Must Have Handbags: 5 Key Tips for Starting a Handbag Business
Strange as it is, you’ve never bought a single purse out of a store. You’ve always made your own. Lately, your family and friends have been asking you to make bags for them.
You should start charging. No, really you should. You can make serious money off of selling your talent for making must-have handbags.
Before you can start putting bags up for sale, you’ve got to build and promote your business. It’s hard to bring in a customer base if nobody knows about you. Check out this guide to find out how to get started with your own company.
1. Pick a Niche
Believe it or not, there are all kinds of different niches of handbags. The two major categories are casual and luxury.
Research stores like the french house Saint Laurent to see what types of bags are big sellers right now. Once you’ve decided on your niche then you can start drawing up your business plan around it.
2. Draw Up Your Business Plan
You won’t be successful if you don’t draw up a detailed business plan. For this, you’ll need to create a blueprint.
This blueprint will contain everything involving your business from financial decisions to marketing ones.
3. Deciding on Your Pricing
After you’ve gotten all of that squared away then you can decide on your product pricing. If you’re not sure what direction to go in then you can look to other companies again.
See what these companies are charging and build your prices around it. You’re allowed to go up or down in price depending on how much your materials cost.
4. Make Things Legal
You can’t start selling products until your business is registered and legal. You can do this by registering it as a proprietorship or you can look to LLC if you want to keep your business and personal assets separate from each other.
If you’re not sure which direction to go in you can check with your local authorities. They’ll be able to tell you what papers and licenses you need to get your business up and running.
5. Create a Website
You won’t be able to sell products if you don’t market yourself. This is where your website comes in. You’ve got a couple of options here. You could go with WordPress if you’re planning to sell your products.
If you’ve got a passion for bags and want to sell someone else’s products then Shopify is a good option. If you don’t want to go with a website builder you can always hire someone to build your site for you.
Starting a Must-Have Handbags Business
Are you wanting to start selling your very own, must-have handbags business? You’ll have to come up with a good business model and get your name out there first.
We hope that you’re able to use some of the tips you read here to get your foot in the door. Start working toward your passion.
Once you get your business going it will be a lot of work to keep it going. Check out our blog daily to get more advice like what you read here.