Originally Posted by aravenel
The suggestion to check out SuitSupply is a good one. They seem to be the standard low-price suggestion around here these days (though they are over $400), and I do have to say, I've been impressed with what I've seen.
Indeed, a good way to start this is by going to every store that you consider to be competition, and taking notes about what you like and don't like about their products. Maybe try on a couple of suits, feel the material, look at their prices, etc. Whatever you think are good criteria. Once you've done this you'll have a feel of the competition, and should be able make a list of the best practices based on your notes. Also try to think about how you can improve on all the points you wrote down that you didn't like, and you should be able to find out how to offer a better (or in a different niche) product than your competitors.
This would be a very basic market analysis, which will give you valuable insights that will help you to create a successful new line. Asking your potential customers what their thoughts are is also a very good idea, which you've done by making this thread! What you could also do is make a very small survey on google, where you will pose a couple of questions that you'd like answered after doing the aforementioned market analysis. You could put this survey on SF, on your website, mailing-list (if you have that), or any other social media platform. This will very easily give you a relatively large sample, and will help you find out more precisely what your potential clients' wishes are.
This is all very basic, and it will take you a couple of hours, but it might help you make an informed decision! You might know all this already, but I hope this helps!