So, you want to start your own fashion design business but where do you start? How much money do you need? What does it all involve? Here’s a quick guide to getting your garments off the ground.
Considering the cost
Like any start-up business in its embryonic stage, you have to put in to get out; this applies to your money, time and resources. You might have an expansive creative vision, a solid business plan, even valuable industry connections, but, ultimately, all businesses need some form of financial backing to lift off. Carefully consider where you will need to invest; will you need to hire staff on a regular basis? What about renting an office space? How will you fund the actual production costs of your collection? Unless you have a never-ending supply of cash, you’ll need to make sacrifices elsewhere. This could mean working in your usual employment to save up whilst dedicating your evenings and weekends to your fashion dream.
A stand-out brand
One of the most important aspects of developing a fashion line is the branding. What makes your garment unique? Is it filling a gap in the existing market? Does it reflect your personality and ethos? Does it encompass a strong identity? These factors will ultimately make it more sellable and desirable to an already over-saturated industry. Establishing your niche market and effectively articulating your designs will give your start-up the leg-up it needs.
Cutting corners
Although starting your own fashion design business can be a daunting prospect, there are nifty ways to cut corners in terms of your financial outgoings and branding campaign. Indeed, there are a number of crowd-funding websites such as Kickstarter that enable you to enlist the financial help from the public. If you’re the creative type that doesn’t have a clue about how taxes work, why not employ an umbrella company to do the work for you so you can use your time more effectively? Additionally, take advantage of the digital age; you don’t necessarily have to pay someone else to market your products thanks to social media. Consider designing your own work in-house, make the garment samples yourself and source the fabric rather than outsourcing professionals. Hire freelancers rather than investing in full-time designers for ultimate flexibility. Finally, don’t be too ambitious in the beginning by casting a wide net with a whole range of garments; pick a few key pieces before expanding your collection.
Selling your stock
Be inventive about where to sell your products; for instance, you could start off by selling your clothing via an online platform like Shopify or Squarespace, which allow you to create customized websites at relatively low costs. You could also set-up an online boutique via existing online stores such as Etsy and Asos who can boost your exposure (N.B. it’s important to remember that you’ll usually have to pay a monthly fee for the privilege in addition to a commission percentage on sales).
When your revenue is flowing, branch out your brand in bricks and mortar by setting up shop on the high street. Ultimately, you’ll have to work like a dog in the beginning but it’ll be so worthwhile when you see your beloved designs on the catwalk!
