How to Build a Business in the Fashion Industry

Huge brands such as Dolce & Gabbana, Gucci and Louis Vuitton also started as startup business once upon a time, now serving as some of the most luxurious and expensive brands in the world, but also proof that everything is possible if you set your mind to it. Fashion has become a huge deal in the last couple of decades, and it seems that this craze is not going to settle down, as there are more and more minor fashion companies and designers trying to find their place in the fashion world. The fact that there’s a plethora of them shouldn’t distract you or discourage you from trying to make your dream come true, and if having a fashion label is one, you need to do whatever you can to make it profitable. Here’s what you need to know if you want to build a business in the fashion industry:

 

1. Identify a market need

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One of the most important things before jumping on this bandwagon is identifying the market need, as if you create something that there’s no demand for, you’re doomed. When you think about the fashion industry, the thing here is a bit more complicated. You can either try to be original and focus on a certain group of people – for example men, XL-sized people, or even clothes for petite people. If the demand for this department exists and there’s not a lot of competition, then this might be a good idea. However, if you want to pursue a career in the traditional fashion industry and create something for everyone, make sure to have a great idea behind your clothes. You can either think of a leitmotiv that will be present in every single piece of clothing that you produce, or try to think of something nobody else tried before, which can be quite difficult.

 

2. Who’s your target audience?

In order to do the first step in the right way, you should determine your target audience. Creating a label that will produce clothes for everyone is simply out of the question, as it won’t catch on the majority of people. You can either focus on children, teenagers, young adults or the elderly, and start from there. Targeting your audience in the right way will tell you how you need to advertise your product and what platforms to use.

 

3. Find your essentials

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Starting a business in the fashion industry is definitely not an easy endeavor, and it does cost a bit more. But it’s just like any other startup – it’s important that you invest in all the things that you need in order for them to pay off eventually. Apart from the regular fees for designers, people who will actually make your clothes and the fabric, it’s important to invest in a good apparel ERP software that will help you manage everything without a problem. Even though it’s seemingly unimportant, this software will keep track of your spending, revenue, stocks, orders, shipping, invoices and much, much more. It will definitely make your business a lot easier to handle as it will serve as your own personal assistant.

 

4. The power of advertising

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The following step might be the most important so far. So, you created your clothes but you have no idea how to get them out there. The platform you want to advertise it on is definitely Instagram, which is probably the most important platform at the moment. Create your own account, and make sure to create a signature identity for Instagram as the feed is extremely important nowadays. You can always ask certain experts on how these things work – bear in mind that this will either make or break your brand. Moreover, don’t be scared to contact some minor Instagram influencers whom you will give a couple of products for free in exchange for a good photo and a tag. These things work like magic, even though it might look very abstract to people who don’t have Instagram accounts or are simply not familiar with this way of advertising. If you want to advertise your brand on other platforms as well, feel free to do it as there’s no bad platform for you to advertise. Newspaper, TV, Facebook, Twitter – whatever you want is OK, but make Instagram your priority.

 

To sum up, don’t be scared to start. You have to start small, but you will get to see your business grow more and more as time passes, which is definitely an overwhelming thing. Just follow these steps, recognize the power of advertising and you’ll be good to go. Good luck!

About the author:

Claire Hastings is a wanderer and a writer. She writes as long as she can remember, and she is very passionate about fashion, running, other cultures, and her cat.