How to start a Textile Store in Dubai

How to start a Textile Store in Dubai

Dubai is a unique destination that is both a dynamic business centre and a tourist paradise, offering more attractions, shopping, fine dining and quality hotels.If you love crafting or sewing and want to start your own business, a fabric store business could be ideal for you. These businesses range from really large chain stores that sell all sorts of fabrics that the average seamstress uses to small, local stores that cater to one or two particular types of fabric customers – perhaps wedding dress makers, quilters, or costume designers. Before you jump into your new business, take this advice on how to start a fabric store business in your area:

Research                             

It’s vital that you start with great research about how to start and maintain a textile store business. One thing you’ll want to figure out first is what businesses are already available in your area and what types of fabric store customers you might have.. Some ideas for a smaller, more selective store include a fabric store that carries mainly designer quilter’s cottons, a store that specializes in bridal and formal fabrics, including gorgeous laces you can’t get at chain stores, or a fabric store that specializes in upholstery and drapery fabrics.

Besides just figuring out your niche, though, you’ll also need to research a few other things for your business:

• How much will it cost to start your business, including renting space for your business and purchasing your first supply of fabrics?
• Once you know how much your business will cost, what are your funding options? Do you have cash in hand? Can you apply for a small business loan or business credit card?
• What can you do to promote your business? Could you run specials when you start your store? Have you considered offering crafting and sewing classes to attract new clientele?
• What would your options be for selling online? In some cases, it might be better to start an online fabric store and then move into a brick-and-mortar location once you start making some money.
• What types of licensing will you need for your business at the federal, state, and local levels?
• How will you take care of business accounting? Will you hire someone to do it, or will you do it yourself?

If you aren’t sure where to find the answers for some of these questions, contact your area’s Small Business Administration. They usually host seminars or offer one-on-one counseling for new local entrepreneurs.

Step 2: Find your fabric: How to start a Textile Store in Dubai

Start contacting vendors and manufacturers about the types of fabric you want to carry. Be very careful about purchasing high-quality goods and getting a wide variety of different fabrics, notions, and patterns for your store. Also, come up with a good pricing scheme for your fabrics. How much will you mark them up over wholesale to cover your costs and make a profit?

If possible, you might want to look into some unique outlets for fabric, as well. For instance, see if there are local artisans in your area who specialize in weaving textiles or hand dying fabrics. These fabrics can sell for $50 or more a yard, but they can make a nice addition to your business to round out your regular fabric offerings.

Step 3: Setup financing and cash flow management

Even if you don’t need a small business loan because you already have the capital to start your fabric store, you might want to consider applying for a small business credit card. A credit card can help you make secure online purchases, set up recurring charges so you can make sure they’re paid on time every month, and can even get you some excellent perks, including cash back on certain purchases.

Step 4: Start advertising

Whether you’re operating online or in a brick-and-mortar store, you’ll want to start advertising your small business as soon as possible. Letting people know when your store is going to open and what opening sales and deals they can expect is a great way to make people more aware of and excited about your business before you even get started.

Social media marketing is essential to any start-up business these days, so start a Twitter account and a Facebook page for your new business so you can connect with potential customers online. This is especially important if you’re starting an online only business, but it’s even very helpful for local stores, since social networking can help you connect with potential customers in your actual area.

Step 5: Setup shop

Once you’ve gone through all the above steps, it’s time to set up shop. Whether you’re marketing solely locally or online, or doing a combination of both, this process can take some time. In a brick-and-mortar business, it’s all about location, so set up your store in a busy area where lots of traffic passes by. Online, it’s all about getting your website noticed by search engines so you’ll get more search engine traffic, so talk with a web professional about helping you create the perfect website for your business.

After your shop is set up and the grand opening is completed, you’ve just got to learn to run your business.

Quick Recap: How to start a Textile Store in Dubai

Before starting a garment business you have to first concentrate on few important points which include:

1. Capital Resources- Having a reasonable capital for starting a readymade garment business is important. This will help you to gain more confidence and commit yourself into business dealings.
2. Location-It is always better if you begin your business with wholesale garments. Choosing places like malls, markets would help you attain more attention and you can also interact with different customers of different taste.
3. Government procedures: getting an employment identification number is essential.
4. Legal formalities-The legal formalities in a business may differ according to your place of stay. It is essential that you first give a name to your company and approve it before incorporation.

1. • You can file the application form with the registrar of the company and provide the name and the address details to the registrar.
   • Director Identification Number is important for Directors
   • The directors must get a DSC (Digital Signature Certification) for all the professionals or other authorized representatives.
   • The Memorandum and the articles need to be stamped. It depends on the authorized share capital.

