Start A Handbag Business
You’ve designed a handbag collection … Now what?
Consumers are shaking off the recession as per capita disposable income grows, indulging in frivolous purchases again and traveling–with new bags and luggage to jetset in style. Great time to start a handbag company of your own.
This global exhaling brought the world market for handbags to $101 billion. Stateside, the U.S. market for handbags, luggage, and accessories climbed to $9.6 billion, up 3.3% annually from the five years to 2014.
The U.S. handbag market is expected to reach $11.8 billion by 2019, increasing 4.3% year-over-year. Strong growth is being seen in men’s bags. Male gender norms are softening, allowing American men to follow their European counterparts and carry bags without fear of being mocked. This sociological allowance has allowed the men’s bag market to explode, with male bag purchases increasing 26% in the last year.
Know what you’re up against.
Half of all new businesses survive five years or more and only one-third will survive over a decade. The odds, unfortunately, are not in your favor.
Starting a handbag business is more than just creating amazing and stylish bags. You’ll need to understand the operations of a dynamic fashion industry and how your new handbag brand will expand and thrive in the future.
You’ll need to understand your market size and appropriately communicate a plan to banks and lenders. That said, you’ll need to compose a business plan, organize cost sheets, develop order forms, and, finally, network with industry connections to help you accomplish your sales goals.
Start ups fail because management teams become overwhelmed with death-by-paper-cut administrative duties on top of creative direction. Along with growing debt and unforeseen business expenses, failing to keep a fickle buyer and conscious consumer interested in your product will sink even the most on-trend of fashion vessels.
But, if you’re one of the thousands of entrepreneurs launching a business this year, we’re on your side.
Did you know?
Most major designers started at the same place you are in right now? They had a great idea, acquired proper knowledge to execute their plan, built and managed their business, and finally, successfully sold product through the proper sales channels – deepening their brand.
To make things easy for you, we provide the answers to the test. We’ve gathered various business texts, market specific industry data, how-to guides, forms, and supply checklists to make sure you’re covered on fashion business basics.
Start an Handbags Business is built by industry experts who have been there, done that. This How-To PDF publication is designed to help you plan your company, produce your product, promote your brand, and sell to buyers.
Learn How To
- Write a Business Plan
- Merchandise Your Product
- Edit your line for Presentation
- Exhibit at Trade Shows
- Find a Sales Rep
- Ship and Distribute
- Fill out order forms and cost sheets
- Contact Buyers
- Write a Press Release
- Sell your Product Online - and much more…..
If you want to be taken seriously by finance and investment groups, you’ll need to know the industry inside and out. How do we know? Because we’ve done it ourselves – and believe us, you need all the help and information you can get.
If you have questions, email us.