What To Do If Your Clothing Line Fails And Five Ways To Prevent it!

The world of fashion has seen a significant amount of growth over the last few years. Per the US Bureau of Labor Statistics, there are currently 19,310 fashion designers employed in the United States alone, with a projected number of 2,500 openings becoming available each year. The fashion industry is continuously evolving, and you must be willing to evolve and adapt to these changes if you want to grow with it. Unfortunately, as the industry continues to change, there will be some designers that will find themselves out of fashion. So, what do you do if you are one of the unfortunate ones whose clothing line fails? Better yet, how can you prevent your clothing line from failing in the first place?

If your clothing line fails, there still several other careers that you can pursue if you have a fashion degree. Some of them include:

Celebrity Stylist

Fashion Journalist
Fashion Photography
Public Relations

Blogger

Table of Contents

As a fashion designer, you want your clothing line to be a successful brand. Here are five ways to ensure a successful clothing line:

• Make sure to budget your expenses, and stick to it.

• Remember that your brand will only be as strong as your supply chain.

• Never cut corners as it pertains to product development.

• Recycle fabrics across multiple styles.

• Focus ample time and resources on marketing and selling your line.

In this article, we will first examine five of the most common ways that clothing lines fail, and the precautions you can take to ensure that your clothing brand does not end up like these failed lines. We will also take a look at some of the most popular career paths you can take with a degree in fashion, should the inevitable happen. Finally, we will also take a closer look at the job forecast for clothing lines to better prepare you and your brand for the upcoming years. Let’s read along to see what you can do to make your clothing line the successful brand that you have dreamt it could be. You have worked hard to get this far, so let’s arm you with the knowledge you need for continued success, shall we?

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Why Do Clothing Lines Fail?

Let’s face it. Fashion is a perfect fit for you. Having a clothing line of your own and being a fashion designer is the career path that you have wanted to take for quite some time now. You have worked hard to earn your degree; design your first clothing line, and do all of the necessary footwork to break into the fashion industry. You have fought hard to realize your dream, and now you are living it. I would assume that you want to have a long and successful career doing what you have worked for so diligently to obtain. Unfortunately, every field you can imagine has business that does not succeed, and the fashion industry is no exception. In fact, according to Flash Innovation, only 47% of businesses in the retail industry still remain open after their first four years.

Now I know that there are probably two thoughts that are running through your mind. The first thought more than likely is something along the lines of, “Wow! That’s a really small success rate. “At the same time, you are also probably wondering, “Why do so many fashion-related businesses fail?” Luckily for you, I have the answer to that question. The main reasons why clothing lines and other fashion businesses fail include:

Cash flow problems.
Weak or slow supply chain.

Trying to handle everything yourself.
Inferior products.
Lack of marketing.

What Can You Do To Ensure That Your Clothing Line Succeeds?

Although the reasons why clothing related businesses fail may be fairly simple to avoid, you may be surprised how many designers make these mistakes. While starting a clothing line has a relatively low rate of success, there are five things that you can do to ensure that your clothing line is successful. The five tips you can put into practice if you want to avoid potential failure in the fashion industry include:

Planning an extensive budget and ensuring that you adhere to it.
Find good, reliable suppliers and communicate with them regularly.

Quality matters. Don’t cut corners with your clothing line.
Fabric is expensive. Recycle your fabrics across multiple styles.
Dedicate your time and resources to marketing and selling your line.

Because cash flow problems are the reason that 82% of all clothing lines end up failing, I thought that the best place to start ensuring that you are not one of these failed businesses is by knowing how to plan a realistic and effective budget. After all, knowing how to plan a good budget coupled with the discipline to stick to it, should alleviate most of your clothing line’s cash flow problems. According to Indie Source, here are five easy steps you can take to plan a budget for your own clothing line:

Know how much money you can spend.
Determine the amount you want to spend on product development.

Decide what price per unit you can pay for manufacturing.
Figure out what you can afford to spend on distribution.
Develop a marketing strategy and determine what you can spend on it.

