Have you been playing with the thought of starting your own handbag line? Perhaps you are wondering: is the handbag business profitable? Maybe you have also looked up topics like ‘how to start a handbag business online’?
Working on a handbag line is a great idea if you already have some exposure in the fashion industry. Pitching new accessories to an existing client base could boost your business. If you enjoy designing and wish to make a career out of it, a handbag startup could transform your hobby into a profitable business.
However, to make sure that the business remains lucrative, you must avoid a few common mistakes!
7 Major Mistakes You Must Avoid While Developing Your Handbag Line
1. Undermining the Importance of Research and Planning
You might have a few excellent handbag designs up your sleeve. Also, you might have zoomed in on a great large-scale handbag manufacturer. But there is more to a handbag startup. So, you need to have a business plan to make sure you can profit from your products.
Also, you must figure out who your prospective customers are. Will they look for practical everyday bags or high-end luxury handbags? How much does it cost to make a purse or a sling bag? This will help you in determining your pricing.
You also have to determine your market placement. You need to identify your toughest competitors as well. When you have accomplished that, you can develop your Unique Selling Proposition (USP). This gives you an edge over your competitors. Refer to the sources below.
2. Not Enough Marketing or Branding Knowledge
Marketing is an indispensable part of business strategy. After you stock your handbag line’s inventory and you are ready to place your products on the market, you have to make sure that people find out about your brand.
These days, a strong marketing strategy includes digital marketing and social media marketing. If you establish the presence of your brand online, your brand name can reach people all over the world! Check out the links below.
3. Not Researching Raw Materials
- Primary Material
For a handbag startup, it’s not enough to decide that you want to sell leather bags or canvas bags. Besides, there are different kinds of leather, each with its unique characteristics and expenses. The world of fabrics is way more diverse. So, you should conduct extensive research before deciding on the primary material for your bag.
- Metal Fittings
Handbags usually have several metal fittings included in the design. They could be buttons or buckles or loops. Hence, you have to determine which metal you wish to use. It could be a reasonably-priced or precious metal, depending on the pricing of your products.
- Supplementary Chemicals
There are other raw materials, which the manufacturers use for making handbags. They include adhesives, dyes, thread, resins, and so on. You need to have enough information on these to determine which ones comply with your region’s environmental laws.
4. Underestimating the Role of Design Knowledge and Sketching
Knowing how to create a handbag design isn’t simply about making it pretty. The design has a functional aspect too.
- How many compartments will the bag have?
- Will it have special utility pockets or hidden compartments?
- Is the strap adjustable or removable?
In addition, the bag must strike a balance between beauty and usefulness.
Good drawing skills are important for designers. So, you should know how to design handbags for manufacturing. Also, you must highlight all the features of the bag clearly in the sketch so that the handbag sample maker can recreate it efficiently.
5. Not Being Updated on Laws
Any business is required to obey the laws in its region of operation. A handbag startup is no exception either. Apart from the laws regarding business operations and financial handling, special attention must be paid to the following:
If your large scale manufacturer is based in a different country, you have to be well-versed with the import and export laws of your country as well as theirs. So, find out the procedure, the required documentation, and also read up carefully on banned items.
Your shipment might be subject to customs and duties. It’s wise to read up on this matter beforehand. It will help you to deal with any complications that might arise.
- Environmental Laws
Each country has regulations regarding environmental protection that businesses need to follow. So, the handbag manufacturer must not use materials that your country’s environmental laws don’t permit.
You might get some idea if you check out the following links:
6. No Arrangement For Inventory and Storage
When you are starting a handbag line, it’s essential to have dedicated storage space for your products. Handbags are delicate and cannot be stashed recklessly. Therefore, a waterproof, pest-free, and spacious storage space is required for proper inventory management.
7. Running a One-man Show
If you are thinking of handling everything on your own, from design to delivery, think twice. This model only works if you wish to keep your business very small and limit your customers to peer groups.
So, it’s better to focus on your own strength and leave the other departments to people with the required qualifications. This will save you from excessive stress and also ensure that quality does not suffer at any step of the process.
How Seeking Professional Help Can Make Things Go Smoothly
We have already addressed why each of the above mistakes should be avoided and how professional knowledge can make a huge difference. The only subject left to discuss is how a professional handbag manufacturer company like SLBags can make things easier for you.
Let’s take a quick look:
- Large-scale handbag manufacturer companies with exposure to international trade are already well-versed with the trade regulations and customs of many countries. They will not only follow the laws stringently but may also guide you to some extent.
- The manufacturing companies use skilled labor who can complete large orders within a short time.
- Professional manufacturing companies offer competitive prices. So, it would be much more expensive if you tried to buy raw materials and produce the bags yourself.
- Several handbag manufacturers and drop-shipping companies offer storage and inventory services to their clients. The client forwards order details and shipping instructions to the company. Then, the company directly ships the product to the customer. This could be a boon to handbag startup
- Professional handbag manufacturer companies conduct thorough quality checks. This is to ensure that the products match the approved samples. So, you will no longer have to put in the effort to inspect each item manually.
Now that we have introduced you to some of the most common mistakes that startups make, we are sure that you are prepared to take the next steps in your journey.