5. Documents required to be filled: The directors have to fill in few documents which include Memorandum, Power of attorney, tax compliances, Bank details, Insurance etc.
6. Quality and Design-Try to provide unique design and best quality of products that satisfy the requirements of the customers.
7. Target the customers- Use the technique of targeting the customers according to their age, taste and style.
8. Research- It is essential that you make a long research in order to find the best garments in fashion at this period.
9. Once you are fine with the above mentioned points, you have to start promoting your business by giving advertisements etc.

VAT IN UAE: : How to start a Textile Store in Dubai

Textile industries will pay tax to the government at standard rate of 5%.

The UAE textile industry is the country’s largest trading sector after oil. The textile industry is vital to the growth of UAE’s economy due to its contribution to the industrial output, employment generation and foreign exchange earnings

New metric rules for textile dealers in UAE:

The UAE has implemented the International System of Units (SI) which replaces Imperial measurements such as foot, inch and yard with the metric system in the textile trade under the national system of measurement and calibration, the Emirates Authority for Standardisation and Metrology (ESMA) said.

Metre replaces yard from January 1 as part of regulator’s efforts to protect consumers’ rights. Textile dealers are being asked to measure up to new rules imposed by authorities on January 1 2018.

Reach Accountant understands your needs better than anybody would do,.

The software is specially designed to suit textile industries keeping in mind complete work flow of the operations and management level as well. It tracks all your departments activities and reduces time consumption as it ensures employees efficiency rate by tracking their work progress leading to better cash and work flow. It not only manages your VAT and account to but is a complete software that evaluates all your business requirements and improves your and business yield proving itself as an efficacious software which makes it one of the best textile store software with VAT in UAE.

How is it different?

• Understands each business type in a way it is required
  • Tracks all your departments and employees
  • Allows you to a cess your business from any where and any device
  • It comes with anti virus
  • Has bank level of security and also comes with accessibility control menu
  • It has easy data backup, therefore, there is no worry in case of system crash
  • Improves your business performance
  • Helps you in maintaining better customer relationship
  • Has a huge number of features
  • Easily integrates with any existing software
  • Can be customised easily and is easy to implement
  • Is a very powerful software yet very easy to use

Features

Business Intelligence Dashboard:The software has a feature of  providing you key statistics of the business at any given point of time.The dashboard displays work status, profit and loss, expenses graphically.It also features  best Selling Executive, Highest Selling product, Largest value customer for the month. Every night the client gets a SMS summing up the entire sales , expenses ,case production ,and stock value for the day.

Abide by to Regulatory Compliance: The whole industrial operations   are governed by existing country rules .Non compliance and violation of law may lead to cancellation of the license to operate the business.ERP software are embedded with laws and regulations of the country, ensuring and guiding business is carried out according to the  prevailing laws.

• Accounting Management: All functions relating to accounts are inbuilt with the software. You can manage your Accounting Ledgers, Bank & Cash Operations, Purchase & Sales Estimates, Warehouse Allocations, Expense Recording, Expense Grouping, Payments – Part or Full, Journal Entries, Income and loss a/c, Balance sheets, Receipts – Part or Full, Contra Entries, Financial Reports, Day book.

• Tax Management: Our accounting Software automatically calculates the taxes relevant for every bill created. The Software is designed as per the government norms for calculation of VAT. It also has the option to add any number of taxes relevant to the business. In case of change in tax percentages a change it in the software on your own. All you have to do is add your tax percentage and our software will calculate the taxes automatically. This multiple tax scheme can also be applied to multiple products on a single purchase.

• Income Management: The Company can create Quotations then the same can be converted as a Sales order or Pro-forma invoice or Invoice. From Invoice you can create Receipts as well. Accountants will be able to know what payments have been received and what are pending in the reports. You can also set reminders for receiving payments.

• Expense Management: You can create Purchase Orders then the same can be converted as bill or payments. You can also create Debit notes for purchase returns. Accountants will be able to know which purchase bills have been paid and which are pending in the reports. You can also set reminders for making payments.
• Invoicing: Generates VAT compliant invoice of the company in the specified design as requested by the client or can choose from the available templates in the software. It also converts quotes to invoice .One of the features is the software can convert the Foreign currency invoices to base currency and further calculating the VAT at UAE standard rate.

·         Print Tax Invoice In Arabic: Reach software lets you print invoices in Arabic, English or both, as per the mandated guidelines of GAZT and FTA.

