- The Fashion Expert®
- Oct 11, 2023
- 4 min read
If you're new here this blog may seem a bit odd given I'm here to encourage and facilitate startups with their design journey and brand launch!!
But, once you get to know me you'll understand I'm passionate about sharing a very realistic view of the fashion industry and the road ahead of you as a startup founder. I believe if you're armed with the right knowledge it's 100% accessible to you.
The fashion industry is often portrayed as glamorous and alluring, with dreams of creating iconic clothing lines and influencing trends. However, behind the glitz and glamour lies a challenging and highly competitive business. When you're new to the fashion industry and considering starting your own brand, it's crucial to be aware of the hurdles you might face. In this blog post, we'll explore five reasons why you might want to think twice before diving headfirst into the world of fashion entrepreneurship.
1. You Have No USP.
The fashion industry is oversaturated with countless brands, from established giants to emerging startups. Breaking through this clutter and gaining a foothold can be exceptionally challenging.
Newcomers often underestimate the sheer number of brands vying for consumer attention, making it a tough environment for those without a clear, distinct vision.
It often takes years of hard work, dedication, and a unique selling proposition to stand out.
That's not to say it's not possible for a startup to be successful and having that unique selling point is key. What sets your brand apart from the rest? What is different about your products? What solution do you offer to your consumers? Getting clear on this is key. Without it, you risk being lost in the noise.
2. You Have A Super Low Budget.
Creating a fashion brand involves substantial upfront costs, including designing, manufacturing, marketing, and distribution. Without proper financial planning, you may find yourself up against it financially before even getting started.
There are lots of things you can do to start a brand on a shoestring and there are even more things you can waste your money on.
Make sure you get the right help to understand how to do it correctly, how to avoid the costly pitfalls, and what you really should be investing in to make it all work.
3. You're Just Playing At It.
Are you committed to it? For every brand I see launch, I see 10 clients who are really just flirting with the idea. Tough love time - ask yourself are you really serious about this or did you see someone on Instagram with some branded hoodies and think it looks "fun"!?
If you've been thinking about this for a long time and the same startup idea keeps coming back to you then this is a good sign you're meant to pursue it and that your idea has legs.
Another great indicator for this is to think about how you'd feel if you saw another brand launch your exact same idea. Would you be gutted you didn't get onto this sooner? If not then it's time to walk away.
Don't confuse a really great business idea with shiny new thing syndrome.
4. You're Here To Make A Quick Buck.
Yes, it's possible to make a profitable business by launching a fashion brand. But it won't be an overnight success. It takes time, planning, and the right people on your side.
I have the same conversation every week during discovery calls where I have to let clients down gently. You're not going to be able to launch in the next 2 months. Even with ready-made garments, you still need to factor in sampling and shipping time. And let's face it, do you really want to splurge your startup capital on a generic product available to anyone wholesale? Probably not. Hopefully not!
Triple the time you think it's going to take, learn about the whole process from concept to production, and what's involved in marketing the product once you have it.
5. You Lack Discipline & Commitment.
If you're anything like most of the startups I work with, then starting a clothing brand is probably a project you're trying to do alongside something else that takes up a large chunk of your time such as a 9-5 job, your family, or both.
If that's the case you really need to carve out some time each week to devote to your business idea. Slow and steady wins the race every time.
There will be weeks when you make progress and others when it doesn't happen. That's life. But if you're someone who constantly tells yourself you've no time yet continually prioritise doom-scrolling and reality TV then you should question what is important.
I've seen the most inspirational founders who despite their crazy schedules just get it done proving that if you really want it, you'll make time for it. Usually, they opt to have some mentoring that will keep them on track and give them the accountability they need to fast-track their startup progress.
If you need help getting clear about any of this then why not book in for my Power Hour session? During this video call, we can chat about the potential and viability of your business idea before you plunge into unknown waters and waste your precious startup capital.
You'll get access to a recording of the call as well as some action points (if applicable) to take away with you to help you get started.
If this sounds like a sensible place to start you can find out more information here.
See you in the front row,
Michelle.
