READY-TO-WEAR BUSINESS AT A GLANCE

 

READY-TO-WEAR BUSINESS AT A GLANCE

An Overview

In recent times, fashion industry is booming in Nigeria, and this is attracting a lot of foreign investors.  Many business persons in the industry are rushing to Ready-To-Wear, Garment Production and Fashion Education because those are the most profitable areas of the industry.

There is so much opportunity locally and even good exposure in the international market.  With proper coaching and mentorship any designer can start a journey in this line and get to the top in no time.

The market is massive with varieties of Niches to choose from.  The rush has caused a high level competition which can only be overcome by con
sistency, creativity and motivation.  Hence it’s not a business for the lazy, timid and laid back people.

 Growing in this industry, I personally made several mistakes which will be highlighted here for others to learn.  You may not be as lucky as I was to learn the right thing on time, but its still good to avoid mistakes already made by others.

What is Ready-to-Wear?

As the name implies it’s a clothing line already designed, sewn and ready for the client to buy and wear.

The designers mostly use standard measurement chart depending on the sizes of the market segment chosen.  Or using a range of sizes from random models in the segment.

To make it more interesting the designers choose to satisfy a niche at a time and then expand from there to other niches or even other market segments, releasing the collections periodically.  This keeps the fans hungry for more.  Some may even decide to pre order customized designs where only they will wear!

 

*6 Major Steps to Start a Ready-To-Wear Business*

*Step 1*

*Acquire the skills*

A good Fashion designer must understand the primary rudiments of garment making.  Not necessarily to be the one sewing, but to be able to create styles and manage a Ready-To-Wear clothing line very well.

To have eyes for details and neat finishing is also an important skill.

People management is also required, you must have a very good interpersonal relationship since you will be serving human beings.

Also, ability to follow fashion trend is key.  For a designer that knows pattern drafting, creating new designs according to the trend will not be an issue.  However, as a beginner, simple straightforward but unique designs are recommended.

Basic fashion illustration skill is also required here otherwise, you will have to pay someone to do that all the time.

*Step 2*

*Choose a Niche*

Most often designers rush into RTW without actually identify the Niche they want to serve.  Some even follow trend and copy what other designers are selling without understanding how they came about that choice.  This will always fail!!

From experience, you must have a market segment in mind, and from there determine the niche to start with, then during your growth process, you can include other sub niches or even start a new one.  There are so many other factors that should be considered when choosing a niche.

What is a Fashion Niche?

A specific range of clothing designed for a specific group of people.  The style, fabric, colour, theme will be tailored towards what will appeal to that group.

How to choose a Niche

-        Identify your own interests and passions (clothing wise). What do you like to wear?

-        Identify how wide the market is, e.g how many people like to wear those type of clothing and where can you find them?

-        Imagine what challenges those people have concerning those clothing and how you think it can be solved.

-        Research and investigate if other companies are providing the solution and how strong are they in your locality?  Have they been able to meet the demand?

-        Calculate the production cost of one piece of the clothing and determine the profitability if you were to sell it.

-        Draft a design of the clothing

-        Draft a pattern for a model (any size)

-        Make a sample for the model to wear and do a photo-shoot

-        Test your idea on friends, families and neighbours. Post it on social media, send it to people, Collate their feedback and complaints.  Based on this, you may make corrections and or additions.

-        Finalize your decision on that niche. If need be, you can change the style to something more acceptable.

-        Decide the quantity you want to start the business with depending on available budget. 

 

*Step 3*

*Write a Business Plan*

You will get confused along the way if you start a journey without itinerary.  Sometimes you will be derailed or give up on the journey.  You need to plan what you intend to do.  There has to be a Business plan, no matter how small, it does not have to be a 50 page booklet!! You can start with a few basic information that specifies the following:

• Vision
• -        Target Market segment (its size) / Opportunities
• -        Niche and your proffered solution for them
• -        Strength/Weaknesses
• -        Unique Value Proposition
• -        Competitors
• -        Budget for start-up, how do will go get the start up capital?
• -        Marketing strategy. How do you intend to sell the clothing?
• -        Etc

In addition to this, you should have a business structure. There is need for Stores Manager, Digital Marketers, sales persons, accountants, dispatchers, QA/QC, store keeper etc.

