How to Start Dancewear Distributor Business in 2021?
According to Market Watch, the global dancewear market value was calculated at $490.4 million in 2020. This value is expected to grow at a CAGR of 4.45 by reaching $665.1 million by the end of 2026. These statistics are enough to convince someone to enter this industry. If you do not want to start a manufacturing company or run a store for dancewear, then there is a third option. You can become a wholesale dancewear distributor. Here, you will know how you can start a dancewear distribution business in easy steps. But before we move to the steps, let’s understand the role of a distributor below:
Who is a Distributor?
Distribution is all about the movement of products. A distributor serves to move the products from the manufacturer to the market. Retail distributors sell directly to the end customer, while wholesale distributors purchase products to stock in their warehouses from the manufacturer. The wholesale distributors then move the products from their warehouse to the retailers. Starting a wholesale dancewear distribution business involves the following steps:
1. Market Research
Market Research is the first and foremost step in the establishment of any business. The more you know about the dancewear market, the better you can start your business. Market research goes beyond the knowledge of prices and market trends. You should also know about your competitors. There are many ways to know about the top dancewear distribution companies in the market, such as Google Alerts, Business publications, and social media networks.
2. Business Strategy
Putting together a business strategy will lay out the complete vision of your wholesale dancewear distribution business. By creating a business plan, you will be able to follow a direction to achieve success in your distribution business. A great business strategy should include all the major decisions about your company. It should answer the questions like:
- What is the startup cost for your distribution business?
- How much you can invest (Your budget)?
- What legal permits and licenses would you need?
- What are your target customers?
- Where will you purchase your wholesale dancewear stock?
- How you will sell your products?
- What will be the location of your warehouse?
- Which marketing strategies would you choose?
- What will be your contingency plan?
3. Find Dancewear Manufacturers/ Sources
Finding high-quality wholesale dancewear is not that easy. There are numerous dancewear manufacturing companies in the US. It is recommended that you make a list of top manufacturers of dancewear and select the most reliable company with authentic dancewear items. Besides manufacturers, you can also purchase your stock from wholesale marketplaces. To get you started, check the following lists of most reliable marketplaces:
- Big Buy
- World Trade Support
4. Find Your Customers
Your target audience will decide your medium for selling your products. The first thing you must keep in mind is the age factor, either your major audience wants adult dancewear, kid dancewear, or another age group. You should also know if your customers buy dancewear through online platforms or if they prefer local markets. If the majority of your customers purchase via online marketplaces, then you can use a number of marketing channels to reach your buyers, such as:
- Content Marketing
- Search Engine Optimization
- Guerilla Marketing
- Paid Marketing
- Social Media Marketing
- Word of Mouth
5. Promote Your Business
Finally, once your products are stocked, you can start promoting your dancewear distribution business. We suggest that you carefully select the effective and latest marketing strategies to draw more customers. The following tips will help you sell your products fast:
- Keep the pricing reasonable.
- Introduce free shipping on large orders.
- Use attractive dancewear pictures with great pixels.
- Provide detailed information about each dancewear.
- List your products on major online wholesale marketplaces.
- Provide fast delivery services.
- Offer various deals and discounts.
- Provide after checkout services to the customers.
Starting a distribution business is not that difficult. However, it is important that you follow all the essential steps to avoid risks and failure. We hope that the information mentioned above will help start a wholesale dancewear distribution business successfully. Do let us know if you find these guidelines useful.