How to Start a Waist Trainer Business

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A waist trainer business is a business that designs and produces waist trainers for a target demographic or market. These waist trainers are sold in boutiques, retail locations, and/or online stores. The purpose of a waist trainer is to give the user a slimmer, smaller waist. Usually, a combination of firm fibers and tough fabric makes up waist trainers.

The size of the global Body Shaper market was estimated at US$ 2,246.5 million in 2018 and is projected to develop at a CAGR of 6.91 percent from 2019 to 2023. The size of the worldwide shapewear market was estimated at USD 1.9 billion in 2020, and it is anticipated to increase at a CAGR of 8.0 percent from 2021 to 2028.

Steps on How to Start a Waist Trainer Business

Conduct Market Research

The first step in conducting market research for your waist trainer business is to develop market-based research questions that are consistent with the overall goal and objective of your company.

In this regard, you should look for information that will provide you with accurate data about what your potential market will be seeking from a waist trainer business, the designs, and styles that people will be willing to pay more for, information that will help you run your waist trainer business stress-free, and help you get the business to profitability in the shortest amount of time.

a. Who is the Target Market for a Waist Trainer Business?

Ladies
Men
Waist trainer wholesalers and distributors.

b. Is the Waist Trainer Business a Profitable Business?

Yes, the waist trainer business is a profitable business. Statistics show that the waist trainer market was estimated at USD 1.9 billion in 2020, and it is anticipated to increase at a CAGR of 8.0 percent from 2021 to 2028 in the United States of America.

c. Are There Existing Niches in the Industry?

No, there are no existing niches when it comes to the waist trainer business. This is because the waist trainer business is a niche idea in the shapewear and lingerie production industry.

d. Who are the Major Competitors?

Nike, Inc.
Adidas AG
Spanx Inc.
Triumph International Corporation
Leonisa
Wacoal America, Inc.
Ann Chery
2XU Pty. Ltd.
Under Armour Inc.
Skins International Trading AG
American Shapewear
Perfect Shape
Lingerie Mart.

e. Are There County or State Regulations or Zoning Laws for Waist Trainer Business?

Yes, there are zoning laws and county or state regulations governing waist trainer businesses. Participants in this industry are expected to comply with these regulations in the county or state where their business is based.

f. Is There a Franchise for Waist Trainer Business?

No, there are no franchise opportunities for the waist trainer business.

g. What Do You Need to Start a Waist Trainer Business?

A Feasibility Report
Business and Marketing Plans
Business Licenses and Permits
A Good Production Facility and Showroom
EIN (Employer Identification Number)/Federal Tax ID Number.
A Corporate Bank Account
Equipment, Machines, and Raw Materials
Employees
Startup and Working Capital

Choose a Memorable Business Name

When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.

Some of the catchy business name ideas suitable for a waist trainer business are;

Creative Waist Trainer Business Name ideas

Hour Glass® Waist Trainer Company, Inc.
Classic Shape® Waist Trainer Company, Inc.
Ladies Nation® Waist Trainer Company, Inc.
Eve’s Daughters™ Waist Trainer Brands, Inc.
One Pack® Waist Trainer Company, Inc.
Sharon Designs® Waist Trainer Business, Inc.
Jessica Label® Waist Trainer Company, Inc.
Sarah Jones® Waist Trainer Company, LLC
High End® Waist Trainer Company, Inc.
Tina McConn® Waist Trainer Company, Inc, Inc.
Zara Bond® Waist Trainer Company, Inc
Zoe Neon™ Waist Trainer Company, LLC
Cloe Justin™ Waist Trainer Company, Inc.
Ageless Beauty™ Waist Trainer Company, LLC
Women Rev® Waist Trainer Company, Inc.
Isabella Shannon® Waist Trainer Company, Inc.
Stacy McKim© Waist Trainer Company, Inc.
Jean Johnson™ Waist Trainer Company, LLC
Daniella Signature™ Waist Trainer Company, Inc.
Emmanuella James® Waist Trainer Brand, Inc.

Register Your Business

a. What Type of Business Structure is Best for the Waist Trainer Business?

