How to Start a Fashion Accessories Brand

Are you a fashionista?

Do you love tracking the latest trends? Have you decided to make a living out of something you love? Statista estimates that the apparel and accessories online retail sector will generate over $153 billion in revenue by 2024. The tools to create a successful fashion accessories brand are at your fingertips. Now that you’ve decided to become a fashion entrepreneur, there are a few key steps that you need to follow to start your brand.

Write a business plan

Develop a proper business plan to set goals and to become aware of any potential problems before they occur. You will need to outline your product, the market, and growth opportunities. Detail the structure and financial analysis of your company.  Include all expenses, operating budgets, and projections for the future. It will be helpful to secure financial resources if needed. 

Investment

For any beginning business, you will need to make certain investments. Some entrepreneurs are able to self-finance, others need to secure funding. If you need to apply for loans do it accordingly.

Pick a name for your brand

This is the fun part!  Find a catchy name. Something that is meaningful to you and your brand.

Here are some general tips to consider when naming your fashion accessories brand:

Avoid hard to spell names
Stay away from names that are copyrighted
Try not to pick a name that limits growth opportunities
As soon as you have an idea or ideas of a few names that you love, register the domain name as soon as possible

Create a slogan

Often, your slogan can even be more important than the name of your brand. Your slogan will help customers understand the benefits and styles of your products. Your brand name and slogan will help to create your business identity.

Legal aspect

You need to obtain a business license and take care of legal issues. This includes the incorporation and setting up of your sales tax account. Depending on where you’re conducting business, you will also want to consider securing the proper permits and liability insurance.

Purchase inventory

When you first start out, it’s important to start small to gauge what your consumers want. Buying the right inventory takes research and planning. Make sure you identify your target market and their age, gender, and annual income. Don’t buy based on your own personal preference. Make decisions based on current trends and consumer behavior.

E-commerce platform

Now that you’ve got product to sell, it’s time to build your store. There are several different ecommerce platforms with various plans depending on what features you need for your business. Make sure to pick a platform that is customizable. It should also be mobile friendly. Consumer sales via mobile devices are on the rise. Choose a web hosting plan and pick a domain name. Make sure you choose a domain name that is original and that you can tie back to your brand name. Your domain should be memorable. Once you decide on a domain name, make sure it’s available. Check for trademarks and social media handles so you can proceed with your name.

Web Design

Now it’s time to actually create your website. Make sure you have a theme, logo, brand colors and pictures of your products. This will make building your website much easier. Remember this is the first impression your customers will have of your brand. Let your personality and the meaning behind your business shine. You need to attract the attention of consumers and at the same time, create a connection which will lead them to buy. Do a keyword search to use for your product descriptions and product blogs to give your SEO a boost. Every product should have a proper description to create an allure and provide the consumer with the item sizes and specifications.

Store Policy

Generate your store policy and rules for your brand. This should include policies for returns, shipping, promotions, and checkout procedures.

Payment Provider

Find a reputable payment provider that has secure credit card processing. Look into accepting various payment methods. Several consumers not only use credit cards, but an online wallet like PayPal or Apple Pay. You will need the right provider to keep transactions secure and improve the checkout experience.

Shipping

It is essential to partner with delivery logistics that are reputable and reliable. Some ecommerce platforms allow you to collaborate with their shipping partners, which can make shipping simple.  Logistics is one of the most important parts of your ecommerce business. Research costs and transit times to determine which carrier is best suited for your business needs. Consumers that shop online expect free and fast shipping. Make sure to include detailed shipping rules in your store policy section.

Marketing

Create buzz in the market about your brand. Use social media and social commerce as a way to reach consumers. Marketing should be done in such a way that it helps in grabbing the attention of your target market. Look into collaborating with fashion influencers and creating a press release. It is important to work with social media profiles like Facebook, Twitter, and Instagram. You need to create a good communication channel with your clients. You want to increase traffic to your website. 

Launch

Now that you have built the website, stocked your product, and established a social media presence - it’s time to launch!  Make sure you have transaction email templates in place. You will need to notify shoppers of purchase receipts and tracking information. Run various tests. Test all aspects of your website. Test browsing, images, order placement, checkout, etc. Make sure the site runs on both desktop and mobile devices. Then hit that launch button and go live!

Revise and Diversify

Once you’re up and running, continue to research and improve your fashion accessories site and product availability. Make changes and  improvements when you know what works and what doesn’t. Track sales so that you can better appeal to the market and to gain a better understanding of your customer’s specific needs and wants. The fashion market is always evolving. You need to evolve as well. Make sure to update products for each season and holiday .

There’s never been a better time to start a fashion accessories brand. Online retail sales are on the rise and show no signs of slowing down.  Starting an online boutique can be a profitable business venture for entrepreneurs. In time, you will establish your place in the fashion accessory market and learn who your best customers are. Start your brand today and make your online fashion accessory store a reality.