4 helpful hacks for setting up a fashion business
If you’re on the edge of your seat each season waiting for the latest designer collections to drop in London, Paris, New York and Milan, setting up a fashion business might be your destiny.
But the style sector can be ruthless — some startups sink before their elegant ensembles get anywhere near the coolest catwalks.
So here are four helpful hacks for setting up a fashion business.
If you start your business small it’s possible to keep costs low — that way there’s more chance of sustainable success.
You might want to run a high-end retail store that stocks the largest haute couture labels. But these designers often charge high wholesale prices that the purchasing power of newbie businesses can’t stretch to.
But you could concentrate on creating your own clothes and stocking a few select items from local emerging designers instead — you won’t break the bank and can still create a cult following.
Outsourcing IT and HR services can save lots of vital cash too — there’s no need for a full cohort of staff from the very start.
Getting your branding right can also make the difference between fashion success and failure.
You’ll need to develop a Unique Selling Proposition (USP) for starters.
So if you’re selling women’s fashion, what differentiates your dresses from the competition? You’ll have to compete on price, quality, aesthetic appeal or a special combination of a few variables.
Then you should use market research and data drawn from the web to develop personas for your prime target customers based on age, gender and other factors.
This allows you to develop the appropriate tone of voice and messaging that drives sales instore, on social media and through your website.
Providing great service, products, services and solutions every time a customer interacts with your brand means that you’ve got to grips with customer experience.
Having the same positive attitude to online and instore customers will enhance your reputation — and developing the same respectful attitude towards compliments and complaints.
As your fashion empire expands, customers will remain loyal because they can expect similar standards in your concept store, on your website and across your social channels.
But don’t forget your internal customers — be kind to yourself and your staff, otherwise it’ll be much more difficult to project positivity externally.
Get great at sales
When you want to forge a career in fashion you’ve got to become a good salesperson.
You’ve got a creative vision and good taste — so being confident as you explain the reason your product’s the perfect choice for customers is a no-brainer.
Lead-generation, preparation and product knowledge are key habits of an effective salesperson.
But whatever traits you exhibit, develop a persuasive and enthusiastic approach that’s evident wherever you interact with customers — from pop-up shops to shop floors and market stalls.
This same approachability and magnetism can be transferred online too — your personality might become crucial for your profitability everywhere you do business.
These four helpful hacks for setting up a fashion business will help you decide if you’re cut from the right cloth.
Have you set up a fashion business? Share your tips in the comments section.