Looking for investors for your fashion business
If you have decided that finding investors for your fashion business is the best option for you, here are some tips on how to prepare yourself to find the right one;
Finding an investor is not for everyone, but if you have the financial support you need, you will be free to work to promote your fashion business, design more products and sell, sell, sell.
You should have a plan
First things first: you need to make sure you have a business in place. One that is attractive and stable enough to allow someone to spend their money.
One of the main components of a good business plan is the research you have dedicated to us. You should be aware of your target audience, ie your “ideal customers”, your competition, the demand for your product and where you would sit in the market, hopefully hungry.
You have to make sure that your business is “sexy”, and indeed worthy of investment, apart from the beauty of your projects and ideas. After all, would you invest in a society that seems destined to fail? No, you wouldn’t, because you won’t want to lose any of your money. No one would do it, so remember that.
Having a business plan is also great for your mind because it allows you to think clearly about the trajectory of your business.
Start by looking for investors who have already invested in fashion-related start-ups. It might be useful to set up an AngelList profile to share your information with potential investors.
Investors need to understand your product and if they don’t already have companies like yours in their portfolio, there is a chance that they won’t understand you. And there is little chance that they will advise you further or provide you with the service you were hoping for. Therefore avoid investors with little experience in your sector.
Try to talk directly with partners and don’t say yes (or not) to the first investor you talk to. Treat your idea with pride and don’t settle for second place. Your business is a big problem, so treat it this way. Don’t be afraid to take time to think about your decision and to completely digest what every investor says and offers you.
Also, don’t just say yes to money. Think about the conditions that investors have for your business. Stay firm, prudent and keep simplicity by not “selling out” your idea.
Your pitch should be in the form of an electronic presentation and should include a minimum of 10 slides and a maximum of 15. Use this synthetic and clean method to also sell yourself and your business: be it through the use of figures, or detail your strengths as a professional and entrepreneur.