Are you a an entrepreneur and want to start a small business in fashion industry? If yes, then in this post you will discover 25+ fashion and lifestyle business ideas that you can start with very low investment. There are several highly profitable businesses in Fashion Industry that you will discover in this post.
The fashion and lifestyle industries are huge all the over the world especially apparels, accessories and lifestyle products. There are various designer labels, budget clothing brands, shoes designers’, accessories’ brands, including domestic and international brands in the US. Although, fashion industry is thriving but at the same time it is indeed a very competitive industry, every clothing line and shoe designers must ensure that they are always on their toe and in touch with the trend if indeed they want to continue to be in business.
Some interesting facts about the Apparel Market in the United States:
“According to Statista, The U.S. apparel market is the largest in the world. In 2016, store-based retailing was valued at approximately US $292 billion . The U.S. apparel market size is projected to reach US $390 billion.”
The fashion and lifestyle industries are a product of the modern age and fashion sense keeps evolving with time at a regular basis and in most cases people go back to the past to re – introduce old fashion.
The fashion industry keeps reinventing itself from time to time because of the ever evolving fashion trends. Being creative in the fashion and lifestyle industry can help you stay on top of game for decades. Successful, fashion and lifestyle brands understand the changing mood of their customers and produce clothes and accessories according to the taste of the customers.
Fashion industry has always been one of the largest employers of labor in the United States of America (both directly and indirectly) and in most countries around the world. Some of the leading fashion and lifestyle brands in the world are from the United States of America.
Countries like China, India and Vietnam produce garments for the world under the license from some of the largest brands in the world that are from United States and apparel manufacturing outsourcing remains a lucrative business.
With over 7 Billion people in the world the demand for fashion and lifestyle products is growing and therefore, it can be a thriving business for entrepreneurs.
List of 25 highly profitable Businesses in Fashion Industry in 2020
People are often mistaken by the fact that a fashion company is a business that only designs, market and sells apparel merchandise whether online or offline. But it is not true at all because there are several businesses in fashion segment that you can start. A fashion business includes apparel manufacturing, footwear manufacturing, wristwatch manufacturing, fashion accessories manufacturing and many more.
As far as the profit margins for businesses in fashion segment are generally within a range of 15 percent to 40 percent based on the type of business you are into. There are several costs that you need to take into consideration when it comes to the profits in fashion business. Your profits can be much higher depending from where you source raw material, products and if you are utilizing both digital and offline sales channels.
Sell Apparels online – a major fashion business idea
Selling apparels online is of course one of the leading businesses in fashion industry. Although, there’s huge competition in the apparel market but if you are a creative person, understand people’s needs and fashion trends then selling apparels online can turn into a huge business for you.
All you have to do is pick a particular niche in the fashion industry and the one that you feel passionate about. It could be children’s apparels, women’s clothing or men’s. Then decide whether you want to launch your own clothing line or sell already established brands on the market.
Launching your own clothing line will need investments and time, selling clothes of other brands is much easier and needs very low investment as well. E.g. “Rachel Nillson“, started making rompers for babies all by herself and started selling on instagram. The product was an instant hit among parents and then she went to the famous TV show for entrepreneurs “the sharktank” and got funding for her baby rompers business. Global online apparel market size was approximately US $382.8 billion 2017 and expected to reach US $821.83 billion by 2023.
Start a Lingerie Label or Production – one of the major business in fashion segment
If you are looking for a highly profitable business idea in the fashion and lifestyle segment then there’s nothing better then starting a lingerie label. Lingerie has always been in high demand among women and they spend more time shopping for lingerie. The fact that lingerie are meant for female makes it highly marketable and lingerie market size in the US is expected to reach US $19.8 billion by 2024.
Footwear Manufacturing Business – among competitive businesses in fashion segment
Shoes, sandals, slippers and flip flops are an integral part of our everyday lives and people love buying shoes and sandals to complement different dresses and for different occasions. The demand for footwear is growing across the globe and the footwear market is expected to reach USD 320.44 Billion by 2023 and in the United States which is the largest footwear market in the United States, expected revenues by the end 2019 would be approx. US$91,187 million.
