It’s not money that makes well-dressed—it’s understanding. – Chritian Dior
Many Online Fashion Startups start their business by looking for outside funding. The thing about borrowing money is that – you have to give it back….quickly! You don’t have the freedom to grow your business at your own pace.
We recommend that you start small and do what you can with the cash on hand.
Let us tell you why you don’t need lot of money to get rolling.
a) You don’t need lot of money to build audience
If you’re creative or perhaps have someone in your team who can create inspiring content for your brand. You can publish content for free using free platforms such as – WordPress, Tumblr, Blogspot. And Social Media Sites like Facebook, Instagram, Pinterest & Twitter are free too – you can use them to float your content. This is all you need to build an engaging audience; and once you have an audience you can sell them whatever you like.
b) You don’t need a $10,000 website
Website development is one of the areas where many Fashion Start-ups invest a lot on money early on. You don’t need a $10,000 website to start selling on the Internet. It’s good if you can but if you can’t, it should not stop your from starting-up. There are plenty of places where you can sell things without spending a lot of money – Storenvy (Free), Shopify, ebay etc.
c) Try to make profits by rotating small inventory
When you’re starting-up, you don’t know what will sell and what wouldn’t. So, don’t invest too much in the inventory and don’t commit yourself to a product or a category early on. Experiment with a small inventory. Try to rotate products quickly and make profits from it.
If you’re starting an online Fashion store to make a quick buck, it will show. Truth is that your business will takes its own sweet time to flourish.
When you have less money, you see more clearly. You do what’s really required at the current stage of your business. It forces you to be creative and minimize wastage.
So, don’t let money be an excuse for not starting-up. The beauty of Fashion business is that it can be started very small and be scaled-up to any level you want.
Just focus on finding your core product and building an audience with whatever little money you have.