New competition for Start Up Loan recipients to win £5000

An exciting competition has been launched by our partners The Start Up Loans Company, to find Start Up Loans recipients with amazing and inspiring stories. 

One lucky winner will be awarded £5,000 as well other fantastic prizes and invited to an exclusive awards ceremony at the  Lord Mayor’s office in London.  

If you've received a Start Up Loan through us, all you need to do to enter is answer some questions about your business. It’s a national competition that will identify winners and semi-finalists in every region.  

We're the only deliver partner that specialises in supporting fashion fashion businesses and we know some of you are doing really well, so  we're really hoping lots of our  beneficiaries will apply

One of the regional winners will then be awarded Start Up of the Year (based on their application form and the video pitch submitted).  

Submit your story,  for a chance to be crowned Start Up of the Year 2014! 

Competition closes on 1^st September at 12pm

APPLY HERE

If you haven't applied for  a Start Up Loan yet, but need funding for your business and would like some FREE mentoring too,  go to our Fashion Angel Start Up Loan page for more details on how to apply

A Start Up Loan helps Swimwear Designer Sarah Reader Swim to Success

Designer Sarah Reader applied for a Start Up Loan to help her set up her new swimwear label Project 104. Sarah had become frustrated that she couldn't find  any swimwear she liked in the marketplace, at an affordable price.

A graduate in fashion design at Ravensbourne, she decided to combine her design skills with her professional swimming background, and fill this gap in the market .

She decided to design a swimwear collection that was an affordable alternative to the mass produced offer on the high street. The Project 104 ‘s USP is that it offers the first limited edition, individually numbered fashion swimwear made entirely in the UK. She is passionate about ethical sourcing and supporting UK manufacturing, so keep production in the UK was a key element of her business proposition.

She heard about the Start Up Loan scheme via delivery partner Fashion Angel who is the only partner specialising in supporting fashion industry entrepreneurs. Sarah says ” The pre-loan support I received was highly beneficial in assisting me to think through and gain a better understanding of my business direction and goals.”
The process helped her identify the brand's target customer as 18-35 fashion conscious women who want a unique quality product that they won't find others wearing.

The Start Up Loan was used to finance the development of the first collection named   “My Body, My Shrine”, make up some stock to sell, and to set up the Project 104 e commerce site, which was launched in May 2013.

Project 104 S/S 13 Collection

Project 104 S/S Collection

Sarah’s advice to other aspiring entrepreneurs ” Plan, plan, plan! If you don't spend enough time planning and researching you’re constantly chasing your tail and achieving nothing”. Having a clear idea of what you’re going to do with key milestones, helps you achieve your goals step by step. Keeping track of your finances is also essential.  Designing is only part of the business, if you don’t understand and control the money going in and have a clear handle on your costs and profit margins, then your creativity doesn't have a chance of being a viable business.”

She goes on to say “Thanks to Fashion Angel I have channelled my creative ambitions into what I believe to be my business future. The initial Start Up Loan funding has enabled me to invest in creating a supply chain for my products that would be impossible to do otherwise as banks aren't interested in helping a start up business without security.”

Her plans are for the brand to supply international stockists as well as selling direct to the consumer via the Project 104 website. Since the launch they have secured both national and international stockists, so she is well on her way to making her dream a reality…..

project-104.com/

See how a Start Up Loan and FREE mentoring from Fashion Angel can help make your business dream happen.

Samantha McEwan from Isolated Heroes announced as winner of business mentoring competition, sponsored by ASOS Marketplace

Isolated Heroes

We are delighted to announce that the winner of our second business mentoring competition, sponsored by ASOS Marketplace, is women’s wear brand ISOLATED HEROES founded by designer Samantha McEwan.

Samantha has won a place on the Fashion Angel business start up mentoring programme. During the six months programme the Fashion Angel team will work with her to develop the strategic and operational direction of the business to secure its growth and sustainability.

The competition was open to ASOS Marketplace sellers and continues our  commitment to nurturing and developing young creative talent to turn them into successful businesses.

The entries were judged by Fashion Angel Director, Alison Lewy and Rachel Humphreys, ASOS’s Senior Marketplace Manager.

Isolated Heroes

Alison Lewy, Fashion Angel’s Director welcomes this opportunity to support an aspiring design business in this way: “We were overwhelmed with applications which show the high demand for industry led mentoring support to assist fashion enterprises. It was a difficult task to choose a winner with so many strong entries. We selected Samantha as we loved the brand aesthetic and felt with the right support the business had potential for growth. Samantha will now have the opportunity to work with a team of high-level, industry professionals from Fashion Angel to ensure the on-going development and success of her business, as well as exposure for the Isolated Heroes brand.”

