Start Online Fashion Brand
Quick And Easy Start
(094). The online fashion industry is thriving, and set to grow very much further over the next decade. It is incredibly easy to learn how to start an online clothing brand in the UK. Both the risks and the costs are very low. And there are no fixed retail costs involved. To set up an online retail store takes less than an hour and costs well under £100.
Domain Name
It pays to spend a little time thinking of a suitable domain name. This process of starting an online clothing brand is an exercise in which we are learning through the very real act of running the business. You can change anything about the business as you go.
Rather than do years of research beforehand, we are learning as we go. While you may decide later to start a completely new brand, building on your experience, you may find that you want to keep the name rather than start completely from scratch.
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Branding
In the fashion world, branding is everything. But you dont have to get it right from the outset. It can take years of research to decide on your own branding. There is no immediate rush to develop your brand identity. So, this can be a work in progress. Carefully research your target market, while keeping an eye on your competitors.
Running The Business
Running a successful online business however, is not as easy as the initial setup. Because of the ease of setup, there is a tremendous amount of competition. Having set up your online store, you can immediately start selling your products. This is where the real learning begins. And what determines your success or failure.
It is essential to have expert guidance and advice on your side as you will almost certainly fail without it. Although the set-up costs are very low, there are ongoing costs involved in designing and making your products.
Ecommerce
One of the beauties of having an online store is that you can make money while you sleep. With an online store you can work anywhere. You dont need a bricks and mortar office.
and the potential profits are high. and so are are the setup costs. To set up an online retail store is extremely low
Without fixed retail costs. To find a market for that brand. Niche products that would have been impossible to sell even a decade ago are now able to find willing buyers.
Fashion Or Clothing
There is a fundamental difference between selling fashion and selling clothing. Virtually all clothing has a fashion element, but fashion has a different buyer and requires a different marketing strategy. Functional clothing has a longer life span than fashion clothing, but still requires something to add to the perceived value product.
It can cost a lot more to develop functional clothing if it is a specialist product that requires a lot of effort to get right. But that extra expense can be well worth it because there will be little competition, but years of selling ahead.
Decide On Your Niche
It is important to decide your niche from the outset. Something that interests you and that you are passionate about. You need to choose a product that has good earning potential and that you can add value to. You probably already know what type of product you want to sell. And I expect you already have a number of great ideas ready to go.
Who Is Your Customer ?
The most important thing about running an online business is knowing who your customers are. You need to know exactly the type of person that you are aiming to sell to.
Full Time Or Part Time ?
Your first decision needs to be whether to work at the new business full time or part time. This partly depends on how much involvement you want to have with the business. You cannot physically do everything, so you need to work out where your pertinent skills are.
Employ Full Timers Or Freelance ?
Unless you have big financial backing, you wouldnt even consider employing full timers. Even with the backing, you would still be advised to outsource the vast majority of the work. It is far too bureaucratic and expensive to employ full time staff.
You may find that you have employed the wrong people at the wrong price to start with, but it can be extremely difficult to swap them later.
Funding
You dont need a great deal of funding in order to start an online fashion brand, although you do need a certain amount of funding to keep adding products and to develop those products. But fashion isnt the easiest business to secure funding. It is important to prove yourself first by testing the waters.
Test The waters
With your new online fashion business you can start testing your design ideas. You need to learn quickly to find out what works and what doesnt . But this needs to be a gradual process. You need to learn quickly on the job rather than just through reference books.
Minimise Returns
One of the most important things to consider with an online clothing business is to minimise returns. Obviously you need to make sure that the product you are supplying is of acceptable quality and the right size. But some designs lend themselves to online retailing, while others dont.
You need to describe your product accurately as well as adding photos to illustrate the look and fit.
Take It To Market