What is the minimum estimated capital required to launch a clothing brand in our days? How much did we spend before the first sale?
What factors should be considered when estimating startup costs for a clothing brand? What is the most crucial aspect to focus on? Are there options for cost savings, such as outsourcing versus in-house management? Should a significant portion of the budget be allocated toward marketing?
We were wrong in our predictions from the beginning. We made a lot of wrong movements:
- Attempting to create a website in-house proved to be a costly and time-consuming mistake. Despite the availability of tools for DIY website creation, our efforts resulted in a delay of almost a year in launching our clothing line. Ultimately, we found it necessary to seek professional assistance and the investment proved to be a successful decision.
- We initially focused solely on online sales and neglected alternative distribution channels. It was a mistake as we missed out on opportunities for selling through pop-up markets and partnerships with small businesses. We have since realized the importance of expanding our sales strategies and exploring different avenues for reaching customers.
- We initially invested in high-quality organic fabric and honed our sewing and pattern-making skills. We ordered roll after roll of fabrics. Should we purchase lower-quality fabric for practice purposes? Absolutely yes!
- The final aspect I would like to share about our past mistakes is related to marketing. Given its significance in business, it was important for us to consider hiring a team instead of trying to manage marketing efforts independently.
Although our mistakes resulted in the wastage of both time and resources, I view them as valuable lessons and a crucial part of my learning journey. Adopting this positive perspective helps me avoid negative self-talk and maintain motivation.
The answer to the question “How much do we spend before the first sale?”
The expenses before making our first sale were about $7800. After making the first sale, we continued to invest more funds. Some expenses were due to previous missteps, while others were valuable lessons learned along the way.