guide on beginning your apparel related business
Transcription
guide on beginning your apparel related business
Enabling Apparel Entrepreneurship Curriculum Written by Candide Uyanze Published December 2015 Supported by: 2 EAE Curriculum How to Start an Apparel Business - Table of Contents Make a Business Plan................................................................................................ 3-7 What is a business plan? ................................................................................................. 3 Benefits of writing a business plan ................................................................................. 3 Elements of a business plan ............................................................................................ 3 Writing Tips ..................................................................................................................... 5 Templates, examples and helpful websites .................................................................... 6 Manage your finances............................................................................................. 8-11 Start-up Costs .................................................................................................................. 8 Sources of Financing........................................................................................................ 9 How to make a Budget .................................................................................................. 10 Taxes .............................................................................................................................. 11 Additional resources ..................................................................................................... 11 Sell your merchandise and services ....................................................................... 12-16 Online vs physical store ................................................................................................. 12 Opening a store ............................................................................................................. 13 Additional information for physical stores ................................................................... 15 Additional information for online stores ...................................................................... 15 Other ways to sell .......................................................................................................... 16 Reach and keep your customers ........................................................................... 17-21 Building and promoting your brand .............................................................................. 17 Building an online presence .......................................................................................... 19 Be realistic ............................................................................................................ 22-25 Assessing your business ................................................................................................ 22 Advice ............................................................................................................................ 24 Grow as an apparel entrepreneur ......................................................................... 26-31 Support for small businesses ....................................................................................... 26 Conferences and events ................................................................................................ 28 Fashion shows in the area ............................................................................................. 29 More resources ............................................................................................................. 30 3 EAE Curriculum Make a business plan Every good business needs a plan. This chapter will explain what a business plan is and how to write one. What is a business plan? A business plan is a written document that describes your business’s future. It explains what you plan to do with your business and how you will do it. (Source: www.entrepreneur.com/article/247574) Benefits of writing a business plan It gives you a direction and path for the future of your business. By writing everything down, you can think more about your business and the challenges and opportunities that may happen. It minimizes the risks by helping you consider every possible consequence. It is good document to provide to possible investors and lenders such as bank. Some places even require you to have one. It increases your chance of success. (Source: www.futurpreneur.ca/en/resources/start-upbusiness-planning/crash-courses/business-planessentials-a-quick-overview-of-whats-needed/) Elements of a business plan Your plan should include the following items. Some plans are made differently and include more things, but these are the basic elements. 4 EAE Curriculum Executive summary Here is where you name your business and give a quick overview of your business plan. It is about 1 to 2 pages long. Be sure to include a quick description of the other sections of the plan so that the reader will want to continue reading. Company profile Here, you explain what your business is all about. Talk about the company’s history, its values, your products and services, and who you are. What makes your company special? Market research Make sure to do some research on the clothing industry, your competitors and your Product: What kind of items or services are you selling? Price: How much will you charge? Why? What are other people charging? Place: How will you get your products or services to your customers? Purchasers: Who are your customers? How old are they? Where do they live? What are their habits? Etc. customers. Include all of this in your plan. In this section, remember the four Ps: For more information on how to do research for your business, consult the “Guide to market research and analysis” by visiting: www.canadabusiness.ca/eng/page/2691/ Sales & Marketing Strategy Once the research is done, you need to describe how you will attract your target clients and advertise your business. Describe in detail the marketing and publicity you will do. For more information on marketing, consult “Marketing basics” at: www.canadabusiness.ca/eng/page/2805/. You will also learn more about publicity in the chapter “Reach and keep your customers”. Operations Here, you will describe how you will keep your business running. This can include: Daily operations: A general description of the day-to-day operations (example: hours of operations, daily tasks, etc.). 