The Necktie is a popular accessory for corporate workers, sales representatives, doctors etc; however, it is also used in casual wears sometimes. Necktie making business is a viable opportunity and can be easily started in small scale without investing a lot. If you have vacant space in your home and have interest in tailoring, you can initiate this venture with low startup capital. That is why; I am bringing you the complete guide to start a necktie making business along with how to operate it successfully by attracting and retaining clients.
Why Start a Necktie Making Business?
The sole idea of starting any kind of business is to make profit. Sometimes we also do it to use our passion for any field, but the expected end result is to make a profit only. That is why; any selected business idea should have a great market potentiality.
The demand for the necktie is very high in the market. Like women love jewelries and handbags, men who wear necktie are passionate about them. They usually keep a huge collection of necktie of different designs and quality.
Unlike other items in the man’s wardrobe, the necktie is considered as more perishable due to food stains, wear and tear due to the rubbing of fabric with the suit, drop of ink etc. A small spot of stain makes the tie completely unusable and thus, the demand for the new necktie arises.
Need of Less Investment:
You can start the business on a very small scale with the need for very less investment. Later on, you can gradually grow the same.
Along with these, in the necktie making business, you can also combine other items to manufacture like handkerchief, scarves and falls. The process of manufacturing necktie is similar to these. Thus, it will help to bring more business as you don’t need to invest extra in adding these items in the business. The required raw materials and equipment are same.
Required Machinery for Necktie Making Business
As mentioned earlier, you can use the same machine to make necktie, handkerchief, scarves and falls. The required machinery is simple and are available at a very low price in the market. But you need to buy a good quality machine for longer operation.
The required machinery is: –
- Automatic cutting machine
- Single needle locking sewing machine
- Electric iron press
- Table and other miscellaneous
Necktie Making Process
The process of necktie making is similar to the making of handkerchief, scarves and falls. The manufacturing process includes below- mentioned steps: –
- Step 1: – The fabric is placed on the cutting table and the layout of the design is marked in the same.
- Step 2: – After that, the fabric is cut as per the marks without any kind of distortion. You will need a perfect hand and skill for this step.
- Step 3: – The cut pieces are then sent to the tailoring department for the stitching.
- Step 4: -After completion of stitching, the fabric is sent for ironing. It is a critical step as with the ironing, the necktie gets the proper and final shape.
- Step 5: – The finished product is properly checked for any kind of dispute and then sent for final packaging.
Required Raw Material in Necktie Making Business
The fabric is the basic required raw material in this business. That is why; you need to select only the best material for the process. You can use different quality and type of fabric to bring variety. Other required raw materials are threads of different color, stickers of brand etc.
Required Skills in the Necktie Making Business
There are different types of neckties available in the market. They are used for formal wear, uniform or with casual wears too. So, to have a success in the business, you need to be creative in fashion designing to bring some new designs of fabric.
However, the usual neckties also have got huge demand and for that, you need to have specialized skills in tailoring. Even if you don’t have the skills, you will then need to hire skilled workers for that.
Importance of Necktie Business Plan
A business plan is the base of any kind of business. It is a document where you draft all the details and your planning’s about how you are going to operate the business and make it a successful one. It helps to stay focused and take necessary steps during the crisis period.
Along with these, a business plan also helps you during the financial crisis. Starting a necktie making business doesn’t require much investment. With the help of the business plan, you can get financial assistance from the banks even without the need to submit any kind of security deposits.
How to Make the Necktie Making Business Successful
Creating market for your business is the best way to have success in the business. For this, you need to produce quality products with reasonable price tags. Along with these, you need to do proper marketing and promotion of the business.
Wholesalers and retailers will be your basic customer base, however, you can also sell your product online through the different platforms like Flipkart, Amazon, eBay etc. the other important aspect of online advertisement is to develop a website containing pictures of your produced neckties along with details. To promote your business locally, you may print distribute handbills, give ads on popular newspaper, local cable channels etc.