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TV sets can cost between $ 300 and $ 500 each, while internet access can cost $ 100 or more per month.6) Web hosting If you want a website, you need a website and host builder to keep it online.
), but you should also keep into account the fierce competition which is there in the business nowadays. Learn time management and be very earnest in practicing it!
By careful analysis of the market and knowledge of the know-how, you can start your business off in full swing. Different types of tax, Labor Laws, Environmental Issues–You don’t want to run into penalties for not following the labor law, tax-related laws and environmental laws in your country, it is often heavy on the pocket!
For example, if you know that the jerseys you want to sell usually cost $ 20, you can assume that the margin of 25 percent, you can buy from the manufacturer for $ 15.5) Equipment and technology Key elements such as point-of-sale systems (POS), computers, Internet access, televisions, mobile payment pads and other IT costs are not cheap.
POS systems cost about $ 2,000, with an additional $ 550 per workstation.
Make a report for at least one year and calculate the overall expenses of your factory. Advertise, advertise, and advertise, though ensure the advertising cost is within the planned budget and always calculate the Return on investment(ROI). From the day one focus and run towards the break-even which is the first success for any business Ensure you can run the show for at least a couple of years without entering the profit zone. The above-mentioned points are some of the major things to be kept in mind.
Buy the required manufacturing equipment form reliable companies.
To do this, you must have a good knowledge of the world’s major textile centers, global textile market size, fashion design agencies, etc.
From where you can buy a high quality product for your store at a reasonable price.
Talk to a successful business in the sector to know the challenges and setbacks. Ensure you are not spending too much initially for rent.
When starting any business, you need to know about things like: You can’t start a woolen textile unit in, say, a hot city like Chennai, where the demand will be very poor. Another option you could consider is, sharing a percentage with the building owner as an alternative to renting, that will not only help you in cost-cutting that will bring in additional contact for you.