By Josephine Firat
When I speak to fashion students and others who would like to enter the fashion industry with their own businesses, I first ask them why they want to be professionals in this industry. They typically respond with words such as, “glamorous,” “celebrities wearing their clothes,” “fashion shows,” “designing beautiful things,” and “trips to New York City.” Sometimes, professionals in other industries looking in on the fashion industry see the same aura. I guess we professionals, who are actually working in the industry, make it look easy; much easier than it actually is.
Here is the reality – there is an abundant fashion industry right here in Houston that is filled with long hours, dynamic gross margins, sweat equity, and hard-earned net income. I encourage anyone who is interested in starting a business in the fashion industry to do it and especially do it in Houston! But before they do, they must realize that it is not easy. It is very rarely glamorous; it is only glamorous on the outside but the background (the trenches) is where the hard work, the ‘not so glamorous’ side is. In addition, they have to do thorough research first, but where do you, a prospective fashion business owner, start?
You start with customers. Let’s say you have a beautiful product (or, so YOU think); a dress, jacket, t-shirt, handbag, or necklace. Fashion is so subjective that what YOU think about your product does not matter. What matters, then? What matters is whether your customers like it and they are willing to pay money for it. Is it saleable? The most successful people in the fashion industry are not necessarily the people who produce the most beautiful things with the most skilled craftsmanship. They are the people who know what the customers want and provide it to them. I understand that creative people have passion and love for what they do, but passion, love, and technical skills alone are not going to create a successful business. At the end of the day, people have to pay money for what you sell. So, at the end of the day, all that really matters are those people – your customers.
Houston is a great place to find customers because it is so diverse. Everywhere else “fashion” is usually found in the latest magazines or what the celebrities are wearing. In Houston, “fashion” is defined by the individual, not by popular culture. This allows for more creativity and opportunity in Houston. As long as you can find a growing group of people who will buy what you offer, you are ready to move forward with your business idea. One of the biggest downfalls of a startup is that the owner creates a product that he or she loves and then forces that product upon the market. Start with the customer first.
How do you do this? Define your prospective customer, find a group of them, and ask them. This may sound like a no-brainer but you would be surprised at how many businesses are started, money invested, and products produced without one single customer committing to a purchase. If you live in the Greater Houston Area with over six million people who wear clothes and you cannot find a single person or business that will commit to doing business with you after you start your company, then you need to find a new business idea.
Understanding the difference between an idea and an opportunity is crucial in the fashion industry or any industry for that matter. We all have ideas that we think are great. Ideas come to creative people in the fashion industry all the time. The very first thing that distinguishes an idea from an opportunity is that a real opportunity will have a defined market of customers. When you find those customers who are ready to pay you for what you do or want to do, you are ready to really get into the process of starting your own fashion business.
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Josephine Firat, Committee Member of Houston Designed, can be reached by email at [email protected] or by phone at 713-871-1048. Visit the Houston Designed website at www.houstondesigned.com
