Should I Start a Fashion Business?

By Maria Pesin | Vibe Consulting

Mar 14

“Fashion is a $1.2 trillion global industry, with more than $250 billion spent annually on fashion in the United States, according to industry analysts. Fashion and apparel industries employ 1.9 million people in the United States and have a positive impact on regional economies across the country,” according to Maloney.house.gov.  That is a pretty impressive number.  Of course it includes all parts of the industry from manufacturing to piece goods.  But, still a lot of business.

People are buying fashion.  So obviously there is potential to have a successful fashion business.  Should you start one is the question.  That really depends on you.  There are lots of things to consider.

  • Do you have a great idea?  There is a lot of product out there so your product needs to stand out from the crowd.
  • Do you have time and money to invest in a business?  There is no getting around it.  You will need both.  How much will depend on this business and how fast you want to scale it?
  • Do you have the tenacity to drive through the challenges?  The is no straight line to the top in this business.  You have to be prepared that some of the things you do will not work out.  When they don’t you need to figure out a different strategy.
  • Are you persistent?  Growing your business requires you to keep driving forward no matter what happens?
  • Do you have the drive?  I have a client that I was having a discussion with about what stores to sell.  One of them happened to be in his neighborhood, so I asked him to visit the account.  30 minutes later he was in the store talking about his brand with the store manager.  Now that is drive.

There are lots of people out there who dream of starting a fashion business.  If that is you and you think you have what it takes, go for it.  I know for me it has been a very rewarding career.

Follow

About the Author

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!

>
14 ESSENTIAL TRUTHS EVERYONE IN THE FASHION BUSINESS SHOULD KNOW.
x