How to Start a Socks Business/Store?
Firstly, you should agree with that a socks business is about making money, which brings us to sales and costs, so let’s start with a real socks business(socks company) analysis. You might also be interested in start a business by promoting custom logo socks in your country.
<Content Copyright : This post is officially from www.meetsocks.com/blog, thanks for stopping by>.
Note:
- If you are starting a socks business with the help of local distributon networks, this article is perfect for you.
- If you are starting a online socks brand, this article also works for you, except that you don’t have the advantage of ‘Natural local store traffic’, and you don’t have to spend money decorating your store.
- This simple analysis uses a business strategy called ‘TTPPRC’, I will add a footnote if you needs further information.
As shown in the mindmap, the frameworks looks like this:
- Getting more sales
- Trend in socks business
- Getting traffic for your socks store
- Packaging your socks & decorate your store
- Always care for your products
- Get more revisit (It’s more easily to do business existing customers since you have already had some connections)
- Spending less costs
- Renting fees on store networks
- Marketing fees
- Socks Manufacturing costs
1. Getting more sales for your socks business
- Trend in socks business
Teenagers need identity, there is a trend that people are using socks (as an alternative of clothes/shoes) to show their difference and preference of everyday life.
Customers has got tired of those black classic socks, they need something more bright, more characteristic.
A list of some online/offline brands:
- JoyofSocks
- Socketines
- HappySocks
- Sockittome
- Getting traffic for your socks store
You will have some natural traffic since your store is open to the streets, this appears as one of your advantages, but do remember, you have to pay for the rents. In these stores you will execute some promotions so that your performance won’t be so bad in the first couple of months after launching.
As you are pursuing more traffic to come, “brand awareness” is one of “the must-dos”, you will publish advertisements (facebook, instagram ads recommended, where you can target to a very explicit audience, you can search in Youtube for tutorials) to create some sense of brand popularity, you can also offer discounts or whatever appealing so that people engage more in your social network accounts, thus influence more potential audience.
- Packaging your socks & decorate your store
Packaging is important, as you are runing on local store networks, decorations are something that needs further attention, customers will step into your store because they love its style, otherwise they will just run away.
There are many online stores now runing a business called Dropshipping, They will launch a good-looking website, publish ads on facebook to target audiences that have interests in such goods, and when the website gets sales they will order from Chinese shopping platforms (like Aliexpress and Dhgate) to ship the goods dirtectly to their customers, same goods, 5–10 times of actual price. —It’s all about decorating and style 🙂
- Always care for your products
Never forget your products, and keep a solid relationship with your manufacturers. Money counts but it doesn’t means everything, you should find a responsible manufacturer, I think you can feel it while communicating. If possible, please fly to China and have a face-to-face meet with the manager+sales representative, that helps you sleep well in the night 🙂
- Get more revisit (It’s more easily to do business existing customers since you have already had some connections)
Socks subscriptions (monthly, seasonly, annualy) are highly recommended, it helps you estimate your sales, also, helps with socks stocking planning which we will be discuss below
Memberships. Ask your customers to sign in your email lists, ( so that they will receives promotions at first time), small gifts giveaways are also applicable too.
Social Network Sharing again——Highest ROI action.
2. Spending less costs
- Renting fees on store networks
We will not talk much about that, you must know about the local comercial conditons.
If you are starting an online store business, you should consider the cost of creating a socks website here.
- Marketing fees
As said above, facebook ads are more recommended, you can try Google adwords too.
- Manufacturing costs
I can talk about this whole day if you would like to hear, but I want to make it short here: Socks Manufacturing is just a small part of the whole line of business, many Chinese manufacturers will complain at earning low manufcturing fees, but they don’t realise the importers (like you) are spending much more time planning, executing, and sustaining the business. So, everybody works and gets his own share, fair enough.
As you may be curious of the specific price of socks manufacturing, there isn’t a specific number since it varies with your quantity, patterns, and yarns chosen. But here is an example:
for a custom socks order which contains 2000 pairs of socks, a common American/European manufacturer would charge you $5 or more per unit, but in China, Aha, you can get it at $1-2, or less. Also note that the world’s top quality socks are mostly made in China. When people are talking about low-quality socks made-in-China, they are talking about 1990s or those made in small home-socks-factory.
3. Conclusions and Tips for starting your socks company
In conclusion, you will need following prepared to run the socks business:
- Budget (Check our blog I will publish a post about budgets later)
- Creative design (socks, packages, decorations, ads, etc, find some expert in these if you are not good in designing, PS: we MeetSocks also provides designing service)
- Marketing strategy (You can do this by your own if you have effort)
- A reliable manufacturer (hope you will contact me +_+ tired typing for 5 hrs for this article)
Check the list and the socks business mindmap, then you should be good to go. Good luck!
