Michelle Alleyne is anadjunct professor at LIM College who teaches sustainability classes. She is a fashion strategist. She uses her expert knowledge to help small businesses and entrepreneurs enter the fashion market. She has learned most of her knowledge through her own entrepreneurial endeavors. She currently has owned her own business called M Shop since 1998.
M Shop was originally a NYC boutique in downtown that supported emerging designers. In 2004 the boutique expanded into a Full-Service Fashion Firm. Now M Shop has a range of offerings which include workshops, consulting, and products. These are all designed to aid fashion entrepreneurs with the entire process of creating their own business. This includes working with them on their concept, product development, marketing, promotions, sourcing, manufacturing, and sales.
Her Fashion Insider Knowledge:
E-Commerce as a Business: How to design your fashion line and online boutique
1. Create a Business plan
Key partners- suppliers
Value Proposition is to offer something different
You must understand your customers
Do proper market research
Key resources - What are the important assets
List all the costs
2. Include Financial Statement
3. Determine Business Structure
Will you be a sole proprietor or LLC or another type of ownership?
4. Tips for Starting a Fashion Line
Perfect your samples first
Do not overproduce and only make what is needed.
Hire a model to wear it for shoots and sizing
Not sure how to size? Look at competitors' sizing
Erika Massey is a rising junior in the Visual Studies program at LIM College. She is a student mentor and works as a student ambassador for the admissions office.She also is one of the co-leaders of the philanthropy club, president of the resident’s hall council, and a member of the global students’ club.