3 Things you need to know before starting the Business Of Fashion

3 Things you need to know before starting the Business Of Fashion

An overwhelming number of startup fashion businesses fail after they get started simply because they failed to figure out some basic things required to run the business successfully.⠀

In the last few years, South Africa, Kenya, and Nigeria have become the hubs of startup establishment. According to the Venture Capital Report of 2019 by WeeTracker, Nigeria has the maximum score of Venture Capital followed by Kenya and South Africa.

However, in terms of trends, Nigeria has experienced more startup business shutdowns at 61.05%, Kenya at 58.73%, and South Africa at 54.39%.

According to the data from the US Bureau of Labour Statistics, 20% of small businesses fail in the first year, 30% in the second year, 50% in the fifth year while 70% fail within the first ten years. These statistics show that there is an increase in the failure rate hence it is a global concern.

Your business does not have to be on the list of the failed business.

Here are 3 things you need to know before you start the Business of Fashion;


⠀1. Know Your Niche Well

Firstly, you need to determine the niche you want to focus on in the Business of Fashion and avoid pivoting frequently. This will help you establish your brand and be known as an authority in that area. For instance, if you’re launching a plus-sized women’s wear brand or Corporate Clothing Retail, focus on selling those items only.


2. Identify Your Target Audience

Many fashion brand startups fail because they do not know their target market.  This article on How to define your target market explains what you need to do before starting.⠀

A successful fashion business requires an understanding of one's target market.

Avoid making this mistake. Research your target customers’ social, financial, educational, and other backgrounds. This will help you deliver the choice and needs of your customers. For example, if you identify pregnant women as your target consumers, then you should create fashion items as per their choice of colors, trends, comfort, etc.


 3. Know What It’ll Cost

Lack of funding is surely one of the reasons many businesses fail without realizing their full potential. In order to avoid such a situation when starting out, have a realistic budget of how much money you need to set up and run your business. After you have your budget ready, work on getting a significant portion of it ready.⠀This article on important costs to plan for will surely help you.

Starting a Fashion business

Starting any kind of business requires tenacity, endurance, and dedication. Setting up the business of fashion is all the more challenging because this is a hyper-competitive industry and a very complex one as well even at the smallest of scales that’s why you need to be prepared from day one.⠀

What are your thoughts?…. Let’s discuss …⠀


Do you know we offer Online Courses in Sewing and Patternmaking, Pattern-making only, Sewing Techniques for Perfect Finishing, Origami Patternmaking and so much more?  And you can register anywhere in the world! ⠀⠀

Check out our Online Courses Here: https://martwayne.com/online-fashion-courses/

Recommended Resources

Fashion Business Idea: Corporate Clothing Retail

How to Start a Clothing Factory

5 Ways to Build Buzz for Your Fashion Business

Fabulous Ideas to Market Your Clothing Brand Online

Fabulous Ideas to Market Your Clothing Brand Online

The online clothing market is undoubtedly saturated. With so many clothing brands launching every day, it can be difficult to stand out from the pack and be noticed by consumers. But one of the best ways to make your mark is through online marketing, as it can help increase brand awareness, and you can easily track if your efforts are working or not.

As mentioned in our ‘How to Define Your Target Market’ post, it imperative that you tailor your marketing and sales efforts specifically to your target market in order to generate sales. Here are some tactics you can try out:

Highlight inclusivity

Inclusivity is not something to be seen as a trend—but a movement. It’s something that all brands must try to embrace and celebrate. Fashion brands, especially those that sell clothing, should have a wide range of sizes to accommodate most, if not all customers. And of course, your marketing should also reflect that with your choice of models.

If you’re selling dresses for small-framed women, your marketing materials should have “real” models in them instead of mimicking stereotypical ads that only feature models of one size. Pretty Me’s guide to the best dresses for petites notes that petite girls have a very beautiful and unique body structure, and it’s only right that they are represented. Tailor-fit some designs for the petite body structure to really make the match stand out. On the flip side, if you offer plus-sized clothing, the models you hire should not make your market feel alienated. At the very least, the clothing pieces you have should be worn on at least three types of models so customers can have a realistic idea of how the product will look on them.

Collaborate with an influencer

If you’re trying to target or cater to a niche market, it’s better to work with influencers like fashion bloggers and vloggers who have a considerable following. These people have a large following for a reason—their audience looks up to them and they respect their views and opinions. Influencers can do wonders in increasing your sales by recommending or even just reviewing your items.

When looking for influencers to collaborate with, A Small Business Trends article notes that you must first check their relevancy so you can be heard by the right audience. Have a look at the topics they write or talk about, the content they share, the brands they have worked with, and if their followers are in your target audience in terms of demographics and location. It’s an extra step, but choosing the right influencer is crucial so you can ensure that they can help you drive engagement and conversations.

Host a giveaway

Conducting giveaways, especially when properly done, can result in a lot of exposure for your clothing brand during the first weeks of launch. The initial period is critical because it’s all about gaining brand exposure, so you have to make sure that you come up with unique ideas for giveaways. It can be your own slate of products, or it could be other prizes. The only thing to keep in mind is that you should be promoting the giveaway as hard as you can on your website, social media channels, and other PR.

It would also best if you made it unique so more people would be compelled to join. For instance, a brand called Ringly that sells fitness trackers modified their giveaway by raffling off two products to the winner and their BFF. The giveaway became more fun because it was a shared prize, thereby increasing the number of winners and doubling engagement, too.


This article was written exclusively for martwayne.com

by Abi Cooker

Recommended Resources

Do I need a website for my business?

How to Use Storytelling to Sell Your Brand

3 word of mouth marketing strategies to grow your fashion business

How to Price Your Work & Make a Profit

Join me at 10am tomorrow, 9 June on 98.9 Kiss FM Lagos.

Join me at 10am tomorrow, 9 June on 98.9 Kiss FM Lagos.

Yes people! Join me tomorrow at 10am on 98.9 Kiss FM Lagos where I will be discussing “Factors to Consider Before You Quit Your Job for Fashion”. If you are currently at crossroads and not sure what to do, you need to tune in! And you can also call into the show to ask questions on 0809 899 8898. Cheers!

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