Money Matters: Financial Advice For New Fashion Designers
Breaking into the fashion industry requires more than just a passion for clothes and aesthetic skills.
While talent and artistic ability are crucial for new and budding fashion designers, funding is just as important.
How much cash do new fashion designers really need to launch a clothing brand? Simply put, there’s no one-size-fits-all answer. Depending on the type of product you produce, the overall development and production cost may vary widely.
For example, designing and manufacturing wedding dresses will cost more than children’s wear products.
Your first step is to figure out your budget. Along with a budget, create a production timeline as well. This will help you prioritize and monitor your expenditures.
Designing Apparel On A Budget
These simple factors can help you effectively design your clothing line, without breaking the bank:
- First off, find a domestic apparel manufacturer Los Angeles that understands your creative vision. A successful designer-manufacturer relationship leads to the creation of a quality product. Discuss your budget with your chosen manufacturer.
- Select a garment manufacturing company that offers complete design, development and production services under one roof, including pattern making, fabric sourcing and sample making. This will help you save money in the long run instead of hiring multiple vendors.
- Before meeting a manufacturer, you must research your product and target audience. Give some serious thought to the fabric, color, shape, etc. you plan on using. Is there a specific audience you would like to target? This will make it easier to explain your design ideas to the manufacturer. Sketch out all of your ideas.
Apparel Production On A Budget
Controlling the cost of apparel production isn’t easy. But, these practical tips can help you plan your costs more intelligently:
You may be tempted to opt for large batch production. However, it’s often better to be conservative in the beginning. New and small fashion brands should stick to fewer units. You can reorder more units after selling the initial inventory.
Also, limit your collection to a few great styles in the first season. You can gradually increase your production the next season.
In order to minimize the risk of customers not liking your product, encourage customer feedback in the product development stage. Social media is the most effective and economical platform to connect with customers. You can remove designs or styles that they don’t like.
Different factors affect the total production cost. These include the cost of raw materials, supplies and production service. Pattern making and sewing can take up a huge chunk of your budget. Ask your factory for a complete breakdown of the pattern making costs.
As mentioned above, social media is a great platform for spreading the word about your brand. Not only this, social media can help you find your target customers and connect with them.
If you’re looking for a one-stop source for apparel design, development and manufacturing, Lefty Production Co. is your go-to source.
With years of experience and expertise in the fashion business, we simplify and streamline apparel design and manufacturing for new and established designers. From apparel pattern making and sample making to product marking, grading and sewing, check out our services online.