How can i start a clothing business?
I need opinions from an experienced people. From the very start on what to do?
- Anonymous10 years agoFavorite Answer
Whether you are starting a clothing business or any other business I would follow these following steps...Don't skip any of them. Ps. I will give you a bullet or two under each area but it is much more involved than that.
1. Do a self assessment of yourself...clothing is a very competitive field/ what are your reasons for wanting to start this business.
2. Assess your entrepreneurial potential:
-Key areas that your life will be different (such as $$$)
3. Select and Define your business Clothing - but what is unique about it.
-Define "What Business you plan on being in)
3. Write a business plan.
-Don't write the plan for the banks or the SBA. Write it as a strategic plan for today and tomorrow. Its your first road-map.
4. Market Analysis
- Perform a SWOT Analysis. SWOT stand for Strengths, weaknesses, opportunities and threats...VERY VERY Important
5. Craft a marketing plan
-The sales or revenue forecast.
-The action plan or marketing strategy that explains how the revenue will be attained.
6. Craft a Financial Plan
-How will you arrange the capital to fund your business.
7. Plan the Organization
- For a corporation: S corp C Corp, LLC, etc...
8. People , places and things
- Figure out insurances, staffing
9. Create a plan of action
-put the pieces together: Key components are Market Analysis, Marketing Plan, Financing, Organization.Be date specific. Stay to your plan.
10. Calculate Numbers
-Put together a forecast for revenues and expenses for next 4 years.
-Establish B/E or Break Even and other financial calcs.
I hoped this helped. It breaks starting a Clothing business down to 10 bite sized pieces. PS I know what you may be thinking. Don't skip these you may find that your business talents are in a specific niche of clothing.
-focus on managerial skills in your plan.
- SETILv 610 years ago
Your best bet is to do your own name brand and sell online. Just yourself to start up.
If your thinking about a production line operation, forget it.
Clothing is made in Asia with very low production costs.
That can not be matched in US or in Europe.