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Showing posts from December, 2018

How much does it cost to start a high end fashion brand?

Most fashion start ups cost around 2 - 3 million to get off the ground, money is usually spent on production costs, staff, advertisement, legal fees, taxes, website design and office space rent. Fashion is such a expensive industry to start in, so it can be hard for small designers to start. However it is possible to start your own brand with just $5,000 - $10,000 it's very important to save up or fund raise the money to start up your brand so that you don't get into debt with a small loan this could put added pressure on the company in its initial start up phase. ​   Lets break down everything you need So assuming that you already have an idea for your collection the first step would be to get a professional fashion designer to help you with your design this will insure that the designs you are producing will be suitable for your target market whilst also trendy. A good fashion designer will understand how clothes are constructed and should be able to design garments that

What Can A Tech Pack Be Used For?

A tech pack is a document containing all the technical information about your product. It's an essential document for designers and production teams when producing new collections as it helps clearly communicate every detail to your manufacturer.  1. Quotes If you send a comprehensive tech pack along with a request for initial quote, your manufacturer will be able to cost more accurately and quickly; which means fewer surprises and more control over cash flow.  2.  Communication Tech packs make communication between you and your manufacturer easier and clearer, reducing misunderstandings and mistakes. They are even more important when manufacturing abroad, across time zones and cultures.   3.  Production manual Usually you have a single point of contact at a factory who looks after the entirety of your order; from designing, sourcing, sampling and production. However,  during this process, your product passes through many different people and departments within the f

What is the key point of the fashion business?

Few key points would be   To solve a certain aspect/problem:  It can be anything. The question is: What is still missing and why? This pretty much covers everything, but I’ve decided to list couple more, just to open things up a bit. Being creative:  As a designer or pattern maker, having your creation fully finished and bought by someone is a sensational feeling. By selling the designs, you can continue. Being innovative:  Sort of the same as solving a problem, but spicing things up with innovation, such as technology and new smart textiles into the fashion business. Making money:  Of course in the end of the day, you start a fashion business for money. But some designers and retailers have started the business for a better cause, and having bills paid by it, is a bonus.  Changing the industry:  E.g. Swapping fur to friendlier option, or being sustainable and promoting ‘slow-fashion’. This often starts as a hobby/blog/small business, and eventually becomes a full-ti

How to Create a Tech Pack for Your Fashion Line

Cover Page The  Cover Page  houses the basic front and back view of the style. These sketches should have a white or transparent fill, and not contain color or print. The sketches can be computer generated, hand drawn, or photographs. An important concept to be mindful of is to make sure that the image is proportional and clean, meaning they should not be stylized.   Inspiration Page The  Inspiration Page  houses any image(s) which helped create the original style. If the factory is to be the source of the pattern, the image(s) may help the factory create the pattern and reach the designer’s desired aesthetic. Inspiration images may contain whole garments or detail pictures, such as close up photos of a pocket or collar. An explanation of why the inspiration image is important may also be needed so the correct aspect of the image is conveyed in the style.   Callouts Page The  Callouts Page  is used to articulate the type of construction and design details that should be used

Other ways to Create a Tech Pack for Your Fashion Line

Proto Specs Page The  Proto Specs Page  indicates the measurements to which the pattern and first fit sample should be developed to. The chart contains five columns of information. The Point of Measure (POM) indicates how each part of the style needs to be measured to ensure the garment or handbag is the correct size and fits correctly. The Description expresses how and what needs to be measured in correlation to the POM code. It should be specific enough to relay what and how the point should be measured. The acronym for ‘high point of shoulder’ (HPS) will be seen often. Most vertical measurements will be measured from HPS, and should be indicated in the description. The Requested indicates the actual measurements that the garment or handbag should be developed from. If there is uncertainty of what a measurement should be, the column may be left blank and a note made for the factory to help determine the necessary measurement. The spec can then be measured and filled in at the

