The document discusses creating a custom clothing startup called DIYA Custom Clothing Pvt. Ltd. It describes how custom clothing is gaining popularity and offers room for long-term growth. It discusses conducting a feasibility analysis, including how the business idea is economically feasible and meets technical and legal requirements. It also discusses obtaining funding, marketing strategies targeting potential customers, examples of successful and failed startups to learn from, and preparing a summary report on the custom clothing business.

1. Project
entrepreneurship & business idea for a startup
BY : Prince Raj 2923
Meghdeep Goldar 2901

2. Create custom clothing
SELLING CUSTOM CLOTHING OR OFFERING A
TAILORING SERVICE COULD BE YOUR WINNING
STARTUP IDEA. THE CUSTOM CLOTHING
INDUSTRY IS GAINING POPULARITY AND OFFERS
ROOM FOR LONG-TERM GROWTH.
DIYA CUSTOM CLOTHING PVT. LTD.

3. Discuss the position of entrepreneurship in India
Entrepreneurship is vital for job creation, economic growth and problem-solving.
It also reflects a society’s capacity for boldness, risk-taking and creativity. More
specifically, according to the Global Entrepreneurship Development Institute
(GEDI), there is a strong positive association between entrepreneurship,
economic growth and innovation.
How does India fare? India’s performance is important given the priority of
the “start-up India” initiatives and the crucial role of entrepreneurship in
generating jobs in a stagnant Indian labour market.

4. India’s performance as per the GEDI index
According to GEDI, India is ranked 68th out of 137 countries, a “middling” performance. As per
the Asia Pacific region, India is again in the middle position, 14th out of 28 countries. The leading
regional players are Australia, Hong Kong and Taiwan at first, second and third positions
respectively. It is noteworthy that India falls below China (9th) and more established regional
economies such as Korea (4th) and Japan (6th) in the region.
The performance by specific criteria also makes for an interesting viewing. India’s strength areas
where its performance is above its overall score, are in product and process innovation,
internationalisation, opportunity start-up, risk acceptance, opportunity perception and robust
competition in the marketplace. Its performance on human capital is broadly at par with its
overall performance

5. Do a feasibility analysis of your project /business
Economical feasibility: Whether a project is feasible or not can depend on several factors,
including the project's cost and return on investment, meaning whether the project generated
enough revenue or sales from consumers.
Technical skills: Traditional handicrafts industry has been at a stagnant position for long years.
This business idea will give them an opportunity to be back in business & revive the idea of
custom made traditional cloths.
Legal: this business idea has full potential to met all legal guidelines & still operate profitably in
the clothing industry. All gst compliances & business registration will be done thoroughly.

6. What is the socio economic support for your business
that you have chosen
The number of people employed in the clothing industry has been decreasing since 2002.
The biggest decline occurred in the time of global financial crisis between 2008 and 2009, but even a
consequent recovery of the economy in 2010 has not caused an increase of employment in this area
of industry
Specific feature of this industry is that women represent 85% of the people employed. This is a
reason for higher drawings entitlement provided by law, for example, maternity leave, parentalleave,
sick leave, etc.

7. How will you obtain funding for your business Explore all
the options
1. Self-Finance your Start-up Business
2. Finding an Angel Investor
3. Look out for Crowdfunding
4. Apply for Loans under Government Schemes
5. Avail Loans from Private and Public Sector Banks
6. Get Small Business Loans from NBFCs or MFIs
7. Avail Business Credit Cards
8. Peer-to-Peer Lending

8. How will you market your business and who will be your
potential customers
Here are 10 common marketing strategies which my company will use use to reach more customers, encourage repeat business and build
brand loyalty:
Leverage social media.
Start a blog.
Maximize search engine optimization (SEO).
Create a call to action (CTA).
Engage influencers.
Build a mailing list.
Create an affiliate program.
Engage customers with chat.
Host webinars.
Develop customer personas

9. Discuss any successful start up
Flipkart was founded by Sachin and Binny Bansal in 2008 with a sum of $6,000 (INR 4 Lakh). It went on
to become one of the largest ecommerce startups in India and is now valued at a whopping $20 Bn.
Flipkart has had many a milestone in its decade-long journey, one of the biggest being the $16Bn
investment by Walmart making it the largest ecommerce deal in the world, and since then it has also
burgeoned its payments business with a sharper focus on PhonePe, which has grown into a unicorn by
itself. Of late, Flipkart has been diversifying its operations by getting into the OTT space with Flipkart
Videos and food retail business with Flipkart FarmerMart.

10. Discuss any start up that failed and explain
reason as per your understanding and research
Finomena
Industry: Fintech
Students are the new target audience when it comes to offering small loans. Acting on this,
Finomena came out with an app that provided ‘EMI without cards’. The aim was to allow students
purchase mobile phones and other electronics on a loan. In March 2016, Finomena raised its seeding
funding and then made quick strides before going down in 2018.
Reason for failure: Finomena is counted amongst those Indian startups that failed unexpectedly
despite having enough funding. It was a fintech startup that focused on providing loans, a segment
already dominated by the established players before its entry. Fierce competition from rivals
like ZestMoney was the major reason behind Finomena's failure. Also, burning cash where it was not
needed was another cause. Before you launch your startup, check if the target segment has has
reached its saturation levels. Also, use your funding wisely!

11. Prepare a summary report on your
business
My business idea is unique but the industry is old. So definitely we are going to add new values
to the life of our potential customers. In this age of social media every people wants to portray
themselves very unique & want to have different appearance from others. So here at imagine
custom clothing we will design & manufacture custom designed clothes as per customers need.
We are into direct sales without any intermediary for distribution & sale thus reducing cost of
operations. We hold inventory as per cx needs for customization thus preventing locking up
capital for surplus stocks of inventory. Our team is passionate enough to pass the hurdles
coming on the way & finally converting It into a successful venture.