How can i start a clothing business?

I need opinions from an experienced people. From the very start on what to do?

2 Answers

Relevance
  • Anonymous
    10 years ago
    Favorite 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.

    -Financial analysis

    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.

    Welcome

    BusinessHotline

    -focus on managerial skills in your plan.

    -

    -

  • SETI
    Lv 6
    10 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.

Still have questions? Get your answers by asking now.