Own Fashion Brand – is always a dream of every fashion designer to set their own fashion brands/ fashion line. But, how difficult it might become to set up all by yourself..?
Not to worry following a few simple steps and jotting down on key actions makes the whole process more organized and simple.
1.Jot down the basics
- Make a solid business plan: Write down, can’t stress on this enough. Writing down and seeing your plan creates a good impact on the development of the process.
- Be sure to be realistic: It’s always better to underestimate your profits and enjoy the pleasant surprise when your business starts doing well. Draw a time map of works to make sure not to miss any important tasks to be done.
- Decide on your numbers: Count in every single small and big thing and calculate the amount of money you need to invest in this. Basic costs include infrastructural costs like phone, internet services, invoicing software, marketing and advertising costs, wages, etc.. Consider getting in investors and set ratios of investment.
- The breakeven point: Breakeven point is when your investment is completely returned. Calculate the amount of time you would need to reach the breakeven point. And also see if you can survive decently without any income un till that point of time.
- Do market research: Conduct surveys, go into the market directly, talk to the customers also try to talk with your competitors and understand their business plan too. Understand the point where they are missing out and you get the best out of that.
- Clear all legal obligations: Get all the permissions and papers done. Fulfil all the legal requirements. No one wants to have any hurdles in there smooth going business, right..? You might need a taxi ID, a business license and business bank cards for heavy cash transactions. You may also consider hiring a lawyer to either act as a consultant or be available as a retainer.
2. Starting off with the mains
- Make teams: Don’t be afraid to form a small team. It would be very intimidating to do everything on your own and chances of doing mistakes can be high. Think about the kind of assistance you might need and hire accordingly. Try to get budding designers as interns which can also be light on your pocket.
- Set a brand: let your name be more heard. Start campaigns on all platforms. Choose a catchy brand name and define your business clearly. Don’t keep your viewers in an ambiguous position.
- Design a logo: your customer’s start identifying you seeing your logo by now. So design a simple yet meaningful logo that remembers of you to your customer. Also, make sure that you don’t violate any patent rules.
3.Design your products
- Get inspiration: Find your ideal fashion brand or a line that is doing really well in the market. Study the work they are doing and try to analyse the whole market situation. Design your clothes accordingly.
- Keep updating: In this age of fashion trend where everything is changing so rapidly, being updated with these is really important. So, follow a few journals and fashion icons and observe their costumes to be on track. Also try to fill in the blanks, see where fashion lines are missing on and you try to create exactly same thing that is needed.
- Get your tools and place ready: Even though renting or buying a place can be a costly affair, getting the right place can be very advantageous. Find a place that meets all your needs and priorities. Set up your gear. Buy machines, scissors, thread and all other things you might need to start off.
4.Plan your marketing strategy
- Observe the market: Learn how other fashion lines are marketing. Know how your competitor’s are marketing and find the key points on which they are losing and you just kick on those points.
- Make your online presence: In this digital world, marketing any kind of product on a wide range without digital presence would almost be impossible. First things first, design a logo, describe your brand’s identity. Create blogs, social website pages and keep posting consistently. Teach people about your brand and also fashion in general. Hire a digital marketer if all this process seems to be intimidating to you.
- Create a sales plan: write down the step-by-step procedure you want to follow for your marketing. Follow the season trend, like offering referral offers, scratch cards, percentage offs etc.. Also, send monthly fashion update letters via email so that your customers will be in touch with your fashion brand.
- Affiliate-Spread the word: Try to get in touch with the companies and people who can promote your business. Fashion icons, social influencers, bloggers, vloggers can spread a word about your work to amass easily.
5. Finally, sell it
- Conduct events: Plan fashion shows, even though this involves a lot of money, you can reach a lot of people of fashion industry easily. Sponsor to people who are more visible, i.e., sponsor clothes to anchors, social influencers and others who are most viewed in different platforms by consumers.
- Make ordering easy: Provide an easy process through which even a layperson can order for your products easily. Also, make sure payment options are wide and secure.
- Be a model for your own fashion brand: Wear and click on your own clothes and publish them in websites and other places explaining about the stuff. Also, ask your customers to review the product and make the reviews available online.