There is never a better time learning about how to start a hoodie business. Hoodies have always been popular fashion apparel. Some people are so obsessed with the craze that they prefer to amass a collection of it. This craze and love for hoodies create a one-of-a-kind business opportunity to create exclusive designs and entire segments of hoodie lines. Furthermore, many entrepreneurs feel confident in starting their own hoodie business or introducing a brand new collection of hoodies into their existing clothing business because of the craze for hoodies. This step-by-step guide will assist you in learning more about starting a hoodie business and determining whether it is the right fit for you as an entrepreneur.
1. Familarize yourself with the Hoodie Industry
To start a thriving hoodie business online, you must first learn everything there is to know about the hoodie Industry. This will not only make it easy to establish a hoodie business, but it will also aid in its growth. The nicest aspect about beginning an online hoodie business is how affordable it is to get started. Keep in mind that the hoodie market is rapidly evolving, so you should keep up with current trends.
How much does it cost to start a hoodie business online?
Starting a hoodie business from home for $1000 to $1200 is a good starting point. A $500 boost could help you get off to a terrific start. However, depending on the amount of your inventory and marketing methods, purchasing in bulk from wholesalers to run your sunglasses business on a larger scale might cost you anywhere from $3000 to $4000.
Keep in mind that the $1000 to $1200 cost of starting a hoodie business includes inventory ($600-$800) and marketing ($400). If you really want to save money, you can decrease inventory costs and go with a dropshipping business strategy. The hoodie business is one of the best businesses to start and grow if you don’t mind putting in some effort.
Is hoodie business profitable?
If you know how to promote your hoodies effectively, the hoodie industry can be quite profitable. High-quality and customized hoodies can retail for as much as $35-$45, with a cost per piece of roughly $10-$15 if purchased from a wholesaler. This equates to a profit of about $25-$30 for every hoodie sold. Even if only 100 hoodies are sold, you will make a profit of roughly $3000.
Is hoodie business worth it?
It is undeniably worthwhile to start a hoodie business. The hoodie business is worth a shot because it involves little to no capital and no prior business experience. Furthermore, there is high profitability aspect and the hoodie business model is highly scalable too. Starting a hoodie business has a lot of potentials and is easy to run and develop. Because of the low entry barrier, it’s a fantastic business for youngsters to start.
2. Plan your Hoodie Business
The ability to plan ahead of time is essential for the success of any business venture. The same is true when it comes to starting a hoodie business. Let’s go over some of the steps you’ll need to take as you get ready to start your hoodie business.
Choose a name for your hoodie business
Whether you want to start a hoodie business or a hat business, you must choose a name that symbolizes your company’s ideas and beliefs.
Remember to observe the state naming regulations in the states where you want to run your hoodie business; otherwise, the state may refuse to accept the documents you filed to start or qualify your hoodie business. While you may not need to register your hoodie business at first, adhering to your state’s name standards will help you avoid issues in the future if your hoodie business takes off and you want to scale it up rapidly by registering and trademarking it.
Shopify’s Business Name Generator is a free online tool that helps to brainstorm brandable names for your hoodie business.
After you decide the name of your hoodie business, the next step is to perform these final checks.
- First, check your State’s business name database to see if your desired name for hoodie business is available.
- Second, do a domain name search to check if the name of your hoodie business is available as yourbusinessname.com. If it is available go ahead and register the domain before anyone else gets it. Namecheap offers domain names for as cheap as $0.88. You can use the tool below to see if the domain name is available.
Find a domain starting at $0.88
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- And lastly, do a federal search on the US Trademark Electronic Search System and make sure nobody has already trademarked the name of your hoodie business.
Choose a business model
To start a successful hoodie business, you’ll need a good business model at the very least. Don’t get into the hoodie business just because it sounds glamorous and offers a lot of money.
Consider this: what will your hoodies’ USP (Unique Selling Proposition) be? What are some of the unique methods you’ll use to entice people to buy your hoodies? What strategy do you have in place to retain your existing customers?
There are hundreds of hoodies businesses on the internet, with hundreds more appearing every month. Unfortunately, approximately 95 out of every 100 new hoodie businesses fail miserably. I’m not trying to scare you; I’m simply reporting the facts. As a result, if you don’t want your hoodie business to fail, make sure you have a solid business strategy.
Also, keep in mind that you should plan on working on your new hoodie business for at least 60-100 hours per week, especially at first when you’ll be learning a lot of new things and working on your own.
