Managing your Activewear Business What Makes a Successful Sports Clothing Business

If there is one thing we can say about Millennials with great certainty that would be that this generation takes fitness very seriously. As a matter of fact, a recent survey claims that as many as 67.8% of the US Gen Y population has participated in some form of fitness sport which makes them the generation with the highest participation rate in recent US history.

Taking into account these people are also at this moment making the majority of the US workforce and the renewed interest in public health after the outbreak of the COVID-19 pandemic, starting a sportswear business does seem like a very prudent idea.

On the other hand, favorable circumstances seldom make a business successful. Let us take a look then at a couple of tips that should help you put your venture on the stronger foundations.

Understand the power of branding

A brand can be best described as the way your company is perceived by the public. If you want to reach any kind of success in any industry you absolutely need to take control of this process. In order to do that, though, you will first need to reach a great understanding of your company’s strengths and weaknesses as well as the people to whom you are appealing. Once you have these things sorted out you can give your company a unique voice, character, and personality adjusted to this audience. From this point on, creating a catchy logo, slogan, visual identity and other assets shouldn’t be that big of a problem.

Create a comprehensive business and financial plan

Both these documents take a great deal of uncertainty from running your company and give you a great reference point for measuring how well you are doing at any given moment. The main difference is that a business plan deals with overall concerns like a mission statement, long-term and short-term goals, financing, ownership structure, and market analysis, an effective financial plan goes deeper into the specifics and addresses the break-even point, personnel plan, cash flow plans, and sales forecast. It is in the best interest of your future activewear company to tackle both these documents with due diligence.

Find yourself a lucrative niche

Sportswear is a very crowded market. You also need to be aware that depending on what you intend to do you will have to go against either industry behemoths like Nike and Adidas or gigantic retail chains. The best to deal with these major obstacles is to try to find some corner of the market that isn’t completely carved out. If we take a look at the similar companies working in the industry we can see that, for instance, online shops selling quality women’s activewear are scoring major success so feel free to pick up a couple of cues. Doing thorough market research is, again, more than recommended.

Perform an effective marketing campaign

That can be performed in a number of different ways depending on your marketing budget and your intended audience. However, we would like to point out that the Millennial’s obsession with fitness and personal health does make blogging a very lucrative marketing channel. Also, the opportunity to write about these topics will help you reinforce the brand image and unique voice we have mentioned in the earlier sections. Another strategy that makes a very good match with the sportswear industry is guerilla marketing. There’s no better way to showcase the value of your goods than to publically put them into action.

Produce the top-tier garments

When all is said and done, it is the quality of your products that will determine the long-term prospects of your company. So, put a very strong focus on creating the products that will strike a good balance between quality, price, and functionality. Also, it is very strongly recommended to allow your branding ideas to inform design decisions, since you, ultimately want to practice what you preach. Since going against the competition head-on is not entirely viable releasing a limited number of products for a selected audience seems like a more beneficial approach. But, keep the quality as the number one priority.

Take care of the logistics

Commerce absolutely exploded during the COVID-19 pandemic. According to recent research, by 2023, online purchases will make about 22% of all retail sales in the world. Denying your activewear business of this component could seriously undercut your chances for success. So, be sure to follow the launch of your company with a professionally made website, online store, and preferably app. In this case, your goal should be to lure in as many people as possible so offering a variety of payment options and including some popular mentions like cryptocurrencies could nudge a lot of people in your direction.

These few suggestions are far from the complete story but they should provide you with foundations for starting your company on the right foot. Of course, your ultimate success will depend on a variety of other factors and, ultimately, your commitment and will to push forward. But, as long as you are headed in the right direction, every progress you make will be a step in the right direction. We hope we helped you in this regard.

How to Plan and Launch a Successful Real Estate Business

Planning to launch your real estate business instead of working for someone else? While real estate is a lucrative entrepreneurial opportunity, it is an enormously competitive area. The chances are that there are several authoritative real estate agencies actively engaged in the marketplace. 

 Here is a brief guide to planning and launching a thriving real estate business.

Find your Target Niche

The real estate niche is immense. While you may have countless business plans, casting your net too wide does not cut it. To give yourself a leg up on your rivals, you need to narrow down your ideas. 

For starters, set clear goals. For example, you may want to target a precise audience group. Or, do you want to concentrate within a specific city or area? Maybe you plan to focus on rental property management rather than buying and selling. 

By choosing your niche on time, you will easier stand out in the sea of similar businesses. Most importantly, you will easier brand your real estate business and get noticed by your target audiences.

Here are some of the numerous real estate business niches you may choose from:

  • Residential real estate
  • Resort and vacation homes
  • Rental property
  • Property management
  • Commercially zoned real estate properties
  • Condos
  • Income properties

Write a Business Plan

When launching a business, writing a business plan is essential irrespective of your industry. According to research studies, entrepreneurs who write a business plan are 2.5 times more likely to get their companies off the ground. 

