Garments Buying House in Bangladesh is an essential role of the garments business in country. Bangladesh is the Second Largest Ready Made Garments exporting country in the world however, most of the buyer coming from foreign country that’s why directly production monitoring, quality assurance, price competitiveness are not possible to handle for buyer. Garments Buying House plays the role for buyer of monitoring the garments quality, productivity, competitive cost, lead time of shipment and others by conducting a commission agent of buyers. Most of the time foreign buyers do not want to contact directly with garment factories for order, they like Buying House to procure the garments products for them in manufacturing different garments factory in Bangladesh.
At present, around 7,000 garments (mostly followed compliance) factories and nearly 2,500 small factories are working in 100% export oriented Ready Made Garments sector of Bangladesh. There are also working around 1,000 buying agents (Garments Buying House) in this sector. Bangladesh garment industry has generated $28.09bn exports in the fiscal year 2015-16 with a 10.21% growth from the previous year, according to Export Promotion Bureau data. The total figure of exporting, the knitwear contributed $13.35bn and woven products $14.74bn respectively. In recent days, sufficient backward linkage industries have been made for this industries trims & accessories that are produced around 95% of total demand for the ready-made garments sector into the country.
How to work a Buying House
Garments Buying House has a cluster of talent, enthusiastic and energetic work force to do the challenging job. Basically, Buying House does as group work like merchandising, Quality Assurance and technical team. Merchandising department is very much busy about sourcing of materials, providing approval to suppliers, sample development from supplier factories and maintained liaison within buyers and suppliers, also calculate effective cost consumption of products for competitive clothing market. Technical team involves of preparing new design of buyer wants and developing products and sample and also helps primary cost consumption of the garments. Quality Assurance team always busy how to finish the works in a certain time and step by step monitoring the productivity and ensuring excellent quality of finish goods by following merchandising departments needs. Generally, Buying House takes certain commission from buyer, monitoring factory works and shipment of finished goods by following code of conduct of the business agreement between buyer and factories.
How to set up Garments Buying House in Bangladesh
The Garment Buying House is one of the pivotal parts of the garments business in Bangladesh because of buyer contract with buying house for manufacturing their products. If single entrepreneur wants to establish a Garment Buying House, must be needed Trade License, Garment Buying House association membership certificate, Export Registration Certificate (for exporting goods to global market) and VAT Registration Certificate for opening the business. Generally, two or more entrepreneurs jointly set up buying house business, at this stage needs Partnership Firm Registration or Company Registration from RJSC; The RJSC (Office of the Register of Joint Stock Companies and Farms) is only Govt. Authority for Company Registration in Bangladesh. Forming a Joint Stock Company in Bangladesh, there are gathering various knowledgeable people in doing better business for Buying House.
Foreign entrepreneurs are worm welcome to invest of Buying House business; there are acceptable to establish 100% foreign owned company by establishing the Foreign Company Registration at RJSC (Known as local company of foreign investment). There is also possible local and foreign entrepreneurs can set up limited company which is formed by a Joint Venture Company Registration in Bangladesh. After getting Incorporation certificate (company registration certificate) all documents are needed here same as like single entrepreneur operating Garment Buying House business in Bangladesh.
