Breaking into the fashion industry isn’t easy, especially for young aspiring designers and startup companies.
The industry itself is fiercely competitive. And in order to make a mark for themselves, designers need to understand how the business operates.
Here are some effective planning tips to help startups launch their collection:
Put in total commitment to your work
While many believe that launching a fashion line only requires creativity, being creative is just one part of the business. Business owners need to invest considerable financial and non-financial resources into their collections. In other words, you will have to put in considerable amounts of money, time and effort into making your collection a success.
Develop a business plan
Create a clear business plan. It should highlight major elements of your business strategy, such as general company description, operational overview, products overview (current and future product line) and executive summary.
Make sure your business plan is realistic, easy to understand and execute.
Organize the business
After developing the business plan, it’s time to handle all legal concerns related to your business. From business’s legal name to taxes, consult a professional lawyer to help with these issues.
Set a pricing model
Figure out the business profit margin. Profit comes from making more revenue than initial costs (fixed and variable). Establish retail prices higher than the expenses to ensure profit. Compare styles by profit contribution.
Formulate a marketing strategy
Marketing is important to fashion companies. It is an essential component of business growth. It helps build a brand and boost sales.
Identify your target audience and then select a suitable marketing medium. Nowadays, social media is the most powerful marketing medium for fashion designers. Spread the word about your brand via Facebook, Twitter and Instagram.
Also, create a unique logo for your fashion collection that will grab people’s attention. And hire a professional photographer to take stunning images of your collection.
Choose a garment manufacturing company
Last but not least, invest your money in a reliable, reputable garment sample making company. A clothing factory can make or break your brand. The right clothing manufacturer will transform your design idea into high quality product.
Based in Los Angeles, Lefty Production Co. is a leading clothing and accessory manufacturer in LA. Lefty Production Co. is a one-stop design house, accessories and garment manufacturer and domestic apparel factory for clothing that is Made in the USA.
The company offers full package services, which include fabric sourcing, pattern making, sample making, marking and grading, cutting, sewing, finishing, packing and shipping.
With a goal to provide beautiful products and quality service, we have the expertise to bring your fashion vision to life, right here in the USA.