A business plan is a document that specifies the financial and operational goals of your real estate company. It should explain your business ideas, values, and objectives. Most importantly, it outlines specific information that shows how your business will reach these goals.

While it may seem complicated, a business plan does not need to be 100-pages long. Keep it short, easy to understand, and concise. Focus on the core details of your business. There are numerous business plan templates you can download for free to simplify the process. As a rule of thumb, a business plan should contain the following segments:

  • An executive summary
  • An industry overview
  • Market research and analysis
  • Competitive analysis
  • Sales and marketing plan
  • Management plan
  • Operating plan
  • Financial plan
  • Appendices

Get a Real Estate License

To start a business in the real estate sector, you need to secure multiple licenses. A real estate license is one of them. In most states, the license allows you to sell residential real estate. However, you will need to obtain separate certifications to sell commercial real estate. 

To start working as a licensed realtor, you first need to take your state’s real estate pre-licensing course. It covers the regulations for your state and federal real estate laws in effect for all 50 states. Once you pass the real estate licensing exam, you will need to submit your real estate license application. Finally, find a real estate broker to work for. Namely, having your real estate license associated with a trustworthy brokerage is essential for starting a business. 

Build an Online Presence

Building an online presence is essential for real estate businesses. According to studies on homebuyers, 89% of them start their search online. 

For starters, build a professional business website. It is the first contact point between your agency and your prospective clients. Keep your website design logical, visually appealing, and user-friendly. Enable seamless browsing experiences, regardless of a visitor’s device.

Make sure your website embodies your real estate company’s values and builds trust with your target clients. Here are several steps to take:

  • Keep your website easy-to-navigate to provide seamless browsing experiences. Most of your clients have specific real estate requirements. If a website visitor is looking for Odessa apartments for rent, they are probably not interested in purchasing a commercial property in Austin. Therefore, allow visitors to apply filters, such as the property’s price range, beds, amenities, pets, tours available, property type, etc. 
  • Include your photo and bio. Your clients will want to know the person behind the company.
  • If you have collaborated with some renowned clients and companies, let your clients know about them. Ask them for testimonials and include their logos on your website.
  • Provide numerous opportunities for site visitors to get in contact with you. 
  • Write case studies that exemplify how exactly you helped a client achieve their goals.

Also, expand your online presence to other popular channels. Social networks are a perfect opportunity for you to build stronger relationships with your followers. Use these channels to promote your latest website offerings, as well as inform them about your company’s updates. Above all, provide helpful content that will answer their questions about the real estate industry.

Establish a Strong Brand Identity

Building a memorable and recognizable brand identity is essential for any real estate business. Your brand presence should embody the essential attributes of your business, such as its values, missions, and goals. It emphasizes the credibility of your company and builds trust with your potential clients. 

For starters, ask yourself some crucial questions, such as:

  • What personality do I want my brand to project? 
  • Who is my target audience?
  • What do I offer to my clients that they cannot get anywhere else?
  • What are the core values of my brand?
  • What is the core aspect of my customer experience?

Hire branding specialists and designers to help you build a real estate brand that stands out. It should include the core elements of your brand, such as its name, logo, colors, fonts, website design, shapes, etc. Your future branding and rebranding tactics will expand on the branding foundations you set when launching a business.

Keep your brand consistent across all online and offline marketing channels you use. Today, real estate signage, brochures, and promotional products are just half the job done. The other half is building your online presence via your website, social networks, and relevant industry platforms. Your goal is to keep your core brand elements consistent and recognizable across these channels.

Therefore, consider writing a brand style guide. This is a document that specifies how your brand elements should be used across different marketing channels. 

Have a Sales Plan and Invest in the Right Tools

Real estate is often a personal service. Therefore, having a hands-on approach is more effective. While your website and social networks help you generate qualified leads, building and nurturing relationships with them is your priority. 

For starters, invest in the right sales tools. Which channels do your clients use? Diversify your customer service channels to provide your audience with spotless support. Invest in an AI-powered call center, live chat, email support, and social media listening tools. The goal is to be where your customers are. 

A vital aspect of your customer service is a Customer Relationship Management (CRM) system. It helps you organize your contacts and collect actionable insights. For example, you can create relevant lead nurturing campaigns to walk prospects through the sales process more effectively. That is immensely important in the real estate sector since the home buying/selling process takes multiple steps. With a CRM solution, you can streamline the entire process and make it more informative. 

Over to You

Planning, launching, and growing a thriving real estate business can be challenging. There is a lot to think about when starting a business in this hypercompetitive industry. I hope this guide will help you succeed.