matter how confident you are in your business.