5 Common Mistakes to Avoid When Buying Wholesale Clothing
Do you want to start a fashion retail store? Would you like to know about five common mistakes to avoid when buying wholesale clothing? Read on to learn more.
Are you looking to open your own boutique store? Is finding a wholesale supplier for your apparel business giving you gray hair?
Inevitably, you are going to have to take the plunge with buying wholesale clothing to stock your store. You need to make sure you're doing it right, or you could end up wasting valuable time and energy.
In this wholesale clothing buying guide, we'll highlight the 5 most common mistakes made by new retail store owners, and what you can do to avoid them.
1. Is It a Wholesale Clothing Shop? Is It a Retailer?
When you're shopping for wholesale clothing, it's important to make sure that you're dealing with a reputable company.
A wholesaler is any business that buys goods in bulk and then sells them in smaller lots to retailers at a discount. These would fall into the business-to-business (B2B) sector.
A retailer is exactly that: a business that buys goods at wholesale prices and resells them to the end consumer at retail prices. This is called a business-to-consumer (B2C) enterprise.
A good place to start is by asking yourself whether the company sells individual items directly to the public. If the answer is no, you can move on to the next question.
Next, find out if your particular target demographic has access to this wholesaler's products at wholesale prices. If the answer is no, then you may have found yourself a legitimate wholesale clothing supply company!
2. Ignoring the Fine Print Is a Big Mistake
It is there to protect both parties, so it's important that you take care to read the fine print properly. It is not enough that these details are on the order. It is necessary to include specific conditions of your order in a formal agreement.
Let's imagine that you ordered 200 "Happy New Year 2023" t-shirts for delivery on the 21st of December 2023. The delivery date and quantities are not stipulated in the Terms and Conditions of the agreement. Your supplier delivers 100 t-shirts on the 2nd of January 2023.
This delay means you have missed the opportunity to sell the stock before the event. You're now sitting with 200 t-shirts that you paid for and you're stressed. Who wants a T-shirt that says "Happy New Year 2023" a week after the party?
What recourse do you have? What is the wholesale clothing supplier obliged to do? In this case, they are free of any loss or damage because these vital details were not stipulated in the fine print.
If there is one mistake we recommend avoiding at all costs, it's this one!
3. Make Sure of Sizes and Textiles
Sizes are not always consistent across brands. The sizing of clothing can vary widely from brand to brand or country to country. There may even be a difference in the sizes between seasons for the same brand.
Manufacturers do not all use standardized sizing charts, which normally means that a size 8 in XYZ company's clothing may actually be a size 10 or 12 at ABC company.
Use the size charts on the wholesale clothing shops' websites to make sure that you're buying the sizes your customers are looking for.
Another vital thing to consider when learning how to buy wholesale clothing is the material the garment is made from. It's no use purchasing 50 t-shirts with a 35% polyester blend when your company ethos is that your garments are made from fair trade, organic 100% cotton.
4. Cheapest Isn't Always Best
When you're looking for the best wholesale clothing deals, it's easy to get caught up in the excitement of finding a great price. But just because something is cheap doesn't necessarily mean it's good.
It's important to keep in mind that the price of an item isn't the only factor that determines its quality. Other factors include:
Consider buying a slightly more expensive, more ethically manufactured product. The fabric will be of better quality and the design and fit will be more tailored and flattering.
Investing a little more to receive better products will help give your brand a reputation synonymous with quality and reliability and your customers won't mind paying a few extra dollars for that.
5. Don't Overstock When Buying Wholesale Clothing
Don't buy more than you can sell. If you do, your capital could be tied up in stock you can't turn back into cash. Your profits will be gobbled up by the storage costs if you are not able to move the extra inventory.
Avoid buying more than you can afford right now. Look at the capital available to the business and make sure you have a detailed budget drawn up. Do your research into what is selling well in your market and build a hand-curated range of apparel items for your venture.
Getting any of these factors wrong could result in a lack of cash flowing through your business to keep it afloat. Get it right though, and you will have a business that is scalable and sustainable with a consistent and healthy cash flow.
You may even opt for setting up a dropshipping business. Retail dropshipping is a fulfillment method that allows retailers to sell items without ever holding inventory. Instead, the retailer pays for the item and has it shipped directly from the supplier or manufacturer to their customer.
Remember to expand slowly so that your business has time to establish itself and make a name for itself in the retail clothing sector.
Another valuable point here is that consumers like variety. Instead of buying 100 of one style of item, buy fewer items of each style or color, but offer a wider range.
Giving your customers more choice will allow them to feel in control of their buying options. It will also keep them coming back because they have more choices in your store.
All Stitched Up!
We understand how frustrating it is trying to find reputable suppliers whose business ethos matches yours. With so many different aspects to consider, you have a lot to think about.
We hope that our list of the five most common mistakes to avoid when buying wholesale clothing has helped you. If you keep these tips in mind, you should be able to make more informed choices and save yourself many headaches in the future.
If you'd like to find out more about sourcing and ordering wholesale clothing, contact us now!