Thinking of starting a clothing company. Talk me out of it.

[inq89]

It's an idea I've been tinkering about for a while now. I've had an inclination for clothing, I am young and can afford [some] mistakes, and would love to be an entrepreneur. But I am a student and am in the negative with debt. Still, the itch grows and grows and time is money, no? I look at guys like Kent Wang and Allen Stephenson (the latter not being the most fashionable, but rather successful) who chased after a dream and I keep thinking, why not me?

No idea how to start and have no background in fashion other than being a member of SF and running my own prep-inspired blog. Was thinking of talking to my local SBA and asking around for mentors, but other than that, I don't know how deep my head would be in a potential pile of sh*t if I invest in this idea. I have some capital but could always use that towards my IRA or tuition.

I'd be glad to tell you my niche and ideas if it comes to that. Barrier of entry is quite high so I'm not too afraid someone will steal it all.

Should I even attempt this as a starving college student? I know you guys in this Careers forum are tough and critical, but I need outside scrutiny and the knowledge that comes with it and don't know who else to ask.


Non sarcastic answers preferred. And I apologize in advance if my post comes off incredibly naive. Because I am tbh.

 

[landshark]

Whether or not you invest in this business or another, just know that nobody got rich on an IRA or a salary. Cover all your bases when it comes to details and make sure the numbers work. Good luck.

 

[inq89]



Whether or not you invest in this business or another, just know that nobody got rich on an IRA or a salary. Cover all your bases when it comes to details and make sure the numbers work. Good luck.

Indeed, and that is what drives me towards actually putting my idea into action. Having a chance of becoming successful based on working for yourself and something that you believe in is an exhilarating thought. The things holding me back are the "Ifs Ands & Buts" -kind of excuses and the fact I'm still a student with no real positive income. A legitimate reason I am sure, but still just an excuse.

Thank you.

 

[landshark]

Without positive income, live with your parents and work a job (e.g. waiter/pizza delivery) for cash. This can cover personal expenses and some initial business expenses.

 

[inq89]



Without positive income, live with your parents and work a job (e.g. waiter/pizza delivery) for cash. This can cover personal expenses and some initial business expenses.

I actually am moving in with my parents due to an unrelated life change. I just quit a part time job but will look for another soon, and am also on working with monetizing my blog for passive income. Most of my capital however will be sourced from a small amount of inheritance left to me.


Does anyone have experience with the business side of the fashion industry? Perhaps a smaller, grass roots company? My niche will be amongst the "Heritage / Americana" brands.

 

[dfagdfsh]

do not do this. it's a stupid idea. these brands succeed not because of their designs, but because of their ability to source product cheaply (kent wang). also, how do you define 'success'? i promise you nobody is retiring to the french countryside on their side hobby clothing brand.

 

[VinnyMac]

...don't even know your idea, so we're in no position to comment on it. I don't know whether it's a stupid idea or not, but always proceed at your own risk.

 

[dfagdfsh]

also heritage/american is on the way out, and the market is over saturated with niche workwear brands.

 

[inq89]

VinnyMac and Teger, I will send you a PM if you are kind enough to read it.

Thank you for the feedback. I am proceeding with great caution in these preliminary stages. Just testing the waters and asking from those who know more than me.


edit: I can go into specifics in my PMs, I am sure it is understood that I don't want all of my ideas disclosed freely in an open thread. Thank you.

 

[JilSlander]

What are you offering that's different from the current brands that are in the market?

If you don't have a good answer to that, I suggest you don't do it. I have prior experience in the industry and know firsthand how difficult it is. Can you cover costs? Can you source fabrics/materials?

It's a business, first and foremost. The fact that you're already in debt (which you will be in even more if you pursue this) is enough for you to reconsider.

 

[VinnyMac]

What are you offering that's different from the current brands that are in the market?

If you don't have a good answer to that, I suggest you don't do it. I have prior experience in the industry and know firsthand how difficult it is. Can you cover costs? Can you source fabrics/materials?

It's a business, first and foremost. The fact that you're already in debt (which you will be in even more if you pursue this) is enough for you to reconsider.

When it comes down to it, unless you're a famous designer or you're creative enough to get the attention/support of a well-known designer/distributor, you're dead. The only things that you can play around with is price and distribution methods. You can sale the product that everyone else sales at a lower price or you can sell the product that everyone else sales in a more convenient/enjoyable way.

The second one's a waste of time because everyone's trying to find more convenient and efficient ways to distribute their products.

The first option has potential because brands play such a big role in the clothing industry. Companies spend a lot of money on advertising and differentiating their clothing so that they can charge more for it. They're not going to lower their prices. Since you don't have brand equity that you've spent money to develop, you don't have to worry about that. If you can sell high quality clothing at much lower prices than the Big Boys are willing to sell their items for, then you've got a shot. The problem is that even that space is starting to be filled.

 

[xpress]

Go store to store.

Find a few smaller shops willing to pedal your product, and the name will catch.

Take out some space in a retailer magazine, such as MR, and buy space in trade shows.

It's not as crazy as everybody thinks. But coming up with nice product? That's the hard part.

 

[inq89]

Thank you everyone once again for the input. JilSlander, I will PM you my idea and would love to hear your thoughts about it.