How to Make Massive Progress in Your Fashion Business

It can be difficult to make progress in any business. Every day feels like a lesson in overcoming challenges. No one is going to make progress for you so one of the most important jobs you have as a business owner is to set yourself up for productive work, not busy work.   This is a distinction that too many business owners have a difficult time making. Which is totally understandable, when there is so much to do, overwhelm takes over and the progress suffers. We’ve all been there.   But there are ways to push past this static state.   I’m going to share with you three ways to make a massive impact on the progress of your fashion business. Improve your mindset Get your business operations under control Get good at goal setting I know, those don’t seem all that exciting at first glance. I get it. But it’s often the mundane stuff that makes the most impact. Honestly, making real progress in your business requires an understanding of the difference between being busy an

The Important Step in Making Progress-Goal Setting

Goal Setting The most important thing to remember when it comes to goal setting is that you need to differentiate between tasks, steps, and goals. These are not the same things and unfortunately, a lot of business owners interchange them, to their own determent. Goals are big picture projects. They consist of components and can be broken down into steps and then into actionable tasks. Steps are components of goals that support the goal and get you closer to achieving it Tasks are actionable. They start with an action word and they are something you can achieve and check off the list in daily operations. The best way to explain this is through an example. An example of a goal is  launch the website . That’s not a step and not a task.  Let’s break it down. Goal: Launch Website Steps: Create Budget Organize photo shoot Write website copy Create a blog plan Decide on an email sign up incentive Tasks Review sale projections Decide on total marketing budget Rev

The Important Step in Making Progress-Business Operations

Business Operations Once you’re in the right mindset and you’ve made that mental and emotional shift, you can start to think about your actual business operations. The way you run your business is integral to making real progress. Otherwise, feeling overwhelmed and lacking focus will constantly throw you off your game. So what are the important components of business operations as they apply to making progress? Well, avoiding over-planning and over-analyzing, identifying procrastination when it’s happening, and getting help with making things happen.   Avoid over-planning and over-analyzing:  The goal here is to plan enough to get started but don’t get caught up on the perfect, super detailed plan. You don’t need to have it all figured out to get started. Also, while analyzing is important, it should come  after  taking action. Analyze what worked and what didn’t for moving forward rather than trying to analyze all the “what if’s” before you take action. Procrastination:  A

The Most Important Step in Making Progress-Mindset

Mindset Mindset arguably is the most important step in making progress when it comes to any venture. Without the right mindset, it doesn’t matter if you have everything else figured out, you’ll never be able to move forward if your head isn’t in the right place.   There are three things that tend to impact mindset the most. Confidence- lack of confidence happens to all of us, no matter how far along we are in our businesses. Fear- some of the common things we fear when it comes to business are lack of money, vulnerability, and failure. Perfectionism- I don’t believe that this actually exists. It’s fear, we just tell ourselves we’re perfectionists, and we need to stop. So how do you shift your mindset in order to make more progress in your business? Well, as an entrepreneur it’s important to pay attention to your mindset and check in with yourself regularly. Take an afternoon off from all the operational stuff and ask yourself some important questions. Give yourself time to

How can I collaborate with fashion brands?

Collaborating with brands can be one hell of a task. Approaching brands, getting them to collaborate with you can get time consuming.    So here are some tips which can make it easier for you:    1. Increase engagement: Brands may or may not look at the amount of followers you have. But it good to always keep on growing your fanbase. Once you have enough followers to show brands that collaborating with you can actually be a lot of use for them, only will they be willing to join hands with you. If you are low on engagement, look to increase that rather than looking for collaborations.   2. Create a media kit: Make sure you have a media kit to show brands what you have done earlier and what you are capable of. It is very important to have a media kit as this tells them about how good you are.   3. Draft a good initial mail: This can be very important in creating a good first impression about yourself. A well crafted mail will be replied to and the brands will know that you are s

