fashion kickstarter

4 Misconceptions About Launching a Fashion Kickstarter

Yesterday I spent 36 hours in New York City, talking to fashion startups about ways to finance their brands.

Needless to say, crowdfunding (specifically Kickstarter) has been on my mind.

If you’re one of those entrepreneurs currently weighing your options about how to launch your company or new collection, keep reading.

Today I want to go over four of the major misconceptions about launching a crowdfunding campaign.

MISCONCEPTION #1: Kickstarter = “donations.”

This might be my biggest pet peeve when I hear people talking about crowdfunding or Kickstarter. Do not, I repeat do not, refer to your campaign as a place to “donate” or “accept donations.”

Kickstarter is not charity. And it’s not even fundraising in a traditional sense.

When it comes to raising money for your fashion brand, Kickstarter is a platform for pre-selling your product before you go into production.

In other words, your customers are financing your first production run for you by pre-ordering what you’re selling. Instead of using your own savings, you’re receiving the money upfront to go into production and deliver your product to your Kickstarter backers.

I repeat, it’s not a donation.

MISCONCEPTION #2: If you build it, they will come.

I estimate that about 75 percent of the work that goes into launching a Kickstarter should be focused on building an audience before you launch.

When campaigns fail it’s usually because the project creator didn’t put enough work into building their email list and social media following.

Will random people discover your project because they are browsing Kickstarter for cool brands?

Probably, but you can’t count on it.

Make sure you have a dedicated following of potential customers before you click that launch button. If that means waiting a few more months to build up your list, then do it!

MISCONCEPTION #3: Most Kickstarter projects succeed.

The majority of Kickstarter campaigns fail.

(That’s part of the reason I’m so proud of the success rate coming out of Factory45 and The Crowdfunding Factory!)

Kickstarter’s Fashion category has one of the lowest success rates, coming in at 25.46%.

I don’t tell you this to discourage you. I still believe that crowdfunding is the absolute best way to launch a new fashion brand.

I tell you this to emphasize how much work and advanced planning needs to go into launching your campaign.

I estimate that you should spend 6-18 months preparing for your campaign and again, building your audience before you launch.

MISCONCEPTION #4: Crowdfunding is dead.

Is Kickstarter saturated? Is social media noisy? Are email lists hard to grow? Yes.

But what’s the alternative?

If you want to launch a successful fashion brand — without wasting your own money and without going into debt — then crowdfunding is still the most low-risk and efficient way to do that.

Why?

Because you’re able to test the market before you launch.

You’re able to ensure that you won’t have unsold inventory sitting in your basement for years.

And you’ll know that you have a product people actually want before you invest the time and money into production.

There is no venture capitalist, bank loan or angel investor who can tell you that.


The moral of the story? Building a business takes a lot of time, thought, patience, hard work, creativity and persistence.

There’s no getting around that.

There is, however, a way to market and test your brand with very little risk to you personally.

And that’s where Kickstarter comes in.

If you want to learn all the steps you need to take to create a fully-funded crowdfunding campaign enrollment to my course, The Crowdfunding Factory, is opening soon.

You can get more details about this self-study program by signing up to the waiting list here.

 

factory45 owner shannon

 


crowdfunding factory cat

what to expect

What to Expect from Factory45 in 2018

Every year, June feels like January. It’s the month that truly feels like the “new year” for me.

One of the best pieces of advice I got when I was first starting out was to create a schedule and plan for my business that I wanted to follow.

Schools start in September. Corporations end their fiscal year in December. Well, Factory45 starts in June.

Because, hey, I’m the boss and I get to decide.

(Also, good advice: You don’t have to follow other people’s rules.)

With that said, I’ve been looking towards the coming months and planning for the year with a refreshed spring in my step — it’s a wonder what warm weather will do…

So, here’s what’s going on and what you can expect:

FACTORY45

Last week I onboarded this year’s entrepreneurs for the 2018 program of Factory45! This is my fifth year and sixth cohort to come through the accelerator program and every year the caliber of applicants gets more and more impressive.

The majority of my time and focus for the remainder of 2018 will be focused on helping them build their businesses. And I’ll be sharing more about what they’re all working on in the coming months.

