The Legal Process of Starting a Clothing Company in Singapore
- Incorporate your company
- Register and get the approval of your company with the ACRA (Accounting and Corporate Regulatory Authority).
- Register your company with appropriate taxation authorities.
- Acquire appropriate licenses and permits where applicable.
- Register your trademark. This gives your business full authority/ownership to your concepts and brand designs.
Marketing strategies for a clothing company:
Communicating with your target audience
You should ensure that the information you pass to your audiences is reaching them. That way, your effort to expand will be noticed.
- Offline: create signs at the point of sale to ensure customers get offers.
- Online: have an online presence. However, first, ensure that you are knowledgeable of the public.
Have a window display
This is an old practice but most certainly still very useful. Ensure you change the display of your clothes regularly. And strange as it may sound, have a window display calendar that marks essential occasions so that you don’t end up displaying in a way that prospective customers miss the special events.
Attend trade shows
Trade shows make you and your brand noticeable. It is also an excellent place to find supplies and hence reduce your logistics cost.
Conduct offline Events
Be more proactive at the beginning and ending of weather seasons, tax seasons, business anniversaries and while liquidating leftover clothing from passing seasons.
Package and repackage well at your point of sale
In as much as you do window display, do equally well at the point of sale to ensure customers get the feeling of “there’s more inside”. While wrapping the cloths, throw in your business card and some candies.
Challenges of Starting a Clothing Company in Singapore
- It is not easy to find a retail partner. International brands are given priority over untested local brands.
- Not all Singaporeans have pride in acquiring local brands; some prefer international designers.
What are the important factors to win in a competition?
- Watch out for upcoming trends and own it. When you start a clothing company in Singapore, you should know about fashion and fashion changes.
- Take advantage of the sensitivity of consumers. Consumers are very sensitive to the materials retailers use to make clothes. People prefer environment-friendly materials, and that promote recycling. So, watch out for such materials.
- Meet your customers at a personal level. Customers may come to you with tailor-made suggestions, don’t ignore but rather evaluate such with a critical eye what works for your clothing company.
Who are the clothing company’s competitors?
Before starting a clothing company in Singapore, you should know that the competitors of a clothing company may be fellow manufacturers or second-hand cloth importers. It is always good to be a step ahead by finding the weak point in your competitors. Once you find it, you keep nailing it until it breaks. In the clothing company, you do so by providing the best at affordable rates and at an accessible location.
Another competitor akin to second-hand clothing companies is the buy and resell stores. They act as cloth rental shops. It tends to satisfy the craving of fashionistas in that they can acquire and discard after just a short period. These stores offer reduced costs. Positively, they can serve to benefit clothing business entrepreneurs as it can serve as a location to watch upcoming trends.
The future of clothing company in Singapore
The future of clothing company looks good as more Singaporeans are moving from being slack dressers to being fashionistas.
Globalization has also opened up new opportunities, and social media is proving to be a reliable advertising arena.
Online retailers are also making the future of upcoming clothing designers bright by taking care of their advertising hence giving the designers ample time to focus on designing.
Business is a highly dynamic industry, and sometimes failures might knock. You cannot easily predict what works if you are not willing and ready to take the leap of faith. Those who win are those who fail but dust themselves and keep moving using the experiences, the bruises as a springboard. Talent alone does not make you prosper; you need determination and hard work in the clothing company.