As a CEO, you are not expected to do everything by yourself, your job is to strategize and manage the people doing the business.

 

*Step 4*

*Choose a Location*

For a starter, I usually do not advise renting a shop and filling it up with clothing, this will come after the business kicks up fully.

It is recommended to open a digital store front first and run the physical store from the comfort of your home, but if you are buoyant enough to open a shop, then that’s fine.

However, from your choice of Niche you would have decided where you want your physical store to be located.  And this has to befit the target market you are serving. 

 

*Step 5*

*Mass produce the Garment*

Having decided which garment you have finally settled on, you may proceed to mass produce the garment.

It is always a hectic task to for RTW store owners to do this by themselves.  I usually recommend outsourcing to Garment Production Factories.  Or a dedicated section of your company with minimum of 10 workers.  You will have to provide the fabrics and accessories required for the production. You will discuss with the factory if they can do the pattern for you or you will present well detailed pattern to them.

However, if you have the capacity and resources for bulk production, then you can go ahead.

There has to be a well laid out plan for the garment production, time lines, and QC/QA checks.  No one tailor should cut and sew one garment from beginning to the end, except it’s just a sample piece.

For the production you will need a team of fashion illustrator, pattern drafter, cutter, seasoned tailor, presser, QA/QA, packager, storekeeper, dispatcher, marketer, salesperson, Accountant etc.  These personnel will have to meet often to review the activities until the design is fully out into the market.

 

*Step 6*

*Naming Ceremony*

-        RTW has the tendency to expand and multiply into a large clothing store, hence the need to identify each of your collections with a unique name.  At some point you may have over 10 collections, so the names have to be distinct.

-        This should not be confused with the brand name.  The brand name is fixed, but the collection name can vary according to what you are inspired to name it.

-        Start creating awareness by adverts, sneak peek trailers, status posts on social media, jingles, celebrity/influencers endorsements, friends spreading the news, etc.

-        Identify other RTW outlets who may wish to become distributors for your designs and give them samples to place in their shops too.

-        It is optional to launch the collection with a party/runway show where friends and relations are invited to celebrate and buy at discounted prices.  Not really advisable to spend too much money on this, But it’s very important to pray over the business before you start.

-        You can also launch online by posting the designs on social media status or a website page.  All this should be done within budget.  You don’t want to overshoot budget before you start!

-        For those who have not registered with CAC, this is the time to do it. This gives you a legal backing to operate in Nigeria. Also it’s a requirement for you to open a bank account.

-        You may decide to request for pre orders during your launching (at discounted prices).  This will add to your start-up capital.  And you are sure you already have the demands on ground.

 

 On a Final Note. 

-        All businesses need *people* or a *network of people*.  Stop being a loner and self-centred, make friends with people. To start, work on creating a healthy relationship with people around you. Reconnect with families and friends.  Get their contacts and ask about their welfare.  That way it won’t be awkward telling them about your business.  You will definitely need them for spreading the word!!

-        To grow, find mentors and people who have been in the business earlier than you and learn from them. Ask questions, be humble to seek help.  Pride or timidity will not take you anywhere. Do not repeat mistakes others have made already, rather learn from them.

-        Collaboration is highly encouraged.  Things are too tough and expensive to raise capital all alone.  You can combine resources with one or two people of like minds.  As you progress as a group, you may decide to separate and run yours individually later on.

-        The market is very wide, so there is room for everyone to succeed.  You can even do this as a full time job and earn more income than people on salary.

Thanks for your attention.  For information of our Business of Fashion Tips   Whatsapp 08083449835 IG  @lecoleunique Facebook @lecoleunique Email lecoleunique@gmail.com