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How to Open & Operate a Financially Successful Fashion Design Business

How to Open & Operate a Financially Successful Fashion Design Business

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How to Open & Operate a Financially Successful Fashion Design Business

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380 pages
6 hours
Dirilis:
May 9, 2008
ISBN:
9781601381927
Format:
Buku

Deskripsi

Opportunities in the fashion design industry are expected to rise about 10 to 12 percent through 2013. You do not need to live in New York City, and you can start out small or even part time. Ralph Lauren’s Polo empire was established on a small men’s tie collection that he sold to Bloomingdales. Demand for fashion designers should remain strong, as consumers, hungry for new fashions and apparel styles will spur the creation of new clothing and accessory lines. You will learn everything from the initial design and creation to manufacturing and marketing. If you are investigating opportunities in this type of business, you should begin by reading this book. If you enjoy working with people and keeping up on the latest trends, this may be the perfect business for you. Keep in mind this business looks easy but, as with any business, looks can be deceiving. This complete manual will arm you with everything you need, including sample business forms; contracts; worksheets and checklists for planning, opening, and running day-to-day operations. You will learn how to draw up a winning business plan and about basic cost control systems, copyright and trademark issues, branding, management, legal concerns, sales and marketing techniques, and pricing formulas. You will learn how to build your business by using low and no cost ways to satisfy customers, as well as ways to increase sales, have customers refer others to you, and thousands of great tips and useful guidelines. Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company president’s garage,

Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.

This Atlantic Publishing eBook was professionally written, edited, fact checked, proofed and designed. The print version of this book is 288 pages and you receive exactly the same content. Over the years our books have won dozens of book awards for content, cover design and interior design including the prestigious Benjamin Franklin award for excellence in publishing. We are proud of the high quality of our books and hope you will enjoy this eBook version.

Dirilis:
May 9, 2008
ISBN:
9781601381927
Format:
Buku

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How to Open & Operate a Financially Successful Fashion Design Business - Janet Engle

How to Open & Operate a Financially Successful

Fashion Design Business

By Janet Engle

How to Open and Operate a Financially Successful Fashion Design Business

Copyright © 2007 by Atlantic Publishing Group, Inc.

1405 SW 6th Ave. • Ocala, Florida 34471

800-814-1132 • 352-622-1875—Fax

Web site: www.atlantic-pub.com • E-mail: sales@atlantic-pub.com

SAN Number: 268-1250

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the Publisher. Requests to the Publisher for permission should be sent to Atlantic Publishing Group, Inc., 1405 SW 6th Ave., Ocala, Florida 34471.

LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: The publisher and the author make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation warranties of fitness for a particular purpose. No warranty may be created or extended by sales or promotional materials. The advice and strategies contained herein may not be suitable for every situation. This work is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If professional assistance is required, the services of a competent professional should be sought. Neither the publisher nor the author shall be liable for damages arising herefrom. The fact that an organization or Web site is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the information the organization or Web site may provide or recommendations it may make. Further, readers should be aware that Internet Web sites listed in this work may have changed or disappeared between when this work was written and when it is read.

A few years back we lost our beloved pet dog Bear, who was not only our best and dearest friend but also the Vice President of Sunshine here at Atlantic Publishing. He did not receive a salary but worked tirelessly 24 hours a day to please his parents.

Bear was a rescue dog who turned around and showered myself, my wife, Sherri, his grandparents Jean, Bob, and Nancy, and every person and animal he met (well, maybe not rabbits) with friendship and love. He made a lot of people smile every day.

We wanted you to know a portion of the profits of this book will be donated in Bear’s memory to local animal shelters, parks, conservation organizations, and other individuals and nonprofit organizations in need of assistance.

– Douglas and Sherri Brown

PS: We have since adopted two more rescue dogs: first Scout, and the following year, Ginger. They were both mixed golden retrievers who needed a home.

Want to help animals and the world? Here are a dozen easy suggestions you and your family can implement today:

•  Adopt and rescue a pet from a local shelter.

•  Support local and no-kill animal shelters.

•  Plant a tree to honor someone you love.

•  Be a developer — put up some birdhouses.

•  Buy live, potted Christmas trees and replant them.

•  Make sure you spend time with your animals each day.

•  Save natural resources by recycling and buying recycled products.

•  Drink tap water, or filter your own water at home.

•  Whenever possible, limit your use of or do not use pesticides.