5 EAE Curriculum Facility requirements: The location of your business, the size, the lease (if you are thinking of opening a physical store), insurance, etc. Managing information systems: how you will keep track of customers, manage your inventory, the system or software you will use, etc. For more information on managing day-to-day operations, visit: www.canadabusiness.ca/eng/page/3427/. Financials In this section, you will explain everything related to finances and money management of your business realistically. This includes your budget, startup costs, how much you will be making vs how much you will be spending, etc. A more detailed explanation will be provided in the chapter called “Manage your finances”. Here are some things to consider: o What are your sources of income? o How much money do you need to start your business? o Will you need to borrow money? If so, how will you repay your lenders? o How much do you plan to save for emergencies? You should aim for your business to make money in the long-term future instead of making money right now. Appendix Here, you can include any additional documents related to your business, such as pictures or drawings of your products, your resume, a list of your achievements and awards, a copy of your business license, your store layout, etc. (Sources: www.canadabusiness.ca/eng/page/2753 and www.futurpreneur.ca/en/resources/start-upbusiness-planning/crash-courses/business-plan-essentials-a-quick-overview-of-whats-needed/) Writing Tips Start small, writing section by section 6 EAE Curriculum Write in the third person: Instead of “I started an apparel business” say instead ⇨ “She/They started an apparel business” Keep it short and sweet Be clear and specific with your words Provide as much proof and evidence as you can and use specific examples Write the executive summary at the end. It will be easier to give a quick description of your document once you thought it through. Get feedback Remember that your business plan is always a work in progress, so update it regularly (Source: www.futurpreneur.ca/en/resources/start-up-business-planning/crashcourses/business-plan-essentials-a-quick-overview-of-whats-needed/) Templates, examples and helpful websites Futurpreneur’s free Business Plan Writer is a great tool to help you with your business plan. It gives you plenty of tips, tricks and examples to help guide you as you write. Create an account and use the tool here: www.futurpreneur.ca/resources/start-upbusiness-planning/tips-tools/business-planwriter/ Business Development Bank of Canada offers a blank business plan that you can fill out, an example of a business plan as well as instructions and helpful articles that you can download here: www.bdc.ca/EN/articles-tools/entrepreneur-toolkit/templatesbusiness-guides/Pages/business-plan-template.aspx Here are some examples of business plans for different types of apparel businesses: Women’s boutique: www.morebusiness.com/retail-clothing-business-plan Upscale women’s clothing boutique: www.bplans.com/womens_clothing_boutique_business_plan/executive_sum mary_fc.php 7 EAE Curriculum Bridal shop: www.bplans.com/bridal_shop_business_plan/executive_summary_fc.php Maternity clothing: www.bplans.com/maternity_clothing_online_business_plan/executive_summ ary_fc.php Active wear for all ages: www.bplans.com/kids_clothing_store_business_plan/executive_summary_fc. php Custom T shirts: www.bplans.com/custom_printed_tshirts_business_plan/executive_summary_fc.php Western Cowboy Wear: www.bplans.com/clothing_retail_business_plan/executive_summary_fc.php Most big banks have guides on how to make a business plan with their own rules. If you plan on taking out a loan with a bank, here are each of the websites that help you make your plan: Bank of Montreal: www.bmo.com/main/business/news#tools CIBC: www.cibc.com/ca/small-business/article-tools/business-planning.html RBC Royal Bank: www.rbcroyalbank.com/business/startingabusiness/planning-yourbusiness.html Scotiabank: www.scotiabank.com/ca/en/0,,588,00.html TD Canada Trust: www.tdcanadatrust.com/products-services/smallbusiness/windocs.jsp# Desjardins: www.desjardins-business-tools.com/interactive-business-plan/ For any additional questions about business planning, visit Canada Business Network’s “Business planning Frequently Asked Questions” here: www.canadabusiness.ca/eng/page/2751/ 8 EAE Curriculum Manage your finances Once you’ve started your plan, it’s time to think about how you will manage your money. This chapter will explain budgets, start-up costs, sources of financing and taxes. Start-up Costs When you first open your business, there will be things you will need to buy before you begin, especially if you are opening a physical store. These are your start-up costs. Determining start-up costs is a great way to set goals for yourself on how much money you will have to raise. It is also a good way to minimize unwanted surprises because of overspending. There is no magic number for startup costs. The amount will be different based on whether your business is online or physical, the type of products or services you are selling, your location, and many other factors. It is important to do a lot of research and write down everything you will absolutely need to open your business. Here is a list of things that could be included in your start-up costs. These are simply examples: Raw material costs: fabric, labels, packaging, etc. Marketing and publicity Good quality photographs of your products Interior design and renovation for a physical store Website design and publishing Business