Creating A Detailed Start Up Fashion Business Plan

(No Guesswork)

There are far too many generic articles on how to write a fashion business plan for your start up.

But they’re never really of much use because at the end of it, you’re still stuck scratching your head. Still wondering where you’ll get all that detailed, specific information from.

They only tell you what should go in your fashion business plan.

But filling in a business plan template without doing detailed research leaves all your business planning to guesswork and baseless speculation.

I’d like to help you do that research.

I’ll be taking you through the steps to create a fashion business plan as well as where to get well researched information to base your startup fashion business plan on.

These are the usual steps used to create a business plan…

  • Step 1: Executive summary
  • Step 2: Company overview
  • Step 3: Market analysis
  • Step 4: Manufacturing process & operation
  • Step 5: Marketing and distribution

And these are the steps we’re going to follow to find the detailed information needed to complete these steps...

  • Intro: Business Basics 101
  • Step1: Defining Your Business Concept
  • Step 2: Market Research & Analysis
  • Step 3: Making Financial Projections
  • Step 4: Making Your Business Brandable

As well as looking at some Business Building Tools.

I’ll be using the 2nd list to research the information we need to fill out our fashion business plan. And this is how the 2 lists map onto each other…

How to research detailed information to fill in a fashion business plan.How to research detailed information to fill in a fashion business plan.

Now let’s see what each section contains. You can also click on the headlines to read more on each section.

Introduction: Business Basics 101

Have you ever wondered about starting a clothing business from home? Maybe you wonder if you could start a clothing business with no money? If not, then just how much money does it take to start a fashion business?

In this section I highlight why as a small business owner you should put off production even for the first few years. And an alternative risk-free business building approach that is more suited to fashion startups.

Warning: this is not zero to 100.

We’ll discuss why most small businesses fail and the lessons you can learn to do better with your start-up fashion business. Hint: it has to do with rushing into business without a plan and thinking of money too soon.

Step1: Defining Your Business Concept

Everyone will have some idea about what they want their fashion business to be about, but how can you tell whether or not that idea can earn you an income?

In this section, you’ll strike the balance of doing something you love that will also be a profitable business.

You may have all the passion in the world for pink leggings embellished with rhinestones.

But if no one else wants them, you would end up with a bunch of dead stock that would never sell.

There goes your investment. Never to be seen again.

In this section I’ll show you how to find out if your fashion business concept can be a winner. And if your initial idea is not, finding one that will be.

This step will allow you to find a need in the market that interests you and also has good profit-making potential.

Click here to read more…

Step 2: Market Research & Analysis

At this point you should have an educated direction about where your fashion business is going.

Fashion is such a broad industry.

And there are hundreds if not thousands of other fashion startups out there trying to do exactly what you’re trying to do.

You would want to take this opportunity to find out in more detail whether or not this particular line of business is worth pursuing.

For example, how much demand is there for a particular product or service?

How much competition will you face in this area?

And of course, the balance between the two.

In most of the articles I’ve read, their advice on market research is very vague.

Your mom and/or neighbors liking or disliking your ideas is not enough to build a business on. You’ll need a more concrete foundation than that.

In the method I’ll show you, you’ll be able to very easily analyze real time data so you can make an informed business decision.

And from there decide where to take your fashion startup business.

Click here to read more…

Step 3: Making Financial Projections

Have you already produced an item and are now forcing it on unsuspecting strangers? This is the point where you might begin to wonder - is the clothing business profitable at all?

Far too many fashion businesses put the cart before the horse this way.

If you intend to actually make money from your business, you’ll have to have happy customers.

That’s why it pays to think about the money later – as ironic as that seems.

This section will help you think through what products and services will actually make you the most money as well as consider a diversified monetization strategy for your business to boost your profits. Most small fashion businesses aren’t thinking about this.

Step 4: Marketing & Attracting Customers

Now that you have some products or services in mind, you’ll have to think about marketing.

The fact about marketing is that, unless you are willing to constantly pay for ads, more low-cost high yield methods make the most sense for startup fashion business.

You’ll also find out why I suggest that marketing should actually be the first step that you tackle before anything else.

Throughout each section, I also talk about my favorite business building tools including website builders, keyword research tools and business building courses.

You’ll learn what I like about them and what I think can be improved.

Business Building Tools

In this section I review & compare some building tools including...

  • website builders
  • keyword research tools and
  • business building courses

I’ll share what I personally use including what I like about them and what I think can be improved.

Things to remember when creating a fashion business plan…

  • The start up stage of a business can last up to 3 years. In that time, it safest not to expect much of financial returns. Even if you do make sales, much of that will likely go back into growing your business.

  • Starting an online business keeps starting costs particularly low, below $1000 by my calculations. This kind of business also carries the lowest risk with potentially the widest potential audience and therefore profits, if you do it right.

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