Starting Your Own Fashion Brand In 6 Simple Steps
It’s never been easier to start your own business. Advancements in technology and the rise of eCommerce allow you to sell to all corners of the globe from the comfort of your own home. In years gone by, business needed to be done in person and over the phone, while teams needed to be housed in the same office.
In 2024, this is a thing of the past. Some advantages of starting a business in 2024 include:
• Remote working – stakeholders and teams don’t need to be in the same physical location meaning brands have a wider pool to hire from
• AI and technology – specific skills such as web development are becoming less needed as AI and technology can replicate tasks such as coding
• Networking and mentoring – a quick Google search will reveal just how easy and accessible it is to find a mentor or join networking groups online through platforms like Discord and Facebook
These factors and the desire for young people to escape the typical 9-to-5 lifestyle have placed modern entrepreneurship on a pedestal. If you need proof of this, you’ll notice how many independent startup brands collectively provide stern competition for household names.
One industry where it is becoming particularly common to see small, indie brands emerging is the fashion industry. Once upon a time, starting and growing your own fashion brand was a pipedream to many. But today, it’s easier than ever.
Here are 6 things you’ll need to do if you want to start your own clothing brand.
Choose your niche
First of all, what are you going to sell? It doesn’t get much more important than this. You may have spotted a gap in the market for something like sustainable gym clothing, or you may be starting with a completely blank canvas.
Whichever it is, you’ll probably want to carry out some market research and nail down the segment that you’re going to be entering. The last thing you want to do is try and enter an already saturated market that’s highly competitive without room for new entrants.
Decide on a name
Once you’ve decided what you’re going to sell, you’ll need a name for your brand. There’s no right or wrong answer here. For instance, you might go down the route of using your own name as other successful brands have done – see Ralph Lauren, Tom Ford, and Tommy Hilfiger.
Alternatively, you may want to choose a word or phrase as your brand name, examples include The North Face and Under Armour.
Many brands today like to include a geographic location in their brand name such as Avant Garde Paris.
Register your business
Before you start selling, you’ll need to register your business. The process for this will depend on what country you’re based in.
In the UK you’ll need to choose a legal structure and, depending on what you’re selling, you’ll need to explore insurance and licenses.
Find a supplier
If you’re in the fashion industry, one of the most important decisions you’ll need to make is selecting a supplier. This will determine the quality and price of the product that you are selling, two factors that can make or break a fashion brand.
Finding a supplier in your home country can be a selling point to potential consumers, although the cheapest suppliers can usually be found in countries like China, Bangladesh, India, and Turkey.
Determine your price
The final necessity before you can start selling your product is determining the price at which your garments are going to be sold.
Your niche will probably give you a ballpark figure. For instance, if you’re selling premium t-shirts, you’re not going to be selling for less than £100.
On the other hand, if you’re selling budget sunglasses, you’re price is going to be lower than £10.
Marketing
Finally, you’ll need to grow the brand. This is where the real work starts. Building a strong presence on socials is crucial for fashion brands today, consider both organic and paid strategies for growing on socials.
You might also want to consider sales at certain times of the year. For example, dropping a Men’s hoodie sale in Autumn might be a good option.