registration Rent (usually first and last month), insurance and utilities for a physical boutique Store opening event Sewing supplies Cash register or point-of-sale system Hangers, furniture, store decorations 9 EAE Curriculum Computer system and other equipment Inventory: the items that will stock your shelves Mannequins and other displays And much more! To get a Start-up costs document template that you can fill out, click on the green download button at the following web address: www.vertex42.com/ExcelTemplates/business-startup-costs.html (Sources: www.mytopbusinessideas.com/cost-starting-a-clothing-line/ ; www.forbes.com/2007/01/09/startupcost-inventory-rent-ent-managecx_mf_0109fundamentalsretailcosts.html and www.wecai.org/7004/top-4-benefits-of-a-business-sellingonline-vs-a-physical-store) Sources of financing Once you determine how much you will need to start, you will have to find ways to make that money. This is, of course, the hardest part. This money can come from multiple sources: your savings, cash gifts from family and friends, government grants (money you usually don’t have to repay), loans (money you have to repay), etc. Here is a list of websites where you can find information about funding for your business: To learn more about the different types of financing that exist, visit this website: www.canadabusiness.ca/eng/page/2868/sgc-35/ Find a general list of grants, loans, tax refunds, and more offered by the government of Canada here: www.canadabusiness.ca/eng/page/2848/ The Centre for Small Business Financing has an online Grant Finder which can be found here: www.grants-loans.org/grants-loans-calculator/grantfinder.php. You can also call them at 1-800-481-7718. The Leadership Grant is an award given to entrepreneurs who are starting their own businesses. For more information, visit: www.leadershipgrants.ca/LeadershipGrants/grants_programs.jsp Futurpreneur Canada offers mentoring and up to 15 000$ in loan financing to business owners aged 18-39 who are citizens or permanent residents of Canada. To register, follow this web address: www.portal.futurpreneur.ca/entrepreneur.php?&lang=EN 10 EAE Curriculum (Source: www.futurpreneur.ca/en/resources/start-up-business-planning/crash-courses/financials-gettingthe-most-for-each-start-up-dollar/) How to make a budget A budget is a document that shows how much money you expect to make (revenue) and how much you expect to spend (expenses). A budget is usually done for each month. Make a budget as soon as your business has started. Here are the benefits of making a budget: Deciding what you really need to buy and what isn’t important Seeing where you can save money Making sure you have enough cash with you for the next purchases Looking at your finances realistically Planning for the future Showing your investors that you have put effort in your financial planning. To make your budget begin with the revenue, which is how much you expect to make and any money you have left over from before. Try your best to be realistic and not put an amount that is too big. Depending on the time of the year, your revenue will change from month to month. Once your business has been running for a year or more, you can look at how much was made in the same month the year before as a guide. Then, write down your expenses, which is how much you will spend. Expenses include: o Fixed costs (costs that never change): This can include rent, utilities (heating, lighting. telephone), employee salaries and benefits, taxes, insurance, etc. o Variable costs (costs that can change): For example, publicity costs for your business, the cost of your sewing materials, loans that must be repaid, etc. o One-time purchases: This can include buying a new sewing machine, purchasing a computer, etc. Add up the costs of each item in the revenue section of your budget and add up all the expenses. Compare both total numbers. If your expenses are higher than your revenue, you will need to see what you can remove from your expenses. 11 EAE Curriculum Make sure to always review your budget and make a new one for the next month. When the month is over, make a new document of what you actually spent and how much you actually made. Make sure to keep the new document, all the budgets you made, and the receipts of things you bought for your financial records. For more information on organizing your financial records and what kind of documents to keep, visit this web page: www.canadabusiness.ca/eng/page/2640/sgc-35/ (Sources: www.infoentrepreneurs.org/en/guides/budgeting-and-business-planning/ and www.canadabusiness.ca/eng/page/2642/sgc-35/) Taxes Since your apparel business will (hopefully) be making money, you will need to pay taxes. Taxes help to pay for a lot of the benefits and services for you and the rest of the people who live in Canada. Canada Business Ontario offers a Taxation guide at this webpage: www.cboeco.ca/en/index.cfm/managing/taxes/taxation-guide/. It explains the different kinds of taxes and numbers you can call if you have more questions. The Canada Business Network also has a lot of information about taxes that apply to businesses here: www.canadabusiness.ca/eng/page/4337/#toc_regulations_and_taxation. Additional resources The Financial Consumer Agency of Canada has many resources to help you understand things related to finances: A quiz/test to see how well you manage your money: www.itools-ioutils.fcacacfc.gc.ca/FLSAT-OAELF/star-comm-eng.aspx How to choose a credit card and pay your balance: www.fcacacfc.gc.ca/Eng/resources/toolsCalculators/Pages/CreditCa-OutilsIn.aspx Which bank account is right for you? : www.fcacacfc.gc.ca/Eng/resources/toolsCalculators/Pages/BankingT-OutilsIn.aspx Budget calculator (to see if your budget is realistic): www.fcacacfc.gc.ca/Eng/resources/toolsCalculators/Pages/BudgetCa-Calculat.aspx 12 EAE Curriculum For more information on finances for small businesses and self-employed Sell your merchandise and services individuals, visit www.cra-arc.gc.ca/tx/bsnss/sm/menu-eng.html. Now that you’ve carefully planned your business, it is time to sell your products and services. This chapter will help you