The sports clothing market is seeing a boom as fitness wear becomes more prevalent outside of the gym and more individuals desire to get in shape in fashionable training attire. Fashion-forward fitness apparel will account for a sizable portion of that industry by 2028, with brands like Sweaty Betty and Alo Yoga leading the way.
Starting your own fitness apparel business would allow you to capitalize on this expansion by giving individuals the equipment they require while earning a solid life. You must first comprehend the business launch process before you can start to think creatively.
Fortunately, this step-by-step manual includes all the advice and knowledge you require to get you started on the path to fitness wear success.
Step 1: Find Out if this is the Right Business for You?
Positives Vs Negatives
| Get Creative and express yourself with your own original designs. Profit margins on workout apparel are high, making it profitable. Selling online to customers worldwide in a global market | Increasing competition from well-known brands in a crowded market Need a Manufacturer – It might be challenging to locate a trustworthy manufacturer. |
Industry Trends
- Size of the industry and historical growth rates – In 2022, the worldwide sports apparel market will be valued $202 billion, up roughly 5% from the previous year.
- Forecast for growth: By 2028, the worldwide market for sportswear is expected to increase by 32%.
- There has been a significant increase in demand for athletic wear, which is apparel that may be worn for exercise or for everyday use.
- Customers, especially young folks, are looking for activewear that is manufactured responsibly.
Cost of Starting Fitness Clothing Line Business
A fitness apparel line’s initial investment might be anything from $3,500 and $9,000. Costs include a computer, fitness apparel design software, and manufacturer samples of your chosen apparel.
You should look for a white label manufacturer that does drop shipping if you want to keep your prices down. Your inventory expenses will be reduced to almost nothing since they will make and dispatch your fitness wear purchases as needed.
Take online fashion design classes on platforms like Udemy to develop your creative abilities.
Investment Items:
- Computer
- design software for athletic apparel
Is Fitness Clothing Line Business Profitable?
Fitness attire varies widely in price. For the sake of these computations, a $25 average price for an item is used. Following manufacturing expenses, your profit margin should be in the range of 40%.
Selling 70 products a week while working from home may earn you $91,000 in your first two years of business. According to the assumed 40% margin, this would result in a profit of $36,000. Sales may increase to 200 products each week if your brand becomes more well-known. You would earn a healthy profit of $104,000 on a $260,000 yearly income.
Entry Barriers
- The ability to generate appealing styles via design
- Differentiating from well-known fitness brands
Step 2: Create a Strategy
It makes sense to refine your concept in anticipation of entering a crowded industry now that you are aware of what goes into launching a fitness apparel business.
Even if you are already confident that you have the ideal product or service, market research will give you the upper hand. It’s crucial to carry out market research since it may help you better understand your clients, your rivals, and the environment in which you operate.
Identify a Gap
Look into local workout apparel brands to compare their offerings, asking prices, and client feedback. You’re aiming to fill a market gap. For instance, perhaps there isn’t a plus-size fitness clothing company in your area or no sustainable workout clothes.
Your word-of-mouth advertising may pick up steam as a result, drawing customers in immediately.
Solutions
All you have to do is create a selection of outfits for your fitness apparel brand. You may create clothes for both men and women.
Pricing
The cost of athletic wear varies greatly. The materials utilized and your manufacturer’s expenses will affect how much you charge. A profit margin of roughly 40% after expenses is what you should strive for.
To calculate your markup and final price points after knowing your costs, utilize our Step By Step Profit Margin Calculator. Keep in mind that the prices you employ at launch should be flexible and subject to adjustment as the market demands.
Target Market
Given the size of your target audience, you should diversify your marketing efforts by using platforms like Facebook, Instagram, and TikTok.
Location
You could wish to start your business from home in the beginning to save money. But as your company expands, you’ll probably need to recruit personnel for a variety of positions and perhaps even rent an office. Sites like Craigslist, Crexi, and Instant Offices are good places to look for rental opportunities for business space in your region.
These general guidelines may be helpful to remember while selecting a business space:
- Central site that is reachable via public transportation
- Large, well-ventilated, and well-lit
- As your firm expands, you may extend your flexible lease.
- Unrequited big repairs or renovations, ready to utilize area
Step 3: Write a Business Plan
Every company need a plan. This will serve as a manual to help you through the launch process for your firm while staying focused on your major objectives. An investor’s and partner’s ability to comprehend your firm and its goals is also enhanced by a business plan:
- The executive summary, which should be produced once the plan is finished, provides a concise summary of the whole document.
- Overview of the business, including ownership, vision, purpose, and corporate goals.
- Give a thorough description of your products and services.
- Analyze the market by doing a SWOT analysis and evaluating trends like changes in demand and development potential.
- Construct a list of the benefits of your services after analyzing your top rivals’ strengths and flaws.
- Develop sales, marketing, and promotional tactics by considering your firms’ USPs (unique selling propositions).
- Overview of the management team, including a corporate structure, information on each member’s responsibilities and educational background.
- Operational Plan: The operational plan for your firm outlines logistics, office location, essential assets, and other purchasing decisions.
- Financial Plan: Three years of financial planning, which includes startup expenses, break-even analysis, profit and loss projections, cash flow, and a balance sheet.
- Added financial or commercial documentation should be included in the appendix.
Step 4: Create a Marketing Plan
Even if some of your customers will be infrequent web users, you should nonetheless engage in digital marketing! For new firms, spreading the word is crucial since it will increase brand and client recognition.
Once it’s up and running, connect your social media accounts to your website and vice versa. Social media is a fantastic tool for company promotion since you can make interesting postings that promote your goods:
- Facebook is a fantastic paid advertising tool since it lets you target particular demographics, such as males under 50 in the Cleveland region.
- Instagram offers the same advantages as Facebook, but with distinct target markets.
- Website: SEO will make your website more visible at the top of relevant search results, which is essential for boosting sales. Make sure to optimize your website’s calls to action. Play around with the wording, color, size, and placement of calls to action like “Buy Now.” This may significantly enhance sales.
- Google and Yelp: For companies that depend on local clients, listing on Google My Business and Yelp might be essential to attracting attention and clients.
- Post a video—Post a video about your activewear. If you add comedy, it can gain popularity.
- begin a blog – Create a blog and publish frequently. Share on many websites and vary your material.
- Make press releases on new items, promotions, etc.
- Paid social media advertisements: Use sites that can help you contact your target audience and run focused advertising.
- Use Google AdWords for pay-per-click marketing to rank higher in search results. Do some keyword research beforehand.
- Influencer marketing: Pay individuals with substantial social media followings to promote your athletic wear. Micro-influencers are those with smaller audiences and cheaper charges.