Online Course Helps Build Up Sustainable Fashion Companies
As more innovations come to fruition, so do the opportunities. One industry that has a reputation of being near impossible to start up is the fashion industry. The average cost of a Do It Yourself clothing line ranges from $25,000 to $50,000. So to get in, you need to have connections and money.
The days when starting a fashion business was impossible may become a thing of the past, thanks to Factory45, an online accelerator program that takes sustainable apparel companies from idea to launch. Factory45 is made up of five online modules: sourcing, brand identity, pre-production, e-commerce marketing, and preparing for launch. The modules are released over four months and the program comes with six months of personal consulting with the founder Shannon Lohr.
Lohr successfully launched her own sustainable clothing company on Kickstarter. In 2010, she launched the highest funded fashion project in Kickstarter history.
With a goal of raising $20,000 the project raised $64,246.
Through her own experience of launching an ethical fashion business, she learned where to find fabric, how to talk to manufacturers, which manufacturers have ethical practices, and all the intricacies of marketing, branding, and launching a successful crowdfunded project.
Not only have thousands of people launched successful projects that have turned into businesses but the magic that crowdfunding gives entrepreneurs is twofold. A completely funded campaign means you’ve raise enough money to manufacture your products but it also shows that there is a market for your product.
Can you imagine spending $50,000 on a collection that no one would buy?
There is a low-cost, low-risk that comes with crowdfunding, but don’t be fooled. It takes a lot of effort to figure out everything. Finding the right product, concept, message, aesthetic, marketing, manufacturers, getting samples, models, finding photographers and videographer for photoshoots and videoshoots. Some members of Factory45 have successfully launched crowdfunding projects in as little as six months.
So far everyone that has launched a crowdfunding project with the help of Factory45 has been completely funded and most projects exceed funding goals.
Some companies that were created with the help of Factory45 is Vetta Capsule, Sotela, Fair Seas Supply Co., Two Fold Clothing and more.
“The entrepreneurs who join Factory45 are given the resources and connections to source fabric, find a manufacturer in the U.S. and raise money to fund production in six months,” says Factory45.co. These resources come at a total cost of $3,000. What may seem like a big expense is really a small investment especially when it comes to starting a successful new business.