We want to thank everyone for coming out to our free seminars this week at the MAGIC show. We also have to apologize to those who were turned away when we hit capacity. The more the merrier…but you really can’t argue too much about a fire hazard;)

Whether you’re an FBI member or visiting our blog for the first time, we encourage you to submit your questions right here in our interactive forum. We know starting and managing a fashion business can be beyond challenging and we’re here to help you every step of the way.

We also encourage you to join the FBI , and become eligible for special rates on our seminars, workshops and computer classes…As well as major industry publications such as California Apparel News and the Textile Association of Los Angeles Guide.

FBI membership is the one industry resource you shouldn’t do without.

Click here to sign up today.

Are you ready to launch your apparel business and not sure where to start? Have you launched your business and need some extra guidance on how to make it work? It’s time to take charge of your business and your future.

Join consultant Robin Cornwall’s highly anticipated FBI Apparel Boot Camp class. The course will be a combination of lectures, group discussions, reading assignments, and Q & A sessions designed to get your company into tip top shape!

Topics covered in Apparel Boot camp’s 10 week intensive program include:

* Management (size, functions, expertise)

* Market Analysis (what to produce, for whom, at what price)

* Competition (product comparisons, distribution channels)

* Marketing Strategies (goals, tactics, timing, cost)

* Financial Projections (expenses, profit margins, sales volumes)

*To provide personalized attention this class has been limited to 20 students.

Class starts September 16th. Click here to learn more and sign up today…

MAGIC is here again!

If you’re attending the show make sure to stop by FBI’s free seminars on: Starting Your Own Apparel Business, Brand Building and Starting an Online Store.

Click here for a full listing of FBI’s Free Seminars at MAGIC.

See you at the show…

Wouldn’t it be great to take a photoshop or illustrator class and leave with a sample of your design actually printed on your product? How about getting a quick sample completed without having to run to your printer? At the Fashion Business Inc. we think so.

Now thanks to a partnership between Brother International and Fashion Business Inc., FBI’s Resource Center will be able to provide instant digital garment printing on-site.

No more taping paper print-outs to your tee shirts, trying to imagine what your final product will look like. The Brother GT-541 inkjet garment printer prints up to 14″ x 16″ graphics, is simple to operate and prints beautiful, high resolution full color graphics, using water based inks that can withstand repeated washings. Plus it’s conveniently located at the FBI Resource Center in the New Mart, right in the heart of the LA Fashion District.

After taking an introductory course on the machine the Brother Garment Printer will also be available for rental to the public with a special discount to FBI members of course.

For more information on classes and rentals of the FBI’s new garment printer please give us a call at 213. 892.1669 or shoot us an email at info@fashionbizinc.org.

Anyone who’s ever produced swimwear or foundations (which is a very pleasant word for underware,) will tell you it’s not 1/2 as simple as it seems.

With product which can hit your skin to skin literally all day the fit must be perfect. Or very close to it.

So when “fit” becomes of the absoloute utmost importance how do you deliver perfection?

Besides working with professional pattern makers, sample makers and cutters that have foundation specific experience– you as the designer and/or owner should become a fit expert….learning from your vendors as well as on your own.

Join the FBI and Michele De Lozier Saturday, August 30th from 9:30 a.m till 12 noon, for our:

Lingerie and Swimwear Fit Workshop…

Michele a 30 year vet of the Foundations and Swimwear Industry will cover:

–How to Achieve a Perfect Fit with Stretch Fabrics

–Using Special Threads and Elastics to Acheive “Fit” Perfection

–Quick Pattern Adjustments that Make a Big Difference

and more….

Visit www.fashionbizinc.org or call 213.892.1669 for more information.

What could possibly be wrong with having tons of great options within your collection?

You run the risk of having too many great options.

Over assortment can lead to paralyzing the customer’s choice overall. By being overwhelmed with multiple options that essentailly serve the same cosmetic and functional purposes the choice between them becomes a lot more difficult.

The buyer thought process may go a little like this…

Same cut…same price….same fabric….same collar…oh but look the sleeve it is a little different…

I could get both but each style has minimums…. I could get one or the other but which one is really best???

