Leather bag making business can be initiated with moderate start-up capital and from home location. A person having an idea or training in fashion designing would like to break into the leather bag making business. You can come up with a line of designs that you can get into manufacturing or retailing. Bags made of synthetic material are considered as consumer durable item. All machines and raw materials used for its manufacturing are easily available from indigenous sources and not much technology is involved in manufacturing.
Bags made of synthetic material are considered as consumer durable item. All machines and raw materials used for its manufacturing are easily available from indigenous sources and not much technology is involved in manufacturing.
Market Opportunities For Leather Bag Making Business
In recent years, the demand for Leather Goods industry has grown. According to a report, industry revenue is forecast to reach $91.2 billion by 2018, with a CAGR of 3.4%, over the next five years. Consumer demand has been shifting toward the new design and innovative leather products with changing fashion trend and lifestyle.
The scope of manufacturing this item is increasing due to the growing demand of bag users carrying a different type of things like a laptop, office files and notepad in their day to day official and business activities. The varieties leather bag item has a very good demand in India and neighboring countries.
The demand for leather bag items like handbags, purse, belts, wallets are a never-ending one. As a result, this business is recognized as an inflation-free business.
Business Plan For Leather Bag Making
Outline your goals and describe your leather bag making business plan in detail with all financial information and also information about your target audience. A business is only successful when it has customers, so before you open your doors, determine who will be buying your leather items. What they look like. Where do they live? What is their demographics? Will you focus on a special category of a leather bag such as laptop bag or will you go for a variety of leather goods?
License/Permits For Leather Bag Making Business
In starting leather bag making business you will need to obtain Trade License in India. Consult with an attorney about the necessary license or permits in your area. You can register your business as SSI Unit. Obtain Sales Tax registration from concerned authority. Choose a catchy memorable ‘Name’ for your product. Protect the brand name by registering Trade Mark.
Leather Bag Making Process
To manufacture leather you would need to come up with designs of the article you want to make and have them made. Go for a unit set up with the machinery obtained from reliable suppliers. Specific standards are to be followed as mutually agreed upon between buyer and manufacturer.
Final inspection is a must before packing and shipping. This type of leather bag making business does not emit any kind of pollution so no point to check the pollution.
Promote Your Leather Bag Making Business
Create marketing materials and tools and get them In front of your target market.
Establishing your own retail store for your products is the best option.
You can start business retail consignment basis or can go for distributor network.
Ensure that your product is available at all retail stores in the area you are covering.
Go for some outdoor advertising.
Concentrate on corporate clients. Leather bags have a wide demand as customized promotional gifts.
Create a decent and informative website of your leather bag making business, displaying all your product with details specifications.
As perception means everything nowadays, you must work with a professional photographer and agent to project the right message to the right consumer you are aiming for in your website.
Introduce your brand to the market via trade shows and fashion weeks.