The saree business involves the production, sale, and distribution of sarees, a traditional Indian garment for women. This business can range from small, local shops to large-scale manufacturing and online retailing. Sarees are an essential part of Indian culture and are worn on various occasions, from daily wear to weddings and festivals.
The business encompasses a variety of sarees, including silk, cotton, georgette, and chiffon, catering to diverse tastes and preferences. Entrepreneurs in the saree business often engage with artisans, weavers, and designers to offer unique and high-quality products. The saree business thrives on trends, cultural significance, and the continuous demand for new designs and styles. If you're planning to expand your venture, you can check your business loan eligibility to explore funding options tailored for your business needs.
Scope of the online saree business
The saree industry in India is witnessing steady growth, with many new sellers entering the market offering distinctive and innovative designs. Although fashion trends continue to evolve, the demand for sarees remains consistently high. Sarees are worn for a variety of occasions including functions, festivals, family gatherings, and even in professional settings. The market continues to thrive, with fresh styles and collections introduced each year.
Today, a wide range of sarees, including hand-woven and machine-made varieties, along with naturally and vegetable-dyed options, are readily available. Owing to this strong and expanding demand, starting a saree business has become a highly attractive opportunity. A home-based online saree business, in particular, involves relatively low risk as it requires minimal investment in physical infrastructure. To get a head start on financing, check your pre-approved business loan offer and access funds without lengthy documentation or delays.
Entrepreneurs can easily launch an online saree business in India without heavy spending on premises or large inventories. With just a reliable smartphone or laptop, a stable internet connection, and a strong network of distributors and manufacturers, one can successfully manage and grow an online saree venture from the comfort of their home.
How to create a saree business plan?
Creating a business plan for a saree business involves several critical steps to ensure a structured and successful venture.
Tips to start a saree business
- Market research: Understand the market demand, competition, and customer preferences.
- Unique selling proposition (USP): Identify what makes your saree collection unique and highlight it.
- Quality suppliers: Partner with reliable suppliers and weavers to ensure high-quality products.
- Product range: Offer a diverse range of sarees to cater to different tastes and occasions.
- Location: Choose a strategic location for your physical store or ensure a user-friendly online platform.
- Pricing strategy: Set competitive prices that attract customers while ensuring profitability.
- Inventory management: Keep an optimal inventory to meet demand without overstocking.
- Marketing and promotion: Use social media, online ads, and local events to promote your business.
- Customer service: Provide excellent customer service to build loyalty and repeat business.
- Legal requirements: Ensure compliance with local business regulations and obtain necessary licenses.
Marketing online saree business
- Social media marketing: Use platforms like Facebook, Instagram, and Pinterest to showcase your saree collection with high-quality images and engaging content.
- Influencer collaborations: Partner with fashion influencers to promote your sarees and reach a wider audience.
- Search engine optimisation (SEO): Optimise your website with relevant keywords to rank higher in search engine results.
- Email marketing: Send newsletters and promotional offers to your subscribers to keep them engaged.
- Online advertising: Use Google Ads and social media ads to target potential customers.
- Content marketing: Create blogs and videos about saree trends, styling tips, and cultural significance to attract and inform customers.
- Customer reviews and testimonials: Encourage satisfied customers to leave reviews and testimonials on your website and social media pages.
- Seasonal promotions: Offer discounts and special promotions during festivals and wedding seasons to boost sales.
Different modes of online saree business
- Own e-commerce website: Create a dedicated website to sell sarees, providing a personalised shopping experience.
- Marketplaces: List products on popular e-commerce platforms like Amazon, Flipkart, and Myntra to reach a wider audience.
- Social media shops: Use platforms like Facebook and Instagram to set up shops and sell directly through social media.
- Mobile apps: Develop a mobile app to offer a convenient shopping experience and engage customers.
- Wholesale platforms: Partner with B2B platforms like IndiaMART and TradeIndia to sell sarees in bulk.
- Dropshipping: Partner with suppliers who handle inventory and shipping, allowing you to focus on marketing and sales.
- Subscription boxes: Offer monthly subscription boxes featuring curated saree collections.
