Hi
I want to set up my own clothing brand, ive got the design but im wondering if anyone can offer some advice? Setting up, start up costs, marketing, web site, dos and donts, general costs?!
Thanks
Ok, the first step is to look at what your competition is doing. That means you have to research what high street retailers are offering and then have a look on the internet (including Amazon). For your marketing strategy you need to use Porter`s Generic Strategies:
Cost Leadership: This is when a firm tries to be the cheapest in the industry. This is not suitable for you unless you become the market leader as you wont have the largest economies of scale to win out in any price war.
Cost Focus: This is where you seek to be the cheapest to one or a limited number of niches in a market. By not having all the complex operations of larger firms you can keep your costs lower and be cheaper than them. As a new start-up this strategy is open to you. Find a niche which is profitable, which is largely unsatisfied by your rivals, and then offer them the cheapest.
Broad Differentiation: This is for major companies trying to differentiate themselves on things like superior quality or flexibility across an entire industry. These brand names take time to build so this isn't open to you.
Differentiation Focus: This one is open to you. Its about finding one or a limited number of niches. But the customers in it arent after the cheapest. There are after some form of quality or flexibility or other form of differentiation not provided by the major companies. You focus on giving them what they want better than those major companies and because you arent trying to keep a whole industry satisfied (a niche instead) you can do a better job at it.
For example I saw one business where a woman with a heavy metal interest and clothes making ability created her own internet business selling heavy metal dresses. A niche where plenty of customers exist (female rock/heavy metal chicks) and who are largely unsatisfied (very hard to buy heavy metal and gothic clothing anywhere). She was charging a huge premium and making a fortune from the dresses she was making.
Look at your skills, abilities, and interests. Make a niche list. Without being biased try to pick out what will be the profitable ones and thats where you should start in business. You can start on Amazon if you wish, and if you are making a decent profit proceed to start up your own website. Then you need to let as many of the customers in your target niche as possible know about your existence.
Amazon charge FBA fees (fulfilled by Amazon fees) if using them, and packaging fees if they are boxing the sold stuff up. For a website targeting niche customers you can get a create your own drag and drop package for £50. What you will need is plenty of photos of the products done in a professional manner.
Also, one mistake a lot of start-ups make on their websites is they make it personal. De-personalise it. No one is interested in the business owners ambitions, dreams, or life story. They are only interested in your product.