Insider secret...count the costsExpert Advice
Designers often lurch into launching their own brands without considering the huge costs it can take to launch a fashion business. Once you have started to develop your business idea, then you need to add up how much it will cost, including every business expense it will take to launch and run our label.
You will need to come up with educated guesses for costs for your rent, production, supplies, marketing, and everything else and then whatever you think it will cost, double it! Starting a fashion label costs more money than you can possibly manage and you will experience many unexpected costs of running a business so make sure you over rather than under estimate.
You also have to remember that as well as the costs of starting your business, you also have to consider your personal budget and how much money you need to live, including rent, food etc.
You don’t want to start your business and then run out of money as soon as your start – so take time to really plan your costs and consider how you will manage your cash flow.