How to Start Your Own Fashion Empire!
With the credit crunch biting more and more of us are looking to the internet as a source of income. In both Europe and the US retail sales have fallen whilst internet sales are still holding. Around 75% of us now have a home computer, and clothing sales account for 17% of US and 37% of UK online sales in 2007. The US market topped $100 billion in 2007 so there is a massive market to go for.
Fashion Internet sites are still starting all the time. The Bauer Media group who own Grazia magazine have just launched a new fashion site. http://www.cocosa.com. This is a designer retail internet site similar to net-a-porter. Check it out. It is by invitation only. Type in fashionstylist. It is by limited invitation and the code lasts until 31st October 2008.
Retail shops are finding it very tough with rising rates, and consumer confidence dropping. So the time is right to start a fashion empire. Niche markets do very well, Bravissimo the online bra company for fuller figured women started on a kitchen table. Other ideas may be children’s clothing, plus size women, tall men etc.
Next, start a blog with a free newsletter and find out as much as you can about your target market and customers prior to launch. The newsletter will give you your mailing list for your launch. This will get you known to your target customers and get some healthy web traffic. It will also give you competitor data for you business plan.
Then source your product and start a website. There are many website software packages now to build your own i.e. Mr Site. Google Adwords provide instant advertising and with a website focussed on your most relevant keywords you will soon have sales. Market by email to your customer base and keep marketing to them, on average it takes 7 access points before someone buys.
Now you have your killer product, a great website, stay focussed, network like crazy and don’t give up. Take a long cool look at your business regularly and refine it. Many big businesses start very small so be motivated and get out there to build your very own Fashion Empire.