decide what kind of store you should open and how. Online store vs physical store An important decision to make before you begin selling your apparel and services is whether you want to open a physical, brickand-mortar store or have an online store. To help you decide, the positives and negatives of each type are listed here: Physical Store Positives and advantages It is proven that people are willing to pay more for things they can see in person. There is less competition in a physical marketplace than an online marketplace. You get to interact with your customers, suggest more items for them to buy, etc. People trust physical stores more because it shows that you are financially stable. ⨯ ⨯ ⨯ ⨯ ⨯ Negatives and disadvantages Because of rent, utility, decorations, employee salaries, etc. it is more expensive to open than an online store. Your main customers are those who live in the area. Changing your company’s name, logo and look is expensive. You can’t sell items outside of your store hours. You have to deal with the legal paperwork of opening a store. 13 EAE Curriculum Online Store Positives and advantages Less expensive and easier to open than a physical store You can have customers from around the world. You can sell your clothing at all hours of the day Making changes to your company’s name, logo, look, etc. is quick, easy and inexpensive It is harder to steal items online than in person. You can work from home Less employees to hire ⨯ ⨯ ⨯ ⨯ ⨯ Negatives and disadvantages More competition from all around the world Taking pictures, writing descriptions, packaging and shipping your items takes time and effort Less customer contact You will have to deal with more returns because people may not like how the item looks once they receive it. If you’re not good with technology, you’ll have to hire someone else to run the business (Sources: www.smallbusiness.chron.com/pros-cons-retail-store-vs-online-store-40789.html ; www.wecai.org/7004/top-4-benefits-of-a-business-selling-online-vs-a-physical-store AND www.business2community.com/consumer-marketing/online-versus-offline-the-pros-and-cons-ofonline-retail-0205608#8B5tHZ5r2oORRmmc.97) Opening a store 1. Once you have finished your business plan and have gotten funding, the next step is to register your business’s name. The cost is from 60$ to 80$ and is valid for 5 years. You can register your business: a. In person at a ServiceOntario center. b. By mailing an application to the address on the form. c. Online at ServiceOntario’s website. You will need to sign up for a ONeSource account here: https://goo.gl/8XFq0j 2. Just like you need a driver’s licenses to be able to use a vehicle, you will need to obtain certain government permits and licenses to be allowed to have a business. 14 EAE Curriculum To find out which ones apply to you, click on “Find permits and Licenses” at www.canadabusiness.ca/eng/page/2843/sgc35/#sgcselect. Since you are in the apparel business, you will have to respect the “Textile Labelling and Advertising Regulations” to make sure you are labelling your products correctly. To read this guide visit: www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/01249.html Manufacturer, processors, sellers, importers and finishers of textiles in Canada can register for a CA Identification Number. A CA Number replace the name and postal address required on the label of textile products. To find out more, visit: www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/h_02575.html 3. If you plan on importing/exporting products, will be hiring employees, or want to claim tax credits, you will need to obtain a business number. Your business number is like an account number for dealing with the Government of Canada. To get it, you can: a. Use the Business Registration Online (BRO) service at: www.craarc.gc.ca/tx/bsnss/tpcs/bn-ne/menu-eng.html b. Call the Canada Revenue Agency at 1-800-959-5525, or c. Visit a tax services office. 4. If you don’t plan on making all your clothing yourself or have a large customer base, consider getting a supplier. A supplier will provide you with the products you will need to run your apparel business. For more information on finding and managing suppliers, read this article: www.canadabusiness.ca/eng/page/2790/ 5. Your inventory is the number of products you have in stock available to sell. By keeping track and managing your inventory, you will know which products are popular and which aren’t. Here are some tips: Keep records of your inventory. Consider using an inventory control software, like inFlow Inventory (which is free!): www.inflowinventory.com 15 EAE Curriculum Make sure you order enough items from your supplier to have enough to sell. Follow the trends in the apparel industry and order more of what will be popular. If you have items that you are having a hard time selling, consider having a sale or giving discounts. Plan ahead and make sure you have a second, back-up supplier. (Source: www.canadabusiness.ca/eng/page/2636/sgc-35/) 6. If you plan on having employees in your business, read these articles: a. Steps for hiring and finding employees: www.canadabusiness.ca/eng/page/2837/sgc-35/ b. Your obligations as an employer and how to manage employees: www.canadabusiness.ca/eng/page/2835/sgc-35/ (Sources: www.cbo-eco.ca/en/index.cfm/starting/getting-started/retail-business-guide/ ; www.cboeco.ca/en/index.cfm/starting/getting-started/starting-a-business/ AND www.ehow.com/how_6760855_start-retail-business-ontario.html) Additional information for physical stores Before opening your store, make sure you have a retail identity prepared. A retail identity is the look of your business. It includes your logo, signage, pricing, products, things to display your products (such as hangers, furniture, mannequins), etc. Chose a location for your business that is near your target buyers and that is visited by a lot of people. Find out more about choosing the right location by accessing this webpage: www.cbo-eco.ca/en/index.cfm/starting/choosing-a-location/choosing-and-settingup-a-location/ and this one www.canadabusiness.ca/eng/page/2851/ (Source: