| So you want to start up your own Fashion Business? |
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Throughout the Croydon Fashion Festival from 16th to 21st June, Fashion Enter have been hosting a variety of Fashion Workshops and Seminars in the Centrale Enterprise Suite.
For those who were unable to attend Liz Ogilvie, Business Consultant's workshop on "How to start your own Fashion Business" Liz has kindly provided us with the material demonstrated in her workshop.  Running your own business can mean.... • Personal sacrifice • Financial insecurity • Pressure on close relationships • Isolation You need to have .... • Self confidence • Self determination- you want to succeed! • Independence • Commitment • Perseverance • ‘an open mind' You will need to have the following business skills... • Financial Management • Product development • People Management • Supplier Management • Business Planning • Marketing • Selling  Where do I start? Think about your market and your product • Is it niche or mainstream? • Who is your customer? • Are you going to build a range? • How are you going to sell your product? • Do you know your market? Do you know your market? Research! • Your competitors • Your Customers • Pricing • Key issues that affect the market  Key Questions about the competition
If there is no competition...Why not? Planning your Business • Provides structure and focus for your ideas • Helps you spot pitfalls • Allows you to measure your progress Every Good Business Plan Executive Summary
 Marketing and Sales Strategy • What is your position in market - mainstream? Niche? • Who are your customers? • What is your pricing policy? • How are you going to promote your product? • What is your route to market? • How will you sell your product? • How will you approach buyers? Financial Planning You will need to think about:
12 months - detailed and 3-5 year forecast • Cashflow statements • Profit and Loss Forecasts • Sales Forecasts Where to get help... Fashion Enter www.fashioncapital.co.uk Business Link for London Portobello Business Centre - Fashion Courses Share this Article:                        Advertisement |
