If you are a designer and your biggest dream is to turn your sketches into stylish garments, you probably thought about starting your clothing business. However, a business start-up, especially one from scratch can be very tasking financially and the tightly packed schedule can cause a lot of stress to build up. If you want to find third-party investors then you can check Crunchbase.
Luckily, in today’s article, we are going to guide you through all the steps you need to take to ensure that your clothing business has a flying start in this 3 trillion dollars-worth industry.
Your Vision
Think of what made you fall in love with designing clothes the first time around. Was it the passion that comes from seeing your ideas come to life or was it the endless opportunities the blank piece of paper offers?
Whatever prompted you to grab the pen and sketch away, make sure that you follow your vision. Many newcomers to the fashion industry will look to follow a certain current trend and please the masses. However, this will always hurt your creativity. Gothic shirts, for example, attract members of the alternative subculture and are a great way to express your creativity without boundaries. If you are a big fan of alternative culture, maybe this is the style that will carry your brand’s message.
Your Plan
Now that you know which apparel style you are going to specialize in, let’s say it’s gothic t-shirts, it’s time to create the engine of every business, the business plan. A business plan will serve as the guide of how you will conduct business and cover all ground including a marketing and operations plan.
If you are new to the world of entrepreneurship, you can always get a helping hand from business plan templates. A t shirt business plan template will allow you to put all your ideas on paper and fast.
In addition to having a clear idea of how your business will operate, and a properly written business plan, you can attract many investors if they find your ideas valuable and worthwhile.
A solid t-shirt business plan will include these points:
- I. Executive Summary
- II. Company Overview
- III. Industry Analysis
- IV. Customer Analysis
- V. Competitive Analysis
- VI. Marketing Plan
- VII. Operations Plan
- VIII. Management Team
- IX. Financial Plan
Create The Name And Register Your Business
Business names may be the first introduction to potential clients to your brand, so you better make a good first impression. Think of what your favorite clothing brand names have in common, they are probably all simple and easy to pronounce.
Some clothing brands swear by the power of slogans. If you take a look at what Nike is doing, you can see that they have created a complete marketing strategy revolving around their slogan.
After you focus your creative powers on creating the perfect business name and slogan, it’s time to register your business so that you can accept payments. Nowadays, registering for tax is easy as all the information you need is provided on the IRS official web page and you will have your Employer Identification Number in no time.
Start Designing
As soon as you’ve got the business plan ready and your headquarters are ready to change the lives of people around the world, it’s time to create the first designs. In this phase, think of what kind of materials you will use for your clothing line and where they are going to be manufactured.
Ideas are like fish, if you don’t catch them when the opportunity occurs, they are gone, so be sure to always keep a sketch pad on you and never miss on potentially trend-defining outfit ideas.
Find A Manufacturer
Finding the right manufacturer is absolutely crucial for the success of your clothing business. If you decide that you want to outsource this operation out of the US you will cut down costs significantly, however, the quality of your product might suffer.
If you enter negotiations with a certain manufacturer, don’t hesitate to make the trip and inspect their way of operation and the technology they use to create apparel. If possible, ask the current or previous clients of the manufacturer in question and inquire what kind of experience they had.
Finding a reliable and quality-focused manufacturer can be a hard task, however, the search will eventually pay off as you see your brand reach new heights.
Decide On The Price
It’s normal that you will want to make money from every product. You should settle on a price that covers all production costs but doesn’t exclude a significant number of potential customers. If your products are US-made, however, you might aim for a higher price.
Consider where your clothing line will be sold. Do you want an online store or a brick-and-mortar shop? You can also collaborate with local boutiques that sell many items from different brands.
Market Your Way To Sucess
As things stand, it seems that social media channels are a prerequisite for a successful marketing strategy. For clothing brands, Instagram is the place to go due to its visual focus. Instagram will also allow you to set up shows so that your merchandise can reach more audiences quicker.
You can also set up a website where you can showcase your collections and inform your clients about potential discounts or special offers.
Final Thoughts
Starting a clothing business from scratch can be difficult, but with the right guidance and passion, your dreams can become reality. Write a solid business plan and think about what style you want to pursue. Don’t forget to find the most reliable manufacturer out there and market your way to success.
