How to Start a Small Business in Fashion

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A small business in fashion can either be a small, privately-owned boutique, a small line of clothing or accessories, or a fashion PR company. Getting started in the fashion business can be very difficult because the industry is highly competitive. However, the good news is that the fashion industry has been growing and thriving lately, and there is a real need for new and innovative businesses in fashion.

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Instructions

Difficulty: Moderately Challenging

Step1

Make a business plan. Even if your business is small, you still need a business plan to get you started. It should detail everything about your business including your objective, necessary items, employees, product prices, etc. When starting a fashion business you may need to employ a design director, a creative director, a pattern maker, a sample maker and fashion manager.

Step2

Determine your start-up costs and expenses. Fashion can be a very costly business with lots of expenses. Make sure you have an organized list of costs and expenses before you embark on your business venture or you may end up bankrupt. Expenses may include rent, decorating, payroll, possible furniture, cost of fabric and materials as well as many other miscellaneous items.

Step3

Obtain funding. You may already have funds set aside or you may need to get a business loan. Once you have funds, find a place to set up shop, literally. You may rent out some retail space if you're interested in opening a small boutique as your business, or you may need factory or office space if you plan on designing a line or starting a fashion pr company.

Step4

Choose a name for your fashion business, and trademark it. This will ensure that no one can infringe on your copyright. You may need a lawyer to help you with all trademarking and copyrighting. Pick a name that describes your fashion business. A boutique name can be something whimsical and fun. A fashion pr company should have a neutral, but easy to remember name. Your own clothing line should most likely bear your own name. Also, purchase a domain name for your small business in case you want to create a website.

Step5

Open your business to the public. Begin by advertising locally to spread the word. Advertising will also help you get your first clients whether they are consumers interested in your boutique, buyers interested in your designs or fashion houses interested in your PR services. Consider advertising in your local paper or city magazines.