•  If you eat seafood, make sustainable choices.

•  Support your local farmers market.

•  Get outside. Visit a park, volunteer, walk your dog, or ride your bike.

Five years ago, Atlantic Publishing signed the Green Press Initiative. These guidelines promote environmentally friendly practices, such as using recycled stock and vegetable-based inks, avoiding waste, choosing energy-efficient resources, and promoting a no-pulping policy. We now use 100-percent recycled stock on all our books. The results: in one year, switching to post-consumer recycled stock saved 24 mature trees, 5,000 gallons of water, the equivalent of the total energy used for one home in a year, and the equivalent of the greenhouse gases from one car driven for a year.

Contents

Preface

Chapter 1: Budgeting and Organization

Chapter 2: First Things First

Chapter 3: Who Does What When?

Chapter 4: Location, Location, Location

Chapter 5: Attire for the Bride

Chapter 6: Attire for the Groom & Wedding Party

Chapter 7: Invitations, Thank You Cards, and More

Chapter 8: Wedding Day Flowers

Chapter 9: Decorations and Accents

Chapter 10: Your Wedding Cake

Chapter 11: Food and Beverages for Your Reception

Chapter 12: Entertainment at Your Reception

Chapter 13: Renting Equipment

Chapter 14: Photography and Videography

Chapter 15: Little Extras That Mean A Lot

Chapter 16: Business Transitions

Bibliography

Dedication and Biography

I would like to thank all of the designers and fashion professionals who took time from their busy lives to be interviewed for this book, Angela Adams at Atlantic Publishing for her help and for giving me so much freedom to explore this topic, the drive-through crews at my local fast food restaurants for keeping me supplied with caffeinated beverages, and my husband David for his encouragement.

In addition to writing about business and science topics, Janet Engle is a marketing consultant, mom and Cub Scout leader.

Table of Contents

Preface

Throughout human history, most people wore clothing that was made in their own homes. In rural households, women sewed the family apparel out of fabric woven from fiber they had spun. Styles changed slowly as women developed new techniques and patterns, and then shared them with their neighbors.

By the mid-1800s, French couturiers, who were once only employed by the highest aristocracy, began to attract attention from British and American socialites. The Chambre Syndicale de la Couture Parisienne, the governing body of high fashion in France, was founded in 1868. It instituted rules to help protect couturiers’ exclusive designs from being copied by mass producers. These rules established fashion as a concern of only the wealthy. Styles changed with every season and staying en vogue was an expensive endeavor.

Paris was the heart of the fashion industry. Because of long transport times, American women at the turn of the 20th century struggled to stay in style. It was not until World War I cut off French exports that American fashion developed. Domestic production, along with the increased popularity of car travel, made fashion more accessible to the middle-class American woman. Suddenly, more customers could come to cities to buy couture-inspired clothing. Department stores and private dressmakers met the increased demand by offering semi-finished dresses, which women could have hemmed and altered to fit their figures.

During the war, women in the upper classes found the current style too restrictive for the active roles they played in patriotic and humanitarian efforts. Led by Gabrielle Coco Chanel, the fashion industry began producing comfortable, attractive, and functional garments. The line between day and evening wear became blurred, and the formal evening gown disappeared from the most fashionable closets.

After World War I, styles returned to more feminine lines, although women refused to give up the pockets and looser fits they had become accustomed to. Artificial fibers, such as rayon, gained acceptance, especially in the budding ready to wear market, and blends of natural and artificial fibers appeared.

The ready-to-wear market embraced the machines of the industrial revolution. As a result, clothing production became quicker and cheaper. Even through the Great Depression, most households purchased clothing instead of making their own. The late 1930s saw a revival of sophisticated and intricate fashions. The cinema became the major source of fashion information for the average woman. Once again, there was a clear demarcation between day and evening styles.

World War II was a challenging time for the fashion industry. Again, the world was cut off from French couture. In addition, fabric shortages and the need for factory space in Britain, promoted a make do with what you have mentality. Clothing became rationed. Out of necessity, versatile separates came into style. Because they cost fewer ration tickets than a pair of stockings, pants became popular among women.

Post-war styles blossomed like extravagant flowers. Influenced by abstract art and modern architecture, bold prints and structured cuts were seen at the couture houses. Accessories took on a more important role. The right gloves, hat, and handbag were considered as important as the perfect dress. As the wholesale industry became more organized, ready-made clothing was produced in higher quality at an even lower cost.

