Small business idea-Fashion designing-How an Illiterate is heading towards becoming Crorepathi in 5 Years
Recently, I met one of my old friend, Rahul in one of the get-to-gether. He is illiterate, struggled for earning money for 10-12 years, but now he is earning an income of 3 times more compared to a person working for an IT / MNC company on an average. He is either doing any magic or doing any impossible thing. He is working as small “Fashion Designer”. I repeat he is doing only basic fashion designer work and I felt this is one of the top investment option one should consider.
Overview about Fashion Designing
Fashion designing is the identified as one of the best option for making money. If we have passion to work, the sky is unlimited in this profession. I felt it is one of the best suited money making idea irrespective of the qualification. Fashion designing is art of application of design to clothing. In this post we will discuss about only basic fashion designing.
I am enclosing the discussion I had with him
Rahul is an illiterate and was struggling earning Rs.10K per month for over a years. Thought he is keen on earning money, he was not keen on finding the ways to earning money. Now when I met him recently he was sharing his experiences on he got into this basic fashion.
In his own words.
How my friends laughed at me
I was doing small businesses for 10-12 years. I started fashion designing business 3 years back. When I planned to move from existing business to new business, many friends laughed at me. I know I failed in earlier business, but that does not mean that I will fail in my new business too.
How I started my new business
I already know how to stitch the clothes. However learning the ladies tailor work was altogether a different dimension. Slowly I started learning this at my existing business place. I have invested very little amount while I was learning.
What I learnt
Since I already know the basics of stitching, it was bit easy for me to learn. I decided that my main focus on what is “hot” in the market. I also understood that women generally look for better fitting of their clothes. I’ve worked towards that. Once I learnt, I though it is the right time for me to set-up the business.
Identifying the location was a challenge
Identifying the location was a big challenge for me. I tried searching all the places without any objective. But I felt I was wasting time in searching all places and forgetting what I need to search. I realized that my moto was to see how I can make my business successful. I finally noted that there were only two key things in identifying the location. First was “lease advance+rent” and second was “near-to-customer”. When I fixed my budget the options for my first key thing was narrowed. I had better choices than what I was thinking earlier. Now I identified the areas to meet my second key thing. I could able to identify the place where it was nearer to the main roads, residential areas and near to the colleges. It was in the centre of the Kukatpally, Hyderabad. I could realize that my major customers come through these areas only.
When I started my business, thought the customers slowly being increased, I had wide variety of problems. One of the major problems was having the skilled labour. The labour vanishes suddenly without any intimation (I surprised that attrition exists everywhere). I felt, taking care of labour was a big challenge. I overcome this by paying 20% extra that what market pays (salary correctionsJ) and provide better facilities (re-creation facilitiesJ).
Now I thought I should work on increasing customer base. I started providing discounts. Soon I realized that customers need quality work, rather than discounts. We started improving the quality of the stitching and having better understanding about the customer. We challenged to customers that in case of any alteration to the stitched clothes we would do it free of cost + we would refund 20% of cost we charged.
Now when I viewed myself, I am earning Rs.1.5 Lacs per month (net income after labour charges, material charges, lease rent etc.,). I am “small fasion designer”, but I am going to be a Crorepathi in next couple of years.
I could see the happiness in Rahul when he was talking about his success in this new business. Finally I said thanks to Rahul and left the place.
How many of us do such detailed analysis before we start any business? Is it not, one of the good and top investment options ? The above experiences of Rahul may be indicative positive experiences, but it is not limited. There are enormous ways on how to improve such business. If we have interest, we can do it.
Have you enjoyed this post? Please provide your valuable comment to improve future posts.
- These 5 Tax Saving Fixed Deposits Offer interest rates up to 6.75% - January 19, 2021
- Nippon India Asset Allocator FoF NFO – Review - January 18, 2021
- Home First Finance IPO – Date, Issue Price, GMP, Price Band, Review, Analysis and News - January 17, 2021