Starting your own fashion brand is exciting. You have dreamed of doing it all your life. Everything you have read says follow your passion. Since this is your passion you know you are on the right track. However, did you know that the majority of startups in the fashion industry are doomed to failure? So how do you put the odds in your favor? The following 3 steps when taken before you begin will increase your chances exponentially.
- What is your reason to be? Why does the market need you? There are a lot of brands out there doing almost anything you can think of. So you have to bring something to the table that is special and different and also appealing. You must figure this out before you do anything.
- Who is your customer? This takes a lot of research. Go to stores that would carry your product and ask questions about who shops there. Alexa.com is a good website to go to for demographic information about who your ideal customer is. Enter websites that have comparable product to yours and Alexa.com will give you age, sex, income, and more. Knowing your customer will help you when you design your collection.
- Make a business plan. There are many templates you can find on line. The templates ask you questions on both your business model and financial plan. By answering these questions it gives you a great framework to jump off from
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