www.ehow.com/how_6760855_start-retail-business-ontario.html) Additional information for online stores 16 EAE Curriculum A simple and fast way to start an online business is to make an account on online marketplaces. Websites like eBay.ca and Etsy.com are easy ways to sell your items online on a global scale. To use these websites, you will probably need to have a Paypal.com account so that your customers can use their credit cards to pay. It is important to know that eBay, Etsy and Paypal each take a certain percentage from your sales and may charge you to post an item. Here is a Seller Handbook by Etsy that gives you advice on running a successful online shop: www.etsy.com/ca/seller-handbook Here are the fees for eBay: www.pages.ebay.ca/help/sell/questions/whatfees.html Here are the fees for Etsy: www.etsy.com/ca/help/article/136 Here are the fees for Paypal: www.paypal.com/ca/webapps/mpp/merchantfees If you would like to sell your items online locally without having to pay fees, Kijiji.ca or Craigslist.ca is a good place to start. If you would like more flexibility in your online store’s design and want it to look professional, consider using Shopify.ca, an easy to use online business tool for those who are new to online commerce. Shopify’s lowest plan starts at 9$ a month. For more information on Shopify’s features and their pricing plan, visit: www.shopify.ca/pricing#PricingTable To learn more about exploring the world markets and exportation, visit: www.cbo-eco.ca/en/index.cfm/growing/exporting-andimporting/exporting-to-world-markets/ Other ways to sell Is selling online or opening a store not exactly your thing? Would you like to start your business on a smaller scale? Or would you like to only sell your merchandise on certain occasions? Here are other ways to sell your products and services: You can work from home You can contact the leasing manager of a mall and set up a kiosk 17 EAE Curriculum You can participate in craft shows and other artistic events where you can sell Reach and keep your customers your creations You can have a catalogue of what you make and take orders You can bring your services to your clients’ homes (Source: www.canadabusiness.ca/eng/page/2690/) Your plan, finances and store are ready. Now all you need is customers! This chapter will explain how to let your clients know about your business. Building and promoting your brand Your brand is the image and identity of your business. Think of the values and qualities you want your business to represent. For example, if your business is about making clothing with African prints, then everything about your brand should show this. Your brand includes: o Your business’s name. Make sure that the name is not similar to another business and has acceptable words. For more information on naming your business, visit: www.corporations.ic.gc.ca/eic/site/cddgc.nsf/eng/cs01191.html o The names you gives to each product o Slogans (a catchy phrase), if you want to have one o Your logo o The packaging of your products o Your website and other social media o The way your store is designed o How your employees are dressed, if you have a physical store 18 EAE Curriculum o Your advertising o Your business cards o Your social media accounts o Etc. Since other stores might be selling similar products or services, it is important for your business to stand out and be unique. Here are some ideas on how to make your business different: Have more stylish and rare designs than what already exists Focus on providing products and services of high quality and value Offer services and products that aren’t available anywhere else Have a good reputation and get to know your customers If you plan on opening a physical store, chose a location where there aren’t other stores who offer the same thing In your business plan, you have thought about who your customers are. To attract them, you will have to make publicity based on where they live, what they like, how old they are, what they like to do, how they spend, where they shop, etc. For example, if you are selling maternity clothing online, you could advertise your business on maternity websites. Here are some suggestions on where you can advertise your business. It is not necessary to use all of these. Instead, decide which ones are the best to reach your specific clients: Traditional advertising: online, television, radio, magazine, newspaper, billboard, posters, etc. Word-of-mouth: This is when someone talks about your amazing business to someone else Listings: Websites like Kijiji and Craigslist are a great place to advertise your business for free Promotion: e-mail newsletters, samples, gifts, discounts, coupons, sales, events such as fashion shows Networking: Attend events and use social media to connect with potential customers and other people in the apparel business (Source: www.canadabusiness.ca/eng/page/2638/ and www.canadabusiness.ca/eng/page/2690/) 19 EAE Curriculum If you want to learn “5 Tips for Connecting with Your Customers and Making More Sales”, visit: www.shopify.com/blog/7664211-5-tips-for-connecting-with-yourcustomers-and-making-more-sales. Building an online presence Today, people spend a lot of time on the Internet and use it for different things. This is why it is very important for your business to have some information online, even if you are not selling your items online. Having a presence on the Internet is a great way for more people to find out about your business without having to spend a lot of money. It is also a great place to interact with customers and other business entrepreneurs like yourself. Here are some of the ways you can create an online presence: Set up an e-mail account An e-mail account is like your mailbox on the Internet, where you can send and receive online mail. Instead of a street address, you have your own e-mail address that will start with your account name, the “@” symbol and the name of your email service (example: ilovesewing@yahoo.ca). Having an e-mail is the very first step in having an online presence, since almost all websites require an e-mail to create an account. You can also create a mailing list with your e-mail where you can inform your customers about promotions and news. Many websites offer free e-mail accounts. The most popular services are Hotmail, Gmail, Yahoo! Mail, and Outlook. Choose the e-mail service you feel the most comfortable with. Use social media websites Social media is a way to communicate, share, create and collaborate on the Internet. Hundreds of social media websites exist today for everything imaginable. However, it is not necessary to sign up for every social media website that exists. Simply chose the ones you think best suit your business. 