Will you be doing market research?

Many people contact me about producing in Vietnam. The more I get to know their story the more I realize that they don't have an audience to sell to. Does it make sense to start production in Vietnam if you don’t have customer validation? From my point of view in Vietnam it is easy to make things but it is very hard to sell them. If you have done your market research and have a captive audience ready to buy then it makes sense to start production Vietnam. I can help you get garments made in Vietnam but are you sure you can sell them? If not, I recommend doing market research. I recommend you do a SWOT analysis on your current business and survey your current (or target) customers as your first step to do market research.

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Launch with Made in Vietnam!

You can start your fashion brand from day 1 with manufacturing in Vietnam. My question is, have you done your consumer market research? I can help you produce in Vietnam but can you sell everything back home? Before I get you set up with factories in Vietnam I have some questions about market research. Let's talk about market research and then talk about how to start a clothing company with manufacturing in Vietnam?

Do you have a business plan?

Many people believe that it is not necessary to write a business plan and they are right. It is not necessary but if you do write a business plan then your chance of success increases. Is it helpful to write down business ideas and share them with your family and friends to get constructive feedback? If you show your business plan to an investor and the investor decides not to invest in you then what does that tell you? Will the investor give you quality feedback to revise your business plan? Writing your fashion start-up business plan includes doing market research - it's important. Not writing a business plan is like taking an exam without having done your homework.

For example, is it a good idea to project your sales revenue and expenses? Yes. I know it takes time and can be discouraging sometimes but I highly recommend you write out your business plan using an online software called Live Plan. The software makes it easy to enter your sales revenue and expenses so you can see your profit and loss projection. The business plan will help you get clarity and build confidence to convince the factory that you are serious.

If you are new to the game factories figure it out quickly. They tend to refuse newcomers because the production quantities are low and the chance of repeat orders is low. Take a copy of your business plan with you the first time you meet a factory. When the factory asks about your company history, then let them read your business plan. They probably won’t read all of it but they will take you more seriously than someone who doesn’t have a well thought out plan.

If you need to borrow money from bank having a written business plan will be necessary to get approval for the loan. I recommend you write a business plan for your fashion start up.

Does your brand solve a functional problem?

Do you believe in solving problems for people and getting paid for it? Is that what business is? In fashion are we really solving a problem? People just want to look good in their clothes right? True but there are some cases where the clothing has a functional purpose. At that point, the fashion gets technical and requires a different approach.

If you are solving a functional issue then it is important to research the market to see if anyone else offers a design that solves the same problem. If you have competitors with a technical patent then research them to make sure your idea doesn't infringe on theirs.

If your brand is about fashion (not function) then you are designing clothes they love to wear because they feel and look great in them. You still need to do market research to know what styles are trending and or what specific styling and colors your target customers want.

Do you market research, listen to your customers and validate your unique selling point.
Richard Branson Business Advice

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Garment Production Books Reviews

Aaron Weiss
Reviewed in the United States on October 23rd, 2018

Entrepreneurs: If you are considering garment production in Vietnam, this should be your first book and handy reference guide. Whether you have experience in the garment industry or just a dream of a fashion-line, this book explains the nuts and bolts of garment manufacture in Vietnam. The book is written in a manner that answers the questions Chris had when he came to Vietnam 10 years ago. He learned on the job the hard way and is passing on his extensive knowledge to the reader. Additionally, the book provides culture and business tips to travelers in Vietnam so they are able to put their best foot—or shirt-forward. Even if this book doesn't answer all of your questions, it gives you the questions YOU, the entrepreneur, should be asking.