Feasibility study for a clothing project. The clothing project is considered one of the best profitable projects that is spread very widely in various countries of the world, as a result of its wide popularity in achieving the highest rate of profits, as clothing is one of the daily needs of any person, whether man, woman or even a child. One can walk without clothes, so we will talk in this article about the feasibility study of a clothing project.
Feasibility study of a clothing project
Many individuals who want to achieve a suitable financial income have turned to work in a clothing project, and it is worth mentioning here that this project at the beginning had to have a special place to sell clothes, but the matter is a little different, now anyone can market and sell online.
But we will talk in this article about the feasibility study of a clothing project that is present in the commercial arena or in the labor market, not online marketing, so that we know first, dear reader, what is the reason for the widespread of this project.
It is a high demand for clothing by everyone. The reason for the high profitability of a clothing project is due to two main reasons:
The first reason: is the high-profit margin, in many cases, the value of profit per piece is 20% or more.
The second reason: due to a large demand, as we mentioned before, clothes are in very strong demand in all parts, especially in the periods of seasons and holidays when the demand reaches its peak.
Since the clothing project is like any other project, it must be well and properly planned in order to ensure the desired success as a result of its implementation on the ground. Therefore, it must conduct a feasibility study.
As for how to implement the feasibility study of the clothing project, its owner can carry out it alone without resorting to anyone, but he must have sufficient experience and skill in this field to achieve an appropriate profit rate.
Or the assistance of one of the experts and specialists in the field of carrying out feasibility studies to help him implement the feasibility of his project, and one of the best companies in this field as it has a skilled team of experts in carrying out all kinds of feasibility studies is the (Technology) company.
It also provides administrative advice to the project owner to prove his presence in the labor market.
Feasibility study of the ready-made garments trade project
There is no doubt that a person who wants to start a clothing store project, even if it is small, wants to achieve success and good profit, so it is necessary to do the following:
Determine the appropriate capital:
It is important for the investor to determine the appropriate capital for the implementation of the project, and this step is represented in the financial study, which will determine the extent of the investor’s actual ability in terms of obtaining a suitable place
Whether it is ownership or rent, and identifying the costs of clothes that must be supplied to the store and the costs of finishing the store and others.
Suitable market study:
Through it, he can identify the volume of demand and supply in the target market, and thus he can determine whether the market is suitable for him or he should search for a better market.
It also identifies the target customers in detail and knows their needs and works to provide them in order to ensure the sale of products easily and quickly.
The owner of the clothing project can also, through the study of the market, identify the competitors, their products and their prices, and thus he will have sufficient information about them to be able to compete and outperform them, in addition to knowing the opportunities that can be exploited to achieve the greatest possible superiority in his field of work.
After we got to know together in the previous paragraph the most important elements of the success of the feasibility study, let us complete the other most important elements that must be taken and implemented to establish a clothing store, and these elements include the following:
Study the factors that may affect the level of purchase, including:
Learn about the seasons and times of purchase in which the demand for buying clothes is increasing.
Identifying the type of consumers, in addition to identifying the types that consumers prefer when purchasing.
Paying good attention to the decorations of the clothing store: in terms of colors and appropriate design that attracts the attention and attention of consumers to it, taking care of the following things:
Choosing a distinctive glass facade for the store.
Placing a sign with a distinctive name for the store and choosing good lighting is an essential element in drawing the attention of customers.
Ensure the appointment of a suitable worker or specialist in sales who has sufficient knowledge to deal with the public.