Costs to consider when starting a fashion business

Day-to-day expenses These aren't necessarily things that you pay for often, perhaps even just once a year, but these are items that contribute to the day to day running of your business;  Phone Internet Computer Software (such as Excel, Word, Photoshop, Illustrator), etc. Tip - unless you're experienced with Photoshop + Illustrator I wouldn't buy these - they take years to master + there's a lot of free versions that are simpler to use, especially for photo editing Electricity Car/ fuel/ transport Insurance Accountant Books/ education/ information/ consulting help Product expenses These expenses all contribute to the cost price of your garments + include the components you need to make a finished product for sale; Trend reports Visiting events/ trade shows/ seminars/ suppliers Designs  Technical drawings  Tech packs Patterns (you might not need these if you work with a factory, they may include them in the production price) Samples (as with th

How to prepare to start a fashion business-Step 4

There's a lot of things that you'll need to source for your business + although at this stage you won't know what you need exactly, it is worth starting to do your research as early as possible. It can take a long time to source the perfect fabric, or the ideal manufacturing partner, so if you start making enquires early, you'll have some people to reach out to when you're ready with your designs. Examples of what you may need to source are;   Fabrics Trims, such as buttons, zips, thread Manufacturing partner Packaging/label supplier Courier company, for the sample process, receiving the main order + sending orders to customers Hangers + signage if you're planning to have a store or pop up Business cards/advertising fliers/posters/etc If you're new to the industry I'd also take the opportunity to learn as much as you can about the process. Key things to learn about are fabrics, the sample process + clothing construction/manufacture.  Just st

How to prepare to start a fashion business-Step 3

Visits As you're probably aware, travel is considerably cheaper if you book in advance. Therefore, it pays to organise any travel as early as you can to minimise the cost, which is especially important for businesses that are on a budget. So where might you want to travel to for your startup?   Trade shows are a really important part of running a business + as they are usually only every 6 months, you need to plan ahead to make sure that you don't miss an important event. There's a huge amount of different shows that you can attend; there's a variety of locations + some fairs are tailored to fabrics, some for manufacturing + others for wholesale buyers (where you might want to sell your collection). Start researching events as soon as you can to make sure that you go to the one that's most relevant to your business.  Seminars - many trade shows have great seminars,  but there's also independent ones of varying scale. For instance, you might want to go t

How to prepare to start a fashion business-Step 2

Next, when you know what you want to achieve with your business, you'll need to plan to make it happen - successful businesses don't happen by accident!   Planning Time planning - Many entrepreneurs I work with are surprised to learn that it often takes around 6 months to get a product from initial idea through the manufacture process + ready for sale - even longer for more complicated products, or if you're working part time. Making sure you're aware of each of the steps is really important + asking the right questions to make sure you understand the time frame. I always add on a 'buffer' of 2-4 weeks to allow for any unforeseen circumstances - it's better for the stock to arrive too early rather than too late! Budgeting - a lot of people will tell you that you have to have thousands in order to run a successful fashion business, but that's not always true. You can start with a much smaller budget, but you need to plan even more efficiently + put in

How to prepare to start a fashion business-Step 1

Decisions As with any new business, preparation is key + as the fashion industry is particularly difficult to succeed in, you'll want to make sure you've got a solid strategy from the start. Here's some tips for what to consider + decide upon before you start your business, so that you can plan accordingly;    You need to ask yourself what type of business you want to create, for instance, will you sell online direct to the public, or will you wholesale to boutiques? Are your products high end designer fashion, do they serve a specific need or purpose, or do you want to appeal to the masses? There's lots of different ways to start a business + you need to pick one that will work for both your business aims + situation. For instance, if your fashion brand is a side business + you'll still be working at another job, you'll need to choose an approach that is suitable for someone with a limited amount of time. Therefore, your range is likely to be much smal