While there are a number of possibilities, including sole proprietorship, partnership, limited liability company (LLC), and corporation, when it comes to the legal form of a waist trainer business, an LLC is the one that the majority of companies in this industry choose.

Companies usually form an LLC in order to defend themselves in court. Please keep in mind that an LLC will require an EIN if it is required to file any of the excise tax forms listed below or if it has any employees.

b. Steps to Form an LLC

Choose a Name for Your LLC.
File Articles of Organization.
Choose a registered agent.
Decide on member vs. manager management.
Create an LLC operating agreement.
Comply with other tax and regulatory requirements.
File annual reports.

c. What Type of License is Needed to Open a Waist Trainer Business?

General Business License
Seller’s Permit
Fire and Safety Permit (Fire certificates)
Federal Export Licenses
Zonal Permits
Signage Permit
State Occupational Licenses
Operational State Facility Inspections (Building Permits)

d. What Type of Certification is Needed to Open a Waist Trainer Business?

You don’t need any certifications to open a waist trainer business.

e. What Documents are Needed to Open a Waist Trainer Business?

These are some of the basic legal documents that you are expected to have in place if you want to legally run a waist trainer business in the United States of America;

DBA
EIN
Business and liability insurance
Federal Tax Payer’s ID
State Permit and Building Approval
Certificate of Incorporation
Business License
Business Plan
Employment Agreement (offer letters)
Operating Agreement for LLCs
Insurance Policy
Online Terms of Use
Online Privacy Policy Document
Contract Document
Company Bylaws
Memorandum of Understanding (MoU)

f. Do You Need a Trademark, Copyright, or Patent?

If you are considering launching a waist trainer business, you don’t always need to register a trademark or intellectual property protection. This is because the structure of the business makes it possible for you to run it successfully without needing to take legal action against anyone for utilizing your intellectual property without your permission.

Cost Analysis and Budgeting

a. How Much Does It Cost to Start a Waist Trainer Business?

The initial fees for launching a waist trainer firm might range from $650,000 to more than $1 million.

b. What are the Costs Involved in Starting a Waist trainer Business

The Total Fee for Registering the Business in the United States of America – $750.
Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines, and other software) – $3,300.
Marketing promotion expenses for the grand opening of the waist trainer business in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
Cost for hiring a Business Consultant – $2,500.
Insurance coverage – $2,400.
Cost for payment of rent for 12 months at $1.76 per square foot a total amount of $250,300.
Cost for facility remodeling (construction of racks and shelves) – $5,000.
Other start-up expenses include stationery ($500) and phone and utility deposits ($2,500).
Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $120,000
The cost of equipping the production factory – $245,000
The cost for start-up inventory (materials, sewing supplies and packaging materials et al) – $155,000
Storage hardware (bins, rack, shelves, food case) – $3,720
Cost for store equipment (cash register, security, ventilation, signage) – $3,750
The cost for the purchase of furniture and gadgets: $7,000.
The cost of Launching a website: $600
The cost for our opening party: $3,000
Miscellaneous: $5,000

c. What Factors Determine the Cost of Opening a Waist Trainer Business?

The size of the waist trainer business
The choice of location
The required licenses and permits
The type of waist trainer business (mass production or handmade)
The cost of branding, promotion, and marketing of the business
The cost of furnishing and equipping the production facility
The cost of the insurance policy covers
The cost of registering the business
Source of your supplies and ongoing expenses
Cost of recruiting and training your staff
The cost for the purchase and customizing of uniforms
The cost for the grand opening of the waist trainer business.

d. Do You Need to Build a Facility? If YES, How Much Will It Cost?

No, it is not compulsory to build a new facility for your waist trainer business, but, if you have the required finance, it will pay you to build your own facility. The truth is that building or reconstructing a facility will help you come up with a facility that will perfectly fit into your overall business goals and vision.

e. What are the Ongoing Expenses of a Waist Trainer Business?

Rent and lease
Supplies and inventory (materials, sewing supplies, packaging supplies et al)
Utility bills (internet subscriptions, phone bills, signage and software renewal fees et al)
Maintenance of machines
Salaries of employees

f. What is the Average Salary of your Staff?