If this one was so great why do they have two that a so similar???

Oh gosh now I am confused. Maybe I’ll look at some other lines.

My point….Make your buyer’s choices clear. Would they want this or that…or both?

By properly merchandising your collection you make things easier on your customers and ultimately much easier on yourself.

Offering clear choices can help you reach your production minimums a lot more quickly…..and also make all of your production costs a lot less expensive.

Is having debt in your company better than giving away equity?

Seemed like an easy question…I mean after all who needs more debt?

In the FBI Lunch and Learn seminar Debt vs. Equity, FTC Commercial Corp. President Ken Wengrod carefully explained the advantages and disadvantages of both financing methods.

My takeaway…. Giving someone equity in your business in exchange for financing is in essence making them a partner in your business. They’ll be concerned with the in’s and outs and have certain rights to your business and records that someone simply giving you a loan won’t necessarily have. They lose big when you lose big. They win big when you win big. This can be a very good or a very bad thing depending on who your equity partner is and what besides raw capital they are actually contributing to the business.

On the other hand, taking a loan from a person or entity is very different. They get their money back on a certain timetable no matter what. You do good…they get their investment and interest back…you do bad they are entitled to get their investment and interest back. It’s a lot more “hands off.” Again this can be a good or a bad situation. Especially bad if you do bad… Get it?

The main point….It doesn’t pay to make financial assumptions. In fact it does quite the opposite.

It’s important to understand what you need from both a human resources and financial perspective before making major financial decisions. Choosing debt vs. equity financing is too important to in any way be a caviler decision.

This crucial choice is an instance when working with a savvy financial professional could be worth it’s weight in gold….literally.

As the L.A. Shows come to a close it’s time to follow up. Even though the show is done you should still be in heavy sales mode.

• Mail. Send another postcard reminding buyers of delivery dates (you may want to use the ones you sent for pre-show promotion and attach a sticker with the latest available deliveries).

• Email. If a store took notes on your product shoot them a quick email to thank them and remind them of specific delivery dates. You also may want to send them a digital picture to get them excited again.

• Call. Many people believe telemarketing has gone out of style. It is becoming more and more rare and that’s exactly why it can be more valuable than ever. Giving buyers a call perhaps when their stores are less busy…right after they open.

Remember the game is not over yet! You’ll be surprised at what following up can do.

If you’re a designer at market week you probably have no time to read this post. However, if you’re aspiring to do a L.A trade show in the near future…it’s time for you to go out and see if one of these shows may eventually be for you. So get you pad…your pen and your best outfit of course and head downtown.

Take notes on how buyers are shopping (Do they seem very directed…or wandering). Do you see buyers carrying any promotional items (tee shirts, bags, pens…what stands out?). Are there any seminars you could benefit from attending? What booths look the most inviting? Are a lot of people writing orders? What are sales reps or designers doing that may turn a buyer off…or on for that matter.

If you’re serious about starting your line now is the prime time to do your homework. Just don’t be too obvious….for the most part if you’re not a buyer or member of the press other designers aren’t necessarily thrilled at your presence.

Contact the sales offices of the Major trade shows going on this week such as Brighte–Contemporary, Transit–Shoes and Designers and Agents which focuses on contemporary as well as new designers.

Shows start today. Check www.californiamarketcenter.com and www.designersandagents.com for more information.

A lot of companies will simply add their fabric, trim and labor costs together to land at the baseline cost they’ll use for mark-up. Then they multiply the total by 2.2-3.0 to arrive at their wholesale price. Viola!

Well not really.

When costing your products its important to take an “all things considered approach.” It’s not all about the physical product. What about overhead? Sales rep percentages? Hangtags? Your Labor (even if you don’t pay yourself yet), Chargebacks? Who’s going to pay for that?

Then you have to balance all this with the fair market value of your merchandise.

Unless you want to inadvertently establish yourself as a NON-profit you have to get a strong grasp of how to cost for profit.

To get your arms around the concept of costing I highly reccomend Frances Harder’s mini book “Costing for Profit.” The book is small…easy to read and takes nothing for granted. It provides you with a full picture of how to effectively cost your goods so you can stop guessing and start making money!