As you can figure out from the global footwear revenues, there’s indeed a large market for shoes out there. So if you are considering to start a business in fashion segment then footwear manufacturing business has lots of opportunities for your business to grow.
Wristwatches Design and Manufacturing
Design and production of wristwatches is yet another good business in the fashion industry. On the average, without a good wristwatch on, you would not have been considered to be fully dressed. Aside from the fact that people wear wristwatches to know time, wristwatches are also part of fashion accessories.
Starting a wristwatch manufacturing company is a capital intensive project, but the truth remains that there is a large market for wristwatch and if you are able to create a class for your wristwatches, then you will be able to attract customers from all over the world.
Caps Production Business
Caps are in demand always and they include hats, trilbies, sunhats, panamas, fedoras, boaters, bonnets and face caps made of different material and available in different sizes. Caps re considered to be part of fashion accessories hence the designing and production of caps is part of the business opportunities available in the fashion industry. So if you are looking for a business to start in the fashion industry, then one of your options is to go into the designing and manufacturing of caps. It is a profitable and thriving business venture that is open to aspiring entrepreneurs.
Open a Boutique
Boutique is also a typical fashion sales business and any entrepreneur in any part of the world can successfully open a boutique without much stress. All that is required to lunch this type of business is a store that is well positioned and money to stock your boutique with different types, colors, shapes and designs of clothes and fashion accessories from different clothing labels / designers. The truth is that, if your boutique is well located and well stocked with quality clothes and fashion accessories, you are likely not going to struggle to attract customers.
Perfume Retail Business
It is safer to say that wearing a nice smelling perfume from a good perfume designer gives one a good dress sense. Retailing of perfumes from different designers is yet another profitable fashion business venture that an entrepreneur can consider starting. This type of business is simple to start and it is also easy to manage.
Some of the major things you need to do to get the business running is to rent or lease a shop, and then stock the shop with various brands of perfumes. Just like most retailing stores, location is key. If you are able to secure a good location perhaps in a busy market, you won’t struggle to make daily sales. As a matter of fact, you can generate repeated sales from loyal customers if you are able to meet their needs.
Eye wear and Sunglasses Retail Store – among profitable fashion business ideas 2019
Retailing of sunshades and fanciful eye glasses frames is yet another highly thriving and profitable fashion related business that an entrepreneur can successfully start without stress. So if you looking for a fashion related business to start, then one of your options is to open a store where sunshades and eye glasses frames are sold. This type of business is simple to establish and of course it is a profitable business. Just ensure that you choose a good location for the business and you won’t struggle much to attract customers. You can read more about the eye wear market size in the United States in this post.
Wristbands are fashion accessories; usually people wear wristbands to complement their dressing style and add some weight to their overall attire. Wristbands are cheap, but people that are into the manufacturing of fashionable wristbands still make profits from the business. So if you are looking for a simply, thriving and profitable business to start in the fashion industry, then one of your options is start manufacturing fashionable wristbands.
If you have a space which you want to utilize and earn a stable income every month then you can start a courier service.
Manufacturing of Hair Accessories for Women is also among profitable businesses in fashion segment
Ladies once in a while make use of hair bands and ribbons as fashion accessories; it brings out the beauty in most women. If you are looking towards starting a fashion related business, then one of your options is to go into the production of fashionable hair bands and ribbons. It is a profitable and thriving business.
Belt Production Business
Male and female alike all have need for belts; this goes to show that there is a large market for belts. Belts are worn on pants (trousers), jeans, shorts and some gowns and belts could be produced with different materials such as skins (leather), synthetic leather, fabric, rubber, wires, beads. As an aspiring entrepreneur who is looking for businesses in fashion industry, one of your options is to go into belt manufacturing. It is indeed a thriving and profitable business.