James Hart, E Commerce Director of ASOS, said: “We are excited to announce Isolated Heroes as the winning recipient of the mentoring programme with Fashion Angel.  Their entry stood out because of both their eagerness to learn, but also their clear ideas as to the way they wanted to develop their business and expand their label.  Samantha’s commitment to her collection on ASOS Marketplace has given her  the strong foundations on which the Fashion Angel mentoring program can build. We can’t wait to see her business grow.”

Isolated Heroes 

Samantha McEwan, Isolated Heroes Founder and Creative Director, said: “I am so excited to have won this competition and grateful to ASOS Marketplace for giving me the opportunity to be mentored by the Fashion Angel team and benefit from their industry expertise. I am looking forward to developing my business strategy and with their assistance, taking my business to the next level”

We can't wait to chart Samantha's progress over the coming months. For more information about our mentoring programme and how we can help your fashion business thrive go to the Fashion Angel Mentoring page.

Fashion Angel launches business mentoring competition sponsored by ASOS Marketplace

We are delighted to announce the launch of our latest competition, sponsored by ASOS Marketplace.

One lucky ASOS Marketplace seller has the chance to win six months of Fashion Angel business mentoring.

James Hart, E-commerce Director at ASOS, said: “We are very excited to be working with Fashion Angel again to provide another amazing mentoring opportunity for one deserving ASOS Marketplace seller. We are looking forward to seeing the results of their business development on the site over the next 6 months”

The competition is open to fashion and accessory designers and vintage collectors that currently sell their products on ASOS Marketplace.

Alison Lewy said " the overwhelming response to last year's competition shows there is huge demand for specialist fashion industry business support. We enjoyed working with the 2012 winner, Fazane Malik, who as a result has taken her business in a new direction "

The winner will be announced on Wednesday April 3rd 2013.

The Prize
Six months Fashion Angel business mentoring package.

The winner will win a place on the Fashion Angel six month business start up mentoring programme.It’s a fantastic opportunity for fashion industry entrepreneurs to access six months of one to one mentoring from industry professionals.

By the end of the programme the winner will have an infrastructure in place and have the confidence to build a successful and sustainable business. They will also benefit from the exposure their brand will be receiving as a result of winning the competition. Click here for more information on the Fashion Angel mentoring programme.

Deadline for Entries: Wednesday  17th March 2013
Finalist Notified: Wednesday 3rd April 2013

Entrance Criteria
Open to ASOS Marketplace sellers who are based in the UK.

APPLY NOW

To enter the award, entrants must complete the online application form, or request one from info@fashion-angel.co.uk and submit 3 product images.

Full terms and conditions can be found
on the application form.

Follow @FashionAngel1

Fashion Angel helps young fashion entrepreneurs fly!

We are thrilled to announce that we are partnering with the government backed Start-Up Loans Company, to offer easy to access loans and business support to aspiring fashion industry entrepreneurs.

With London Fashion Week starting soon, highlighting the wealth of design talent and increasing number of fashion brands starting up new enterprises, we are delighted our popular mentoring and business support will now be available to new fashion businesses on the scheme, at the start of their business journey.

Involvement in this initiative continues our commitment to giving fashion brands the guidance and entrepreneurial skills they need to be successful.

Alison Lewy, Fashion Angel’s founder  welcomes this opportunity to support start up fashion businesses in this way

“We are so pleased that we can help fashion start-ups get funding and business mentoring to help make their dream business a reality. Traditional lenders are often unsympathetic to lending to creative businesses, so it’s exciting to be able to offer an alternative funding route. As the only delivery partners specialising in this area, we are looking forward to playing an integral part to the success of these young entrepreneurs.”

We have already started approving loans and have now developed a very
simple on-line application process . We're on hand to support applicants both during the application process and while they get their business off the ground.

Start-Up Loans Company chairman, James Caan says”

 “Having started my first business in the fashion industry, I’m delighted to see a fashion-specific Partner on board to help support creative entrepreneurs turn their passion into a business. I believe this surge we are seeing from young people starting their own businesses is simply the beginning of an emerging and lasting trend in entrepreneurship in Britain”
 “Start-Up Loans are unsecured which is exactly what young people with no track-record of business or collateral need to get their idea off the ground. “

Come and find out if a Start Up Loan is right for you at our FREE talk and networking event, Finance for Fashion Start Ups in London on 27th March 2013, where successful Start Up Loan Ambassadors and loan recipients  will be on hand to share their experiences. Places are strictly limited and you can book your place on-line on the Fashion Angel events page

To start your application or to find out more go to  Fashion Angel Start Up Loans 

Getting it Made - Part 2. Deciding whether to use UK or Overseas production.

