So many entrepreneurs but not enough money to get started in the fashion business of your dreams. But, what if you can start with $10,000 or less? Would that work? For many people that would. So how would you begin? First don’t quit your day job. At least not until you business earns enough money to support you. Next create a product.
Creating the product is the key. And making one very fabulous product will keep your expenses low. Look at Kate Spade. She started with one handbag in many colors and from there her company was born. Sara Blakely of Spanx made a footless pantyhose that held women in and smoothed out bulges. By making one product they were able to keep sample development cost low.
Study your customer extensively and preview your product with them so you can make sure your merchandise is desirable. If not learn from them and improve it till its spectacular.
Finding a good production factory is the next step. So many fashion businesses fail because they do not have good production. A lot of work needs to be put into this to find trustworthy well managed factories that make good quality and have one time delivery.
Sell direct to consumers in the beginning. Build a website using a template that has a shopping cart. Companies like Shopify and Wix are some of the top fashion business website developers. They have great templates that have minimal expense.
Market the hell out of your business. Do pop up events, get micro influencers to write about you, run google and Facebook ads. And post on Facebook, Snapchat, Instagram, and other sites you think would be great for your product. Post often, consistently, and with a point of view that is engaging to your customer. This is where you need to spend a lot of your money. Without marketing people won’t know you exist.
Then take all your profits and put it back into the business till you have enough to be successful.
Maria Pesin knows fashion, especially the business side of the fashion industry. Do you know how Manolo Blahnik got his start in the industry? How he leveraged a paltry 3 grand into one of the world’s most famous luxury brands? While she doesn’t take credit for Manolo’s success, Maria has walked a similar path on numerous occasions. The world of fashion is not silicon valley, and it has nothing to do with Madison Avenue marketing. In this industry there is ALWAYS room for something new and exciting, but you have to have your ducks in a row. If that’s what you need, believe me, Maria is the General Patton of fashion ducks!
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