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Jun 21 / admin

How to Start a Successful Fashion Business

Here are some informative tips on starting your own Fashion Business.  There are a series of articles detailing some key steps in the process, but we’ve just linked to the first one on getting started.  Take some time to go through them all to get some helpful insight into the process of beginning a Fashion Business.

http://www.businessoffashion.com/2007/02/the-business-of-fashion-basics-1-setting-up-your-own-fashion-business-what-do-i-need-to-know-first.html

Key Takeaways:

“Do I really want to run a business?”

“Beautiful people, fun parties, flights of creative fancy – what more is there to want from a career? Here’s a reality check: it’s not as glamorous as it sounds. Running a fashion business means that packing boxes at 2 am, steaming clothes over and over again, and pouring through receipts with an accountant will become part of your routine. You will likely spend less than 10% of your time designing, while the rest of the time you will be managing production, sending clothes to magazines, dealing with suppliers who want their money (now!), begging Anna Wintour’s assistants to grant you a meeting, managing your employees while hoping they don’t fall ill, and trying to eat and bathe in between.”

“Do I already have or can I find the necessary skills, contacts and funding to create a successful fashion company?”

“You will also need to find people in the Industry who agree to support you and work with you. You’ll need a PR who will (at least initially) give you his services for almost nothing and a factory that will make your clothes in small quantities. You will also need accountants, lawyers, stylists, photographers, graphics designers, production managers and interns – hopefully all at discounted prices. You therefore need to ask yourself if you already have a set of contacts which you can leverage to make your business work. If not, you need to get out there and meet people so you can start your business on the right foot, with the right team behind you.”

“Do I have something unique to offer the market?”

“If there is one crucial thing I recommend that you do before rushing off to start a business, it is to carefully craft your business concept. What is it about your business that will be unique? Why will people choose to buy your product over someone else’s? Is it the design, the price, the value or the dream that they are buying into?”

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