In my last post I already talked about how you go about selecting the right manufacturer for your fashion business. But should you use a UK supplier or one based overseas?

It is usually practical and cost-effective to produce goods overseas if you are ordering large quantities. If you are manufacturing offshore, it is helpful if you can produce your first samples in the UK to ensure you get the pattern and the fit right; this will minimise the chances of mistakes when the full run is then made offshore. Consider getting manufacturing quotes for both UK and overseas production so that you can offer competitive prices to a buyer wanting to place a large order.

The benefits of producing overseas

1. Costs: offshore production is generally more cost-effective, especially when producing large volumes. Production costs will vary from country to country.

2. Machinery and technology: unfortunately there has been a lack of investment in manufacturing for many years in the UK, and offshore factories are more likely to have the most up-to-date machinery and CAD/CAM systems. This is particularly applicable to accessory and shoe production.

3. Large pool of skilled labour: some countries still have a pool of skilled labour of specialists workers, particularly in craft areas and embellishment. If the process is time-consuming, with cheaper labour you are able to be far more adventurous.

The disadvantages of producing overseas

1. Costs: economies of scale dictate that small volumes would not achieve favourable costs, and some factories have high production minimums. This is changing, however, and more and more overseas units are gearing up for smaller volumes. Also, you will most likely be subject to currency fluctuations which can affect your profit margin.

2. Quality control: it will be harder for you to control your production. You will have to factor into the production cost your travel expenses to visit the factory. You can sometimes work through an agent; however, they will charge you a fee and it is not always easy to find an agent you can trust to adhere to your high standards.

3. Communication: does your factory have English-speaking staff, or can you speak the local language? How easy will it to communicate what you want? You also have to take into account the time differences and whether they have good broadband connections.

4. Logistics: if you are having samples made overseas you will have to allow for the courier costs of sending raw materials/toiles/samples back and forth. Some of this would be avoided if the factory are sourcing materials locally for you. When working out your production schedule you must allow shipping time (could be several weeks) and also be prepared for production getting delayed or goods stuck in customs. Transport, delivery and insurance costs will also need to be factored in.

5. Cash flow: until you build a relationship with a factory, they may well want 30 per cent payment upfront and the final payment when goods are collected.

The benefits of UK production

1. ‘Made in UK’ can add value to your brand.

2. Costs: your production costs may be higher, but you will have more control over them and they won’t fluctuate.

3. Smaller quantities: UK factories are more willing to produce small quantities.

4. Control: you will be on hand to check the quality and deal quickly with any problems that may arise.

5. Communication: you still have to be organised with your production processes, but communication will be much easier.

6. Scheduling: you will be able to produce orders more quickly as you won’t have to allow extra shipping time.

7. Delivery costs: these can be kept to a minimum and you don’t have to worry that your goods will get stuck in Customs.

Disadvantages of UK production

1. Cost: labour costs are far more expensive in the UK, and therefore the price of production will be higher.

2. Skilled labour: the situation is improving, but manufacturing has been in decline and therefore it can be hard to find good sample and production machinists and cutters. Craft workers for processes such as embroidery, appliqué, etc, are also in short supply so costs may be increased and turnaround times may be longer.

3. Machinery: there is a lack of machinery investment, so it may be hard to get your product made.

4. Digitisation: manufacturing processes have been vastly improved with CAD/CAM systems. However, the cost of these systems has been prohibitive for many UK factories.

Consider getting manufacturing quotes for both UK and overseas production so that you can offer competitive prices to a buyer wanting to place a large order.

Buy Design Create Sell for £12.99

Published in association with Country Living magazine, Design Create Sell offers an overview of the fashion industry and a comprehensive guide to setting up and running a small fashion business, including sections on branding, money management, customer research, the production process and finding routes to market. It’s available from the Fashion Angel Shop for £12.99.

FASHION ANGEL FOUNDER ALISON LEWY LAUNCHES NEW BOOK “DESIGN CREATE SELL”

FASHION ANGEL FOUNDER ALISON LEWY LAUNCHES NEW BOOK

“DESIGN CREATE SELL”

a guide to starting and running a successful fashion business

We are pleased to announce that Alison Lewy, experienced designer and founder of fashion business accelerator Fashion Angel, has released a brand new book  Design Create Sell, an essential guide to this fascinating industry which will give readers an overview of how it works and what makes it tick.

As demand for British fashion soars and the number of designers setting up fashion labels increases every year, Alison gives readers everything they need to start their own successful fashion business.

