路聽聽聽聽聽 Will you be hiring staff or will you be the one doing the altering? – For now, I鈥檒l be the one who manage, operate and do the alteration and maybe 聽if we have a lots of customer in the coming months or years, I鈥檒l be asking for help of my grandma.
路聽聽聽聽聽聽聽 Do you have previous experience in clothing alteration business? – Yes, I do. Back in the Philippines, my family had a clothing alternation business that runs for more than 10 years. So by then, something I鈥檓 the one who do the alterations if it is a simple one.
路聽聽聽聽聽聽聽 How much do you think will be the initial investment? – I must say that it is around $300 to $800 from sewing machine and other materials that I need for the business.
路聽聽聽聽聽聽聽 Is the price displayed in your website penetration pricing or competitive pricing? – It is a penetration pricing. I want to set a reasonable price to gain more customers and give a good service.
路聽聽聽聽聽聽聽 Would you be open to expand the target geographic market to Thornhill and聽other nearby areas? – Yes definitely, if I got a positive feedback from my target geographic audience. I will surely open for expansion for the nearby areas.
路聽聽聽聽聽聽聽 Do you know other people who provides this business in Terrace? – No, but I know that there are 2 or more stores that offers alteration services.
路聽聽聽聽聽聽聽 What is your pricing strategy for various alteration services? – I want to start in a reasonable price so that I can easily be in the market of alteration. I set the price as $10 – $20 it depends on how simple it is and what kind of repair they need for their clothes.
路聽聽聽聽聽聽聽 What are your long-term goals for the business e.g. expanding to multiple locations, offering additional services? – I must say that offering other services aside from clothes like curtains, blankets, bedsheet and etc. Also, expanding to other nearby places such as Kit
路聽聽聽聽聽聽聽 Are there any specific permits or licenses required to operate a clothing alteration business in your area? -Since it is a just a side hustle, I don鈥檛 think that I need to have a business permits or license as of the moment, but if I will expand or open up a store in the future, I will be get a permit or license if needed.
路聽聽聽聽聽聽聽 How long do you expect it to take to reach profitability? 聽– I think probably 3 to 9 months, depending on how engaging my business is and how do I introduce it to the market.
路聽聽聽聽聽聽聽 How much revenue do you expect to generate monthly/annually?
聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽 Monthly Revenue – $100 – $350
聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽 Annually Revenue – $1000 – $3000
路聽聽聽聽聽聽聽 What are the estimated start-up costs like equipment and tools? – My estimated start-up cost for everything I need for this business is around $500 – $1200.