Janet Engle

How to Open & Operate a Financially Successful Fashion Design Business

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  • ririnrinurahas quoted7 years ago
    If you are artistic and interested in fashion, working for yourself may sound tailor made for you. Keep in mind that owning a design business requires more than creativity. Business and technical skills
  • Ксения Маренниковаhas quoted9 years ago
    Some sources for information within the fashion industry include:
    • U.S. Department of Labor, Bureau of Labor Statistics (www.bls.gov)
    • The American Apparel and Footwear Association (www.apparelandfootwear.org)
    • U.S. Census Bureau, County Business Patterns (www.census.gov/prod/www/abs/cbptotal.html)
    • U.S. Census Bureau, Economic Census (www.census.gov/econ/census02/)
    • U.S. Census Bureau, Monthly Retail Trade and Food Services (www.census.gov/mrts/www/mrts.html)
    • U.S. Census Bureau, Current Industrial Reports (CIR) MQ313A-Textiles (www.census.gov/cir/www/313/mq313a.html)
    • The International Trade Administration, Office of Textiles and Apparel (http://otexa.ita.doc.gov/msrpoint.htm)
  • Ксения Маренниковаhas quoted9 years ago
    The executive summary hits the main topics from the entire plan:
    • What is the business?
    • What is the purpose of the business plan?
    • Who is running the business?
    • Where will the business be located?
    • Why is there a need for the business?
    • How will the business make money or pay back the loan?
  • Ксения Маренниковаhas quoted9 years ago
    A good business plan should grow and change with your business.
  • Ксения Маренниковаhas quoted9 years ago
    Unfortunately, new business owners tend to wait until their business has grown too big to manage before they write a plan. They construct a business plan to address problems, not to prevent them.
  • Ксения Маренниковаhas quoted9 years ago
    Once you have a working business plan, it can serve as a map to keep your business on track.
  • Ксения Маренниковаhas quoted9 years ago
    Most loans are negotiable, so do not be afraid to ask for specific repayment terms.
  • Ксения Маренниковаhas quoted9 years ago
    Although personal savings is the first place to look for startup capital, you do not have to be wealthy to start a fashion design business.
  • Ксения Маренниковаhas quoted9 years ago
    If you will be manufacturing the clothes you sell, you may need:
    • Sewing machine
    • Serger
    • Knitting machine
    • Linker
    • Shelving and storage
    • Cutting table
    • Workbench
    • Directional lighting
    • Notions
    • Embroidery machine
    • Dressmaking or tailor’s bust form
    • Pattern paper
    • Grader’s set square
    • Fabric/fiber
  • Ксения Маренниковаhas quoted9 years ago
    Think about the image you want for your business. Do you want potential customers to see you as artsy, earthy, sophisticated, fresh, or sexy?
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