If you need a glamorous life… unless you’re Puffy..J-LO or Jessica Simpson you probably don’t need to start-up your own fashion line.

Ok, that may have come off a bit negitive..let’s try again..

The truth is if you’re starting a fashion line you should be mentally prepared and know that design is only about 10% of the work you have ahead of you…

The biggest challenge most newbies face involves business planning and management– including financial matters, finding resources and setting up a reliable infrastructure…

So what can you do to be prepared?

Do Your Research…  You don’t have to enroll in fashion college but you can read books like Fashion for Profit, by FBI founder Frances Harder and The Fashion Designer’s Survival Guide by Mary Gehlar.  These are two great reference books that once you buy them you’ll keep them as long as you’re in the fashion business and trust me they will never get dusty.

Also, get involved.  If you’re in Los Angeles seek out seminars that fit your business concerns at Fashion Business Inc. or become a member to join a network of like-minded entrepreneurs.  The membership package also includes discounts on a slew of apparel specific business resources.

Whatever you do…don’t be afraid to ask questions and you can’t be shy about asking for referrals.

Setting up is a process and sometimes take 6 months to a year before you are even ready to sell.  It’s a process and involves healthy doses of both patience and persistance.

If you’ve been in this industry more than a minute you probably have had some type of money issue with your customers.  Whether it’s paying late…chargebacks…or not paying at all, this is business and those things happen.  You just want them to happen…not so much.

Well, there are a few things you can do to spare yourself the drama of collections and the bad will that can accompany the process.

1.  Ask for a Deposit–While this is not as common as it needs to be…there are some companies that are very successful with collecting deposits prior to production.  Perhaps they have a very unique product or arrange to give their customers a small percentage off.  Keep in mind this is a bit of a unique request so try to be flexible with the details.

2.  Use a Reputable Showroom or Factor–People that screw people don’t always discriminate…but they may hesitate to play games when showrooms and/or factors are involved.  Using these outside agencies for sales and financial support can not only be extremely helpful with the cumbersome process of collections but they can also help to separate your brand from the big bad creditor.

3.  Don’t Do Credit--Some stores will demand credit in order to buy.  If its a fantastic, brand building store you may want to check their credit and opt to take the chance.  Otherwise defer to charging credit cards before shipment or collect COD.

Most importantly be clear on your terms and conditions and make sure expectations for delivery are explicit.  Pull out important tid-bits from your fine print and make sure your customer understands.

While green is always good…the new eco-chic is product people can typically afford in any economy.

Economy friendly products include items like accessories and small impulse buys that can keep customers connected with brands in times that bigger ticket items sit out of reach.

Creating items that appear to be natural extensions of your brand can be a creative new initative for your business and drive volume without distorting your image with drastic price cutting measures.

Just when we don’t need it bothersome new regulations have come to put a whole new wrench in the industry….

While it may be justifiable to be a little annoyed…it is not quite as ok to be ignorant. Violations of government regulations have been known to slam the doors shut of otherwise viable enterprises.

So what do you need to know about the Consumer Products Safety Improvement Act not to get put out in the cold?

Well first of all shipments of apparel whether imported or domestically manufactured will require a certificate of compliance regarding CPSIA. Every single shipment.

The details of exactly what compliance really means are a lot to get your arms around….so FBI has put together a seminar to lay out all the facts.

CPSIA as it relates to the apparel industry will be discussed by International Custom’s attorney  Roy Van Delbyck and Rick Horwitch of Solutions Business Development at Fashion Business Inc. this Monday December 15th starting at 4pm.

Attendance is free for FBI members and $25 for non members.

For those of you outside of CA we’re also doing a live taping so we can share these important new laws on our website soon.

Click here for more information and to register for the FBI’s upcoming CPSIA seminar.

These days Fashion is becoming a tougher and tougher sale.

Not only are people scared for their own pocketbooks in this tough economy, but they are sympathetic of others that may be even more adversely affected.

Also, contrary to perception of retail sales reports, job losses and industry bail-outs people are still spending money.

Case and point Barack Obama’s presidential campaign.  He raised more than any other presidential candidate in history…in one of the toughest economies in history.  Was it a miracle?  Maybe so.  But essentially people were buying into what they believed could be a better future.  To many people the ideas he presented were worth buying into in any economy.

That said…my point is that people who have money to spend want to spend their money responsibly.  They want to spend their money on not only things that matter but concepts and ideas that really matter to them.

As retailers and manufactures we have to ask ourselves…How responsible are we?  Are we keeping up corporate responsibility efforts in challenging times, doing the right thing and finding ways to support a greater good?

Whether you’re selling sweaters, sweatsuits or hope in a jar…find a way to use your products to make a difference. That difference could not only make a difference to society but to your business as well.

Save the Date…

Celebrate the Holidays with Fashion Business Inc.

The Fashion Business Inc. Open House is coming up on Thursday, December 17th from 3pm-7pm.

Stop by our offices in the New Mart to learn more about Fashion Business Inc., as well as how our industry partners and resources can help your business grow.

The event is completely free and wine and hors d’oeuvres will be served.

We hope to see you there…

Click Here to RSVP

We received an interesting message to our blog regarding the seemingly unintentional impact of online shopping…..to local businesses.  In these tough economic times this anonymous message reminds us that while our choices may be prudent they still can have a very big impact.  Something to think about….

A message from a small business owner to their local community…..

“While the Internet is addictive and shopping online is easy, please remember that every click of your mouse is another nail in the coffin of a local business. Maybe it’s a business you’ve patronized since you were a child, or maybe it’s a new shop.  No matter how long it’s been around, it’s a business owned by another human being who needs your attention. Want to do more than pull an angel off that angel tree?  Pull out your car keys and help your friends keep their jobs. Go buy just one item from your favorite local shop, get a purse repaired at the cobbler’s or have dinner with friends at that locally-owned small restaurant. You just may be helping them pay their utility bill or keep their employees for one more month, but you’ll have the eternal gratitude of the proprietor and their staff.

Your local businesses are not asking for donations, they just asking you to continue being their customer.”