Creating a fashion business: what you need to do first

FASHION | BUSINESS 

From the outside, the business of fashion is perceived as that of glitz, travel and fun.

The industry has captivated young people seeking its magical world. However, the fashion business is not all about glitz or glamour. 

"I have done the glitz, got home and have to figure out how to put food on my table," says Anita Beryl a Ugandan Fashion Designer and Creative Director of Beryl Couture. 

Speaking at the Opportunities Are Here (OAH) Project-X master class on creating a fashion business, she outlined the highs and lows of creating the business of fashion. 

Opportunities Are Here is an initiative harnessing the huge potential that exists in Africa.

It is training and turning young job seekers (18-35year of age) into job creators in fashion and modelling, through mentorship on an online TV show co-produced by Vision Group's Urban Television. 

For some of the youth, fashion dream is bound to come true. 

So what must you do to succeed at creating a business of fashion? 

First, know why exactly you are getting into the business 

Is it for the good life, traveling the world, the fancy things, fame? All the glamour comes with hard work.

"If you ignore hard work, you will get into the business for the wrong reason," says Beryl. 

"Those who succeed don't see fashion as entertainment, or a glamour world, but as a real business. They love fashion and believe in it to be a rewarding venture that can put food on the table, provide a livelihood, just like any other business," she adds. 

According to Beryl, you can start a fashion business without being a designer or seamstress. But it helps when you can do all of that. 

 Next, decide your niche before you start investing 

The business of fashion is big, there are many areas to specialise in that gives you money.

"The industry is not just about being a fashion designer." 

"You can choose to become a fashion photographer, tailor, fashion writer, or sketch designs. You don't have to be all these things, choose what you are passionate about," says Beryl. 

As a fashion designer, it is possible to specialize. It could be in children's clothes, casual wear or just jeans.  

"For nine years now, I have specialized in evening gowns and wedding dresses." 

"You can fulfill your passion by creating the business or working for a fashion brand that already exists and build your niche," she advises. 

According to Beryl, if you choose to start a business focus on the gap in the market so your venture is sustainable. 

It's Important to decide the niche before you start investing heavily. Your niche should be something you see yourself doing in the next 30 years. 

She adds that once an entrepreneur is well-established in their niche then they can consider diversifying. 

Plan 

Fashion is a big business in Africa and globally. The combined apparel and footwear market is estimated to be worth $31 billion, according to statistics from Euromonitor International. 

"To tap into this market, once you have your niche, plan," says Beryl.   

"Don't plan small, but big. Dream big not to limit yourself. If you want 20 branches put it down in your plan it inspires you to work hard to get there. Plan how the business will be run, where you want to be in a year or so," advises Beryl. 

When you have everything planned it becomes very easy.

"But don't get carried away. It pays to start small you build a brand business that is not easily shaken." 

"The fashion industry is unpredictable. If start big and doesn't work, and you need to make a shift you lose so much.  Start small to give yourself time to learn, and build firm foundation to deal with bigger business in the future," she advises. 

Focus on your product quality and learn on job. Don't be swayed by trends to become famous quickly.

"It can bring you down. Plan for your team, how you want your entity to work and get your dream realised. If you work alone, you won't grow.

Have a manageable team you are able to guide and empower to deliver your dream including sales people, marketing and administrator," says Beryl.  

"I would say start small even sh1 million is enough to start or on the high side sh5million," says Christine Akello Bradshaw, a fashion stylist, collector and personal shopper, and owner of Tina Brad Store In Kampala.  

Akello advises that one invests in a fashion store only when you have stabilised and made your breakthrough. 

To succeed in this uncertain times 

Be quick to interpret the tide and make the necessary changes. 

"During these uncertain times of the Corona virus consider doing casual and office wear, clothes people need every day instead of bridal gowns." 

That's the shift I have had to make because  business has slowed" says Akello. 

Embrace the digital wave 

"I would also say take your business online, get models for your outfits, have a good photoshoot and put the pictures on line to advertise your business on different social media platforms. You will get clients online," says Akello. 

In turn, you won't have to pay the annual license fee to operate a store in the city if you are working from home. 

Akello advises that one invests in a fashion store only when you have stabilised and made your breakthrough. 

It's also cheaper to start off as a fashion collector then move to become a fashion designer. It's at this point that you can buy the machines. 

Create a brand 

"Once ready with the business plan embark on creating a brand. Pick a name that suits your target market, test product put samples out there, see reception and be open to feedback," states Beryl. 

From Beryl, fashion doesn't pay immediately but it does pay later and really well.

When you have tested market you can start business and build your brand. 

But you must earn from it. Look at pricing what materials are you using, how much are you getting of it, how much is going to rent and tax. 

"When you get the business off the ground,  start learning afresh. You have to learn to make the business profitable and not just work hard and take nothing home.

This is where a lot of us fail. You work hard, clients are happy, but you don't see money or any growth," says Beryl. 

She says the business of fashion must make give you profit. 

"If you can't see income, hire an accountant to make sense of the finances. 

When you break even, the business of fashion pays even though at a later stage." 

"It's important to know your market, take on work you can manage. If you take everything and don't deliver on time, clients will shun you. You have to be reliable and honest with work. Its key in the business of fashion," advises Beryl. 

She says when joining the business of fashion, pick the good practices, but do not copy.

"When you put your heart to your work it shows. Your brand speaks for you, tells who you are. This represents your brand well. Get mentorship to master how to profitably operate the business and profit," Says Beryl. 

She says the fashion industry is unpredictable. 

"Seasons change, one time you are flying, next you are stalling. Nonetheless, be confident; love yourself and what you are producing. Get mentorship to succeed in creating your fashion business," she says.