How To Start A Freelance Fashion Business
Are you ready to launch your freelance fashion business? If you’re ready to take your fashion expertise into a freelance role then you’re not alone.
Demand for freelancers has seen a significant rise since 2020, with the need for design-based freelancers like graphic designers increasing by almost 15%. This article is going to look at how you can make the most of the growing freelance sector and start your own freelance fashion business.
Decide Whether You’re A Sole Trader Or A Limited Business
When you decide to launch your own company, you need to decide on whether you’ll become a sole trader or a limited business. There are several benefits to a limited business, like reducing personal risk. As a limited company any financial losses through the business are the responsibility of the business, rather than the owners or shareholders. In the extreme case of your company being unable to pay its debts, your personal assets are protected and your repayments limited to the value of your shares and original investment in the company.
Consider A Company Formation Package To Save Time
There are many businesses that focus solely on assisting new limited businesses with their set-up and submission of their paperwork. Limited company formation with privacy, and the filing of the first confirmation statement is one of the most beneficial forms of company formation package available. This form of assistance means that the business providing the package will register you with a prestigious address in a good location – think of a virtual London office – which protects your home address and privacy. Then, that business will submit your documents to Companies House with your new prestigious office address. These company formation packages are a great way to make sure your business is set up correctly.
Identify Your Freelance Fashion Opportunities
You might start freelancing with a set business in mind, like fashion stylist, or designer. However, the more diverse your offering, the more protected your income will be. Are you also a good illustrator, student mentor or graphic designer? There are many fashion roles that can be performed as a freelancer. Have a realistic assessment of your skills to see if there are any other areas you can use to enhance the potential of your business. If you have some developing skills, consider investing in training to make them a viable part of your freelance services.
Market Your Business Online & Through Social Media
The increased demand for freelancers has made the online marketplace very saturated. Strengthen your social media marketing and visuals to make your business stand out. Create a website which itself is fashionable to make your new business seem credible. Make your branding consistent across your social media platforms, marketing materials and your website. Create value-added content that potential customers would benefit from reading, and share these fashion tips across your social media channels.
Find A Good Way To Grow Your Client Base
Even if you already have a good network within the fashion industry, new clients are the lifeblood of any fledgling business. Create a digital portfolio of your work and have this ready to share with potential new leads. Leverage your social media analytics like Twitter and Facebook, to better identify who is interacting with your site, and follow up with leads that may convert into sales. Look at freelance platforms that match your offering to bid for work, and review working with agencies if you’re looking to get those first clients through the door. Fiverr and Upwork are good examples of freelance sites to review and set up profiles for.
Be Realistic With Your Income & Skills
Having your own business is the ultimate freedom for some. But as with any new business, there are certain risks that come with these rewards. Can you afford to launch a business right now? Do you have the right skills? If your income can’t take the risk, consider dropping your current role to part time, or reviewing other part time roles to tide you over until the money comes in. The same applies to your skills. Are your skills ready to compete with other freelancers? There’s no shame in considering further courses and education to boost your skill set.
If you’re considering starting a freelance fashion business, it is important to know how to create high-quality clothes that will stand out in the market, and this blog post on Gelato provides valuable tips on how to start a clothing brand.
Conclusion
Freelancing is a great way to create more control over your income and time. However, there are ways to minimize risk when starting a business. Setting up a limited company can help protect your personal assets. Company formation and privacy packages are also a great way to gain an address in a prestigious location, while protecting your home address. Diversify your services as much as possible, and identify skills that might need polishing before you offer them to customers. Create good branding and social media marketing, and drill down on where your clients will come from. Finally, be realistic with your income source and go part time if you’re concerned about money.
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