The fashion industry is filled with creative individuals who want to embrace their passion for clothing and design into a thriving business. In addition, it’s a dynamic field where people welcome various designs and brands. If you’re one of those aspiring fashion designers who want to turn their creativity into business, you can start a new journey from an idea. From there, work on your way to a better execution.
But before achieving the steady flow of your brand, there are steps you need to take, In this article, we’ll give you some of the most important things you need to do when opening a brand.
1. Define Your Niche and Brand Identity
Are you familiar with the fashion industry? If you are, you might already know how competitive it is. This is one of the reasons why you should identify your niche, focus on it, and create a strong brand identity.
For instance, if you love creating streetwear, make sure that people can identify your brand even when your creations are combined with the others. It’s the first step where you don’t need to think about business and focus on what you can do as a designer.
2. Market Research and Business Plan
Once you know who you are, the next is to check if the market would appreciate your brand. Conducting market research enables you to understand your future clients, trends, and competitors. From there, you can create a business plan based on the results.
In creating a business plan, think of it as the outline of your business that guides you through your entrepreneurial journey. If you have a comprehensive business plan, there’s a high chance of reaching your goals over the next few years.
3. Create a Business Entity
Decide on the legal structure of your company. Is it a corporation, sole proprietorship, or LLC? For start-ups, sole proprietorship is the ideal type to register where the owner has the rights and responsibilities.
Meanwhile, corporations are mostly run by the shareholders, and LLCs are owned by one or more individuals. Aside from registering your business, make sure to get all necessary permits and licences.
Lastly, your business will run smoothly if you have a registered employer number used to pay taxes and other fees.
4. Source Materials and Production
Whether you’re creating fashion pieces one by one or curating a collection, it’s essential to look for the right place to get high-quality materials and create the production process. Establishing a good relationship with your suppliers goes a long way. For instance, if you need a specific fabric, they can look for it at an affordable price.
Designing and production go hand in hand. Once you’ve established a good production that meets your standards, the process can flow smoothly.
5. Design and Develop Your Collection
Once you’ve secured the best possible source of your materials and a good production process, you can start designing your first collection. While designing, keep your brand identity and target audience in mind. That way, you can have a consistent design throughout the collection.
Since this is the favourite part of the designers, try to express how you want things to be. However, pay close attention to the details because this can make or break your entire collection.
6. Branding and Marketing
Once your designs come to light, developing a strong brand image and marketing is the next thing you need to do. Nowadays, there are various ways to let your target audience know your brand. Utilise social media influencers, fashion events, and digital marketing.
Aside from that, you should also create memorable designs for your social media posts and your website.
7. E-commerce and Retail Space
Are you planning to sell your fashion pieces online? If yes, you can hire a fashion eCommerce agency to help you get started. Meanwhile, if you want to increase your brand’s presence, you can also have a physical store.
When you hire a fashion eCommerce agency for your online presence, choose one that can achieve your target within a given period. In addition, various agencies have different specialisations, so it’s best to look for someone related to your brand.
8. Build a Team
As your brand grows, you’ll need some assistance. Hire professionals depending on your needs, like people from sales, production, and marketing. In addition, it’s recommended that you hire those who also share your vision.
It’s important to plan the number of people you need to hire since it might cost you more instead of helping you.
9. Financial Management
Managing your finances is another way to create a solid foundation. On the other hand, if your finances are all over the place, your business might not thrive. You can start by opening a business bank account. It can help you separate your personal and business finances for easier tracking and avoid possible legal issues.
Although you have a background in bookkeeping, there are times when you get distracted, and might not track everything, so having a separate account for your business is especially helpful during these times.
10. Adapt and Evolve
The fashion industry is fast evolving, and the trends change most of the time. This is why you should be open to learning and your business should be able to adapt to these changes. To do this, you should listen to the feedback of your customers, improve and develop your business, and constantly make changes.
Conclusion
Starting a fashion business is an exciting yet overwhelming journey. However, with the right idea and execution, you can turn a simple plan into a popular and go-to fashion brand for many people. Keep in mind that your brand should go first. It’s okay to get various influences, but you should stay as you are.
We hope this article helps you plan your ideal fashion brand. If you want to share your thoughts or experiences about building a business, don’t hesitate to leave a comment below!
ABOUT THE AUTHOR
Aliana Baraquio is a web content writer at Design and Build Co., a specialist digital agency for fashion and luxury brands that helps clients maximise their digital presence and remain agile in a rapidly changing environment. You can catch her browsing the internet for the latest hairstyles and hair care tips in her free time.
