When you invest in a franchise, you associate yourself with the brand. That can come with many inherent benefits because you are not building your brand from the ground up. However, there can also be limitations that can hinder you from making that investment.
The fashion industry is a haven for creativity and self-expression. That is until it becomes a business and profit margins become a priority. When you attempt to invest in fashion franchise opportunities, you will realize that it is a combination of expressing yourself and making money. Can you achieve the perfect balance? The experts give a clearer picture by debunking some myths that have proliferated about the fashion franchise industry.
Myth #1: You Have No Creative Control Over What You Sell
When you invest in a franchise, you have to conform to the vision of the brand. Thus, if it’s a fashion franchise, all you can do is sell the clothes of the fashion brand that you are carrying.
However, many of the prospective franchisees in the fashion field are confident women who pride themselves in their sense of style. Many of them want to maintain their sense of personal style, just not inclined to start with the logistics of starting a business from scratch. They worry that when you decide to be a part of a fashion franchise, you will lose any creative autonomy since the corporation will choose all the merchandise.
That is not necessarily universal among all fashion franchises. Some brands would allow the franchisees to select the styles that they would display on their racks. These brands would like to have a unique feel for each store and also acknowledge that the franchisees have more knowledge over their area and the prospective customers in their market.
These brands can also meet with the franchisees along with their designers and decision makers, and they can have collaborations for their stores. In that way, the franchisees can establish a connection and take pride with what they are selling.
Myth #2: Fashion Franchise Owners will Not Succeed without Previous Business Experience
So you are a smart and feisty, young and creative fashion enthusiast who is deeply passionate about clothes, but will that qualify you to manage your fashion franchise? Yes, why not.
Being trendy and knowledgeable is not a guarantee for success in the fashion industry in as much as having a good idea will automatically make you a good businessman. It still takes dedication, hard work, preparation and long hours.
However, dismissing the possibility of success for first-time entrepreneurs is simply baseless. In fact, franchising is a better business model for a newbie entrepreneur.
There are fashion brands which will provide extensive training to their franchisees, specifically on the aspects of business management basics and operations. They have resources and logistics to get you started and keep you on the right track. These brands acknowledge your passion for the product and their industry. They can share with you what they have learned from their years of experience.
The fundamentals of business management still apply to franchises, even fashion franchises for that matter. Your enthusiasm and passion for the industry is something they could not impart, though, and this will be the reason why they would want you as their partner.