20 EAE Curriculum Here are some of the most popular social media websites that could be useful for your apparel business. Facebook Facebook.com allows you to create a profile, keep in touch with family, friends and other people you meet, send messages, and share “posts”, which can be photos, videos and announcements (which are called a “status”). As a business entrepreneur, you can use Facebook to create a page for your website. On this page, you can give information about your store (hours, location, how to contact, etc.), write announcements, share photos of your creations, and advertise. People who will want to receive this information will “Like” your page. To create a page, first create an account for yourself and then click on “Create Page”. Twitter Twitter.com is a text-based website where you can send short messages, pictures and videos to the Internet called “tweets”. These tweets cannot go over 180 characters, and once they are published, other users can “Like”, “Retweet” (publish your tweet on their own account) or reply to your message. If you want more people to find your tweets, you can use the hashtag symbol: #. For example, a tweet about a nice handbag could have tags like #style, #fashion, #handbag. You can also mention other users on Twitter by using the “@” followed by their “Twitter Handle”, which is their username. For example, “Follow @EcoEquitable to see some nice handmade products”. As a business entrepreneur, you can use Twitter to give quick, short announcements about your products and services as well as re-tweet a message people who give positive feedback about 21 EAE Curriculum your business. People who want to receive these messages are called your “Followers”, and you can also follow other people. To create a Twitter account, go to www.twitter.com/signup. Instagram Instagram.com is a picture-based application that allows you to publish pictures and videos. Similar to Twitter, you can have “Followers” and follow other users, use hashtags, mention other users, “like” what people have published and comment on people’s posts. What makes Instagram unique is the filters, which are interesting effects you can put on your pictures. As an apparel entrepreneur, you want to use Instagram to show your products. Make sure your pictures are interesting and well taken. To create an account, you will need to download the Instagram application on a mobile device such as a smartphone, an iPod touch or a tablet. The app can be downloaded either from Google Play (Android) or the App Store (Apple). You can view your account on a computer but can only publish on a mobile device. LinkedIn LinkedIn.com is a website made specifically for professional individuals. It is kind of like an online business network where you can publish your resume and find jobs, news, advice, and other business entrepreneurs. To create an account, visit www.linkedin.com/start/join?trk=hb_join. Pinterest Pinterest.com is a website used mainly to share images and create a “Board” of images. Each image may have a short description, and clicking on it will bring the user to the original website. As a business entrepreneur, Pinterest is especially useful to attract customers from around the world 22 EAE Curriculum Be realistic if you have an online business. To sign up, visit: www.pinterest.com/join/ Don’t forget to update your social media regularly and interact with your customers. (Sources: www.whatis.techtarget.com/definition/social-media and www.linkedin.com/about-us?trk=unoreg-guest-home-about) Between planning your business and actually making it a reality, a lot can happen. Even the best prepared entrepreneur can go through unexpected problems. It is important to know that things will not go exactly as you planned. This chapter will explain how to look at your business realistically and give advice to keep you motivated. Assessing your business An important part of planning a business is to think about your S.W.O.T., which stands for Strengths, Weaknesses, Opportunities and Threats. Strengths This can include: - Your skills and talents (ex: sewing, alterations, etc.) - Your positive traits and qualities (ex: responsible, organized, kind-hearted, friendly, etc.) - What you are best at doing - What you have that other businesses are missing - What makes your business stand out and be unique Weaknesses This curriculum covers many elements needed to plan and build a business, but no one can be good everything. Maybe you’re not the best at using the Internet, or maybe you’re not comfortable dealing with finances. It is very important to be honest with yourself and think about what you need to work on, and also to listen to 23 EAE Curriculum other people’s feedback. Also, don’t be afraid to ask others for help or hire people to do certain tasks. Opportunities Here are questions you can ask yourself to consider your opportunities: - Am I the only entrepreneur with this kind of business in the area? - How can I expand and grow my business in the future? - Are there fashion or business events I can attend to learn more? - Can I collaborate with other businesses and entrepreneurs? If so, which ones? - What are the creative ways I can use to promote my business (example: sponsoring a sports team, appearing on a community channel like TV Rogers, etc.) Threats Here are some of the challenges that you may face as you build your apparel business: - Not having enough money: Finding money to start your business can be the hardest part. This is why it’s important to start small. - The high cost of producing