The clothing industry is huge and offers great opportunities for creatives who have an eye for fashion and a flair for business. It’s also a notoriously competitive sector, but one that has an almost infinite number of different niches and markets to exploit.
Whether you want to become the next big fashion house, or you want to print t-shirts on demand, there are a few principles about running a clothing business that you’ll need to know if you want to increase your chances of success. Here are a few tips for developing a successful clothing brand.
Start Small
You want to start small to limit early expenses and test the market. This also allows you to build your brand, and start with what you do best.
Some brands started with denim only, whereas others started with bags or hats. Make sure that you pick one item that you want your brand represented by, and that will set the tone for the rest of your collection.
Stay on Top of Your Finances
If your plan was to go the traditional route and open your own store, you have to make sure that you understand the financials first. It is estimated that it can cost you around $100,000 on average to open your boutique.
This includes things like space and other costs like licensing fees, utilities, or even overlooked expenses like mannequins. When buying mannequins designed to mimic the male form, you have to be prepared to spend a few thousand on mannequins alone if you want quality. So, make sure that you’re aware of the actual costs related to launching, promoting, and maintaining a retail location before you make the jump. Maintaining a retail store means having the right shopfitting tools, such as heavy duty clothes rail, mannequins and more.
Know Who You’re Going Up Against
Take a look at your competition - look at what type of marketing efforts they’re deploying, check out their social media, and look at their websites and branding.
Also take a look at their loyalty programs, selection, and promotions if they have any. Sign up for their newsletter. Check if they offer free shipping, and look at their shipping policy. These are all things that will allow you to get more insight into their marketing strategy, and ideas on how to build yours.
Have a Diversified Marketing Strategy
There are tons of ways that you can market your business. Some will automatically think of social media, and it can be a great tool for getting attention to your brand. But that doesn’t mean that you should put all your bags in the same marketing basket.
For instance, trade shows are still a great opportunity to find clients. You have much more chance of finding a buyer for a major retailer in a place like this than on Instagram. So, make sure that you consider all of your options and don’t just stick with what is hot or what you think will work.
In addition to social media, try to look at things such as PPC marketing, YouTube, and press releases. You could also look at a few influencers. Gaming influencers are some of the best when it comes to releasing clothing lines, and they are often not as costly, so don’t be afraid to think out of the box and try to work with people from all sorts of demographics. You just never know with whom you might end up being a hit.
So, if you were thinking of launching your own clothing brand, make sure that you remember and apply those tips. Also, try to learn as much as you can about the business, and get in touch with people who’ve been there so they’ll be able to show you the ropes.
