Starting any business can be a daunting prospect and fashion design is no different. There have been many start up brands in Dubai over the last 5 years who have managed to present their first collection but have then gone by the wayside for varying, and often the same, reasons.
Grace and Garbo and their team of Eleganceers have worked with a number of Dubai fashion designers, and we have always taken a bottom up approach to launching them into a successful career. Failing to plan normally does mean planning to fail.
Most designers have the passion and technical skill to create outstanding pieces of work but there is often a failure in the business planning and business execution stages. Fashion design is after all a business, and the same disciplines that apply to most business start ups should be applied.
Whilst the design concept and target market are important there are a plethora of other factors that should be built into any business planning document. Prior to building the business plan however, the aspiring designer should be preparing a feasibility study to see if their new business venture will grow legs. This feasibility study will look at pricing, competitors, the target market, the UAE economic outlook (if looking to sell domestically only) risk assessment of the viable options, and fashion trends in the region.
Your completed feasibility study will provide a positive or negative outcome and will act as a natural lead into the business planning stage.
The business plan itself will look to cover start up costs, production, marketing, sales, funding, branding and packaging, legal aspects (name registration) SWOT analysis, retail outlets and partners, and a host of other items.
Maybe it’s time for us to slow down and lead you into our guide slowly. We have set the scene, and hopefully not caused too much anguish for you budding fashion designers. Over the course of the next few weeks we will build up our guide to starting your fashion business in manageable chunks.
Our next posting will be your first building block to successfully starting your Dubai based fashion business. In the meantime, if you want to talk about your own business idea feel free to contact us for a no obligation consultation at this early stage.
Until the next time, stay fashionable and keep believing that your dream can become a reality.
Grace and Garbo “The Eleganceers”