Produced by Brightword Publishing in partnership with Country Living Magazine, this book will guide readers through the issues they need to think about before they start and take them through the key steps involved in setting up a new business. Readers will learn how to conduct the research needed for their business plan and get practical guidance on building their brand, getting their product made, marketing & PR and how and where to sell products.

Alison welcomed the opportunity to write the book and support aspiring fashion businesses in this way:

“Setting up a new business is difficult and the fashion business model is unique and has its own challenges. I wanted to draw on my background of running a fashion brand, and experience of working with and mentoring designers , to produce a practical step by step guide to help fashion labels start, develop and grow their businesses.”

The book is being published as a celebration of the success of London Fashion Week  to support the designers that contribute to an  industry that contributes over £21 billion to the UK economy.*

With consumers in the UK spending over £30 billion each year on clothing, shoes and accessories, and with 33% of people saying they try to buy British when they can, now is the perfect time to turn that passion into a successful business!**

This comprehensive book will inspire designers to turn their dream into a reality!

*The Value of the UK Industry, The British Fashion Council / **Make It British

DESIGN CREATE SELL by Alison Lewy
Published 30th September 2012 by Brightword Publishing,

ISBN: 9781908003348, Paperback/eBook, RRP: £12.99/£5
Available from the Fashion Angel Shop and in all good bookshops

Project 104 - our second mentoring session

Project 104's designer Sarah Reader and I  had our second mentoring session on a lovely sunny  March day. I was so excited to find out what Sarah had been up to since our last session and was blown away by how much she had managed to achieve in the four weeks.

From not having any formal plan in place, using the Fashion Angel Business Plan Guide, she has now started to put together her  business plan and strategy for going forward with the business, and we have started to develop her USP and key messages that will be used to reflect her brand across all communications.

Project 104 jackets are now on sale on the Etsy.com website and she is investigating other online retail opportunities, as well as the development of her own website which is now underway.

An opportunity has risen for Sarah to participate in a pop up shop in May – this is a great way for her to promote her brand and generate income. Sarah attended our ‘Setting up an Accessory Business’ workshop and as we are moving into Spring/Summer season, has wisely decided to design a Project 104  limited edition accessory range.

It’s tight, but we worked out a manageable schedule so she can make up  enough stock to sell at the pop up shop and then online.

Accessories serve as a good way of allowing consumers to buy in to your brand at an entry price point level, even if they can’t afford to buy from a main collection.

It’s been a tiring month, juggling all the work entailed with starting a new brand, especially when you are also working part time and on a tight budget, but Sarah has done tremendously well and we are all very impressed with her progress so far.

As ever, we  finished the  session with some clear actions and target completion dates before our next session at the end of April.

Author Alison Lewy Follow @FashionAngel1

Project 104 - Business Mentoring Session

Today was  the first mentoring session with our mentoring competition winner Sarah Reader founder of Project 104,  which was sponsored by Etsy.

Sarah wear Project 104 jacket 

photo Jay Mclaughlin

We had a really productive session, first discussing the current status of her business and outlining what the goals Sarah wants to achieve over the six month programme.  We defined  the key areas that are a priority  to focus on in preparation for the brand’s launch to market.

There are always so many things that need attention when starting up a fashion business,  but it is important to be realistic with what can be achieved with limited time and resources. It is far better to take things slowly and make sure you have everything in place, rather than rushing, making costly mistakes and putting yourself under pressure.

As with many designer, Sarah has so many ideas and plans for the brand  but has yet to formalise her strategy into a business plan  Many people think you only need a business plan if you are trying to raise money, and whilst this is certainly true, your business  needs one anyway as it is becomes your roadmap and guide, allowing you to keep on track with your goals and objectives.

Sarah in Project 104 

photo Elliot Rose

I  have given Sarah our Fashion Angel guide to writing a business plan – writing a plan isn’t  as onerous as it sounds and can be broken down into small chunks. It’s not something you can put together quickly – it usually takes a few weeks while you refine your business model and conduct the necessary research.Working on the plan makes you think about the direction of the business and the many aspects to running a successful business.

The plan will evolve as new opportunities and challenges arise. Sarah is at the perfect stage of her business journey start working on her plan and working with the Fashion Angel team will give her the tools and confidence to do this.

Aside from this we discussed how important it is for a brand to have a clear USP which will be the cornerstone for all brand development activity and be reflected in all sales/press and marketing channels. Over the next few sessions we will be defining the USP, looking at  production options, costings and profit models and researching routes to market.

We rounded off today’s session with some clear actions and target completion dates and will review  progress at our next meeting at the end of March.

I am really looking forward to working with Sarah over the next few months and watching her label develop and launch to market!!

By Alison Lewy
Follow @FashionAngel1