Instagram LogoBESPOKE TAILORS SUFFERED THIS YEAR O! Looking back on the lockdown that occurred early this year as a result of covid-19 outbreak ... ... it's so PAINFUL to hear the STORIES of FINANCIAL HARDSHIPS experienced by many fashion designers ... ... particularly those whose main stream of income was bespoke tailoring. Parties ended, owanbes vanished, churches closed, and every form of event was banned. Painful, really. . On a WhatsApp group I belong, we had a conversation along this line and I shared my thoughts on why some fashion designers prospered and some didn't. I'd like to share them with you. Below. ? Lemme let you in on a little secret. THE REASON SOME FASHION DESIGNERS THRIVED AND OTHERS SUFFERED WAS MAINLY THE INFO THEY GOT ACCESS TO ON HOW TO SURVIVE DURING THE LOCKDOWN. You know I'm a business coach, right? I have two coaching programs called FashionSix Basic and Pro. At the start of April 2020 I held some special classes for my members and told them how to diversify during the lockdown. I told them to reach out to their customers in organisations where facemasks were badly needed. Or those customers that had connections to such organisations. I told them to offer partnerships with these folks in order to get contracts. I told them to sell their facemasks in packages not units. I told them not to do the facemask business beyond May by which time the bandwagon effect would have kicked in. Those who applied these and other ideas shared by me and members of the coaching communities hit it big. I have it on record Abimbola O, made N2m in one month. A lady made N1.5m in one month. Several others did more than half a million naira. All during lockdown. And because they got info appropriate to their situation. From their coach. My point is, what you know matters. AS YOU HEAD INTO 2021, WHAT YOU KNOW MATTERS. You can book a strategy session with me to discuss the way forward for your business. Chat me up on WhatsApp 09052137213.
Instagram LogoWhat It Takes To Start A Ready to Wear Business Many people think ready to wear business means making ready made clothes to sell. It is more than that. Ready to wear as a business falls into 3 major categories. These are: 1. Fashion retailing 2. Clothing line 3. Bulk garment production Each of these are ready to wear businesses. . #Fashion retailing means you buy and resell clothing made by other designers. Or you could buy them at wholesale price complete with labels of the designers. In this case you only attach paper tags of your brand name to identify them as purchased from your store. PEP, Mango, Mr Price, Grey Velvet, The5kShop does this. As you can see, #fashionretailing is a big space on its own. Unfortunately it isn't being maximised in Nigeria. Perhaps you can leverage it. Clothing line on the other hand means you launch a brand that makes ready made clothing for a particular target audience, and build a reputable fashion brand out of it. Versace, Vuitton, Givenchy, Gucci, Ralph Lauren and so on fit into this category. . A #clothing line doesn't make only garments. Clothing includes #shoes and fashion accessories to complement garments made. Hence, it's safe to say that you can be a shoe maker and have a ready to wear shoe line ?. You can even have a clothing line for #accessories only. Do not box yourself into thinking clothing line is restricted to garment production only. . Finally, bulk garment production is a form of ready to wear business in which you serve as the production hub for fashion designers who want to start a clothing line but do not want to sew. As a bulk garment producer, fashion designers bring their collections to you to mass produce. This is a space that needs filling big time in Nigeria at the moment. If you are very good at managing #tailors and leading a production team, you should consider starting a bulk garment production firm. Those who manufacture uniforms also fall into the bulk garment production space. This means that you are into bulk garment production when you receive contracts to make #uniforms be it school uniforms, security uniforms, choir robes, tee-shirt, and so on.
Instagram LogoRecently I had a strategy session with a fashion designer who had an opportunity to raise funds for her ready to wear business but had to provide a budget to her sponsor. A close relation of hers had been prompting her to scale her business to ready to wear, and even shared ideas with her. But he needed a budget before he can release the funds. So we had the strategy session on phone. . I outlined a checklist for her budget planning. Would you like to know? It's a rough sketch I'm sharing. If you want a more detailed version, you can book a strategy session with me. . This is the rough budget checklist we came up with: 1. Cost of production per outfit in her first collection multiplied by the number of outfits she plans to manufacture in her first collection. Already fabric and sewing cost is figured in. 2. Advertising budget for 2 to 3 months 3. Cost of photoshoots and graphics 4. Cost of sample/prototypes of her collection. There are some other costs not included because they are not relevant to her specific need. This means that your own budgeting needs for your ready to wear business may differ. . Hope you have learned something from this. Perhaps you need help with your ready to wear business ideas. Perhaps you have no clue how to start and grow a successful ready to wear business. Perhaps you may have lost a lot of money in your first try. Or second. Perhaps you need help with selling and marketing your ready to wear business. Whatever it is, you should consider this ? Attend my FREE webinar on ready to wear business coming up, Friday 18 December 2020. I have 3 WhatsApp groups already, full of people who want to learn how to turn their frustrations to celebration with respect to their #readytowear dreams. Here is the link to register: https://sendfox.com/lp/1k64g4 Or send me a WhatsApp message on this line, +2349095859489. Have a blast! Laoye Curtis On a mission to raise fashion entrepreneurs with profitable readytowear brands