We're always getting questions on how to reduce and manage costs. Starting a fashion line can be quite costly, so we've put together a few handy things to consider if you haven't already.
Use an Online Platform
Nowadays, easy access to online e-commerce platforms like Shopify, and social media and marketing channels like Instagram and Facebook means that starting your own fashion line has never been easier. In the past, a typical fashion line would easily cost at least $30,000-$50,000+ to start with. Imagine the cost of rent for a store, wages, the interior design for your boutique… And this doesn’t include production costs, then models and photographers and fashion campaigns… yep you get it.
Also, thanks to the digital age, you can start as big or small as you like! You could start your own range of designer shirts or dresses with a specially curated boutique line of your own unique designs. You could sell couture garments or you could sell 3-5 signature styles and market to whoever you want. You no longer have to hit the market with 12-24 ready to wear garments with sizes ranging from XXS – XXL.
This means, you just have to afford the main components of design + making + producing! If you are able to design your own garments in house you not only retain creativity and ownership of your designs, you also save money! Then the costs associated with pattern making and sampling can range from $50 - $500 each depending on the complexity of your garments and the types of materials you use, the level of expertise of your pattern maker and manufacturer, and the location of manufacture.
Manage your Production Risk
The main cost and risk involved in starting your own fashion line is production. Most emerging fashion designers cite the most difficult challenge is finding a manufacturer, then being able to partner with the right one to ensure that their designs are created to their vision. Sometimes, the manufacturers struggle to replicate the ideas and concepts that designers have. This is why the pre-production steps are so important. Careful planning and communication reduces time, money and ensures a successful production run!
Project Manage Carefully!
Being able to manage a timeframe is important also. Some manufacturers may be booked up for months in advance so you need to plan any necessary deadlines around this. E.g. if you wanted photographers or fashion models for your fashion campaign, you may have to organise this only once you have certainty and clarity over your production timeframes.
The cost of managing a business and marketing can be kept to a minimum in this digital age. Make use of free mediums to get the word out there, e.g. social media channels and blogs. You can find freelancers everywhere at any budget range to help you design work logos and brand your business.