Regardless of the state of the economy, necessities like clothing and footwear remain certain purchases. For those in the fashion and apparel industry, it’s important to stay focused on producing attractive, quality merchandise while keeping to the latest trends. Whether you’ve worked for decades designing and manufacturing clothes, or are just starting out, you need a business software solution that works for you.
What You Want in Business Management Solutions
The fashion business is unique from other industries in that designers and owners must pay constant attention to styles and changes in public tastes. Selecting a software bundle to handle your needs requires not only research of the program’s capabilities, but its adaptability to the changing environment.
A good business management software package should assist you with:
Managing the styles, colors, and sizes of specific clothing and shoe patterns, so you know how many items of a certain color are produced and/or sold. You should be able to keep up with the demand by a particular demographic.
Managing the warehousing of products and keeping track of stock and shortages, so you can plan ahead for sales and distribution.
Managing distribution to retailers and wholesalers, so you know exactly who buys what. You should also be able to plan for standing orders and special orders.
There are lots of reasons to have a company picnic this year. Perhaps the best reason is to provide a bonding experience throughout your company among your employees and bosses. The other major opportunity a company picnic is great is to bring in the employees families to meet and play with each other. Once you have run the 3 legged race with a co worker, you will definitely get to know them better! When you return to the workplace, you will remember your experiences, and build that experience into your everyday working respect for each other.
When planning a company picnic there are many questions to have answered. The first is – What kind of fun and games should you plan for your event? The list is long when considering all the fun items that are available. From simple fun concessions featuring sno-cones to dunking booth games and balloon tosses, the whole company will enjoy themselves. I always try to have something for everyone at any event that will have a large range of people from all ages. I enjoy watching kids do face painting, teenagers do skill games like shooting baskets side by side in a pop-a-shot competition and older adults like magician acts and karaoke. Many of the older people in attendance will enjoy just sitting under an old fashioned tent and people watching while the younger set runs around and has a great time.
Perhaps my favorites are the games where I see people playing children’s field games, running around in a field race or trying to get someone else soaked with a water balloon. When I see that type of enthusiasm I know the party is being done well and the client will have a happy experience.
Most corporate event and company picnic planning companies take a lot of pride in all the services they offer. Some specialize in making a customized package of delicious food, and fun entertainment to make your event the best it can be. They will bring all personnel and equipment and set everything up at your location, either a park, picnic site, or your own place of business. You can have all the fun and receive all the praise for a great event.
A great benefit of this type of corporate outing is that you do not have to spend lots of money to have a great time. Companies try to keep costs low by providing you only things that you will use and have fun with. Most have tried to eliminate some of the more expensive items that can be used at a picnic. While those items are available if you have a larger budget, most companies are turning towards an old fashioned family style picnic as opposed to a trip to an amusement park. Most of the time, with proper advanced notice, the management of these event companies will be on site well before and long after your guests leave with smiles on their faces and a tummy full of wonderful fresh food and concessions.
You’re a new fashion company that just launched but find yourself lost in the middle of the massive sea of competition. What’s your strategy for a successful launch? How do you intend on making your clothing line successful? Do you even have a viable fashion marketing plan that will serve as your blueprint, and not just a fashion marketing plan but one comprehensive enough to include a viable distribution and sales strategy? Even if you’ve developed a viable fashion marketing plan, what’s your action plan for sustainability and ensure that your brand remains relevant in the fashion world and continues to grow and deepen its brand influence? The fashion industry is one of many complexities and without a thorough understanding of it, it’s easy to get lost in the middle of that massive sea.
This case study below highlights a typical marketing strategy for introducing a new fashion brand with the objectives of increasing exposure, distribution, and demand.
Launching a startup fashion brand in an already cluttered fashion industry
To successfully launch and uniquely position the new clothing line, create a distinct value proposition that drives sales, and deepen the distribution channels.
Develop a comprehensive marketing plan to strategize the national launch.
Develop a tradeshow marketing plan as part of the sales & retail placement strategy.
Secure product placement, celebrity endorsements, and media placement. Media is the driving force for increasing exposure for your fashion brand
Coordinate a series of high profile events & fashion shows as part of the branding outreach strategy.
Form strategic partnerships with retailers for placement.
And you thought the decision to open a business was difficult?
While many believe that selling a company is an even more difficult decision, it doesn’t have to be. In fact, it can be a very rewarding one that creates great value or opportunity for a fashion business owner.
1. START PLANNING BEFORE YOU OPEN FOR BUSINESS
Know this: the fashion M&A industry is very robust one today. Apparel and accessory companies of all shapes and sizes, and all across the globe are looking to buy, sell, or merge with other fashion or related businesses.
For this reason, a smart business owner should enter into its market prepared for the possibility of acquiring another company or building a brand that can then be sold.
Failing to plan an exit strategy is a common one. After all, how many people go into business planning to get out of one? (In truth, there are people who build businesses with that exact plan in mind — create value and sell at a large profit).
Similar to buying a stock, it pays to have an idea as to when you will sell, or how you move towards building a brand that is at least “sale-able” so that you have options available to you as you build your business.
2. CONSULT AN EXPERT …IN YOUR NICHE!
Selling a restaurant is a different animal than selling a fashion company. As you research options for selling or merging your company, look for experts who have experience in your particular field.
Their understanding of the current industry outlook and how to facilitate valuing your business (and building value) can have a substantial effect on the final deal value. Moreover, a fashion M&A advisor’s contact base with fashion companies, bankers and investors interested in the fashion and accessory niche, and other industry professionals can be a great asset that non-specialized M&A companies cannot offer.
“This is a highly active period for fashion M&A, with many businesses looking for strategic partners and others seeking acquisitions at rational prices,” notes Jack Hendler, President of Net Worth Solutions, Inc, a New York-based M&A advisory services firm. “There is a great deal of potential in the current market, but companies need all the information they can gather to make insightful decisions that will enhance their long-term profitability.”
3. TIMING IS EVERYTHING, SO BE PREPARED
An ancient proverb says, “All roads lead to Rome,” meaning all paths or activities lead to the center of things. If you plan ahead from the start, the decision to sell your company will be easier because the process will not be foreign to you. This hold especially true if you are entering into a business with partners, an even more when those partners are close friends or family.
While it’s impossible to define a perfect time to sell your fashion business — since it does depend on economic and personal factor — knowing your options and having an understanding of what drives the fashion M&A market, will reduce surprises, simplify the process of finding a target, and creating overall great value.