Start your Own Yoga Clothing Brand

According to a report by Global Industry Analysts, US sports apparel market such as that of yoga clothing has constantly boomed in past few years. The industry is expected to upsurge to 231.7 billion dollars by 2024. The evolution of the sector is mainly due to the increased popularity of sports clubs and people’s participation in fitness activities because the population is health conscious now more than ever before. Moreover, athletic wear is fast merging in the mainstream fashion. For instance, if you stroll down your street, you will see people clad in clothes like they are headed towards a gym or yoga class. From yoga pants to running gear, fitness clothes are becoming popular in the US more than any other part of the world. The changing trend is simultaneously creating opportunities for the entrepreneurs to get into the venture of yoga clothing brand. This article provides you with valuable guidelines to start the brand successfully and smoothly.

1. Market research

Entrepreneurs venturing in sports and fitness apparel can build lucrative brands and companies. But, since there is lot of competition in sports apparel marketing, you will have to grasp all the information about competitors and other dynamics to have an edge over others while you are entering the market. Just like other businesses, understanding the yoga wear market and knowing customers’ demands is key for successful start-up.

2. A well-defined niche

In the immensely competitive business world of fitness clothing, finding a niche is your best chance to gain competitive edge in the market. Although you have already decided that you will be selling yoga wear, there are lots of styles and quality you can target that can give you a separate identity and place in the market of yoga clothing. With the information you have gathered through market research, put various ideas to design and work on the yoga clothing in terms of fabrics, styles and fit. For instance, you can add a separate product line of plus size yoga clothing to cater the market segment of curvier and bulkier gym goers. It will give you an edge over all other brands who normally sells regular and slim fits.

3. Prepare a business plan

A well-defined business plan can be your road map for the start up. It helps you define a business model and your goals. With a business plan, everything you aim for your business comes on the paper that gives you a realistic approach to reach your goals. Moreover, a good business plan supports you to acquire required business funds from banks and investors. There are writing experts who can support you in preparing a comprehensive plan. However, if you don’t have the extensive budget to hire a professional, you can always use a good template and guide from internet to make it on your own.

4. Source funding

Unless you have a good amount of funds stashed away for your business capital, you will need financial assistance for the investment. The good thing is that starting a yoga clothing brand does not require lot of money and resources. There are lots of sources to acquire small sum of money for your business.  For instance, you can apply for a no doc line of credit to get your brad in the market. A no doc business line of credit that you borrow and pay back in instalments. This type of loan is unsecured, therefore easy to get because you don’t need to give any collateral. Such source of funding is the best option for a small scale start up. The amount you are eligible for depends on your credit activity, it usually ranges from thousands to one million plus.

5. Obtain a license

Obtaining a license according to your region’s law is a straightforward process. Since you will be employing people according to the size of your start up. Obtain EIN (Employer Identification Number) by visiting the website of Internal Revenue Service. Get a sales tax registration according to your area requirement and apply for a relevant license. You can get detailed information for all the licenses required for fitness clothing brand, or conduct a thorough research on internet. Ensure that no stone is left unturned so you can start and scale up your business without any legal glitch.

6. Set up your shop

Once you are covered legally and your niche is defined, you are ready to set up a shop for the brand of your yoga wear. You can avail both the options of physical or virtual stores according to your budget and preferences. Every business needs a name. Think carefully before settling a brand name because it will help you create your logo and eventually a brand image and awareness in the market.  Market your brand and shop to spread the buzz about your brand name.

7. Find the right manufacturers

You will need a stable relationship with a manufacturer so you are never out of inventory for your product line. Work on establishing a transparent and interactive supply chain of manufacturer and distributors regardless of your company size. Hold meetings with suppliers to keep a constant update for volume discounts, delivery timelines and supply quality. Before starting with a distributor or manufacturer, conduct a research to know about the reputation and customer services provided by the suppliers. This will help you assessing reliability of the manufacturer.

Bottom line

Starting a yoga clothing line like any other business is not easy. You will have to face various challenges even before starting the operations. Most importantly, the funding and resources to get your brand off the ground. A business plan can give you a guideline and pathway to implement financial strategies and reach the goals. Find good marketing team for your brand, so the customers are aware of your brand and unique selling points that make you stand out in the market. Find investor who is willing to share resources which will make it easier for you to overcome the challenges, sustain, and scale your business.