While the couture houses dictated fashion for the first half of the 20th century, the late 1950s styles came from the street. Young people had more independence and money of their own. They were not afraid to modify their clothing or to use their appearance as a form of rebellion against authority. Countercultures developed their own dress codes. By their choices in clothing, people defined themselves as Beatniks, Rockers, or Mods. Fads appeared in this era, making certain accessories, colors, patterns, or designers de rigueur for brief moments.

Couture became a mixture of high tech and Indian prints. The runways saw both ultratailored and freeform cuts. Throughout the 1960s and 1970s, the increased prevalence of women with jobs outside the home created a market for business wear and styles that worked for both day and night events. In the 1980s, working women demanded more feminine choices for their professional wardrobe. The main source of inspiration for most design houses remained street styles, and television overtook movies as the main way women formed opinions about fashion.

In the 1990s fashion still helped identify a person’s social group; however, these groups became more complex and overlapping. An office worker by day could be a Goth by night and require a wardrobe for each lifestyle. The late 1990s and early 2000s saw advances in fiber technology. Suddenly, fabric was available to wick away moisture, protect against solar radiation, repel insects, keep out the rain while allowing the skin to breathe, hold in more heat, or any combination of these.

Currently, both men and women lead complex lives that demand a variety of clothing. From work to the gym to the club, people want apparel that meets their needs while expressing individuality. Successful fashion design companies understand this, and combine creativity, technical expertise, and business know-how to get new styles to the consumer.

Style has always been influenced by the technology and political situations of the times. As the owner of a fashion design business, you will help shape where the industry goes next.

Table of Contents

Chapter 1: Owning a Fashion Design Business

Clothing makes up a large portion of the fashion industry. People need clothes for work, play, sports, special occasions, and sleeping, but apparel is only one part of fashion design. Accessories, home fashions, and Do It Yourself (DIY) patterns are other segments of the industry.

Accessories are the shoes, socks, hats, scarves, belts, purses, gloves, and jewelry that complement apparel. Companies may specialize in designing one type of accessory, or they may branch out into several categories. Some apparel designers cross-merchandise clothing and accessories within a single line. This is a way of presenting a single, unified look. Designers hope customers will like the image and purchase both the apparel and the accessories.

Home fashion is a growing crossover market for apparel designers. People relax, entertain, and even work in their homes. Large companies like Donna Karen and Ralph Lauren now produce bedding and furniture in addition to their clothing lines. The home fashion industry includes bed, bath, and table coverings; area rugs; window and wall treatments; and upholstered furniture.

The DIY fashion industry provides materials, instructions, and patterns for people who want to make their own apparel, accessories, or home fashions. Designers select coordinated bead kits, fabric, or fiber lines using their professional knowledge of color, texture, pattern, and current trends. Sewing patterns and fiber art kits are other segments of the DIY fashion industry.

How Fashion is Sold

The success of your business relies on how well you sell your designs. The fashion industry can be divided into two markets: wholesale and retail.

Wholesale

Wholesale businesses sell their lines to retailers, who then market the fashions to the end user. Designers can show their apparel to buyers through trade shows, market weeks, and market centers.

Trade shows are conventions sponsored by trade associations or independent trade show producers. Designers rent booth space where they can demonstrate their lines and meet with representatives from retail businesses. Attendants may also attend workshops, lectures, and panel discussions about trends and industry concerns.

Market weeks are held many times throughout the year. Most focus on only one category of fashion, for example, swimwear or children’s clothing. During market weeks, buyers for retail businesses can view fashion lines and meet with sales representatives to purchase merchandise for their stores.

Market centers are buildings that house permanent showrooms in which retail buyers can review fashion lines. Market centers may include temporary showroom space that designers can rent for short periods of time.

Retail

Any business that sells apparel to the end user is a retailer. Retailers differ in size, organization, and target market. If you plan on selling your designs directly to your customers, other fashion retailers will be your competition. If you plan on selling your designs through national chains, these retailers will be your clients. In either case, it is important to understand the most common types of places where apparel is sold.

Department stores are large retailers that sell a wide range of products, grouped in sections or departments. They serve a wide range of customers and carry both national brands and private labels. Department stores are important to the fashion industry. Historically, their sales account for over twenty cents of every dollar buyers spend on apparel. Examples of department stores include Sears and Kohl’s.