What Are The Pros And Cons Of The Fashion Industry?

What Other Career Options Are Available With a Fashion Degree?

There is an old saying that says, “Hope for the best, but prepare for the worst.” I have applied these words of wisdom to many different aspects of my life, including my career. You have already been armed with the knowledge that less than half of all clothing-related and retail businesses fail within the first four years of operation. Why have I done this? If you plan to start a clothing line, or if you are already in the fashion industry, you need to have a fallback plan just in case your brand isn’t as successful as you hope it will be. While this may not be the most pleasant choice you have to face in fashion, you should be informed of as many options as possible if the worst-case scenario should happen. After all, I’m sure that you do not want all of the hard work you put into getting an education to go to waste.

Fortunately, being a fashion designer is not the only career option that the fashion industry can provide to those who have a degree in fashion and a willingness to work hard. If you are one of the individuals who have gone to school to get a degree, as well as having designed a fashion line, chances are that you have a degree in fashion. If so, I have some good news for you. There are several alternate career paths you can take if your clothing line does not succeed in the fashion industry. Five of the most popular alternative career choices for designers with fashion degrees include:

Celebrity Stylist
Fashion Journalist
Fashion Photography

Public Relations
Blogger

What Is the Economic Forecast For Fashion Design?

Of course, two of the primary factors that would have a profound effect on your career as the owner of a clothing line are the economy and the economic forecasts of the fashion industry. Over the last two years, the fashion industry has seen a significant decline in revenues. Per McKinsey, gross profit in the fashion industry have declined by 3.4%, with profits totaling 6.8% over the course of the last year. Now, you do not have to be a statistician or a finance major to see that things have been disastrous for the fashion industry recently. However, like most other industries, fashion depends heavily on the state of the economy. When the rest of the economy is doing well, sales and revenues in fashion will also begin on the rise because people will have disposable income for purchases like designer clothes, shoes, and accessories.

However, while the economic forecast doesn’t bode well short-term, many economists 6predicted that the economy will bounce back soon, and industries such as the fashion industry will reap the benefits. Fortunately, Statista has predicted that the United States economy will see a significant increase of 12.99% by the end of 2022, with the Revenue and Fashion segments expected to reach $205 billion by the end of the year. The fashion segment is also expected to grow to approximately 201.1 million users by 2025, which is an estimated 59.1% penetration of the market in the United States. The largest spike in sales is projected to be in apparel, followed by accessories and footwear respectively. Simply put, the future looks bright for the fashion industry, and those who work in it. That’s incredible news regarding the state of the fashion industry as well as prospective and current owners of clothing lines.

Conclusion

In conclusion, any industry is going to experience both good and bad periods. The same theory is applicable to the fashion industry, which will directly impact your clothing line. Even in a good economy, there are clothing lines that will not succeed. However, it never hurts to be armed with as much knowledge as possible to keep your clothing line from going under. Some of the factors that may cause your clothing line to fail include cash flow problems; a week supply chain; trying to handle everything yourself; having products made from inferior materials, and not knowing how to market or sell your clothing line. Luckily, you can combat these things by knowing how to plan your and stick with a budget; finding good and reliable supplier; not cutting corners with your merchandise; recycling fabrics across multiple styles, and investing your time and resources into marketing and selling your clothing line.

Unfortunately, no matter what you do to prepare yourself, some clothing lines will eventually have to end up closing their doors. If you happen to be one of the unfortunate fashion designers who have to go out of business, you still have plenty of options available to you as long as you have a degree in fashion. Five of the most popular options for fashion designers who want to stay in the fashion industry include being a celebrity Stylist, a fashion journalist, a fashion photographer, a public relations manager, or a micro-blogger. While these career choices may not necessarily be the dream job you once had, they do offer you the chance to stay in the fashion industry and stay close to what you love. If you are one of the few people who are fortunate enough to do this, count your blessings. There are some people who are no longer employed by the industry they love.

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