How to Sell Wholesale Women's Suits
Selling wholesale women's suits can be a lucrative small business venture. A women's suit wholesaler adheres to specific fabric choices such as gabardines and worsted wools as well as suit versatility and trend. With buying savvy, strong retail relationships and a keen eye to spot suit silhouette trends, the aspiring wholesaler can look forward to a successful business.
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Things You'll Need
- Business entity applications
- Women's suits
- Color forecasting reports
- Fabric forecasting reports
- Trend forecasting reports
Instructions
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Establish your business entity. You will not be able to operate your wholesale business, regardless of what type of merchandise you are selling, without a business structure established. Meet with your financial adviser, attorney and accountant to discuss your options. For example, incorporation offers personal asset protection for its directors, tax flexibility and an easier attracting outside investment. A limited liability company (LLC) also offers personal asset protection, but has fewer corporate formalities, such as formal meetings. A limited partnership (LP) is beneficial to partners, such as a silent investment partner, that want to share in the company profits but not share equally in the daily operations.
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Select your business location and decide where you will be storing your inventory and how much space you require. For example, large quantities can be stored in an outside warehouse facility. Know the type of special care required for suit fabric. For example, if your wholesale haute couture suits are constructed with novelty fabrics and trim, the warehouse temperature or humidity can affect your fabric and cause discoloration. Ask your suit manufacturer for specific fabric care and storage suggestions.
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Research your competition and know your target market, as they influence your silhouette (shape and cut of a style) and fabric choices, buying strategy and brands carried. Your target market dictates the type of suit sets you purchase, such as pantsuits, skirt suits or a three-piece suit combination, which generally includes a coordinating vest or waistcoat. Your customer base will also influence your pricing structure and price range.
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Research suit fabric type, weight, pattern and maintenance. For example, certain silk suitings offer easy care and are washable as opposed to dry clean only. Certain wool blend weights offer year-round versatility and are wrinkle resistant. Pure linen or cashmere silk blends are mainly dry clean only but can offer the customer the versatility to use the pieces individually with other ensembles. Fabric choice and patterns correlate with your customer base.
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Narrow your selection of suit designers and brands you want to carry. Call their showrooms directly and ask about wholesale qualifications. Ask whether you must purchase a specific quantity and if you will be able to mix colors and sizes within your purchase order. You will also need to know how your suits will be shipped, such as with protective covers and labels.
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Write your budget, marketing and sales plans. Your budget needs to include marketing, company expenses and available buying funds. It is best to have a specific marketing plan, such as an online marketing campaign, sending out press releases or printing postcards. Offer customers low minimums, and adhere to delivery schedules to ensure repeat orders and develop customer relationships.
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Research forecasting services for color, fabric and silhouette trend. These services offer extensive market research for color, fabric and silhouette changes, and they forecast the direction within the fashion industry.
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Budget for shopping trips to top fashion cities such as Paris, Milan, London, New York, Los Angeles and Miami. If your budget includes shopping cities such as Paris and you are selling suits with a trendy edge, include shopping in the Les Halles district. If you are selling haute couture suits, include shopping on rue du Faubourg Saint-Honore, which is known as one of the top fashion streets.
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