If you love sewing and tailoring, you may want to turn your passion into a business venture. By following the below steps, you can create your own sewing company.
1. Make a Business Plan
As a budding entrepreneur, you will need a business plan to guide you. Start by listing the various services you hope to offer through your shop. You should also research potential competitors in your area. Think about what you can offer customers that other local sewing companies cannot.
Next, you must consider the costs involved in running your business. If you do not want to operate the company from your home, you will need to rent a shop. Keep in mind that some regions forbid business meetings in residential neighborhoods.
You will also have to purchase equipment, including sewing machines, mirrors, irons, scissors and measuring tools. Of course, you must buy different types of material, including fleece fabric, as well. Do not forget about the regular expenses your business will incur, including advertising and utility costs.
You can then determine how many clients you will need to make money. Come up with a marketing plan that can bring in customers without costing a fortune.
2. File Necessary Paperwork
You do not want your budding business to get shut down because you failed to obtain a proper license. See if your town has certain permit requirements for entrepreneurs, and make sure that you have met those guidelines before you open your doors.
You will need to fill out registration paperwork, as well. Decide if you want your company to be a sole proprietorship, a limited liability company or a corporation. You may want to contact an attorney who can help you with this process.
Whatever business structure you choose, you will need to register your company with tax authorities. You will then get a unique employer identification number for tax reporting purposes.
3. Open Business Credit Cards and Bank Accounts
It may be tempting to just use your personal bank accounts and credit cards for your business. However, this could put those personal assets at risk if your company is ever sued. To be safe, you should open separate credit and banking accounts solely for your business. Having a company bank account should make the tax filing process easier. Meanwhile, a business credit card can help your company improve its credit history. This could be useful if you ever need to raise money from outside investors in the future.
4. Apply for Business Insurance
Business insurance also protects your company in the event of a lawsuit. General liability insurance is a good place to start. If you decide to hire employees, you may have to purchase workers’ compensation insurance, as well.
5. Create a Portfolio
Most customers will want to see samples of your work before they hire you. Create some pieces that show off your unique style. You can then put those items in your office so customers can examine them up close.
You should also take photos of the finished products and place them in an online portfolio or on your website. The portfolio should include different types and styles of sewing work that will appeal to clients with a variety of tastes and budgets.
6. Find Clients
Finally, you need to let the public know that your company is open for business. Ask your friends and acquaintances if they know anyone who needs sewing services. You can also print flyers and post them in popular shops around town.
Try contacting local television and print publications, as well. They may be willing to do stories about your business, which would give you free advertising. Social media services and online business directories are great resources for customer outreach, as well.
If you already enjoy sewing pieces for friends or family members, then you may want to start a sewing company. By following the above tips, you can turn your hobby into a viable business.