To be successful and navigating the surplus garment business can be both challenging and rewarding. Being a business rooted in the management and circulation of excess, rejected, or cancelled stock, the surplus garment business demands certain strategies to ensure success. In this blog post, we present seven key steps to find success in the surplus garment business, based on our 17 years of experience at Offpriced.
1. Identifying Market Gaps: Paving Your Path
The journey to success in the surplus garment business begins with identifying market gaps. By discovering an untapped niche or a problem yet to be resolved, you can provide a unique and valuable offering in the surplus garment market.
2. Understanding Your Competitors: A Crucial Step
“Know your allies well, and your competitors even better.” This adage rings particularly true in the surplus garment business. Recognize what sets your business apart and leverage that as your Unique Selling Point (USP).
3. Legalities in Business: Ignorance is Not Bliss
It’s crucial to understand that selling surplus garments involves specific legal norms. For instance, selling patented fabric designs, such as camo prints, requires a release. Ensure you’re operating within the law to avoid potential pitfalls.
4. The Importance of Quality Control
Implementing regular quality checks can help build trust with your customers, many of whom might be skeptical about the quality of surplus garments. Always aim to sell high-quality products and steer clear of low-quality or counterfeit items.
5. Diverse Stock for Diverse Needs
Keeping a diverse stock, including surplus garments for men, women, and kids, will enable you to cater to a broad range of customer needs. Staying updated with the latest fashion trends can help you meet the evolving demands of your customers.
6. Building Trust with Low MOQs
Offering your customers the option to start with low Minimum Order Quantities (MOQs) can enable them to gauge your quality before they commit to larger orders. This approach builds trust and can lead to repeat business in the surplus garment business.
7. International Stock Fabric: An Innovative Approach
One innovative strategy in the surplus garment business is to import stock fabric duty-free from other countries. This practice allows you to produce garments at competitive prices, comparable to typical export surplus pricing.
In conclusion, becoming successful in the surplus garment business is achievable by following these seven steps. At Offpriced, we’ve spent 17 years mastering these strategies in the surplus garment business, and we’re eager to help others do the same. To learn more about the surplus garment business and how you can make the most of it, check out our guide here.
