To say that the fashion industry in the U.S. is enormous is an understatement. The market value of apparel and footwear in-store retail is a whopping $292 billion, and the entire fashion industry is projected to reach $390 billion by 2025.
If there’s the best time to enter this mammoth of an industry, it’s today. If you love fashion and you’ve wanted to start your own business, look no more. In this article, you’ll discover business opportunities that are perfect for you.
1. Start a clothing franchise
For those who want an easier start in a clothing business, getting a franchise is the best option. If you get a franchise, you won’t have to spend as much time building your brand because you’ll already have one. You’ll also get training on best industry practices, so you’ll have a better chance of succeeding.
Start by looking for clothing franchise opportunities in the city where you want to establish your business. You can also sell purely online or adopt an aggressive digital marketing strategy.
2. Be a fashion consultant
If retail is not for you, another option is to offer your own fashion consultancy services. As a fashion consultant, you’ll advise clients on makeup, hairstyles, accessories, shoes, and fashion trends to help them develop a style that suits their personality. This is perfect if you’re good at relating to people, and if you have an excellent communication style.
If you don’t have any prior experience in this field, you can try applying for a job as a fashion consultant first. Then, once you honed your skills and got an existing client base, you can venture as your own boss.
3. Start your own fashion line
This is a perfect opportunity for creative fashion designers to express themselves and establish a brand at the same time. You can start a shoe, handbag, jewelry, and accessories line.
Whatever your product is, since you’re starting a business from scratch and designing the items on your own, strategizing your branding early in the planning phase is crucial to your success. Max Bonbrest, the founder of AYR, a womenswear brand worn by the likes of Gwyneth Paltrow and Jessica Alba, spent the first six months of establishing her fashion startup solidifying AYR’s ethos and creating a visual and market identity. A solid branding strategy will direct your design and marketing plans for the long run.
4. Build your fashion blog
Although fashion blogging is a saturated market, the key to penetrating and succeeding in it is finding a unique angle and writing about it. Ariana Pierce, a fashion entrepreneur, credits her ability to write something different than the other bloggers as the key to her blogging success. For example, maybe you can write about how single moms can slay the day in style despite their busy schedules. Or maybe how teachers can look fabulous yet still professional.
Being creative is in your blood as a fashionista. You just have to find the right opportunity for you to start being your own boss and use your good fashion sense for entrepreneurship.