The saree business in India offers significant potential due to cultural significance, diverse market demands, and growing e-commerce trends. By creating a comprehensive business plan, leveraging various marketing strategies, and exploring different online business modes, entrepreneurs can successfully navigate and thrive in this industry.
Advantages of saree business in India
- Cultural significance: Sarees are an integral part of Indian culture, worn on various occasions, ensuring a constant demand.
- Diverse market: The wide variety of sarees, from daily wear to designer pieces, caters to a broad audience.
- High-profit margins: Exclusive and high-quality sarees can command premium prices, leading to substantial profit margins.
- Artisan support: The saree business supports traditional artisans and weavers, preserving cultural heritage.
- Growing e-commerce: The rise of online shopping has expanded market reach, allowing businesses to tap into national and international markets.
- Fashion trends: The continuous evolution of saree designs and trends keeps the market dynamic and attractive.
- Flexibility: Entrepreneurs can start with a small investment and scale up as the business grows.
- Customisation options: Offering custom-made sarees provides an edge in the market, attracting customers seeking unique pieces.
- Festival and wedding season: High demand during festive seasons and weddings ensures consistent sales peaks.
- Government support: Various government initiatives promote and support the textile and handloom sectors, benefiting saree businesses.
Things to follow before starting saree online business
Before starting an online saree business, it is important to do some basic market research. Here are the key steps to follow:
Conduct proper market research
Before you begin, studying the market is essential. Many businesses fail because they skip this step. You should research:
- Target audience demographics
- Competitors
- Profitability statistics
- Industry trends
According to reports, sarees dominate India’s ethnic wear market, accounting for around 71% of the largest retail segment. The director of Odhni Sarees mentions that 70% of women in India wear sarees, if not daily, then at least for special occasions. This shows strong growth potential for the saree business in the coming years.
Understand customer tastes and preferences
Customer preferences vary by region. Saree types, colours, weaving styles, and craftsmanship differ based on cultural origins. Before selling, identify your target customers and study their preferences carefully. You can create online polls or surveys considering factors like age group, taste, and spending capacity. This will help you better align your products with customer expectations.
Build your network
Just because sarees are always in demand does not guarantee immediate profits. First, build strong connections with weavers, artisans, and fabric wholesalers. Attending workshops and events can help you understand sourcing and pricing better. Always supply products based on current demand to manage inventory efficiently.
Stay active on social media
Having a strong presence on social media platforms like Facebook, Instagram, and WhatsApp is crucial for online business success. Engaging with your audience regularly can build trust and help you grow your customer base.
Find reliable manufacturers and distributors
Selling poor quality sarees can harm your business reputation. Customers trust you when buying online, so it is important to meet their expectations. Work with trusted manufacturers and distributors to ensure smooth operations and timely deliveries.
Some popular wholesale saree manufacturers in India include:
- Yamuna Saree Centre, Gujarat
- Indian Suit Factor, Punjab
- Das Enterprise, West Bengal
- Variation Design, Maharashtra
Popular wholesale saree dealers:
- Super Wholesale Bazaar
- Wholesale Mantra
- Krish Fashion
- Kuberan Silks
- Cotton Duniya
- Textile Export
- NSK Wholesale Saree Centre
Conclusion
In conclusion, a well-crafted business plan is essential for the success and sustainability of your saree business. It serves as a roadmap, guiding you through market research, product selection, pricing, and marketing strategies. Securing a loan can provide the financial support needed to start or expand their saree business, a business loan can provide the necessary funds to achieve their goals. Bajaj Finserv Business Loan offers the financial assistance required to fuel your business growth.
Here are a few reasons why you should opt for a business loan from Bajaj Finserv:
- Tailored solutions: We understand that every fish farming business is unique. That's why our loans are customized to suit your specific needs, whether it's for expansion, working capital, or technology upgrades.
- Long repayment tenure: We offer flexible repayment options, so you can focus on growing your business without worrying about stringent payment schedules.
- Quick approval: Time is money, and we value both. With our simplified business loan application process and swift approval, you can access funds when you need them most.
- Competitive interest rates: Our competitive business loan interest rates ensure that you get the best deal possible, allowing you to maximize profits and minimize costs.
Don't let financial constraints hold your business back. Apply for a Bajaj Finserv Business Loan today and turn your vision into reality.
