Owing a Fashion House and working towards making it a success sounds so good. Opening a fashion house is for people who are creative, versatile, passionate and have a good fashion & market sense. So if you find these qualities in you and aspire to open a fashion house then this article is certainly for you.
It is amazing to be an entrepreneur and it is wonderful to own a store that is full of stuff that you love. Opening a fashion house not necessarily ask for you to be a “fashion designer” but if you are a fashion designer then this is no less than a cherry on cake.
Let me tell you all few crucial points that just can’t be missed when you plan to open a fashion house.
I know this is no science project where you research and experiment, and neither am I talking about it.
Research about how other fashion houses are run, what is the trend, how things need to be worked on, what brands you would like to keep in your fashion house etc. After you are done with the whole research, gather the whole knowledge and conceptualize it.
Remember one thing that everything is sold in the market, but what makes you different is “What new you can offer to your customer”?
Figure out your budget:
After you are done with the research, you now have to plan your budget. Planning your budget goes hand in hand with planning to start any business, so it is the similar case with opening up a Fashion House. Plan your budget and divide it among other departments so as to get a proper idea about which department demands for what amount of money. A little off budget you go and there you shall find yourself in a stuck condition. So not only does planning a budget matters, it is also important to stick to that budget. Include rents, salaries of employees, funds for purchasing, renovations of the shop etc in your budget planning.
Do not compromise over your location but don’t go beyond the budget too. All you need to do is to find an easy approachable location that gets noticed very often by people. This is one factor that plays a major role in making your fashion house a success without taking years and years.
Maintain your documents well; hire a legal advisor that looks after your leases, your dealings with the brands etc.
Advertise through newspapers, pamphlets, internet advertising etc to let people know that you are now in the markets. Design your advertisements in a way that is attractive, appealing and speaks about your fashion house loud and clear.
Carry on proper interviews and select the most pleasing staff for your fashion house who have knowledge about clothes and can easily deal with customers.
Observe your Neighborhood and Customers:
Are you wondering that what has observing neighborhood got to do with your fashion house??
This is not a factor to be ignored, like you may feel. Knowing your neighborhood and observing some of their common traits works for the good of your fashion house. You really got to know the kind of people who most of the time pass by your shop, what are their preferences, why do they only pass by and come up as buyers, and out of all those people in you how to get the potential buyers come in your shop and make them your customers! Also know your competitors in the neighborhood, which is very important.
Apart from neighborhood you also got to know your customers. Talk to your customers; ask them about what they like in your store, what type of clothes would fascinate them more etc. Always be warm to your customers and not just let them be dealt by your employees. You should go and personally talk to your customers; this will please your customers to.
Remember a retail showroom or a fashion house is never a success with the number of customers. It is only a success with its loyal customers.
Set A Difference:
Differentiate your fashion house from the other set of fashion houses in the market. Keep accessories apart from dresses in your fashion house. Shoes, belts, bags, scarves, jewellery etc.Try to give in your extra creative input, suggest customers about what would suit there persona and try to create on whole look for them by pairing accessories with them. This way you are sailing more, helping your customer, not letting the creative you, vanish. Wow this way every one is in a benefit.
Also provide for fixtures and some customizations in your fashion house’s products. Customers prefer to go to a fashion house that caters to their needs under one roof.
Manage Your Stress:
Don’t let stress overrule you. Working so much with the brands and the customers, managing on budgets, keep your customers and employee happy ain’t easy. Try to keep the stress levels under control and be lively every new day.
These are some crucial pointers that needs to be taken care off when palnning to open a fashion house. Best wishes for your bright future with your Fashion House ahead.
Do you agree with these pointers?