NOTE: If you want to find a responsible socks manufacturer, you can directly email to our sales service: [email protected]
Its like you read my mind! You appear to know a lot
about this, like you wrote the book in it or something.
I think that you can do with a few pics to drive the message home a bit, but
other than that, this is wonderful blog. An excellent read.
I will certainly be back.
Hello ,We are a new sock manufacturing company based in western NC.Family owned and operated.We specialize in custom logo socks with minimums at 1 dozen per order.We are set up to get your custom socks to you in 12 to 14 business days.No show,quarter socks,crew,over the calf,knee high ,etc.Made with the highest quality yarns available.All our yarn is bought right here in NC. Wool,acrylic,polyester,nylon,etc.Just tell us what your looking for and we will be glad to get it for you at a cost cheaper than the big guys.We have low overhead cost and pass that on to our customers.
How can I contact you, Lori?
lori you dont have a way to locate you,
Here is Lori’s registered email address: [email protected]
You can contact Lori for small-quantity socks customization, MeetSocks suits more for bigger quantities.
Best
WOULD LIKE TO DISCUSS THIS IN MORE DEPTH. MY NUMBER IS xxxxxxxxx.
I want to start my brand how to reach you
I am a neckwear and accessories designer and I would love to implement socks as part of my collection. That would complete the total package for men’s accessories.
Thanks
Jerron JB Collins
Proper A-Tie-er
Neckwear and accessories
Great! How can we help?
Great information here, thank you so much. I’m disabled but don’t get enough funds to survive on. Time is of the essence as my family screwed me and I’ll soon be homeless at 62 years old. I have already started a list of possible names for starting a sock company, now working on my mission statement and trying to estimate start up costs. Initially I’ll have to use a supplier that doesn’t require large orders but I’m hoping that it will be successful so that I can then order from Meet Socks. After I’m able to afford a small place to live I would love to create enough income to move back to my small hometown and start a no kill animal shelter with some of the profits. It is tough going from being a workaholic as a Paramedic, being able to save lives and deliver a few babies into the world to feeling a bit worthless. Hopefully I can make this work somehow, no other options right now. I hope you have a newsletter as I would love to know more and I need to do this the right way rather than to fail.
Hi Cindy, It’s great to know that you’ve got a plan, I wish it a smooth grow-up.
Please also be sharp on the expenses and potential risk. Marketing is essential and probably you don’t have the advantage. Anyway I still hope you can make it happen!
Best wishes,
MeetSocks Team
I want be producing my own socks, how will I go about it ?please put me through
Dear Sir
I hope you are well ,I am contacting you from Pakistan in connection with supply of woolen products to include socks ,pullover and gloves.I appreciate that you have same products which we manufacture. All products military grade and premium quality can be supplied at economical rates.
Looking forward for favorable response
With best wishes
Very good experience, and I am preparing a shop, Thanks
Hey im starting a new socks industry ,my new bussiness project
Hello kevin if you interest please contract my mail.
[email protected]
Hi there,
I am interested in my own children’s socks line and would love some information. Thank you!!!
Thank you for sharing. How to start the socks business? I think it is mainly the following 3 points. 1.SOCKS MANUFACTURING PROCESS 2.SOCK MATERIAL 3.SOCKS MARKET GROWTH ANALYSIS
Hi there
I would like to start a sock line and want to sell it myself, so i need a manufacturer such as yourself, am base in South Africa, so lets say i have 5 designs and want the Bamboo yarn and multiply that by a 1000, its 5000 how much would that be and how are do you deliver and what requirements are the.
Thank you for an informative site,i will definitely visit again.
Thank you.
Hi Thina,
Thanks for leaving a message, the bamboo yarn is special and it would require a MOQ much higher, can we go with cotton blend?
Regards,
MeetSocks Team
Hi
I want to start my own sock brand, I have a name already and I am starting to work on some designs. What should I do next? Should I try to get some socks made?
Hi Keyon,
Can you write an email to [email protected]?
Thanks,
Nicely brifed.
Hi, I have been thinking a lot about starting my own branded sock. Although i must say i know little about the sock business… Where do i begin if all i have is just an idea?
Hi Jacky,
Thanks for leaving a message.
Most of out clients have their online store for selling socks. I think you can start searching information related there.If you have a sock design we can definitely make it into real socks.
Best,
MeetSocks Team.
I am interested in starting a sock business for a school project. I need a cheap manufacturer and a quick one! I have a lot of questions and don’t know how to go about it.
I am starting a socks business. I need startup information and securing quality socks. Please help. Thank you.
IM TRYING TO START A SOCK BUINESS. IM HAVING A HARD TIME FINDING A MANUFACTORING COMPANY.