Chief Executive Office (President) – $55,000 Per Year
Factory Manager – $35,000 Per Year
Merchandise Manager – $32,630,000 Per Year
Waist Trainer (Shapewear) Designers – $32,000 Per Year
Accountant (Cashier) – $30,500 Per Year
Marketing and Sales Executives – $28,000 Per Year
Tailors (Waist Trainer Makers) – $26,100 Per Year
Customer Service Executive – $26,000 Per Year
Security Guard -$24,000 Per Year

g. How Do You Get Funding to Start a Waist Trainer Business

Raising money from personal savings and sale of personal stocks and properties
Raising money from investors and business partners
Sell shares to interested investors
Applying for a loan from your bank/banks
Source for soft loans from your family members and friends.

Write a Business Plan

a. Executive Summary

Daniella Signature® Waist Trainers Manufacturing Company, Inc. is a US-registered waist trainer manufacturing business that will be located in Passaic, New Jersey. We have been able to lease a facility that is big enough (a 20 thousand square foot facility) to fit into the kind of standard waist training manufacturing company that we intend to establish.

Daniella Signature® Waist Trainers Manufacturing Company, Inc. will be involved in the manufacturing of a wide range of waist trainers. We are set to service a wide range of clientele not just in the United States of America, but also in all parts of the world.

b. Products and Service

Regular waist trainers (mass production)
Customized (handmade craft) waist trainers
Luxury and high-end waist trainers

c. Mission Statement

Our goal is to establish a highly successful business that manufactures waist trainers and whose trademark will be recognized in all the main cities in the United States and internationally.

Vision Statement

Our vision is to create a brand that will help ladies achieve the shape they desire.

d. Goals and Objectives

The goals and objectives of a waist trainer business are to produce different types and designs of waist trainers for ladies.

e. Organizational Structure

Chief Executive Office (President)
Factory Manager
Merchandise Manager
Waist trainer Designers
Accountant (Cashier)
Marketing and Sales Executives
Tailors (Waist Trainer Makers)
Customer Services Executives
Security Guard

Marketing Plan

a. SWOT Analysis

Strength

Ideal location for waist trainer production business
Highly experienced and qualified employees and management
Access to finance from business partners
Excellent customer testimonials.
A wide range of waist trainers (unique designs and styles)

Weakness

Financial Constraints
A new business that will be competing with well-established brands, especially from China and other Asia countries.
Inability to retain our highly experienced and qualified employees longer than we want.

Opportunities

Online market, new services, new technology, and of course the opening of new markets
Shapewear is becoming more acceptable
Changing fashion trends and an increase in demand for premium fabrics globally
Increase in the number of ladies who want to enhance their shape within our target market area (rising consumer spending on body-shaping products).

Threats

The arrival of a new waist trainer manufacturing business within our market space
Unfavorable government policy and regulations.
Steady wage expenses and increasing prices of gas
Economic uncertainty
Liability problems

b. How Do Waist Trainer Businesses Make Money?

The waist trainer business makes money by selling a wide range of waist trainers (shapewear).

c. Payment Options

Payment via bank transfer
Payment with cash
Payment via credit cards /point of Sale Machines (POS Machines)
Payment via online bank transfer
Payment via check
Payment via mobile money transfer

d. Sales & Advertising Strategies

Place adverts on both print (newspapers and lifestyle magazines) and electronic media platforms
Sponsor relevant community-based events/programs
Leverage the internet and social media platforms like; Pinterest, Instagram, Facebook, Twitter, YouTube, Google + et al to promote your products
Install your Bill Boards on strategic locations all around your city or state
Engage in roadshows from time to time in targeted neighborhoods to create awareness of your waist trainer business
Distribute your fliers and handbills in target areas
List your waist trainer business in local directories/yellow pages
Advertise your waist trainer business on your official website and employ strategies that will help you pull traffic to the site.
Position your Flexi Banners at strategic positions in the location where your waist trainer business is located.
Ensure that all your staff members wear your branded shirts and that all your vehicles and trucks/vans are well branded with your company logo et al.

Financial Projection

a. How Much Should You Charge for your Product/Service?

