Watch out though, if your idea takes off you’ll want to scale pretty quickly, so it makes sense to keep even a rough plan in the background.
Bear in mind, the fashion industry is notoriously difficult to predict.
You’ll need to finish off with a solid section clearly outlining your business’ current financial position (even if this is very initial), priorities for growth, and how their investment will help things to fly.
Even if you’re not writing a full-on business plan, the same principles apply when organising your startup.
You’ll also need to include the analysis you’ve done, to understand your target market and any competitors.
Remember, this does need to be data-oriented, concrete and preferably something you’ve done with external sources.You’ll need to leave room for the product(s), of course, and talk about any plans you have for branding, sales and marketing, as well as operations.Finally, whoever’s reading your plan will be most concerned with one thing, and that’s the money.It’s likely that you’ve spotted a gap in the market, or have a unique design in mind for a specific customer group.Whatever your inspiration for starting up, it’s important to define your niche from the out-set.You may be planning just to buy a sewing machine and get straight to work, but even this is a time and resource commitment.If you’re investing effort and have goals for the future, put down in writing how your business will take shape, including plans and ideas for: For any clothing business, one of the most exciting stages is product development.Are you planning to build a fanbase for one specific item, like the world-famous Fred Perry shirt?Or it could be a particular style that you have in mind for your clothing line – for example the pared back, design-focused children’s products sold by lifestyle brand Scandiborn, or menswear that nods to your own unique heritage?Plans will need to be flexible and there are no guarantees, so you’ll need to be up for the challenge.For the first few months at least, it pays to keep things simple.