Why the lean start-up method is essential for your new sportswear business
The lean startup method is one that's been proven to help brands go from concept to market and in this blog, we discuss it's effectiveness in building a clothing brand.
6 minute read
Naturally as a business owner, you'd only want to release what you are 100% satisfied with, and why not? At the end of the day, it's your brand and your reputation on the line. The lean startup ideology essentially says that a business should release a minimum viable product (MVP) and use analytics gained from bringing that product to market to either pivot (adjust the product/ service) or change the entire idea.
The fundamental issue with this approach is, without proper market and consumer research, you could be investing your time and money into a product or service the market just doesn't need.
“Without a steady cash flow, businesses are inevitably going to fail”
How to gain a steady cash flow
The truth is, money is the oxygen for a business and without a steady cash flow, businesses are inevitably going to fail. The common misconception therefore is to invest huge amounts of capital into an initial product offering, without proper research and therefore putting yourself at a disadvantage from the beginning.
A great example of a business that followed this approach and pretty much reinvented themselves was Amazon. In 1994, Amazon was an online bookstore, and just 5 years after that they decided to add more products to their site. And they're not doing too bad now, are they?
But the important question is, how do you apply this to a sportswear brand, where you need to invest into stock so that you can offer products to customers. The short answer is not to drop shipping (I'm sorry to break your heart). Drop shipping is great for some products, but when you're a business owner trying to cement your brand in the competitive sportswear industry, you're going to need more than a simple screen print logo on a Gildan style tee to stand out. What you need is to invest into high quality stock, that's aesthetic and going to last with the lowest MOQ's available, but how do you do that?
High quality, low MOQ’s
white2labelmanufacturing.com offers a comprehensive white label service that allows you to invest into high quality, aesthetic gym wear products with lower MOQ's than your generic manufacturer. Not only have they compiled a collection of blank sportswear garments that suit market trends, but these products are designed to perform; from construction, fabric and ultimately customisation options and attention to detail- these garments will definitely cement your business in an industry rivalled with pop-up brands left, right and centre.
In addition to the above, they have a 10 working day turnaround time, meaning that by investing into lower MOQ's (starting at 25 units per garment) you can reduce the risk of overstocking, use these to test what sells well (in terms of colours and styles) and then restock, knowing you'll receive the stock in 10 working days. Streamline production in place, lower MOQ's in place and the ability to jump into a bespoke (tailor-made) service ultimately means White2Label Manufacturing can help you grow from a start-up, to a market leader.
Using these methods from White2Label Manufacturing can help your sportswear brand soar. Learning how to utilise your cash and use it to give your brand a low MOQ, high quality starting point is extremely important.
If you want customers coming back time and time again you have to know what they want. With any product, what they want is to not spend a lot but still get great quality.
Email us at firstname.lastname@example.org to see how we can help grow your sportswear brand.