Starting a fashion company from the ground up can be an exciting and exhilarating experience. It can also present a set of unexpected challenges that can seem daunting. By having a clear vision of what type of fashion you will be selling and manufacturing, the right factories, wholesale suppliers, promotion and publicity, as well as experienced sales representatives, you can make it a pleasant and satisfying experience.
Instructions
1. Set up the type of business entity that will best represent the type of business operating structure for your fashion company. Business entities such as incorporation, a limited liability company (LLC) or with partners, a limited liability partnership (LLP), have different tax benefits and implications.
It is important prior to filing any state applications along with the required state filing fees, to discuss with your attorney, accountant and financial advisor which entity structure will suit your fashion company best. The application filing process, requirements and fees vary between state to state.
Research your chosen company name or brand label name prior to filing any state applications to ensure there are no trademarks issued to that name or category.
2. It is best for your fashion company business plan to have a clear vision of what type of fashion category you will be designing, selling and launching. For example, you can develop a brand or specific fabric category within your company operating under a separate label name.
This is necessary in order to identify a specific target market your product will relate to and sell. This step will also help you select and narrow down which trade shows you will be featuring your clothing. Your clear vision will be your guide and map while purchasing fabric, trims, during production placement and selecting the proper publicity channels and vehicles.
3. Build your collection with the type of style and silhouettes keeping in mind your target market and customers. Research and development will be key factors while building your collection. It is necessary to budget into your plan key shopping cities such as New York, Los Angeles, Paris, Milan, London, and Tokyo. It is also important to subscribe to key fashion trend and color services.
4. Set up your publicity shoot. Cast models and hire a professional photographer for your publicity shoot.Your budget will be a key factor when hiring models, photographers, make up and hair stylists, what type of venue you will select for a launch party, which publicity firm you will hire, and if you will be sending promotional giveaways to magazine editors for an editorial spot.
When working with a limited budget, call your local modeling agencies or colleges and offer free pictures for their portfolio in exchange for their modeling or photography service.
5. Build your brand and fashion company name by attending trade shows for your fashion category. Send press releases to the newspaper fashion and style section departments. Select which magazines you feel your product is best suited for and call the publication office directly for their editorial submittal process.
Attend department store new vendor and designer viewings with your collection line sheet. Your line sheet will consist of photographs or line drawings of your collection, with price points, sizing, color scheme, fabric and trim information. Buyers will need this information when reviewing your product.
Tags: fashion company, your collection, your fashion, clear vision, what type