Why Choose This Business?
It is observed that teenagers these days love to wear personalized T-shirts as these T-shirts are trendy, stylish and most of all tells a lot the Wearer’s personality. It is a fact that so many teenagers and people in their twenties using personalized T-shirts with their favorite quotes or pictures on them. It can be either a quote they like or pictures of any favorite personality or they can support a cause and let the world know about their point of view on a particular topic. That is why it is profitable to fill this gap and satisfy the needs of the people.
Objectives:
The objectives of your startup are straight and simple.
- To make a name in the personalized T-Shirt market
- Achieve profitability
- Expand the startup to other areas to target more profitable customers and enter new markets.
- Design and implement strict financial controls to help ensure success.
Target Market Segment Strategy:
Your target market includes individuals aging from 15 to 24. Initially, your services will be available to residents of some areas that are easy to manage and as time goes you can expand your services to more areas and to more customers. This particular age group is chosen because males and females alike are more into fashion at this age. After some market research which concludes that the young generation these days likes to your shirts with some personalized images on it. So your strategy is to design personalized T-shirts that have their favorite pictures or lines or anything they like printed on them.
SWOT Analysis:
SWOT Analysis will provide you with a comprehensive insight into the strengths, weaknesses, opportunities, and threats of your startup. It is understood that SWOT analysis is important to find out weaknesses in the startup and work for improvement. SWOT analysis is also appropriate for seeking start-up or expansion capital from investors, banks, and incubation centers.
Strength:
- Better customization.
- Unique, high-quality prints.
- Cost-efficient
- Economies of scale
- Differentiation
Weakness:
- Your Supply Chain.
- Lack of scale.
Opportunities:
- Online Market.
- Innovation
- New Market.
- New Services.
- New product.
Threats:
- Mature Markets.
- Change in Tastes.
- Substitute Products.
- Intense Competition.
Promotion & Advertisement:
To make the company grow faster to get success and profit, you will need to promote your company and for that task, you will have to advertise it through the following ways:-
Newspaper Ad:
Your startup for personalised polo T-shirt will be promoted through newspaper advertisements. You will use the logo and tagline of your product for its advertisement in the pages.
Facebook Page:
Facebook is a great way to connect with your target market and it could be really helpful in generating profitable leads. You would also have the feature to order directly from the Facebook page so that you can expand your reach. It’s the root of where people will order the shirts and look for the pictures of your T-shirts so they can order by looking at the products.
Competition in Market:
Your Personalised T-shirt startup will have some competitors too for sure because it is a growing market and there is a lot of potential in the market that is why you are prepared for the threat of competition and you need to make sure that your company looks different from them. You have planned value addition strategies that will make you look different from your competitors. For instance, you would use freebies with your products and who doesn’t like free gifts. Strategies like this will increase the value of your product and achieve differentiation in the market.
Unique selling point and competitive edge.
There is going to be a lot of competition in the market once the company starts to get in a good position, so what exactly is going to make your startup different from others and why should the customers would choose your business.
- The USP of your startup could be that you could have a separate dedicated department for business order and you can produce in bulk quantity for the customization of workwear for businesses.
- The quality of the T-shirt fabric is good, it is not the kind of shirt that will lose its printing in one wash or easily like that.
- Personalization to almost every extent, not just the print and the color but your startup will have the feature to get desired designs and patterns with accuracy.
- Good delivery system. The company will give a guarantee of delivering the shirts exactly at the given time. Absolutely no delays.
- Its less in cost means that it is not expensive and affordable enough for anyone to buy it.
Because of the following reasons, your startup will have more potential to succeed and make a name in the market of personalized T-Shirts.
