The fashion designing business is a lucrative venture if you know your onions. In this article, we’ll give out the necessary guidelines you need to follow on how to start a fashion designing company in Nigeria today. Also, be in the know that before you think of venturing into this field, you must be well accustomed to the nitty-gritty, or better still you should learn the skill first.
The fashion business in its true sense encompasses designing, manufacturing, selling, and marketing different apparel. It is a trendy field and people do patronize this field. People or fashion designing enthusiasts can spend a fortune to get a perfect-fitting outfit.
Types of Fashion Business
The fashion business is a broad field and it has different areas of specialization. The different areas of fashion business are fashion retail, fashion media, bespoke tailoring, cosmetics, footwear, etc.
Fashion Retail acts as an intermediary between manufacturers and consumers. The fashion retailer buys in bulk from the manufacturer and sells in bits to the consumers. In a bid to sell different varieties of apparel, they meet different manufacturers and buy from them.
At times, the fashion retailers might display their materials in the showroom to attract buyers.
Fashion Design Business
This area of the fashion business is the most sought-after. It entails applying design, natural beauty, and aesthetics to clothing. A high level of creativity is required in this area of fashion business involves cutting, sewing, weaving, ironing, and turning fabrics into beautiful attire.
This area of the fashion business requires you to have hands-on training before you establish your own firm.
Fashion Import and Export Business
This area involves selling fashion products in bulk to retailers. They import from other countries and sell in large quantities and they also export to other countries.
This business requires huge capital to set up. In that case, high-profile individuals are usually found in this business model.
This involves the production of makeup, production of perfume, spray, and other types of beauty products.
How To Start A Fashion Designing Company
To start a fashion designing company, you must be prepared to act like an entrepreneur. Follow the following processes to start a fashion designing company.
1. Get Trained
You can’t possibly be good at fashion designing, nor can you start a fashion designing company if you don’t have the necessary knowledge or skills? If you aren’t trained, you can easily join a fashion school for about 6 months to one year. There are also List Of Nigerian Universities Offering Fashion Designing that you can enroll in and get a degree as a fashion designer. Training that allows you to understand the core of your business.
If you want to build a clothing line, you cannot make the clothes yourself. You need to find a clothing manufacturer to help you out.
2. Write a Business Plan
When you’ve perfected your skills in fashion designing, the next thing for you to do is to build a business plan. This business plan entails how you want to run your business. It guides your business in whatever stage you may be.
To write a Business plan, you need to understand your target market and audience. It helps you to know their competition and activities. This serves as a guide for you to create a strategy and stand out from other fashion companies.
3. Create an Official Website
These days, people search the internet to get every bit of information they need about a product or service. Don’t be left out in this Business trend. Create an official website before you launch your business officially. It helps you create awareness about your business.
4. Register Your Business
You need to register your company if you indeed want to run a structured business. You can register your business with the Corporate Affairs Commission.
The cost to start a fashion designing company varies depending on the scale you want to operate. The least you can use to start a fashion designing company is N500,000. The money covers the rent, equipment, and fees.
The cost can be higher depending on how big you want your fashion company to be.
6. Equipment Needed
The basic equipment required for you to start a small fashion business are:
- Sewing Machine: you’ll need a complete set of a sewing machine. It should be able to perform the purposes you want it to do.
- Weaving Machine: This machine gives a finishing touch to your seams.
- Embroidery Machine: This machine is used to make designs on your cloth.
- Furniture: This is required for tables to lay and cut your fabrics.
- Sewing materials: materials like thread, pins, tape rule, scissors etc are needed to start a fashion designing company.
- Generator Set: This is required to power your equipment or machines.
- Pressing Iron: This is needed for straightening your cloth to make it neater.
- Sketching Book; This is needed because you can sketch styles in it.
Location matters in any business or company you want to set up. You should get a location that gives you access to customers.
You should invest in advertising or marketing. This process will bring you closer to more customers. You can run Advertisements on either broadcast media or print media. It builds your brand recognition
Building a successful fashion designing company requires your creativity and dedication. Nothing should stop you from starting your own fashion designing company.