As a fashion designer, there are two things you should know before starting a fashion business -creativity and commerce. Many designers, though talented struggle with managing their business efficiently.
In Nigeria, successful fashion designers can attribute the success of their businesses to either employing good business personnel or learning how to be an entrepreneur themselves.
Business comes with risks and fashion businesses are Inclusive. However, you can manage or avoid some of these risks when starting your fashion business with these tips.
1. Be an entrepreneur
Being a creative and mind-blowing fashion designer doesn’t translate to being a successful fashion designer.
Your craft is only relevant when it is needed and you can deliver or show your skill.
As a fashion designer, don’t shy away from calculating expenses over time. Without profit, your talent cannot thrive.
Be intentional about money matters when starting a fashion business. Build healthy financial relationships with your clients.
2 . Know your clients
When starting a fashion business, it is mandatory to know your clients. Your clients are the users of your designs. They are people who will purchase or buy from you.
To know your clients, you have to know the aspect of fashion design you intend to start. Either, men, women, or children fashion or everything.
You should have in mind at least 10-20 people who will patronize you if you are to start your business today.
3. Set the Right Prices
Prices are very important in any business. It is an important step to take when starting a fashion business.
When you want to set prices, you need to carry out a market survey. Find out how much the price of what you intend to sell is worth in the market.
You can also calculate your total cost of production plus gain. This calculation will help you to stay on the right track.
4 . Capital
You cannot start a fashion business without having a decent amount of money.
Capital is needed to start, run and maintain a fashion business. It is not a type of business you can start without capital as a fashion designer.
You need to know how much you have – budget. With your budget, you can create a list of everything you need money for shopping for rent, buying fashion equipment, etc.
Your capital is very important when starting a fashion business.
5. Promote Your Brand On Social Media
When starting a fashion business in this current dispensation, you need to be social media inclined.
Small, medium, and large fashion businesses have an online presence. They don’t have dormant or boring social media pages, they have active ones.
Social media is a powerful medium. Most of your clients are on social media, especially the younger generation.
Social media apps like Facebook, Instagram, WhatsApp, Twitter, YouTube, TikTok, and Snapchat are great ways to promote your business.
To capture it all, it is worthy to note that starting a fashion business in Nigeria, as a fashion designer requires a simple mathematical equation.
Creativity + Commerce Successful fashion business.Featured Image source: Real Business
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