• Auditor View: Full-fledged Financial reports, Tax reports VAT reports, read process by auditor, with e-filing options, PF & ESI Reports, Tax Consulting Modules are some to be named.
• Check Post for VAT returns: As the software has been designed exclusively to aid individuals and entities to be VAT compliant in UAE, the set of rules and regulation laid by FTA (Federal Tax Authority) of UAE are embedded in the software. Hence any process error will be popped up by the application can be viewed .For instance wrong Tax Registration Number, incorrect taxable figure, wrong taxation period.
• Automatic Update on Tax legal Sections: As the Reach software are cloud computed software gets upgraded to update any revised tax laws and section if any in future.
• Computation Of VAT Returns: The software is inbuilt with all the detailed crucial information  on tax computation Tax Assesee can  fetch all the details of all the taxable transactions It lists down transactions which are included and excluded in the VAT return  calculate input tax, reverse charge and output tax to avail claim if any 

• Filing Of VAT Returns: The registered businesses in UAE are required to generate the VAT return File from their accounting software, login to the FTA’s e-tax portal and upload the return file. On the basis of the uploaded return file, the e-tax portal will validate the file and accordingly the details from the file will be auto-populated in the online return form. Reach VAT software is designed to ease the process of filing returns and comes under the purview of FTA prescribed set of rules and regulations.

• * VAT Reports etc.
• Calculate VAT automatically.
• VAT support in Sales, Purchase, Sales and Purchase returns, Journal entries.
• Generate Federal Tax Authority compatible tax reports.
• VAT Paid (charged by suppliers) and Vat Collection (Charged to customers) Analysis.
• Transaction wise details of VAT paid and VAT collected.
• Attach every Vendors/Customers VAT number and other details.
• VAT supported for Goods (stocked) and Service (non-stocked) items.
• Online application accounting.
• VAT Account Reconciliation, VAT Collection & VAT Paid analysis report.
• Report export to excel and other standard formats.
• VAT returns statement compatible with Federal Tax Authority standards.

Online accounting VAT software enables you to file vat returns, manage accounts and other business operations from any geographical area be it at the comfort of the house.

Cost Effective:Saves IT cost associated with maintaining,integrating,upgrading separate applications.

Manufacturing Management : Manage the production process such as purchase approvals ,raw materials and retrieve the finished products reports for future references.

Order Management  :Receive the sales order and convert them in to invoice once ready Order management is all about keeping track of orders and managing the people, processes and partnerships required to fill them. It involves keeping track of the order itself and managing data around the customer and finally intimating the customer about the readiness of the product

Goldsmith Outsourcing: Reach Jewellery software also aids in outsourcing the process to other goldsmiths .The software keeps a track of all the orders that are pending with gold smith with details such as old gold exchange, rate of gold per gram, making charges and wastage and date of receipt.

Point Of Sale: Touch and Keyboard billing system.One of the features is the software works even when net is also down.

Barcode and Batches Management: Generates batch codes and barcodes  and reads automatically on a bar code scanner.

Project: Cost Management reflecting cost at every stage of production. Order Management –Used for invoice orders.

Multi Branch: Gives the option of owning the business individually.

Purchases: Purchase Orders/Estimates,Purchase Bills,Purchase Return,Vendor Outstanding Management.

Sales:  Provides  with quotation, operational product, Sales invoice and sales returns ,Recurring invoices in one order and customer balance.

Access: Multi-User operation with restriction menus, Auto Back up ,Accounting Period Auto change ,Any Location operation, Easy to handle ,No hard accounting process and buttons, Auto conversion to accounting formats

Multi Company:Benefit of handling the business operations from the touch of the smart phone.

Auditor View: Full-fledged Financial reports,Tax reports,VAT reports,read process by auditor, with e-filing options,PF & ESI Reports,Tax Consulting Modules

Mobile Application:Business is just a touch away from you. Easy access through tabs,ipads,iphones,android phones.Click pictures of expense vouchers and attach to expenses.Raise invoices, check cash and bank balances,day to day income and expense and other reports through mobile applicatons.

Business Automation: Business expansion by  searching leads suitable for your business profile ,Leads  from mail server,Changing leads to appointments,converting quotations to invoices,

Addons: E-stores, Google docs, Google calender , Project management tools, SMS gateways, Payment Gateways are few to name.

Tally Import: Import excel files   from  tally to Reach software and manage accounts with smooth transitions.

User Friendly: Softwares are designed is such a way that the user will find it easy to operate.

API: The client can integrate the existing software with Reach accounting app,seamlessly.

Pricing

Pricing of Reach software for textile store with VAT in UAE depends on the version of the software, they are, basic and customised. The difference in the pricing is determined on the number of users you are planning to purchase it for as under each version therefore are three categories; single user, five users and unlimited users.
BASIC VERSION
For single user- AED 1800
For five users- AED 3600