Generally, the price of waist trainers depends on the type, size, and brand of the product. On average, a waist trainer should cost $10.98 or more.

b. How Much Profit Do Waist Trainer Business Owners Make a Year?

The profit a waist trainer business owner is expected to make will depend on certain factors such as the size of the business, the location of the business, and the quality of the waist trainers. But on average, a waist trainer business owner is expected to rake in over $120,000 annually.

c. What Factors Determine the Amount of Profit to Be Made?

The capacity of the waist trainer business
The location the waist trainer business is covering
The management style of the waist trainer business
The business approach of the waist trainer business
The advertising and marketing strategies adopted by the waist trainer business.
The number of years the waist trainer business is in business

d. What is the Profit Margin of a Waist Trainer Business?

The average waist trainer business makes a small profit on all its goods; typical margins range from 10 percent to 20 percent. Therefore, the income you would be making would depend on the monthly sales you make and the costs you have to pay to run your company.

e. What is the Sales Forecast?

First Fiscal Year (FY1): $540,000
Second Fiscal Year (FY2): $850,000
Third Fiscal Year (FY3): $1.5 million

Set Up your Shop/Office

a. How Do You Choose a Perfect Location for Waist Trainer Business?

The demography of the location as it relates to the number of ladies in the location
The demand for waist trainers in the location
The purchasing power of businesses and residents of the location
Accessibility of the location
The number of waist trainer businesses in the location
The local laws and regulations in the community/state
Traffic, parking and security et al

b. What State and City are Best to Open a Waist Trainer Business?

New York City, New York
Los Angeles, California
Dallas, Texas
Las Vegas Nevada
Miami Florida
Washington DC
Columbus, Ohio
Oklahoma City, Oklahoma
Chicago, Illinois
Boston, Massachusetts

c. What Equipment is Needed to Operate a Waist Trainer Business?

These are some of the machines, equipment, and tools we would need to start our waist trainer business;

Industrial sewing machines
Pattern makers for crafting designs
Scissors
Hole punchers
Straight and curved rulers
Pencils
Measuring tapes
Notchers for marking seams
Pins
Sloppers
Dotted pattern paper
Sewing machine needles
Hand sewing needles
Threads
Sketching books
Draping tools
Stick pins
Muslin
Style tapes
Leather shears
Soft lead pencil
Marking pen
Pattern plotter
Pattern-making software
Computer
CAD tools for designs
Digital drawing tools
Digitizer board for pattern scanning
Heat transfer machines
Print tables
Hangers
Labels and Tags
Packaging materials
Supply of waist trainer materials

Hire Employees

When it comes to hiring employees for a standard waist trainer business, you should make plans to hire a competent chief executive officer (president), factory manager, merchandise manager, accountant (cashier), marketing and sales executives, tailors (waist trainer makers), waist trainer designers and security guard.

Launch the Business Proper

No waist trainer company presently opens its doors for business without first planning an opening party to formally introduce the brand. If you have a limited budget, you may want to hold a soft opening party. If not, you can host a grand opening party to which everyone is invited.

By properly launching your waist trainer business, you will let residents of your community know that you are open for business.

a. What Makes a Waist Trainer Business Successful?

Choose a good location and showroom facility to launch the business
Make sure your waist trainers are unique and the finishing is topnotch
Throw an open house grand party before officially opening the waist trainer business
Be deliberate with your marketing sales approach
Encourage the use of word of mouth to promote your waist trainer business
Leverage all available online and offline platforms to promote your waist trainer business

b. What Happens During a Typical Day at a Waist Trainer Business?

The production factory is open for the day’s work
The facility is cleaned and well-arranged
Factory swing into action (production of waist trainers)
Deliveries of orders are made
Machine maintenance
Marketing and administrative works
Stocks are taken and reports are written and submitted to superior officers
The business is closed for the day.

c. What Skills and Experience Do You Need to Build a Waist Trainer Business?

Good waist trainer design sense
Excellent tailoring and waist trainer-making skills
Excellent customer services skills
Interpersonal skill
Accounting and bookkeeping skills
Business management skills
Work experience in a waist trainer manufacturing environment
Experience in managing people
Experience in business administration.