Mistakes People Make When Starting a Fashion Line
This is the year for people to venture out and follow their dreams. Many people are turning their passions into business but need to know a few things first.
March 8, 2021 3:12:00 PM PST March 8, 2021 3:12:00 PM PSTth, March 8, 2021 3:12:00 PM PST
There are so many exciting details surrounding the thought of starting a fashion line. Perhaps once, a dream that seems far out of reach seems a bit more realistic than ever, with an influx of people launching businesses majorly online in the midst of this pandemic. This may seem like the perfect opportunity to launch your line, and it may very well be. However, it’s important to avoid these common mistakes people make when starting a fashion line that may cause additional problems.
Starting Too Big
A major mistake that people often make when beginning their clothing business is starting too big. Though you most likely have many great ideas for different pieces, styles, and want to offer variety within your line, there are several issues that may arise. First, you might end up spreading yourself too thin in an attempt to do too many things. Secondly, if you’re doing too much, you’re not doing anything as well as you could be.
When you’re starting out, quality over quantity is essential. If you’re just trying to get as much on the rack as possible and you sacrifice time and effort to offer options, you may find yourself stuck with apparel you can’t seem to move. Consider beginning with five to ten solid styles, then as it becomes clear which products are in demand, you’ll know where and how to grow.
Needing More Money
Starting most businesses means putting a lot of your own money upfront to make a real profit down the road. Be sure that you’ve set aside money for emergencies and orders that come in last minute so you can always deliver what you’ve promised.
It’s crucial that you have enough money to be able to fulfill incoming orders, as failure to do so could leave a lasting negative impression of you and your business on others’ minds. Moreover, though it will take time to generate substantial revenue, you don’t want to overextend yourself financially. This could cause you major issues and high levels of unnecessary stress. Keep in mind that even when feeling pressure, don’t let that cause you to poorly price items, whether too low or too high. You don’t want to compromise on your product, nor do you want to gauge your new customers.
Being Around the Wrong People
It can be tempting to bring friends and family into your business, especially when they’re being super supportive and working for little payment. As much as you love them, they may not have the necessary knowledge or skills to contribute effectively to your business.
Consider keeping your personal relationships intact and surrounding yourself and your business with positive and trustworthy people who have the knowledge and skills to help you level up with your company. Be sure that the team you build shares similar common values as you and can help deescalate intense and stressful situations. If you are experiencing trouble finding the right people, consider turning to a fashion recruitment agency for help.
Inadequate Promotional Marketing
Marketing and branding are very important when promoting your business. Don’t spend too much money on them as you can get quite a bit of organic reach using free social media platforms. Ensuring customers are aware of your specific brand is essential. Use every platform that is right for your business. Post often and make sure that people know you’re active and are informed about your line.
You won’t want to spend more than twenty percent of your targeted gross revenue marketing your brand. Build a buzz however you can while still maintaining that budget. Once established, you can decrease the amount spent on marketing as the brand will speak for itself, as will your customer base.
Additionally, many fashion lines think they need to do fashion shows, and although that’s something to work toward, it’s not at all necessary. Focus more on attending trade shows where you can generate leads and check out the competition. Be sure that when attending these events, your logo and brand name are everywhere. Any workers that attend should be wearing labeled hats or shirts to start putting that image in people’s minds. KBethos sells a variety of blank strapback hats wholesale to allow you to patch, embroider, or press on in several colors to match your aesthetic. Plus, they can easily be worked into fashion, images, and posts to subtly promote the name of the line.
Consider a launch party, perhaps even a virtually in current times, as an alternative to a runway show. This is another place to sport logoed hats and other promotional apparel, as well as the items of your line. It will cause you less stress and save you money while still getting your brand noticed.
Missing the Details
Though creativity, freedom, and living out your dreams are so important when you take the plunge into starting your own fashion line, being realistic about the details surrounding you is equally as important. Don’t forget the details such as your business plan and how you’re going to execute it. You’ll also want to write everything down. It’s easy to forget things, so remaining as organized as possible and making notes about everything is imperative.
Once you start filling your brain with information, timelines, and to-do lists, something essential is bound to slip away. Therefore, keep track of numbers and maintain financial records as best as you can. This will make it easier to pinpoint areas where you’re losing or making money. Keep close track of your inventory and the money spent on things. If something isn’t adding up, the faster you can find out what’s gone wrong, the better.
Poor Store Rapport
Fashion lines depend a lot on partnerships. The stores or vendors that you want to team up with will matter. Be sure that you’re respecting their time, agendas, and business as you begin building rapport with the businesses you need to get where you want to be.
It will also be important that you share similar views of where you’d like your brand to go, otherwise things will be difficult. Do your research to ensure that they are a reputable business, as you don’t want to be misled or stiffed on a bill. When approaching buyers, it’s best to make appointments and appear professional and seasoned rather than walking in and hoping for the best. If you find stores that you’d like to partner with, it’s worth having an attorney write up a contract to establish the relationship and leave no stone unturned.
Wise spending is a major part of your business, especially this year, as stay-at-home orders continue, and the pandemic has left everyone uncertain about a lot. As mentioned previously, keep track of your budget and your spending. You’ll need to familiarize yourself with taxes, what can be written off, and what needs to be saved.
We are often misled into thinking that building a website is expensive or invasive. It doesn’t have to be that way and it shouldn’t break the bank. Using a website-building program is inexpensive, and once you get established, you can spring for a talented developer to help you out. Additionally, it’s a good idea to incorporate e-commerce when using website builders or work on an e-commerce website to start.
There are many mistakes people make when starting a fashion line. The good news is that being aware of those mistakes makes it less likely that you’ll make the same ones. Though KBethos has spent the past twenty years building and perfecting our brand and striving to sell quality hats and masks, we also take careful consideration into the content we think will help those just starting out obtain their goals. Understanding the possibilities for error allows you to make concrete plans to avoid potential issues.