Are you opening an online store or a proper brick and mortar shop?
As the title says.
Starting up my own shop and would like to ask some questions to people who are willing to share knowledge with me.
Are you opening an online store or a proper brick and mortar shop?
Are you planning to base it in Australia?
I think to do it successfully, firstly you need to identify products that you are going to have a competitive advantage in.
Then you need to study and research the markets you are looking to sell at.
There is a technique called SWOT (Strengths, Weaknesses, Opportunities, Threats) Its like a quadrant. You need to identify each square in the quadrant particularly Threats ie competition people claiming copyright or patent infringements if your product takes off.
Manufacturing is probably the easiest part - with apparel as with most things - you have them made in China. I assume you have designs in your head already.
So you just need a little start up capital to manufacture samples and do some fancy photography to market successfully.
This is just off the top of my head. Of course you sit down and do a proper business plan.
Sobering thought. Most small businesses in Australia fail. Mostly because they are underfunded, lacking a focus and a proper planning and marketing.
Ironically the products and designs are generally very good - but that is just one part.
HalfBajan (08-19-2016)
That was amazing advice man, cheers! My mum was involved in the industry for quite a while so I could always look to her for a bit of advice.
As I said though, I'm hoping to build the business on a social media platform first just so I can slowly learn along the way instead of throwing everything I don't have at it all at once (I know that's not what you're implying or anything).
I'm starting off by selling replica clothing though, that's probably the off putting thing. I see many places being well known-ish brands sell aliexpress/alibaba stock (replica clothing) for $50-$70 more than stock price so that's how I intend to start off.
I have already got my logo, a few designs etc set up but I won't be pushing them into the store until it can pay for itself.
I probably have a really sketchy plan from your point of view but I think I'm unfortunately going to have to make a few mistakes to truly learn along the way.
I think you can't beat the actual experience - so I would be drawing an advise from your mum first and foremost. As she actually done it. My knowledge is purely academic as I studied commerce and economics and never ran a business. But I just have an interest in commerce from an educational perspective hence my initial thoughts.
There are some really good and engaging books to read to get inspired and also learn from mistakes. One thing for sure - you don't evolve - you go extinct. You could actually see it in reality with some huge powerful companies that were reduced to rubble because they refused to evolve.
If you have a chance - download the book called "Seduced by Success" It is an entertaining book to read (unlike most commerce books). It is a about the big business - but you can get some good ideas from it and it is a good and enjoyable read.
HalfBajan (08-19-2016)
my dad invested in some clothing line before, if you want i can ask him
HalfBajan (08-19-2016)
Would he have any idea about getting leads and growing your brand through social media?
I've done quite a bit of reading and it all really says the same stuff. I've got a bit of work to do before I should really worry about this part
but just for future reasons I'd like to do some research on the topic now
@HalfBajan
I think the trick with social media, you would need a critical mass in terms of followers to make it an effective marketing tool.
Link on shop ? But good idea.
Don't know anything about selling clothes, but the past few weeks I've been experimenting with Instagram, and it's the best place to get attention for a brand imo.
Hashtag the shit out of your posts, interact with different people, you probably know what to do. I made an account and posted some nature photography of mine from this summer, tagged it the right way, and immediately I was interacting with people who post similar photos. Some more popular nature accounts followed me, their followers saw that and started following me, etc. etc. And I'm not talking about the fake follow4follow stuff, all genuine people. You could easily do the same thing for clothes
HalfBajan (08-21-2016)
^ do what he said and also buy a bunch of followers.
HalfBajan (08-21-2016)