Starting Your Own Fashion BrandLucinda Winston
Creating a successful fashion brand is much more than having a great product. You’ll need to understand how to run a business from the ground up, including finances, branding, and marketing to help launch your designs. An understanding of business basics can help you get a head start:
Develop the Product
The first step in starting your own fashion business is to narrow down the products you plan to sell. Maybe you’ve always dreamed of starting a line of handmade separates for men. Or perhaps you see a void in the market for comfortable yet stylish shoes for women who work on their feet. Once you have an idea of the niche your products will tap into, build prototypes to set exact specifications for the final designs. A prototype will also help attract investors or manufacturers to get your designs produced.
Identify the Unique Selling Proposition (USP)
Once you’ve determined the type of products your business will sell, it’s important to identify the USP, or unique selling proposition. A USP can lie in the features of your product, your customer service, or even the way you advertise your brand. The USP sets your company apart from competitors and defines why consumers need your product. Developing the USP is also crucial for branding and marketing applications.
Setting a price for your products is more than determining profit on each item. In fashion, price can often correlate to the “value equation” that the brand creates in a consumer’s mind. Will your customer simply be paying for a product, or are they paying for a high-end fashion name? Keep in mind that setting a price too low, or too high, can turn off would-be consumers based on perceived value.
- What’s in a Name: Make a list of qualities or images that your products evoke. Come up with a couple of catchy slogans based on these qualities, and then narrow it down until you’ve decided on the right name for your business.
- Choosing a Logo: Next, brainstorm the best way to represent your brand visually. Pick a logo and stick with it, because this will be one of the primary ways for customers to identify your company. Trademark your logo once you’ve decided on the right one.
- Unique Clothing Labels: You can use personalized clothing labels to make a statement about the quality of your products. Like a logo, labels allow customers to visually identify your brand and products in an instant.
Launch Marketing and Other Promotion
- Create a website and use social media to build awareness of your products.
- Establish relationships with online press or blogs that can help bring attention to your brand.
- Sponsor events that cater to your target audience.
- Purchase ads from online or in-person publications that are read by your future customers.
- Go to a fashion show to network with other designers.
Starting your own fashion business is a great way to make your passion a reality. Building a comprehensive business plan is crucial, from attracting investors to arranging marketing and branding. Enhance the look of your product with custom woven labels from It’s Mine Labels. To learn how we can match your branding and help your product stand out, call 1-866-695-2235.