PHOTOGRAPHY PROJECT

For the next six months, I’m teaming up with Joyelle West, one of Boston’s most talented photographers for a project that I’ve been thinking about for over a year now. Through our collaboration, I’ll be sharing, promoting and showcasing Factory45 products, as well as other sustainable and ethical brands, on Instagram.

You’ll be able to follow along here.

THE MARKETPLACE

The photography project will lead up to the launch of the first-ever… drum roll… Factory45 Marketplace! (Name to be determined.) I am SO excited about this and it’s been long overdue to have an online store to sell some of the Factory45 brands that have launched through the program.

I’ll be sharing more about the process of creating the marketplace with my web designer, Emily Belyea Creative, and you can expect it to be live for holiday season 2018.

TEXWORLD

Thanks to my pal Nicole of StartUp Fashion, I was invited back to TexWorld USA this year to speak on a panel about funding your fashion startup.

I’ll be in New York City for the independent designer meetup, as well as the panel, on July 23-24.

Designers and startups can register to attend for FREE here.

THE CROWDFUNDING FACTORY

Speaking of funding your fashion startup, this topic is my bread and butter. I love teaching low-barrier-to-entry ways of raising money so that you don’t have to go into debt to start your own company.

Throughout the year, I’ll spontaneously open enrollment to my other course, The Crowdfunding Factory, that teaches you how to fund your fashion brand through pre-sales and crowdfunding sites like Kickstarter.

If you don’t have money in the bank to pay for your first production run, I created this course for you.

You can get on the waiting list and be notified when enrollment opens here.


Between all of that, I’ll be over here doing my mom thing! Baby Lohr turned five months this week, and I’m trying to soak in these early days (as sleep deprived as they may be!)

Wishing all of you a wonderful start to the summer (or winter, depending on which hemisphere you’re in!)

I’ll be back next week with more free startup advice, entrepreneurial musings and the like : )

 

factory45 owner shannon

 


the crowdfunding factory

Launch Your Sustainable Fashion Brand with Factory45

Enrollment is now open for the 2018 program of Factory45!

You can apply to join me here.

Over the past four years, Factory45 has helped entrepreneurs from all over the world launch clothing companies that are sustainably and ethically made.

You can get all of the details about the program here.

And yes, Factory45 is now open internationally!

Whether you still can’t find a fabric supplier whose minimums you can afford or the process of finding a manufacturer has been a giant headache, I know there is a way to launch your company with:

  • More confidence
  • Less frustration
  • And without wasting valuable time & money

In fact, the entrepreneurs who have graduated from Factory45 have proven it.

Applications are open for the next two weeks and in that time I’m going to share:

  • My own story of entrepreneurship
  • Introduce you to some of the alumni who have successfully launched their companies through Factory45
  • Answer all of your questions about what you can expect
  • And more…

If you’ve been waiting months for this day to come, then I invite you to fill out your application now. You can live anywhere in the world to apply.

Get inspired, get to know me and get ready.

If you’ve been dreaming of starting your own sustainable fashion brand but haven’t known where to start, Factory45 is what you’ve been looking for.

Apply to join me here.

 

factory45 owner shannon

 

P.S. If there’s someone in your life who’s been talking about starting a clothing or accessories company please share the Factory45 application with them.

Entrepreneurship was the best thing that ever happened to me, and I hope that everyone (who wants to) gets the chance to start their own business.

And if you’re not sure it’s right for you, at least come check out the new website…

Raising Money For Your Fashion Startup with Fashion Brain Academy

A few weeks ago I got an email from Jane Hamill of Fashion Brain Academy:

“I’m wondering if you’d like to be a guest on my podcast to discuss raising money for a product-based business.

Walk us through the way to do it RIGHT including what to do and what NOT to do.”

I could talk about raising money for your brand all day, so of course, I jumped at the chance to be on the podcast.

If you don’t know Jane, she’s a veteran of the fashion education world. She’s a former clothing designer, has had her work featured on CNN, WWD, Entrepreneur and InStyle, is a regular speaker at DG Expo and has 14+ years of running a successful boutique and wholesale business.

One thing she admittedly doesn’t know as much about is crowdfunding, which is why this interview was so fun to record. Jane was learning as we went and asked the questions that many of you are probably wondering, too.



