A: The First question one must answer: Is this a hobby or a business venture?
Before investing any money into your line, the next step would be to:
Test your proof of concept.
This can be done by not only asking friends and peers, but by utilizing social networks, speaking with fashion industry experts, and getting feedback from potential customers. This is your small sample market research.
What makes your line unique? What niche will your product target?
The next step would be:
Plan your sales channels and profitability potential.
To do this effectively you must acquire information on similar products already being sold and thoroughly research the price points they are selling at. Where do you want your product to fit in with the other products that exist? Will you beat them on quality or price? Or do you have a unique product that will set the bar?
Will you compete online or do you see your product being sold in stores worldwide?
Don’t cut corners on sales samples.
Have a few pieces made that you are proud of to show potential buyers, and create a digital lookbook (refer to our article: How To Create The Perfect LookBook).This is still an extension of your proof of concept. If you cannot afford to make every piece in your line, go ahead and make samples of your best 1 or 2 pieces.
At this point you have product in hand but have spent very little in the process.
Posted in: Planning Your Line