The bag industry is in the development stage. To start a bag and wallet business, the capital investment is very small, and the profit margin is very large. It is a good project worth investing in. Before launching, all the details of the business need to be carefully considered in order for the business to run smoothly.
If you have an idea to start a bag business, I suggest you follow the steps below.
1. Determine the market positioning
Determine the market positioning and clarify the target customers of the bag business, you need to think about what kind of bag store to open, whether it is a second-hand luxury bag store or other ordinary.
2. Select suppliers
Choose a cost-effective and strong supplier. This is the key to the development of the luggage business. The following points should be noted when choosing a supplier.
● A wide range of bags and wallets can be offered, giving you a wide range of choices.
● The faster the bags are updated, the more popular the bags are in the market or good.
●No minimum order quantity, which is especially friendly for new entrepreneurs.
● There is after-sales service guarantee, such as dealing with shipping and return problems.
3. Choose the location
If you are planning to open a physical store, choosing a location is very crucial, you must choose a location with a large flow of people.
4.Online and offline promotion at the same time
After the store is open, do more publicity such as nearby flyers, mark the store on google maps, you can also promote your store on Facebook, Instagram platform.
5. Choose online selling platform
If you want to open an online store, choose the selling platform you are familiar with, common ones are Shopify, Amazon, Facebook, in addition to using them, but also know how to attract traffic.
6. Set reasonable pricing and promotion
Develop reasonable pricing, so that your products and prices are competitive, both online and offline selling bags, it is recommended to do promotions from time to time to attract your customers!
7.keep the enthusiasm
It is very important to keep your passion alive. Keep exploring bags trends and customer needs, and if you consistently deliver what your customers want, it’s only a matter of time before you’re rewarded handsomely.
Nihaojewelry is a supplier that has been in the wholesale industry for over 9 years and has a wealth of experience in the wholesale bag business, from product trends, styles, prices, after-sales service and other aspects will really help you!