Considerations for Designing a Fashion House

Designing a Fashion House

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Last Updated on March 18, 2021 by

Often, there is nothing more discomforting than a business idea that one believes in its success and that which lingers in our minds all the time. Many people are always willing to start on the business venture but lack the proper guidance on how to approach the entire process from start to the end. To achieve their business dream, the main goal for all entrepreneurs is to set up a self-sustaining model. You can also check this website for more tips and suggestions.

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Important considerations must be undertaken in defining the product to sell, to set the right (market) price for the product, to identify where your target customers who are going to buy the merchandise are located and to device a way to reach target buyers using an affordable and effective sale, marketing and distribution strategy.

The process of designing a fashion line/house is not so varied from that of a typical profit-making business. The sustainability features are remarkably similar in that nobody wants to set up a line of business that will continually require the business owner to inject personal funds to sustain work.

This article is a discussion of some of the considerations to be deliberated on when designing a fashion house.

Identify the gap in the market

The gap in focus here is the variance between what is already there in the market and what is needed. One will need to identify that product that is in high demand, but the suppliers/manufacturers of the product are few or nonexistent.

The clothing design may be a sport and training accessory, a casual dress or formal clothing for official wear.

To set up the business, naturally, the entrepreneur would have to devise ways of shaking off competition in a scenario where there are many similar products in the market.

Determine the right price for the product

The appropriate price should be guided by sound market research on the price of substitute products already in the market.

From consumer theory, a potential customer is unwilling to spend ordinarily higher prices on a clothing product over and above the price of a similar product in the market –a substitute product has value into the buyer. For instance, proper justification must be made why our hoodie is retailing higher than a hoodie of the same design and fabric material.

In whatever situation, the price of a single unit of a clothing product must be higher than what it would cost to design and manufacture (and sometimes ship) a single unit of the same clothing product.

Who are you targeting to sell to?

One might have the best of a business product, but it is of no material use if there is no one to buy the product.

The target customers are identified in terms of their location (where are they located?), age (are we designing kids’ clothing?) and in terms of population of the customers (customers must be many to support the purchase of a large stock of the product).

The type of target customers also helps define effective ways of packaging advertising content for our clothing line product.

The type of target customers will also influence the design elements of the clothing outfit. Typically, younger target markets are often style-conscious of what choose to wear.

Product Definition

In most cases, the product is defined during the onset stages of the business model, however, a sound market study should be the basis to determine the suitability of specific design elements on the clothing product.

The entrepreneur needs to eliminate any uncalled-for design features to cut down on extra manufacturing and processing costs. The product’s strong design features should be well identifiable. The goal is to come up to a product that will suit the needs of the target customers.

Additionally, the entrepreneur could choose the brand name or product logo at this stage as part of the product description. The brand name and the logo are an important mark of identification towards building and sustaining a customer base and pushing your product faster.

Choosing the right manufacturer

The ideal manufacturer should replicate the exact design of the clothing product within given constraints of time and cost.

Project Revenue Targets

Here, we determine the “when” and the “how much” facets of income earning potential of the clothing line. Remember, we are against a business model that cannot pay for its operations from the funds generated from within.

The “how much can I make” is determined by the price per unit of the clothing product and the number of products units expected to be sold in a month. Additionally, the size of stock projected to be sold is directly determined by the size of the target customers and the likelihood of the target customers purchasing the product at the offer price.

The amount of money to be generated determines the profitability of the business and ultimately the probability of survival for the fashion house.

On the other hand, defining the time when cash will be earned by the business affects the business capacity to meet operational costs that fall due before income is earned. A business entrepreneur might have to spend considerably more e.g. on staff salaries from personal savings when the business is not earning a dime.

Determination of amount and timing of revenues streams will also determine ease of landing a partner in form of a financier or otherwise. No one wants to inject their hard-earned money not knowing when and how much they should expect to be paid back.

Marketing & Advertising

At the initial stages of the business venture, one can use internet-based marketing platforms to advertise the product to cut down on marketing costs.

The imperative deliberation is to direct the advertising content in the way of the target customers at a friendly cost to the business. No one should run advertising videos for kids’ products on television hour beyond the watershed hours.

The process of designing a fashion house should be approached from a wholesome business perspective because ideally, a fashion line is a business like any other.

The process of designing and setting up a fashion house may be costly both financially and emotionally, but extensive research and planning must be undertaken to protect the business from total collapse and financial losses.