Men’s inner wear Business
Inner wear for men is among lucrative businesses in fashion segment as it doesn’t just include underwear. From boxer shorts, swimming shorts to gym wear, inner wear has a large market size. If you are looking towards starting a business in fashion segment, one of your options is to open male underwear production company. It is profitable and among highly thriving businesses in fashion industry to start, especially if you have the start – up capital to setup this type of business.
Ladies Fashion Handbags Manufacturing Business
Handbags manufacturing is yet another profitable and thriving business in the fashion industry. There is indeed a large market for bags, just like some of the products mentioned above; there is hardly any female that is above 18 years old that doesn’t own at least one handbag.
Fashion handbags come in different shapes and sizes and from different designers. Starting a handbag manufacturing company is good business to start. So if you looking towards making money from the fashion industry, then one of your options is to start manufacturing fashion handbags.
Become a Personal Stylist
Craze for fashion and styling is growing among millennial and people hire personal stylist during weddings, ceremonies and events to get professional fashion advice. It can be a rewarding career for you if you have fashion sense and can extend your advice to your clients. From high income individuals to mid range salaried professionals, all want to look good and personal styling is among the fastest growing businesses in fashion segment.
Buy a Franchise of a Clothing Brand – Clothing business is a profitable venture
As mentioned above clothing business is expected to grow at a global scale and for you to get into clothing business there are several clothing business franchise opportunities out there, offering entrepreneurs a chance to start earning money from straight away. Here’s a list of best clothing franchise in the United States.
Artificial Jewelry Business is a profitable fashion business idea
People have started overlooking gold and diamond jewelry due to heavy price tags and instead women are experimenting with artificial jewelry as it is affordable and you can dump it with time and buy new pieces on the market. It is a thriving business for an entrepreneur who would want to get into fashion business. You can start this business from home easily as artificial jewelry doesn’t require any special handling unlike gold and diamond.
There are two different models that you can choose when it comes to artificial jewelry business: Sell or Rent. Many times women just want to rent the jewelry pieces that they like and then return and therefore, it can a thriving business opportunity for you to rent jewelry and charge according to the demand.
You can learn more about how to start a profitable jewelry business in this insightful article.
Custom Tailoring for Bridal Wear
Custom tailoring has always been in demand especially among brides for gowns and wedding dresses. You can start a custom tailoring boutique specializing in wedding gowns and dresses.
Open a Retail Store for Baby Products and Pregnant Women Clothing
Another fashion business that you can consider starting is to go into the retailing of baby’ products, clothes as well as maternity clothes. It is a cool way of making money. Before starting this type of business, it is important to first conduct a thorough market survey and feasibility studies so as to choose a good location to rent or lease a store. If you locate this type of business in an area that is dominated by retirees, you are likely going to struggle to make sales. One of the best places to locate this type of business is a hospital and maternity; a place where pregnant.
Footwear Retail Shop/Store
If you do not want to get into footwear manufacturing business then opening a store where shoes, sandals, slippers and belts are sold is yet another easy to setup business that an entrepreneur should consider starting. It is indeed a profitable, easy to start, easy to manage and thriving business especially if the business is well positioned.
So if you are looking for a fashion sale business to delve into, then you should consider opening a store that sells shoes, sandals, slippers, belts, wallets, hats, caps and general leather works as it relates to fashion.
Open an Online Jewelry Store
If you operate a conventional brick and mortar jewelry store, you can leverage on the internet to expand your target market and of course make more monies. All you need to do is to employ the services of a web designer to help you design an online store and then secure a good online payment software and also good shipping arrangement and before you know it, you will start attracting customers from far and wide especially if your prices are highly competitive.
Become an Image Consultant
In today’s modern world where your professional image is everything when it comes to business, the demand for image consultants is growing. An image consultant helps individuals and corporate businesses cultivate a professional appearance. Image consultants are highly trained individuals that help in making appropriate changes to the looks, communication skills and behavior to groom you or your business staff become more presentable.
