Starting up a business with your high quality fabrics, entails a lot of planning to be able to be established for the market. This involves the discernment on whether your fabric business will go retail and wholesale. Both of these business structures contain advantages and disadvantages.
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Wholesale
This is known as the bulk buying process in the business. Wholesale is a supplier who may be the manufactures of the high quality fabrics that will be sold to retail or outlet fabric shops for reselling. The price in wholesale is cheaper than the price retails hold because the products will be purchased in bulk.
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Brand Awareness
Being a wholesaler of high quality fabrics cultivates brand awareness because supplying products from different outlets or retailers will allow you to have your fabrics widely available to the market. The consumers or the market will be able to recognize your fabric from the rest because of its presence in several shops.
Drop-Shipping
Drop-Shipping is a process where the favor is on the wholesale supplier because you gain retail sales. This is because a wholesale fabric supplier retains the ownership of the inventory than the retailer.
Global Expansion
One flex of a wholesaler allows faster and easier expansion into global markets. If your retailers sell your high quality fabrics globally, then the chances are your fabric will be able to expand globally, too.
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Brand Identity
One of the challenges of a wholesaler is that retaining the brand identity of your high quality fabrics will not be in your control. The trust you place in your retailer suggests that they will be able to maintain or retain the brand identity of your high quality fabrics.
Marketing
It does not mean that being a wholesaler allows you to be laid back from the responsibility of marketing your high quality fabrics with your retailer or outlet shops.
Storage
The quantity of your high quality fabrics comes in bulk. It is important for a wholesaler to provide more than adequate space for these fabrics with effective and efficient processes inside.
Retail
The first-hand experience with the customer and having control of your is happening in a retail fabric store.
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The Boss
Being a retail owner, is setting your standards especially with your high quality fabrics with retail fabric business. Being the boss of the business allows you to set the rules, reap the profits, and the hiring of employees. Being a confident leader can be one of the best attributes that can benefit from being your own boss.
Own Vision
Through having control of your own business, you can be able to establish the environment of your working area, the standards of your high quality fabrics, and the services.
Help People
Being in the actual field of the business allows you to mingle and help people in a tangible way.
Contribute
By building your retail shop or business, you will be able to open up job opportunities which in turn helps you contribute in your community
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The Boss
Being your boss has its struggles. The responsibility that lies within your power can be overwhelming most times.
Financial Risk
Having the business on your own is prone to having financial difficulties. Even by closing the business, if an unfortunate event may occur, the bills that will be coming to you will not end. Hence, it takes a lot of guts to pursue a retail business.
Time-consuming
Retail businesses require long hours to fully grasp the profits that you will earn in the business.
Human Struggles
The difficulty in dealing with other people can become a struggle, too. This involves the employees that may be a handful to manage, and the customers that you will encounter in the process.
Pick your business structure
It is best to understand and know the pros and cons between retail and wholesale fabric because it will be significant in making the decision of which among the two will best suit your new business. Above all, prior assessment of the strengths and personalities of the business owner, branding identity of the business and the fabrics, and marketing strategy will be significant data that will help you identify for either wholesale and retail business transactions.