Draft a business plan
If you want to start a successful hoodie business, you will need a compelling business plan at a minimum. A well-written business plan should explain the company’s core objectives and how it plans to achieve them. One of the other purposes of a business plan is that it makes your hoodie business look professional and appealing to prospective lenders and investors.
Without it, you’d be running around like a headless chicken. Without it, you’d be running around like a headless chicken. A persuasive business plan for a hoodie business might include a variety of components, but the following are a few that must be included:
- Executive Summary
- Business Description
- Market Analysis
- Competitor Analysis
- Services to Offer
- Competitive Pricing Strategy
- Marketing Strategy
- Financial Projections
You can use business plan software like BizPlan and Enloop to compose a professional-looking business plan. However, don’t get lazy and pay someone 10 bucks to write a business plan for your hoodie business. You will need professional high-quality work and it should come from within you.
3. Sourcing the Hoodies for your Business
You must first discover your suppliers before launching a hoodie business. The issue with these vendors, however, is that they will impose MOQs (Minimum Order Quantity). If you’re starting off on a tight budget, you might not want to invest in inventory at all. In that instance, a dropshipping business model is a viable option. You can get all of your products from AliExpress if you think dropshipping is the way to go.
Domestic hoodies manufacturers and suppliers
Some of the domestic hoodies manufacturers and suppliers are listed below:
- Shirtspace (USA)
- Blank Apparel (USA)
- The Adair Group (USA)
- Firelabel (UK)
- Ranksent (UK)
- Dori Apparel (Australia)
Global hoodies manufacturers and suppliers
Some of the global hoodies manufacturers and suppliers are listed below:
Customizing the hoodies
Keep in mind, they will do a custom logo on your hoodies when buying in bulk from platforms like Alibaba, if you meet a certain MOQ. A few years back I bought 500 pieces of hoodies for my business and my supplier did a custom logo of my company on all of them. If you can buy 5000 hoodies, the suppliers will do both the custom logo and custom packaging for you. However, if you want to buy just 50 hoodies through them, that is not possible. You will need to customize it yourself with either branded packaging or logo printing on your hoodies. Fortunately, there are companies who let you buy even just a single hoodie and customize it with your logo.
4. Setting up an Online Store with Shopify
The next step is to publicize the name of your hoodie business on the internet for all to see. Websites are an essential component of the hoodie industry. To sell hoodies online, you MUST have a good online store.
Make the most of the internet’s capabilities. You must personalize your website and ensure that it is consistent with your hoodie brand. You can include photographs of your hoodie lineups as well as customer testimonials to make a strong first impression on your visitors. Also, don’t forget to include your mission statement on your website and explain why your customers should buy your hoodies.
Creating an online store has never been easier. The days of paying web developers thousands of dollars for a simple online store are long gone. With Shopify, you can now launch a fresh new online store for your hoodie business for as little as $29. The icing on the cake is that Shopify offers a 14-day free trial (no credit card required). This is plenty of time to create an online store, add your products, and set up payment methods for your hoodie business. Once your online store is ready, you can easily connect it to your domain bought from Namecheap. All you need to do is go to the Domains section in Shopify’s Dashboard and follow the basic instructions.
We can assist you if you want someone else to handle the technical aspects of your hoodie business while you focus on getting more customers. A professionally designed online store, custom email, 24/7 support and maintenance, SEO, and digital marketing services are all included in our $199 digital package. You don’t want to lose out on this opportunity. Please contact us as soon as possible before the offer expires.
5. Promoting the Hoodie Business
It may appear that promoting your hoodie business is straightforward, but believe me when I say that it is not. In the internet realm, you’ll be up against thousands of other hoodie companies. You will not succeed unless you have a cutting-edge marketing strategy. I’m not attempting to scare you; instead, I’m simply stating facts.
When the hoodies are designed, give the samples to your friends and family as a trial. Don’t give your goods away for free; instead, charge customers the cost of production. Don’t be concerned about the profit right now; trust me, it will come. While you’re getting started, all you have to do is make sure you don’t lose money. Request feedback on your product from your friends and family after they receive their hoodies, and develop a list of what they liked and hated. If they enjoyed your hoodie, ask them to tell their friends and family about it. You can also ask them to share your social media accounts on their network.
Yes, I know that you’d need more than just your friends and family to buy your hoodie. I just focused on that aspect as I believe it lays the foundation of marketing. You need to use digital marketing to aggressively promote your hoodies across the country or around the world. Get in touch with us if you need any assistance running digital ads for your hoodie business. We can offer you free marketing advice and materials to help you market your hoodie business.
And lastly, join your local chamber of commerce and small business groups to learn about the marketing strategies that other businesses use to sell their products online.