If you have an eye for fashion, lifestyle and you know the art of communication then image consulting is the right business for you. Initially, you can work with smaller clients such as startups and entrepreneurs and gradually buildup your portfolio to start consulting for larger businesses. You can even start image consulting business from home as it does not require investment, all it requires is experience, right attitude and communication skills.
Wedding Gowns Rental Business
It is a normal practice in most parts of the world for brides to rent wedding gowns during their weddings. So people don’t have the luxury to purchase expensive wedding gowns that they will only use for one day which is why people opt for renting of wedding gowns.
If you are looking for a cool way to make money in the fashion industry, then one of your options is to start wedding gowns rental business. You can successfully run this type of business from your home; you don’t necessarily need a shop to make success out of this type of business.
Interior Decoration Training School
Another interesting and profitable business to start in the fashion industry is to open an interior decoration training school. There are loads of people out there who want to acquire this skill and they will be willing to enroll in your interior decoration training school if it is close to them.
Just ensure that you give your students the opportunity to learn more of practical then theories. If you intend awarding recognized certificates / diplomas in your interior decoration training school, then you should apply for accreditation and license from the education board in your country.
Start a Fashion Blog
Another business in the fashion industry is blogging; fashion blogging is all about educating or passing information to people. Blogging is one of the means several people all over the world are making money from the internet. Blogging is all about creating usefully and perhaps educative content for a targeted audience on the internet. If you think that you have good knowledge on fashion, you can make money by sharing your knowledge to a wide range of audience via your blog.
This is how making money from blogging works; if you have good contents on your blog, loads of people (human traffic) will visit your blog. The larger the traffic that visits your blog, the more money you will make. If you blog attracts huge traffic, you can attract adverts from top corporate organization. You can also earn money from your blog via AdSense, by offering subscription services to members and also selling your products via your blog.
Open a Spa
Wellness industry is set to grow in the years to come as our lifestyle is becoming stressed and hectic. Spending on massage, facials, hair care and other wellness treatments have gone up in the recent years and the wellness industry in the United States has generated approx. US $17.5 billion in 2017.
Key components to success when starting a business in fashion Industry
When considering or planning about starting a lifestyle or fashion business, you need to keep few things in mind such as:
Don’t think about growing too fast
Every business takes time to establish and before you think about scaling up, you should keep in mind that obsession for fast growth can be dangerous. You can only learn the ups and downs of any business with time and so, give it time and enjoy the journey towards reach a point of scaling up your business operations.
Give Priority to customers over money
Money is a byproduct of business and ultimately the goal of any business is to make profits. When your business is new, you need to focus on building relationships while not paying much attention to the money. Ofcourse, customers would love to pay if they feel satisfied with your products and services. Think about customer retention and work towards it to establish long lasting relationship with your customers.
A huge advantage of lifestyle and fashion business is, customers stick to a business even if they don’t get to see you once your business is established. Establishing a sense of trust among customers is what you need to do in the beginning and rewards will follow.
Your Business can be the way you want it to be
It’s upto you where you want your business to be in the future. Whether you want to grow big or stay small with few employees, this is the beauty of any business that you start. You can also diversify into segments related to fashion and lifestyle business ideas or completely different. Be ethical and deliver value to the customers and your business will keep growing year-on-year.
Lifestyle and fashion businesses are fascinating, lucrative and offer high growth opportunities to the entrepreneurs and especially to women. Demand for clothing, fashion accessories, footwear and wellness centres is growing and there are infinite opportunities in these segments for starting a business. It doesn’t matter where you are based, all you need is a business plan and lots of passion towards your business and you can do it. If you are looking for high growth lifestyle and fashion business ideas with low investment then check out the list above.
Remember to do your own research and consult with a business coach if you do not have any prior business experience. Institutions like SBA (Small Business Administration) helps entrepreneurs in the United States with planning, training and starting a business as well as with guaranteed business loans, you can get in touch with them in your city or town and get free advice.
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