Posted: May 25th, 2022
Fashion Management: Business Plan for an Online Fashion Retail Business
In the past, fashion has been ‘all about’ following someone else’s style — the style of the moment. Women have tried to fit their bodies and attitudes into what fashion magazines and stylists say they must wear. One season skirts are short; the next they are long. One season black is in; the next season brown is the rage. Our business restores the consumer into the driver’s seat of fashion and allows fashion to reflect every consumer’s own, personal sense of style.
Of course, in previous eras, people were able to design their own clothes and sew them, but few consumers have the time and knowledge to do that today. Our company gives women the best of both worlds: ready-made fashion designed by them, all with a point and click of the mouse. The shopper can log into our website and choose from a selection of 2-3 patterns. The shopper can select the print, color and size (approximately 2-3 colors will be offered initially but this will be expanded upon over time). They order the garment which is then custom-made to their needs and desires.
The brand’s image
The brand’s image is clean and minimalistic yet intensely individualistic. Consumers have the choice to craft the clothes they want, however they want them. Just like style icons Coco Chanel and Audrey Hepburn, the brand projects an ethos of timelessness. These women’s styles did not change with the times: similarly, consumers can create something in their own style, size and fit in a manner they could not find ‘on the racks’ but at the fraction of the cost of purchasing a custom-designed outfit from a brick-and-mortar tailor.
Initially, the company will operate on a fairly small scale. A web designer will design and maintain the technical aspects of the site (and this aspect of the business may be outsourced, keeping the costs minimal other than cost of the initial design and website hosting). The first orders will be sewn and constructed by the owners but will be later outsourced as demand increases. If the company is able to expand, it will be able to contract freelance seamstresses paid by the piece. This would be a great way to generate income for people who want part-time work or who want to supplement their sewing and crafts businesses.
Initially, the main expenditures will be on the raw materials for the clothing, the website design, and any supplemental personnel needed to help sew orders. Bookkeeping will be handled via software we purchase for that purpose and this will keep costs down. We will need to advertise both the services of the website and also eventually for potential freelance seamstresses to contract out the work when it becomes too much for us to perform ourselves. Freelancers will be paid by the piece and will ‘expense’ the costs of the material they use. The focus of the advertising will be online, given that the business model encourages a ‘point and click’ format. Free sources of advertising include maintaining a Facebook page and Twitter account as well as paid advertising on popular fashion-based blogs and media outlets
This company will begin with relatively minimal costs, but as orders begin to increase it will need to expand the number of the freelancers it employs. Expanding in a cautious fashion will prevent early business losses: also, the online rather than brick-and-mortar format (and online advertising) will further enhance cost-containment.
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