How to Make Money With a Reseller Online Shop

The goal of your reseller online shop is to make money fast. There are several business pricing strategies you can implement to ensure your reseller online shop grows and remains profitable. You can also execute several different marketing strategies such as advertising, content creation and more to grow your reseller business’ sales.   Price Your Products Well:  While marketing your products is important, pricing your products well can help ensure that your business remains profitable. Some blogs recommend having a $2 profit to stay competitive. This is terrible advice. Your product price shouldn’t just cover the cost of goods. It also covers the cost of marketing, employees (when you start hiring)and more. As long as your product price makes sense for the market, you don’t need to underprice yourself. By lowering your prices to stay competitive, your business inches closer to failure. Create Ads:  In general, Facebook ads tend to be the most popular choice for dropshippers. Im

Something you need to know about wholesale.

Wholesale Buying wholesale is a fairly simple and straight forward process. You're buying your product inventory (usually other brands) direct from the  manufacturers  or from a middleman  supplier  at a discounted wholesale rate, which you in-turn, resell at a higher price. Buying wholesale is a lower risk business model compared to manufacturing for a few reasons. First, you're dealing with brands that are already validated on the market so you don’t run the risk of wasting time and money developing a product no one wants. Also, you don’t have to purchase as nearly as high of a quantity compared to manufacturing your own product. Minimum orders will depend on the manufacturer and product, however they're usually pretty reasonable and can even be as low as one unit.   Who's It For? Purchasing products wholesale is a good option if you want to get up and running quickly or if you want to sell a variety of products and brands. Wholesaling provides a wide range o

Domestic vs. overseas suppliers

Both domestic and overseas sourcing have their advantages and disadvantages: Domestic sourcing Advantages Higher manufacturing quality and labor standards. Easier communication with no language barrier. Marketing appeal of being made in North America. Easier to verify reputable manufacturers. Faster shipping time. High intellectual property right protection. Greater payment security and recourse. Disadvantages Higher manufacturing costs. Less product choice (there are many items that just aren’t made in North America anymore). Overseas sourcing Advantages Lower manufacturing costs. High number of manufacturers to choose from. One-stop services have made it easy to navigate suppliers. Disadvantages Lower perceived quality from customers. (Usually) lower manufacturing and labor standards. Little intellectual property protection. Language, communication and time zone barriers can be difficult to navigate. Difficult/costly to verify manufacturer

How to Find a Manufacturer or Supplier for Your Product Idea

For the purpose of this post, when we refer to suppliers, we’re referring to anyone who has the capability to provide you with products and inventory. This encompasses manufacturers, wholesalers and distributors.   There are a ton of helpful resources online which you can find on Google. But before you begin, there are a few things you should know and decide. First, you should determine what type of supplier you're looking for. This will help determine the terminology you need to use in your research. There are several options, the most common being: A  manufacturer  to produce your own product idea. A  supplier  (who may also be a manufacturer), wholesaler or distributor to purchase already-existing brands and products. A dropshipper to supply products and fulfill orders of already-existing brands and products Domestic vs. overseas suppliers When looking for suppliers if you plan to manufacture or wholesale, you’ll need to decide whether you want to source domestica

What are the attributes of legitimate wholesale supplier?

There are a lot of attributes associated with legitimate wholesale suppliers. If they are a great and respectful business they will  have a reliable customer service team . That’s the most important feature of a great company. A respectable company will have respectable customer service because it’s the face of the company after all. You can direct any questions to them about how to get started working together, for instance, because you’re brand new to this.   Second,  they will be organized and efficient . You don’t want to do business with anyone who is messy and disorganized, who would? A good supplier knows to deliver any information you requested quickly. They will ship samples to you quickly and include tracking information. The wholesale items will be well packaged. The wholesale supplier’s reps will email you back swiftly with all the right pieces of information too.   Third,  they are the expert in this niche . You can ask them anything and they will provide you with a p

How to spot a fake wholesale supplier?

