Despite the uncertainty that the world is facing now due to the COVID-19 pandemic, launching your own clothing line has never been easier. And this is due to the rise in popularity of social media, which allowed entrepreneurs to reach their market through their online stores. No wonder young and fresh clothing brands are popping up every few months.
And if you’re planning to launch your own brand of menswear apparel, then it’s a must that you go on reading as we are going to reveal how independent menswear brands are being launched from scratch in today’s post and start your year right this 2021.
Development Of An Effective Business Plan
First off, you have to develop and implement your own business plan as this will serve as your roadmap on your way to your goals, at least for the next few years. This step is very crucial since it gives you an idea of what you need to do in order to ensure success in your business venture.
But at the same time you also have to be ready to make any adjustments as you are dealing with the fashion industry – which is an unpredictable market. This means you may have to tweak some details on your original plan, but the good thing is you were able to create a strong foundation right from the start.
Determining A Niche
After developing your business plan, the next thing you need to do is to determine your niche as most independent menswear brands do. Always remember that menswear fashion is vastly diverse, so you need to pick a specific niche to focus on and concentrate your efforts on that particular market.
For example, if you want to offer something hip, then perhaps you can develop a streetwear menswear brand. Or if you are targeting fashion-forward and health-conscious consumers, you can launch a menswear brand focusing on athleisure outfits.
The choices are endless. You just have to identify your niche.
Understanding The Market
Put yourself in the shoes of your target demographics and get to know their spending behavior, lifestyle, tendencies, aesthetic preferences, etc. This way, you’ll be able to create accurate menswear designs according to what your consumers will want to buy and wear.
Registration Of Your Clothing Brand
Next, you need to do the necessary paperwork to legitimize your business. In this step you have to take care of a few things:
- Select the type of business entity (LLC, Sole Proprietorship, S-Corp, etc.)
- Officially registering your business
- Securing business permit and license
- Securing an EIN or Employee Identification Number
Sourcing And Designing Of Outfits For Your Clothing Line
For beginners, this can be the most difficult part. What you need to do is to find the right fabrics and materials to be used, identifying the kind of outfits to be created, and combining the aspect of fashion and functionality as much as possible.
Once you have created your outfits to sell in your clothing line, the next thing to do is price your products accordingly.
The golden rule in pricing is this: Always maintain a balance between earning a profit and pricing items according to what your consumers are willing to spend.
Of course, prices are subjected to change according to how the market will respond to your brand.
And finally, independent menswear brands also have to take care of these areas before launching. So you need to take note of these things too:
- Partnering with the right manufacturer/supplier
- Determining where to sell your products
- Testing your product to the market
- Seeking the advice of an expert
- Get funding