This section of the forum is for discussing the business and finance issues of the t-shirt industry. Which business structure to use (sole proprietor, LLC, S Corp, etc), how to handle billing, where to register your business and get the proper licensing, etc.
I think the real deal is to work on your business plan... Yes !! plan everything !!
It might take you around a year to achieve this but it worth the hard work !!
If you are able to come with a strong business plan, I dont think it will be a real problem to get some investors...
In this business you have people, like many of us, that start with little knowledge, not much money and big dreams.... some think it will be easy to start a t-shirt line and give up very quickly when they found how hard it is.... but others like me dont give up and work as hard as they can to achieve there dreams...
Taking Affliction like an inspiration is good but you might be better to start by finding something that represent you... you will invest a lot of time, money, hard work and.... yes a lot more of your time in this so you're better to invest all that energy in something that represent you....
By the way, all I can say is dont bother about the money for now, work on your business plan and take all the time you'll need to make it right... planing everything is really important, dont skip this part!!
Dont forget to follow your dreams and more important beleive in you, everything is possible !!
I think the real deal is to work on your business plan... Yes !! plan everything !!
It might take you around a year to achieve this but it worth the hard work !!
Dont forget to follow your dreams and more important beleive in you, everything is possible !!
Very well put PG, yes you need to focus on that business plan. Especially if you want some kind of foundation for the business. If you're a small business however you dont need a long elaborate plan at first. But your first plan should cover all the basics, if you're writing it for investors then make sure you include important things like: budgets, financial flow, profit margins, financial planning, succession planning, etc. Everything else you can write for yourself, but when writing it think about your mission statement first and foremost. Don't just write something that sounds inspirational and pretty, but make sure it has substance and meaning, make sure your message is being presented and give your business something to stand firm on.
A business plan is a very useful tool, and it sounds scary but when writing it you'll better understand the pitfalls and areas you weren't thinking highly about prior, you'll catch things you would have overlooked, and you'll have a better handle on your business as a whole.
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Taking Affliction like an inspiration is good but you might be better to start by finding something that represent you... you will invest a lot of time, money, hard work and.... yes a lot more of your time in this so you're better to invest all that energy in something that represent you....
By the way, all I can say is dont bother about the money for now, work on your business plan and take all the time you'll need to make it right... planing everything is really important, dont skip this part!!
he's right, not everyone is going to make a million dollars off of skulls w/ wings (mainly because a bunch of people are already doing that). If your artistic passion lies in the same genre go for it. A chef i worked under once told me "if you're thinking about being completely original with food, don't bother. Everything that's been thought of has been thought of, it's about taking those things and presenting them in a way no one else has thought of" In essence it's the underlying idea... maybe you like affliction style designs, well how can you present them better than affliction? (and trust me it's not as easy as adding more sequence and glitter)
however you also have to consider if your stuff looks to similiar to other companies stuff what's the point of buying your stuff when they already relate to established apparel?
sit down and plan it out well, if you plan your business well you'll always have a mold and model to build upon. also if you take the time to do it (whether it's a week or a year) investors will see and recognize that. don't be afraid to present them with the pitfalls (they know there are risks in business, but they want to know if you realize that or not). there are literally thousands of businesses trying to spring up everyday, the ones who will find funding and make it are those that are built on a sturdy foundation. you can't expect to sprout up out of nowhere, it's a small chance, it could happen, but it's better to have solidity to stand upon and behind.
Try taping into the largest souce of financing in the world even 3 times bigger than banks. That would be trade credit. Contact your supplier and ask for some terms. Which means they give you the merchandise and you pay them over time. Ask for a quantity that is reasonable, that you can sell in less than 90 days for example. Its easier to get good terms, low interest if you have a track record or business credit report that they can pull from Dun and Bradstreet which shows you have a propensity for paying your business creditors on time. This also keeps business expenses off your personal credit as extentions of credit aren't personally guarentee by your ss# but your tax id #.
Last edited by Rodney; July 28th, 2008 at 07:36 AM.
Reason: removed self promotion as per forum rules
I was wondering how I could go about raising some money to start my clothing line that will be somewhat like Affliction.
I haven't read through the thread so apologies if this was mentioned but what you want to do is go out and get orders for the shirt first. Go out and sell 500, 1000, 5000, whatever shirts, get the order in writing. With an order you can get financed, someone will give you the money. You can probably get some or all the money upfront. Order the tees, deliver the tees, rinse, lather, repeat.
One of the more interesting books I read on starting a business the guy insisted that you should never buy something before you have sold it. Obviously you can't apply that universally but its worth considering.
Try taping into the largest souce of financing in the world even 3 times bigger than banks. That would be trade credit. Contact your supplier and ask for some terms. Which means they give you the merchandise and you pay them over time. Ask for a quantity that is reasonable, that you can sell in less than 90 days for example. Its easier to get good terms, low interest if you have a track record or business credit report that they can pull from Dun and Bradstreet which shows you have a propensity for paying your business creditors on time. This also keeps business expenses off your personal credit as extentions of credit aren't personally guarentee by your ss# but your tax id #.
Most companies want you to be in business for 2 years with audited financials to extend net 30 day terms. 90 days - no company gives that to a startup - heck, you'll be lucky enough to get 30 day terms but most likely not better than that.
Last edited by Rodney; July 28th, 2008 at 07:37 AM.
Re: How to Raise Money to start my biz 
Re: How to Raise Money to start my biz 
