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The product is only a VERY SMALL portion of your overall process and success. If you don't have the financing, marketing, and management in place, close up shop now. In essence, those should be the first thing you should set up before the product line. The product line is easy. It's everything else that is hard.
In addition, all of this should be covered in your business plan. You do have a business plan, right? If not, get on it ASAP. No one will talk to you serious.
So, I would suggest contacting your local SBA and asking them what programs they offer in your area. I am going to assume you are a woman. If you are minority woman, even better. The SBA has all sorts of financing options for woman owned and minority women owned business, if you qualify. They also provide free business classes, and access to SCORE (http://score.org) mentors - a great resource.
You'll also want to take a look at your own personal credit score (650+ would be ideal). Because you have no business history, almost all banks will require personal liability when providing any sort of credit lines... especially in today's economy and risks.
It's going to be hard, but the rewards are great if you stick with it! Good luck!
grace is correct in saying that your product alone will not get you sales
First you should start with a product that people will actually want. Clothing is a picky topic because to an extent, everyone wants clothing(flashy t-shirt) and needs certain type of clothing(underwear, jacket). So for you clothing, you need to start with a target market. Gender, age, lifestyle, status and other demographics will determine where the clothes are sold. It will also sold how they are advertised.
Also comes other aspects of managing your product, getting feedback, patents on designs, etc. What stage are you in the planning process right now? Besides the funding.
Who are you?? Where are you??
New members, before you ask that first question...
bySBOCTeam at Jan 22, 2009 11:00 AM
your profile. Giving some background about yourself helps other
Community members when trying to answer your small business questions.
Its a quick and easy way to promote your business too. Complete your
Im in NJ working in NY as a college student, I have all that figured out of who I will target, thats been figured out at the beginning. I also have my marketing/advertising and management completed. The point I'm at right now is finance; before I thought about this I did all my research so I know what I'm getting myself into. Everybody I know what kind of f field this is I have talked to other ppl with lines and boutiques out; but I just didnt talk to them enough to know all the steps that I need to go through. It just feel like I'm missing something thats all.
Hey, I'm a college student also. I run my own business while still in school and I am originally from the New York area. If you are in between NY and NJ you are in a great area to try and sell your products. School is a great place to learn and run your own business because you are generally safe from what is going on in the world. But as a college student, I know funding can be tough but there ways. I first saved up my earning from workings to build my own servers and buy neccessary services. I could have gotten a bank loan at the time but I decided that I was still in the process of learning so I began to let my operations support me and my business and have become profitable enough to make money while not taking any loans or lines of credit. If you do not want to/can't go with a bank/credit family for loans. Make them feel reassured by signing a promissary with them that you will pay them back after a certain amount of time.
How much do you think you need for start up?
I wish Bank of America forums would let us edit our post...but what I meant to say is to ask your family or close friends for loans if you do not want to go with a bank.
Oh ok well I dont think my family would do that because they really dont support and I was actually planning on going with a bank for a loan. But before I go take anything to a bank; at the moment I'm finishing up on my finances to actually see how much I am really going to need. And i believe this is the most difficult part for me; I dont know why though.
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I'm in the process of trying to get my clothing line together, I have my name and designs and everything. So I was wondering how much do you think I would actually need to succeed and begin. And also do you know who would be interested in helping me start and invest in my idea? I know I have everything that I need to help me except for the money thats a big issue at the moment. Please get back to me if you have any ideas; you can reach me at my email at email@example.com.