Some of the topics we cover in the interview are:

>> What to do in the first 7 seconds of your crowdfunding video
>> How to tell your story to get people to back you
>> The 3V’s of a successful crowdfunding campaign
>> How to set your crowdfunding rewards for backers
>> Price points that work best for a fully-funded Kickstarter
>> How often to email people about your crowdfunding campaign
>> And much more.

You can watch the whole interview for free here or listen to it as a podcast.

Here’s some of the feedback we’ve been getting:

“Phenomenal information – so much to think about!”

“Really great! So much to think about, but this was so straight to the point!”

“All of this is so helpful.”

If you’re thinking about launching your brand or raising money for your brand through pre-sales, crowdfunding or Kickstarter, then this is a must-see… if I do say so myself ; )

Watch or listen here.

 

factory45 owner shannon

 


the crowdfunding factory

crowdfunding factory

Success Stories from The Crowdfunding Factory

If you know anything about me (and what I teach) it’s that I unapologetically love crowdfunding.

Kickstarter, Indiegogo, iFund Women, pre-sales on your own website, whatever the platform you use I truly believe that launching your brand through crowdfunding is the smartest and most efficient way to go to market.

Why?

Because you can test your product before you make it, you can find out if anyone is willing to buy what you’re selling, and you can get your customers to pay for your first production run.

This saves you immense amounts of time, money and energy compared to traditional methods of creating inventory first and then trying to sell it.

At the end of last year, I launched a course called The Crowdfunding Factory that specifically focuses on raising money through pre-sale sites like Kickstarter.

To date, this course has a 100% success rate of participants who joined and launched a crowdfunding campaign.

So today, I want to share some of those stories with you.


COTTON BUREAU

This Kickstarter campaign wrapped up last week, raising a whopping $94,628.

Founder Michelle Sharp and her team set out to create size-inclusive, made-in-the-USA, premium t-shirts for men and women with a goal of raising $48K in 30 days.

The idea for the campaign stemmed from their existing business, Cotton Bureau, and the need to improve the sizing options of their women’s tees. They wanted to create something ultra-soft that could hold up in the premium t-shirt market without expecting adult women to fit into Junior sizes.

This clearly struck a chord with people as they gained the attention and support of 1,527 Backers who purchased their tees.

cotton Bureau


DUDEROBE

“Bathrobes for men kind of suck” – that’s the tagline for DudeRobe, a Kickstarter campaign that raised over $67,000 this summer.

Founder Howie Busch joined The Crowdfunding Factory at the end of last year and launched his campaign in just six months (the minimum amount of time I recommend). His hard work paid off when he reached his goal of $25K in under two days.

DudeRobe has been featured on BroBible, iHeart Radio, Product Hunt and other notable press and gained the interest of Shark Tank producers.

When I tell entrepreneurs to find their unique niche and try to solve a problem for those people, this is what I’m talking about. DudeRobe appealed to a very specific type of customer and it paid off.

duderobe



SEASON

Founder Jessie Artigue was already a notable lifestyle blogger through her site Style & Pepper, as well as the co-host of The Marriage is Funny podcast, before setting out to create her own dress line for women.

With the help of a Kickstarter campaign, Jessie launched SEASON, ethically-made dresses that are the “super-hero cape for your everyday style.” The first collection offers one multi-functional and versatile dress in three different colorways and is cut and sewn in the USA.

The SEASON campaign raised over $20,000, earning 122 backers, and was featured on style sites like Verily Magazine, Clementine and more.

SEASON


LE REGARD

While this campaign didn’t raise multiple tens of thousands of dollars like the others, I wanted to highlight it for the same reason I mentioned DudeRobe.

Founder Ruth Yeboah launched Le Regard to solve a problem for a specific group of people — breastfeeding women.

Operating under the mantra that every woman deserves to breastfeed in style, Ruth set out to provide a solution to the question: “Could I nurse in this?”

Creating apparel for all seasons, that flatters postpartum bodies and provides convenience and ease of nursing, Ruth raised over $10,000 to bring her first collection to nursing mothers everywhere.

Le Regard


And the last thing I’ll tell you today is that Crowdfunding Factory alum Lady Farmer launched their Kickstarter campaign this morning!

The mother/daughter team has created a beautiful campaign and has invested *months* in pre-launch prep that never ceased to impress me. So, go check out their campaign and see if anything strikes your fancy >>

 

factory45 owner shannon

 


crowdfunding factory cat