apparel: The price of materials to create clothing is rising, which can make the final price high. This could drive away some customers. - Unexpected business payments: There might be some things you have to pay for because of accidents or because you didn’t know. Make sure you have some money put aside for emergencies. - Manufacturing problems: If you decide to get a manufacturer, finding one that is dependable and trustworthy can be a challenge. Make sure to read reviews and ask around about the best manufacturers. - Not finding inspiration: If you are designing your own clothing, you may have times where you can’t find any new ideas and lack inspiration. Consider buying designs from other people or hiring designers. - Publicity that doesn’t work: Sometimes, you might spend a lot of money to promote your business, but realize that it wasn’t effective. This is why it is very important to do research on your target purchasers and see where other businesses like yours advertise to know what works. 24 EAE Curriculum - Competition Other businesses copying your designs, etc. (Sources: www.canadabusiness.ca/eng/page/2660/ ; www.canadabusiness.ca/eng/page/2753/#toc_strengths_weaknesses_opportunities_and_threats_analysis and www.mytopbusinessideas.com/challengesstarting-clothing-line/) What do your customers think of your products and services? Get regular feedback and learn from negative criticism. “Don’t be something that you’re not. […] It’s okay to dream, but realise what you’re good at and really focus on that.” – Christopher Kane “Find a way to tell a story about your products.” – 3sixteen “Don’t worry about everything being perfect before getting started – it won’t ever be perfect.” – Holy Crap Cereal from experts and other who were once in your Do not ignore your competition. Look at what they are doing to be successful. “It’s always important to be expanding knowledge in what your passion is. You need to keep up to date.” – Ingrid Tiffe “Don't stop testing.” – Soaring Heart “Be very selective of who you hire into your company.” – Regal Gentleman “Never ever give up on your dreams and your passions. Life is too short and you are here for a powerful purpose and you deserve to lead a life of your dreams but if you quit on yourself you are hurting no one but you.” - Let’s Hug It Out Set goals for yourself regularly. Make sure they are realistic so you don’t get discouraged. Be perseverant and patient. Having an apparel business is “like marriage: When times get tough, you need to remember why you took those vows in the first place.” “A customer that feels included will come back!” – Earth Garden “If you love what you want to sell, and you believe deeply in its value, [...] then relax - it will work!” – Brooklyn Bambini Advice Here is a bit of advice apparel entrepreneurs shoes: 25 EAE Curriculum To read the rest of the advice from the previous page and more, visit these pages: - If you are thinking of having an alterations business, you must read “30 Top Sewing Secrets by Mary Roehr”. This article includes useful advice on fitting, alterations, tailoring, pressing, and pricing for alterations and repairs: www.maryroehr.com/30-top-sewing-secrets.html - “20 Tips for Running a Successful Clothing Line”: www.mytopbusinessideas.com/running-successful-clothing-line/ - “Five Business Tips From an Eco Fashion Designer”: www.flipsnack.com/gdancause747/aboriginal-womens-economic-quarterlyspring-2015.html - “We Asked 40 Successful Business Owners for Their Best Piece of Advice”: www.shopify.com/blog/51413445-we-asked-40-successful-businessowners-for-their-best-piece-ofadvice?utm_source=exacttarget&utm_medium=email&utm_campaign=digest &email-link=1 - “10 Characteristics of Successful Clothing Line Brands”: www.mytopbusinessideas.com/characteristics-successful-clothing-lines/ - “How to Start a Clothing Store”: www.entrepreneur.com/article/37944 If you are doing alterations, “Branding – the basics: Managing you brand”: charge appropriately and www.infoentrepreneurs.org/en/guides/branding----thehave a price list written down. basics/#3 “Do everything you can to If you find yourself too busy promote yourself - cards, with your orders, it may mean stickers, social networking.” that your prices are too low. – Jackalope Trading – Mary Roehr - 26 EAE Curriculum Grow as an apparel entrepreneur There are a lot off resources available for you as an apparel entrepreneur. Make the most of the organizations, events, and fashions shows listed here to get help and meet other entrepreneurs as well as potential customers. Support for small businesses Canada Business Network The Canada Business Network can help you find government grants, loans and financing as well as permits and licenses. They also have useful business articles on their website. You can: - Visit them at their website www.canadabusiness.ca/eng/ - Call them toll free at 1-888-576-4444. - Send them an e-mail message here: www.canadabusiness.ca/eng/page/contact/sgc35/ City of Ottawa The City of Ottawa’s website provides resources to start, run and expand your business. Learn how to do business with the city, permits and licence applications, and more here: www.ottawa.ca/en/business Futurpreneur Canada As mentioned in the “Manage your finances” chapter, Futurpreneur Canada offers start-up financing and mentoring, templates and examples to start and run your business, as well as a network of other business entrepreneurs. To learn more about their programs and apply, visit this page: www.futurpreneur.ca/en/get-started/ 27 EAE Curriculum Government of Ontario’s ONe-Source for Business ONe-Source provides the information, forms and services offered by the government to help you start your business. The website has an easy tool to find permits and financing, start-up kits, and answers to questions you may have. To learn more and create an account, click on the following link: www.appmybizaccount.gov.on.ca/sodp/portal/osb. Invest Ottawa Invest Ottawa wants entrepreneurship to grow in the Capital city of Canada. This is why they offer seminars, workshops, resources for entrepreneurs starting their business, mentorship, business