One of the best ways to ditch the 9 to 5 schedule and work for someone else is to actually create your own business. There are many benefits from that, you work whenever you want, you make all the decisions, and you constantly focus on growth and success. With that in mind, there are all kinds of business ideas you can use, with the hat business option being a very good one. Creating a hat business helps quite a bit, since it’s easy to get into, and with the right planning, you can make it work. It still takes a little while to create and manage everything, but it has the potential to be well worth the investment.
Figure out the hat types you want to sell
Before you create your own hat business, you must figure out the type of hats you want to sell. Do you want to sell simple hats without a logo? Do you want to sell branded, customized hats? Or will you come up with your own designs and you need a hat manufacturer to handle all of that? Every idea matters, and it will give you an insight into how to run your business and what you can expect in a situation like this. The more you focus on it, the better the results will be.
You need research to see what type of hats are in demand and what type of clients you can sell your hats to. The truth is that this might take a lot of time, but it’s essential since you figure out who is your client base and that alone can be very well worth the effort.
Common Hat Types: cowboy hat, dad hat, straw hat, knit beanie hat, baseball cap, birthday cap, bowler hat, bucket hat, captain navy hat, Christmas hat, funny costume hat, snapback hat, Fedora hat, top hat, witches hat, church hat, etc.
Finding a name for your hat business (and buying a domain for it)
Once you have an idea of what type of hats you want to sell, you need to figure out a name for your business. Ideally, you want to be sure that you come up with a simple, catchy name that also has a free domain you can buy right away. The truth is that you need a website that matches your company name for proper branding, so you do want to be 100% sure that you have everything you need for branding. At this time you also want to create a simple logo for your business, or you can leave it for later on during the process if you want, that’s up to you.
Identify a Hat wholesaler that works with you
If you create an online hat business, then you don’t have to create those hats yourself. What you need to do is to find a wholesaler, a company that creates hats for you and which also ships them to the customers. You can also have a hat business like YaoHat creates hats and then ship them to you, but that means you need to have storage space yourself. That might be trickier to pull off, but certainly is something possible that everyone can do, with the right tools and ideas. With that in mind, you do need to make sure that you pick the right hat manufacturer.
YaoHat has a lot of experience in the hat business, they have been manufacturing hats since 1996. They can easily create hats like cowboy hats, straw hats, fedora hats, costume beanies, golf hats, snapback hats, and many others. As a result, you have access to a team of experts that already know what they are doing and which will provide you with a very good return on investment.
If the hat manufacturer can ship those items to customers, that’s amazing. Otherwise, you either have to find an intermediary that will do that, or you have to store the hats and ship them yourself. Still, Yao Hats provides these products at an amazing price, so you can easily make a profit even if you store them yourself. That means you need to buy dedicated storage space, and that might increase the running costs of your business.
You also need to handle the legal side of your business too. What we mean by that is actually create either a C or S corp, or a LLC as needed. You also want to secure any permits and insurance. If you just work with a wholesaler and don’t create the hats yourself, then you don’t really need any permits, and insurance for an online-only business isn’t really required.
You do want to start a business account at your bank where you can pour all the money you get from your sales and which you can access whenever it’s needed. Based on your business size, banks will come with specific features and benefits, so you have to keep that in mind.
Think about the startup costs
If you have an online hat store, your costs are pretty low. You just need to rent an office (or even use your home as an office), then you have to pay for a domain name and hosting yearly. On top of that, you also need to pay for internet costs and utilities. Whether you choose to hire someone to manage sales and so on, that’s up to you. But it’s always a good idea to take your time and assess the situation as you try to obtain the best results. Adding these up will show that a hat business is not that expensive to run. It’s quite affordable, and with the right decisions you can make it work very well. Just try to take that into account, and you will be just fine.
Design the website
Once you acquired hosting and a domain name, you must create the website design and start selling. It’s possible to just go with whole in one solution like Shopify, as you don’t have to buy a domain name or hosting separately. Or you can have your own approach and buy a domain name with hosting, install an ecommerce solution like Magento or WooCommerce and then start selling.
The first thing you want to do is to find either a theme or a design you want to use. Ideally, you want to go with a theme since it’s pre-made and you don’t need to have any programming or coding knowledge. Thankfully, Shopify and all the other platforms have their own marketplaces filled with teams. Of course, you can still hire someone to create a theme for you if you want. The options are definitely there, you just have to figure out what works for you and which approach is better in your own situation.
Try to make your hat business website custom, unique and different. The truth is that no one will buy from a website that looks strange and not that appealing. We all want something that’s different, so innovative website designs, cool sliders, impressive visuals will attract customers.
Add high quality images for every product page
The truth is that we all want to see what we are buying. Yes, high quality images or even a video per product will help a lot. It’s important to know what you can expect and what type of product you buy as a customer. This is why whenever you design the hat business website, you want to show off all these things. High-resolution images for every hat you want to sell is a must-have. In case you can also integrate videos, that will take things to the next level and it will be well worth the effort. Remember that the more work and commitment you add here, the better the payoff will be in the end. Yes, this is not easy and it does take a lot of time, but in the end, you will be happy with it and that’s what matters the most.
Advertise your hat business
Once you have the website set up, products added to it and everything is good to go, you need to start advertising your hat business. A good starting point is to find influencers that are in the world of fashion. These people can be paid to feature your products, and they can be a great way to reach an audience. On top of that, you also want to use Google and Social Media ads. These are great because you can easily choose your target audience and these ads can appear while they browse search engines or social websites.
It’s also a good idea to create a blog for your website where you share these products, talk about them and link to the product page. You can also have guests posts on fashion websites and blogs where you share your products or just a link to your store. Banners, mailers and forms can also come in handy as you try to promote your hat business to customers.
Handle your taxes and finances
We recommend you to hire a good accountant that will help make sure you manage your income and prepare your taxes properly. This is not easy to do, and it can lead to a vast range of demanding challenges and situations that might arise. A good rule of thumb here is to have an accountant and lawyer, as they can help you set up your business and also run it properly to avoid financial issues.
Setting up a great hat business is not that hard. With the right solutions, you can make this work in no time. It does take a bit of a trial and error to make it work, but the truth is that creating a great hat business can be worth your time and effort in the long run. We recommend you avoid any rush to set your business up properly and then ensure that you find the best hat manufacturer like Yao Hats to offer you outstanding products for your customers. Then you can start selling and properly managing your business. The hat industry is huge, people love buying cool hats, so setting up your hat business can really help you generate plenty of income in no time!