5 Financial Mistakes For New Clothing Companies

We work with hundreds of different clothing companies every month.  Over the years we have seen lots of people with aspirations of starting their own clothing company have their dreams come crashing down around them, losing thousands of dollars along the way. There are many different reasons why this happens, but oftentimes, it’s a case of unrealistic financial expectations. Here are 5 mistakes I have seen time and time again.

Not Enough Money

So, you got a $300 tax refund? Why not start your own clothing line and  turn $300 into $100,000? While I won’t say it’s impossible, I will say it’s not likely. $300 will barely get you 50 printed t-shirts, which doesn’t leave enough money for a website, marketing, paying designers, etc. Plus, having a single t-shirt design doesn’t make you a clothing company. First, research how much it’s going to cost to launch your brand. How many designs you are going to start with? How many of each design will you print? What other expenses might you have along the way? If you don’t have enough money to do what you want right now, just wait and keep saving. This will give you more time for planning and research.
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