advice, market analysis, a start-up acceleration program, financing and funding guidance, as well as international business expertise. To contact Invest Ottawa: - Visit their website: www.investottawa.ca/ - Call them at 613-828-6274 - Visit them on 80 Aberdeen Street, Suite 100 - E-mail them at: worldclass@investottawa.ca Ottawa Public Library The Ottawa Public Library provides services, programs and resources to help local businesses and entrepreneurs of all kinds succeed. You can make a one-on-one appointment with a Business Librarian by calling Infoservice at 613-580-2940 or booking a consultation online here: www.biblioottawalibrary.ca/node/26086. Business consultations are only available at the following library branches: - Main/Centrale: 120 Metcalfe Street (Downtown Ottawa) - Greenboro: 363 Lorry Greenberg Drive (South of Ottawa) - Beaverbrook: 2500 Campeau Drive (West end of Ottawa) To see the Business Source Complete, business writing tips and the Canadian Business and Current Affairs database (CBCA), visit: www.biblioottawalibrary.ca/en/interest/business 28 EAE Curriculum Conferences and events Here is a list of websites you can visit to find out about entrepreneurship conferences, seminars, events and workshops going on in Ottawa: Immigrant Women’s Small Business Expo This expo happens every year around the month October. The goal is to inspire and educate immigrant women in Canada who want to build their own business. To learn when the next expo will happen, visit: www.immigrantsmallbizexpo.ca/ottawa/ Women’s Business Network List of events: www.womensbusinessnetwork.ca/events/ Professional Networking Meetings in Ottawa: www.professionalnetworking.meetup.com/cities/ca/on/ottawa/ Invest Ottawa Events calendar: www.investottawa.ca/events/ City of Ottawa Local business events: www.ottawa.ca/en/business/business-resources/localbusiness-events Eventbrite Ottawa Business Events: www.eventbrite.ca/d/canada--ottawa/business--events/ Ottawa Chamber of Commerce Upcoming events: www.ottawachamber.ca/pages/UpcomingBusinessEvents/ Trade shows in Ottawa: www.10times.com/ottawa-ca/tradeshows Ottawa Community Loan Fund Events: www.oclf.org/events/ Startup Ottawa Events Calendar: www.startupottawa.ca/events-calendar/ 29 EAE Curriculum Fashion shows in Ottawa Keep your eyes open for fashion events that will be added later in the year. Here are some of the ones that run annually: The National Women’s Show’s “Festival of Fashion” (Spring and Fall) The National Women’s Show is Canada’s largest consumer event that showcases products for women, from food to fashion and everything in between. The Festival of Fashion runway show lets shoppers view fashion collections on the Centre Stage. For more information on the National Women’s Show and how to become an exhibitor, visit www.nationalwomenshow.com/en/ottawa-spring/exhibitor/ (Spring) or www.nationalwomenshow.com/en/ottawa-fall/exhibitor/ (Fall). Runway for Hope Runway for Hope is a charity fashion show that promotes local fashion in Ottawa. All the money that is raised goes to the Children’s Hospital of Eastern Ontario (C.H.E.O.). For more info on when the next Runway for Hope will be held, visit: www.runwayforhope.ca/event/. Ottawa Velo Vogue Ottawa Velo Vogue combines bicycles and fashion to raise money for Right Bike, a social enterprise that provides jobs and training for people who have barriers to employment. To learn about the next Velo Vogue fashion show, click here: www.ottawavelovogue.com/velovoguefashionshow. Wedding Palace Bridal Show The Wedding Palace Bridal Show is an international award-winning bridal show that showcases wedding fashion during the months of January and September. For a schedule of the events, visit www.weddingpalace.ca/about-the-show.aspx. 30 EAE Curriculum Ottawa Vintage Show The Ottawa Vintage Show showcases unique, one-of-a-kind, rare fashion pieces from the past. This show happens every year around the month of November. To find out the exact date for the next show, go to www.ottawavintageclothingshow.ca/. Suhaag Show The Suhaag Show is North America’s largest selling Asian wedding fashion and jewellery show. For more information on the next show, visit www.suhaag.com/suhaagshow/ottawa/. Safara Fashion Show The Safara fashion show showcases African prints and designs. It is organized by Ottawa designer Gwen Madiba and is usually held in the month of October. For more information on this show, visit: www.facebook.com/Safara-Fashion-Show1426218824309790/events. Metamorphosis Eco-Fashion show Metamorphosis is a show by EcoEquitable that highlights local designers from Ottawa and clothing made with recycled materials. For more information, go to www.ecoequitable.ca/metamorphosis/. Ottawa Fashion events listing: - www.eventbrite.ca/d/canada--ottawa/fashion--events/ - www.shepherdsfashions.com/fashion-shows-seminars/ More resources Starting a Business Canada Business Ontario provides a useful guide on what needs to be done before starting a business, from planning and managing to regulations, hiring employees, and taxation. Read the guide here: www.cbo-eco.ca/en/index.cfm/starting/gettingstarted/starting-a-business/ Women entrepreneurs The Canada Business Network has resources for female business entrepreneurs, from financing to business planning. Consult these resources here: www.canadabusiness.ca/eng/page/5215/sgc-35/. 31 EAE Curriculum Starting a Clothing Line from Scratch – A Complete Guide Find out how you can start a clothing line successfully in this very detailed guide: www.profitableventure.com/starting-a-clothing-line/ On-line business planning resources The Women’s Enterprise Centre has online resources for business growth, business planning, buying or selling a business, getting financing for your business, market research, business operations, and more. This can be found here: www.womensenterprise.ca/resourcelibrary. **** This marks the end of the Enabling Apparel Entrepreneurship Curriculum. It is now time for you to apply what you’ve learned and get started! Written and compiled by Candide Uyanze All images courtesy of EcoEquitable’s Instagram page