Business Plan In Pakistan

Pakistan is an under developing country. It has a low-frequency job rate. Jobs in Pakistan are less and demand a high qualification. Underfortunality, the majority of the public is powerless and can not afford higher education. So the unemployment rate is increasing day by day.

To help the public for survival, the government is pushing them towards business. There are several businesses that a person can do to run his family peacefully.

To start a new business, one should follow the following points to lead the business in the right direction.

• Before starting a new business, do as much research as you can. Research provides you the scope of business in the market. It gives you the trend of the business and its up and downs. Research gives you a rough estimate of investment, expenditure, and profit of the business.
• Promote the business personally and through advertisement. For advertising, use social media, print media, and electronic media. Establish a website and put all the necessary information on it. Regularly add new events and upcoming things to your business.
• Answer all the compulsory questions of the customers.

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  Provide valid contact information to the customers. Contact can be through mobile, e-mail, or any other medium.

• In your business, take only those steps which you can fulfill. Never select anything which you can not provide to the customer on time. Punctuality is the key factor to progress in a business.
• Always take a check and balance in your business. After every six months, look back and check your progress. If the progress of six months is satisfactory, then move forward and put new suggestions into the business.
• Never turn right or left from your motive. Keep motivation in you and move forward. Motivation pushes a business person towards success.

Pakistani women are trying to stabilize their life. Women are working in offices, and many are trying to set their own business. One of the businesses which have an equal interest in male and females of Pakistan is the garments business. In this article, we will discuss all the details about starting a business in Pakistan with an example of the boutique business.

Business Selection in Pakistan

When you make up your mind to start a business, first decide what business you want to do. It is best if you start a business of something that you like. This way, your business will become your passion too.

The boutique is the dream of many women in Pakistan. They want to stand on their own feet and enjoy a stable life. A boutique is a business in which one sells fabrics, garments, and other accessories of life. Boutique business is famous and has roots in big cities of Pakistan like Lahore, Karachi, Islamabad, Faisalabad, Multan, Peshawar, etc.

This business depends upon the passion and creativity of the owner. Boutique Business needs periodic changes and techniques for progress. Boutiques offer a wide range of dresses to the clients. Variety of boutiques includes casual dresses, party wear, traditional dresses, western-style dresses, semi party wear, and bridal dresses. Boutiques have a variety of dresses for children, males, and females.

The dress is the basic need of life, so this business has opportunities to expand in Pakistan. 

Narrow down the Business Selection

When you select a type of business you want to do; you will have to narrow down your selection. It will be best if you narrow down the selection as per your budget and the time you can give to that business.

In the case of a boutique business, there are various types of it. The types of boutiques are as follows.

Consignment Boutique

It is a type of boutique that needs no investment. In this type, the boutique owner sells the products of other manufacturers and gets the profit percentage. It is beneficial for those who do not have an investment. The profit is very short, so the owner needs to sell a large number of products to get good earning.

Franchise Boutique

It is the second type of boutique. It runs under the supervision of a large brand. In this type, the franchise owner pays a handsome amount to the large brand. It needs a large initial investment to buy the brand franchise. The expenses of this type of boutique are high as the brand decides its standards. The advertisement in the community is necessary. It is profitable because the company franchise has its traffic.

Buy and sell Boutiques

This boutique needs a high initial investment. They buy material from the manufacturers and sell them to the customers with a significant profit. It is the most profitable type of boutique. The owner buys the goods at the wholesale rate from the manufacturers. This boutique needs advertisements a lot.

Location

The first and most important step to start any business is location selection. Always select a demanding location. Select a location that gives a versatile look to the boutique. Location is the key factor as it sets the image of the business. The scope of a business depends upon the location.

Make sections of the boutique according to the requirement, for example, children's garments, gents garments, ladies garments, stitched garments, and un-stitched garments.

Investment

The base of the business depends upon the investment. If you have a low investment, then set your expenses according to that. Boutique business can be started with both low and high investment. The quantity of investment depends upon the investor. The investment is required for buying the machinery. Buy the machines according to your work scale. Sewing machines and overlock machines are necessary; others are optional.

The second thing that should buy is material like fabric, buckram, buttons, lane, and others according to fashion. If you want to buy ready-made dresses, then find reliable and quality suppliers. After deciding the supplier decide on the designs, you want to buy.

Name of Business

Decide the name of the business. The boutique name should not reflect an already existing brand, company, or a boutique. The boutique name should be unique and attractive. Register your boutique. Make a taxation file, pay taxes regularly, and maintain the file.

Funding Source

Most of the business does not give profit in 2-3 years. To run the business, the owner has to invest in the business. For that purpose, select a suitable source that funds your business. Funds are needed, for staff salary, material buying, building rent, bills, and advertisement, etc.

If you do not have a stable funding source, you can go for a business loan from a bank. The loan should be applied carefully. First, decide how much money do you need. Think about if you can return the money from your profit. Also, decide how much time it will take to repay the bank loan.

Price of the Products

Your product price will take the business to the highest point, or it will ruin your business. Before deciding the price visit the area from where customers come to you. Always select a price that customers can afford. Add sales tax to your price. Goods prices should give you a valuable profit. You have to balance the price of the goods. Each material can not be sold at the same price. Few products give you less profit while few give you high profits. The overall ratio of profit should be balanced.

Interior

The first impression is the last. The interior of your business location should be welcoming, appealing, and eye-catching. Decoration of the boutique is necessary. It attracts the people towards shopping. Walls, racks, and counter should be well decorated. Try to use contrast colors. Each portion of the boutique should have different colors and decorations. Use bright colors. Make the arrangements in such a way that customers have the facility to take goods in hands. Customers can easily check the material and buy after satisfaction. Make the kids' section to attract colorful to attract kids.

Working Staff

Hire a good working staff. The working staff should be polite and kind. A well-behaved working staff creates a friendly environment with customers. Customers feel relaxed with kind and patient staff. Monitor the cleanliness, behavior, and dealing of staff with customers.

Social Media Marketing

Promote your business as much as you can. Nowadays, promotion becomes so easy with social media. Create pages on Instagram, Facebook, Twitter, etc., or use WhatsApp to promote new arrivals. Make advertisements for the local tv channels. Social media is the cheapest source of promoting boutique. Radio, blogging, print ads also help in promotion.

Create a website and add all information relevant to the boutique on it. Add address, contact number, dresses with a price, and new arrivals. Provide online buying facilities on the website.

Online Selling

Nowadays, people prefer to buy online. For this, create a colorful website. Hire an expert artist who designs your website and maintains online sellings. Keep the interest of the customers by adding new arrivals. Add a picture of the product from each angle. Decide the price of the product after adding sales tax and delivery charges. Or you can place the delivery charges separately.

So now you know all the essentials of starting a business in Pakistan. We have tried to elaborate the whole process with an example too for your better understanding. So buckle up and think of starting a business now.