I have this clothing line idea that I have been putting together for the past 2-3 months and it is very uncommon and unique and I think it will take off (Googled, did my research. Very uncommon). Is there any advice any small business owners or small clothing line starters have that I can use on my journey? Why is it that some small clothing lines never blow up? What should I avoid? Any advice on steps to take? Timeline? Thanks
I don’t think you have done your research..
Why is Mossimo sold at Target? Mossimo is one of the leading US designers, went bankrupt and sold the label to Target.
How many times as Michael Kors filed bankruptcy? I believe 2.
American Apparel = a leading US brand since 2004 or so… during those 9 years how much of that time have they been on the brink of bankruptcy = multiple times they have had to get 13th hour funding to structure their debt in order to stay in business. What this means is they have days, as in less than 7 to get new funding or they would be closed.
I’m a niche clothing store owner = my advice – when you start you have money to start, start up takes a lot of money, by the time you go to market your funds are usually gone, but you still need money
= from the start plan your go to market strategy so you still have money when you get to that phase.
People have to buy your product – Inadequate Market Research
Lack of Demand – Contract Cancellation
Inadequate Working Capital
Not enough outlets surely is a big problem. People want to see and touch if they are not familiar with a brand.