Specialty stores, like Talbots and Ann Taylor, are retailers that focus on just a few categories of merchandise. However, they carry a large assortment of colors, sizes, and styles within those categories. These stores have well-defined target markets. Like department stores, they may also carry national brands or private labels.

Discount retailers are like department stores in that they offer many types of products to a broad target market. However, discount retailers price merchandise at budget prices. Discount retailers such as Kmart, Target, and Wal-Mart have their own labels of apparel, but they also carry some national brands.

Off-price retailers sell national brands at discount prices. Off-price retailers include:

•  Factory outlet stores, where manufacturers sell seconds and overruns directly to customers.

•  Independent off-price retailers, which sell national brand seconds and overruns.

•  Retailer-owned outlet stores, where department and specialty stores sell returned and clearance merchandise.

•  Closeout stores, which sell merchandise from liquidations.

•  Sample stores, which sell sample merchandise that is no longer needed.

Not all fashion sales occur in a traditional store. Alternative retailers account for over 6 percent of clothing sales. These types of transactions include mail order and catalog, Internet, television-based, and at-home or party plan sales.

Alternative retailers have many advantages over traditional business models. Customers can purchase through a Web site on their own schedules. They do not have to wait for a store to open and hope that what they are looking for is in stock. Alternative retail models may be less expensive to own and operate than traditional stores, which can allow the online and catalog businesses to offer merchandise at a lower price than a store that has to pay rent to the mall.

Because of these advantages, department stores, specialty stores, and discount retailers may complement their store sales with alternative strategies. However, alternative retailers are at a disadvantage to their traditional counterparts in many ways. Customers may not want to wait for merchandise to be delivered. Instead, they may prefer to drive to a store and have their clothing immediately. In addition, customers cannot touch and try on clothing in a catalog or on a Web site. They may not want to deal with the hassle of returning the merchandise if it does not fit.

At-home or party plan retailers show samples of their fashions in the homes of potential customers. Customers can place orders based on what they see. At-home retail experiences can include trunk shows, where designers demonstrate their entire lines. Trunk shows can also be special events at retail establishments.

Which is Best for You?

As the owner of a fashion design business, you will have to decide how you will get your clothes to the consumers. Will you market your lines to stores or set up a retail shop yourself? If you decide to retail your own clothes, will you sell them online, open a traditional storefront, or rely on home sales?

The best strategy for you depends on several factors. Unless you are willing to travel, it may be hard to show your clothes to national retailers if you do not live near a market center or a city that hosts trade shows. If you have limited startup capital, you may not be able to fulfill large orders from a department store chain.

Some fashion designers want to keep the security and income of their day jobs, but pursue fashion on a part-time basis. Selling designs through local trunk shows or on consignment through local boutiques are ways to operate your business part time. If you want complete freedom to market your apparel to customers, you may decide to open your own clothing store.

Professional Outlook

In many ways, there has never been a better time to open a fashion design business. Many people want clothing that tells something about their interests and lifestyles and are willing to pay a premium for high quality clothes that are different than what their friends are wearing. The Internet makes it easy for customers to find specialty designers and place orders. Consumers do not have to settle for the limited selection at their local department store.

Keep in mind that designer clothing is a luxury item. When money is short, consumers might cut their apparel budget. Because of this, the fashion industry is very dependent on the health of local, national, and even international economies.

Professional Organizations

The following organizations provide information and learning opportunities for fashion designers and fashion design business owners:

•  The International Association of Clothing Designers and Executives (www.iacde.com)

•  The Fashion Group International (www.fgi.org)

•  The Council of Fashion Designers of America (www.cfda.com)

•  The Costume Designers Guild (www.costumedesignersguild.com)

•  The American Apparel and Footwear Association (www.apparelandfootwear.org)

•  The International Apparel Federation (www.iafnet.com)

Joining a professional organization can be a good way to become involved in the industry and network with suppliers, manufacturers, and other designers.

What to Expect as a Fashion Design Business Owner

Operating a fashion design business can be a remarkable creative experience. An entire line can be developed from a single moment of inspiration and, as the owner, you direct the process. Your visions could end up on runways or in stores on the other side of the world.

The fashion industry goes beyond artistry and glamour. You may hire experts and consult with specialists, but you are the final decision-maker. If a designer you hire selects the wrong fabric, you might lose a season’s worth of sales. If your accountant gives you poor financial advice, you might pay substantial tax penalties. In either situation, as the boss,

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