Getting scammed is no one’s idea of fun. You don’t know what to look for to spot an illegitimate supplier when you’ve never done anything like this. So, I will tell you about three dead giveaways that should set off big red flags for you. If you come across any of these do not contemplate the supplier. Just walk away. It’s tough luck but it’s better than being taken advantage of or stolen from.   First,  wholesale suppliers never sell to the public directly.  That’s the whole idea behind wholesale, after all, B2B . If a potential supplier is selling both wholesale and directly to the public, walk away.   Second,  they will never have fees to do business with them . This may be in the form of monthly fees or pre-order fees. You will have to walk away from any supplier that wants to charge you for doing any business with them. Their way of making money is to sell you wholesale goods, not through fees. There are plenty of suppliers that do not take advantage of their customers this w

Wholesale Clothing Supplier: How to Find the Perfect One?

If you are looking to wholesale clothing online with your dropshipping business pay heed to the following steps and you will be on track to having a successful business. So let’s get started with the basics: domestic or overseas wholesale clothing supplier?   Domestic vs Overseas The first question everyone needs to answer is whether you want your wholesale clothing suppliers to be domestic or from overseas. Of course, both have their advantages and disadvantages. It will boil down to your personal preference, the products you’re selling, or your own values. Take care to research the quality standards for wholesale clothing suppliers at home and abroad to decide which is the best option for your business.   Advantages and disadvantages of domestic wholesale clothing suppliers Let’s start with the advantages of using a domestic wholesale clothing supplier. Because they are located domestically, the shipping time will be significantly shorter. Communication will be easier because

How do you request a quote?

Once you’ve  picked a supplier  you need to find out if they can in fact deliver. Your first communication with the supplier is likely going to be a request for quotation. Request for quotation, RFQ, is the name of the game with wholesale suppliers of any kind. It’s the only way to find out the prices from a supplier; you’ll get the hang of it very quickly because you will be doing it often. Basically, you’re sending an email asking how much something is based on the quantity you want to buy. However, nothing is this simple. You should treat it as a serious business inquiry instead of an IM between you and the supplier. You should plan your email to get the best possible response. Don’t waste your time by going back and forth on missing pieces of information.   You want to be informed on a few things starting with the supplier’s  minimum order quantity,  MOQ . This differs from supplier to supplier. You need to know if you can afford and handle the minimum quantity they are selling.

How to negotiate minimum order quantities

If you’re looking for a supplier for the first time, you're going to quickly learn about minimum order quantities ( MOQs ). It’s not uncommon for a manufacturer to require a commitment to purchase hundreds or even thousands of units for your first order depending on the product and manufacturer.   MOQs  make it difficult when you have limited funds or want to start small and test the market before making larger purchases. The good thing is that  MOQs  are almost always negotiable.   Before you negotiate, understand why the supplier has imposed a minimum. Is it because there’s a lot of work upfront? Or maybe it's because they prefer to work with larger buyers. Understanding the reasons behind the minimum will help you better understand their position and allow you to negotiate and propose to best counter offer.   After you have a better understanding of your supplier’s position, you can offer a lower order quantity. Compromises can include giving the supplier a deposit fo

What is the difference between branded and non-branded clothes?

This question has many answers:   Where there is a clear difference between Branded and Non-Branded clothes When you are walking down the pavement,  you are looking at branded clothes on one side ( read showrooms ) and  unbranded clothes on the other side ( read temporary stalls ). You can tell the difference by sight or by touching them. There is quality difference , design difference and of course price difference. You probably wouldn't shop for these unbranded clothes since they look downright cheap.   Where there is a small difference between the two The clothes sold at shopping plaza's may be branded or Non-Branded. The quality is slightly inferior to the branded clothes but you get a wide variety of designs. These clothes generally don't have limited numbers of each design ( read <5 pieces) and few sizes are available. There is a huge price difference between the two. Those who cannot afford the branded clothes wear these. Since they get the goods of b