Starting an Online Business

Starting an Online Business

Startingan Online Business

Startingan Online Business

Fortunately,the current unemployment rate has dropped by one percent, but stillapproximately eight million people are unemployed. It brings up theneed for self-employment, but then, that may require too muchcapital. Alternatively, one can engage in online businesses becauseit does not require much capital investment (Tobin, 2012). On theother hand, technology is currently essential in every part of thesociety, especially in the business sector. The online companies arebecoming popular due to the numerous advantages they offer. They areexceedingly flexible and have higher efficiency in service andproduct delivery. The entrepreneur also saves costs in staffing andrent. Moreover, the businesses are always accessible to the customersworldwide (Tobin, 2012). Consequently, starting an online clothingbusiness will be a lucrative opportunity because the apparel industryis steadily growing.

Thefirst step when starting an online business is to learn of the needfor a particular product and fill that want (Tobin, 2012). There is abroad range of products such as kids, men, women, and teens clothing.However, the business can start by selling clothing for teenagerssince they offer more possibilities and later start selling clothesfor other age groups. The entrepreneur can also stock a variety ofclothing without many restrictions (McKelvey &amp Munslow, 2009).Besides, the young people rely on the internet for almost everything,which means that they will most likely visit the website.Nonetheless, the market already has large well-established businessesselling to millions of customers in both physical stores and online.Therefore, starting this business will require simple starting stepslike selling clothes from popular brands in the market. According tostatistics, consumers purchase more than 20 million clothes eachyear. Although most of the consumers buy from physical storelocations, setting up a clothing business online that carrieshigh-quality products makes up an attractive business opportunity(King, 2007).

Whenstarting an online business, registering a domain name is the firststep. However, the entrepreneur should avoid security risks by beingaware of potential frauds (Tobin, 2012). Subsequently, they shoulddesign and build a website that will serve as a portal for thebusiness. The company website should be as straightforward aspossible, but most importantly, it should emphasize on the clothingproducts on sale. It should also use search engines to drive thepotential customers to the businesses website. Furthermore,advertising and marketing are vital to every business. The onlinebusiness can only be successful if it has customers who mainly comein the form of visitors to the site (Tobin, 2012). The business willneed to establish an expert reputation. Currently, the internet isused to find information on various things such as the trending clothdesigns and most respectable brands in the market. Therefore, whenthe business owner links his or her business to reputable brands andmatches the products with the best clothing designs in the market, itwill improve the business’ reputation (Tobin, 2012). Besides, theentrepreneur should be an active expert in the clothing industryforums and social networking sites where the target markets mostlyvisit. On the other hand, they should also establish a purchasingrelationship with a clothing distributor that offers the desiredproducts.

Nevertheless,it also requires setting up the business will require finding thenecessary funding. The entrepreneur should look for an angel investorin the clothing industry. The apparel industry has some of theworld’s most rapidly growing companies (McKelvey &amp Munslow,2009). There are also many small entrants starting Brick and Mortarstores and online clothing businesses, which are growing fastallowing them to bring their products to the global market (King,2007). Therefore, many financiers are investing in the apparelindustry, which will make it relatively easy to get an investor.According to statistics, the apparel market size is expected to growto $285 billion in the United States (King, 2007). Other regions arealso expected to have similar growth but at different rates. Laterthe entrepreneur can develop and expand the business to make customclothing, which are also gaining popularity in the market. It canalso include co-designing and do-it-yourself. These two concepts arebecoming increasing important in the clothing industry, and theonline business can use them as growth and development strategies(King, 2007).

Inconclusion, online businesses are currently one of the mostattractive ventures that generate income and require less investment.Then again, the clothing industry is improving, and the demand forclothes is diverse and high. Besides, there is a range of productsfrom children, teenagers, men, to women clothes to sell. However,just like any other business, starting an online business requirecapital. In such a case, the entrepreneur can use an angle investorfrom the apparel industry. Although, starting an online business doesnot require rental expenses, the capital investment is required forsetting up a website and buying the products. Moreover, marketing andadvertising is necessary when starting a business to inform thetarget customers of the company’s existence and the range ofproducts it is offering. Nonetheless, the business has to sellhigh-quality products from reputable brands to attract clients andmaintain a good reputation in the market. Starting a business may bechallenging but with the improved planning and marketing strategiesit can prove to be a worthwhile venture.

References

King,H. (2007). Theclothing industry.Oxford: Heinemann Library.

McKelvey,K., &amp Munslow, J. (2009). FashionForecasting.Chichester: John Wiley &amp Sons.

Tobin,L. (2012). Entrepreneur:Howto start up your online business: Chichester:Capstone.