Featured Posts

Why I still Invest in Apple Let's face it -- most of us are Apple investors. If you deny, look at top ten holdings of any mutual fund that you own. Unlike old superstar stocks of the past -- Intel, Microsoft or Dell to name a few -- there is something unique about Apple. It has brand... Read more

How to Choose a Real Estate Agent in India For India’s vast middle-class, buying a house is a dream come true. Many will save over decades to find one or two properties that are the perfect size, in the perfect location, for a good price. Considering the size of the Indian real estate market, this... Read more

3 Risky Investment Properties To Avoid Note: This is a guest article by Tali Wee of Zillow All investments carry some form of risk and real estate properties are no exception. First-time real estate investors exploring the most lucrative opportunities must complete their due diligence before... Read more

Seven Ways in which Small Businesses Are Reducing Overhead Costs As a small business owner, you want to keep overhead expenses low to see the biggest profit margin. Of course, some expenses are essential, but that does not mean they have to be high. Savvy business owners are making the most of a number of different features... Read more

lnvestment Lessons from Warren Buffett Games are won by players who focus on the playing field – not by those whose eyes are glued to the scoreboard. If you can enjoy Saturdays and Sundays without looking at stock prices, give it a try on weekdays. -- Warren Buffett While Warren Buffett... Read more

Six Things to Know Before You Start a Fashion Business The fashion industry may seem quite overwhelming to someone trying to get their name out there and open a business. Prior to laying out the plans for said business, the owner should step back and take a look at the broader picture. There are six important things... Read more

Is Tesla Still a Worthy Investment? "Is Tesla still a worthy investment?," asked a friend of mine who read my article which I wrote back in June of last year. A lot has happened since then. Tesla stock has doubled in price and Elon's presence in the media is omnipresent. This guy is one of... Read more

Year 2013: My Favorite Personal Finance Articles It is hard to believe but, indeed, year 2013 is in the box. For stock investors, it was a banner year. Nasdaq finally climbed back to its old highs and other indices performed brilliantly as well. While pundits on the Street may have tried their best to... Read more

That Mutual Fund is Robbing Your Retirement "I don't take risk, so I invest in a mutual fund," said a friend with a smirk. He is not alone. I have known many friends who take pride in handing their hard-earned money to the Wall Street gang. If you are one of the proud mutual fund investors, I am about... Read more

How to Make Money Online Internet has definitely transformed our world. From a street smart's perspective, Internet has ushered a new era of knowledge that was confined in the walls of libraries around the world. It has also made harder for biased journalism to twist facts and control... Read more

How to Invest Money in Any Market [caption id="attachment_4819" align="alignleft" width="640"] photo by: Grant Wickes[/caption] Let's face it, not all investments are made equal. How to invest money is  as much or more important than how to earn and save money. I have known many friends who... Read more

Mr. Money Mustache and Jim Collins: An Interview [caption id="attachment_4746" align="alignleft" width="640"] ....photo by: timmycrockery[/caption] Mr. Money Mustache is the Babe Ruth of the early retirement zealots on the blogosphere. His fiery style with a touch of badassity has inspired thousands around... Read more

Get Free Articles!

Proud Member of Yakezie

Six Things to Know Before You Start a Fashion Business

Category : How to invest money, Personal Development, Smart Investment Ideas

fashion businessThe fashion industry may seem quite overwhelming to someone trying to get their name out there and open a business. Prior to laying out the plans for said business, the owner should step back and take a look at the broader picture.

There are six important things that an entrepreneur should consider when learning how to start a fashion business. Some of these will focus on marketing, such as learning how to use social media to your advantage. Others will focus on the product and sales, such as learning how to create a sample line and the importance of starting with a local store.

Know Your Customer and Price Point

One of the most important aspects to keep in mind when starting any type of business, especially one dealing with fashion is to know your target demographic. Understanding who the product will eventually be marketed to will influence the types of materials and designs you choose.

It will also help determine a good price point to sell your product at. When considering your price point, keep your target demographic in mind and check out what the competition is charging.

Create a Cheap Sample Line

As you work to determine your target demographic, begin narrowing down your product designs and ideas. Once you have determined which designs you think will have the best reaction, find a vendor who can help you create them without breaking the bank account. Now is not the time to order a mass batch. Rather, keep the order small and flexible. You don’t want to overspend on the sample line, because there are likely going to be changes that need to be made.

Constantly Figure Out What Works and What Doesn’t

Learning how to start a fashion business means figuring out what is going to attract potential customers and turn them into paying customers. Even the best idea on paper does not always work out the way the designer wants. Either their idea does not come across or something is just not attracting the customer’s attention. Whatever the case may be, ensure that you are constantly working to figure out what works and what doesn’t. For this part of your education prior to opening your business, it is important not to rely on friends and family.

This is really your first test with the market. Once you are happy with the sample line that has been created, test it on the masses.  Start small, again keep budget in mind in case the first test is not as successful as you want.

As you test your item, keep track of what people are saying. If you want, create a small form for them and fill out. After your are done with the test period, collect and review all of the notes from potential customers. Change the design as needed and then begin again with a cheap sample line. It may seem repetitive, but keep the cycle up until you have determined exactly which products are going to sell.

Educate Yourself

Education should not stop once you leave a formal institution. Rather, it is something that should continue throughout. This is especially important for people who are considering opening their own business. Constant, continuing to keep abreast with the market allows the entrepreneur to understand what is new in their industry and how it can potentially impact their target demographic.

Use Social Media

As technology tightens its grip on society, it is becoming clear that social media is here to stay. Business owners can harness the power of this far reaching marketing platform and use it to their advantage.

Start with a Local Store

One more thing to keep in mind while working to open your fashion business is to start local. It is important to approach a potential vendor with professionalism and an idea that will benefit both parties.

Not only does becoming part of your local economy help to support your neighborhood, but it will also help grow a foundation to expand upon in the future. Never forget your roots as they can support you in the future.

Opening any type of small business may seem daunting at first. However, within every industry there is a path that entrepreneurs can follow to future success. In the business industry, there are six steps future owners may want to consider. Whether you are creating a fashion line or want to open a new store, test market, understand your demographic and start local. You will not only find out what works and what doesn’t, but also create a local following that can propel you to national and even international fame throughout your business career.

Related Posts Plugin for WordPress, Blogger...