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Q+A with Fancy Dresser

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Comments

  • #52
    Tony Almeida
    Registered Users, Registered Users 2 Posts: 131 ✭✭Tony Almeida


    These customers, how do you attain them in order to ask their opinion? That i assume is all online, but would take significant online advertising no?

    Also, can you expand on what you mean by scaleable, what business model do you think should be adopted in this environment?

    If i wanted to expand my business outside of online revenue, i.e. to retail owners, how best to approach them? and what sort of profit margin would they expect to attain?

    Final thing, how much startup capital would you recommend would be needed, and where would it be best invested?


  • #53
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    @ Tony Almeida
    Tony Almeida wrote: »
    These customers, how do you attain them in order to ask their opinion? That i assume is all online, but would take significant online advertising no?

    Yes i was thinking online, but thats because its my personal area of expertise, you wouldn't necessarily need any advertising. Just a decent blog and some great idea's for tee's.


    Also, can you expand on what you mean by scalable, what business model do you think should be adopted in this environment?

    Scalable basically means if demand is only for 100 tees you can cope, but also if demand is for a million that you would be able to meet demand. ie. Have subcontractors that would meet demand. For example if you have a monthly shipment from China with tees designed, its more likely you can grow faster than if you buy a tshirt printing press yourself (ie. Manufacturing).

    If i wanted to expand my business outside of online revenue, i.e. to retail owners, how best to approach them? and what sort of profit margin would they expect to attain?

    First you have to work out what value you bring to the retailer is, why should they buy from you? They may be buying from more established sources with greater brand recognition or economies of scale. Retailers expect 40%-200% mark up depending on the niche.

    Final thing, how much startup capital would you recommend would be needed, and where would it be best invested?

    Depends what route to market you use. You need to get a business plan together, use this


  • #54
    lecheile
    Registered Users, Registered Users 2 Posts: 703 ✭✭✭lecheile


    Fancy Dresser wrote: »
    Always remember that Mc Donalds is not in the hamburger business, that's just its product; Mc Donals is in the real estate business.

    Interesting that you should mention McDs and their buisness model. Piece on Harvard Business Review last week about how they believe they continue to prosper amid the chaos here


  • #55
    Atlas_IRL
    Registered Users, Registered Users 2 Posts: 1,857 ✭✭✭Atlas_IRL


    Hi, just some questrions about the online fashion industry.

    What was your biggest hurdle starting off?

    Do you get more benefit from good SEO than google adwords?

    I will be doing a website for my family business who are in the shoe industry who have a really poor website currently and i have given them a proposal to re-do the site and launch it properly. As the name is well known it will be easier to market than starting from scratch.

    Just from reading a post you said here http://boards.ie/vbulletin/showpost.php?p=61342918&postcount=5 it got me thinking about if there are some vital information i am missing at the moment that you get with experience.

    I am currently learning SEO and will have an adwords budget and will try social media as well but im sure there are things that i wont know presently or when the time comes. Any tips you could give to someone starting online in an industry similiar to yours? I know i may sound vague but anything you can think of would be helpfull

    thanks.


  • #56
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    @Atlas_IRL
    Atlas_IRL wrote: »
    Hi, just some questrions about the online fashion industry.

    What was your biggest hurdle starting off?

    Reaching critical mass is an issue with any website. The more you can address and solve the issues that people come to your site to resolve the better you will preform. This could be in terms of having enough variety of stock, quantity of stock, competitive buying power etc.

    Do you get more benefit from good SEO than google adwords?

    These are not mutually exclusive, Adwords calculate score based on price x landing page x quality score (and a few other bits but these are the big hitters). Without optimization your adword campaign is directly affected. Basically Adwords is like getting more customers through the door today, SEO is building your brand reputation. I don't agree with outsourcing your adwords campaign to a company, but if needs be hire in someone to explain the system to you.

    I will be doing a website for my family business who are in the shoe industry who have a really poor website currently and i have given them a proposal to re-do the site and launch it properly. As the name is well known it will be easier to market than starting from scratch.

    The shoe industry ROCKS in terms of online potential. I'm ashamed that Ireland doesnt have a decent site for this. Zappos just sold to Amazon for 920 Million last week - think about it a company that already sold shoes, spent that much money on acquiring a business that has a better model for selling shoes.

    Are you selling designer shoes? As in Nike, Pepe, Hugo Boss? If so pm me, I'd consider partenering up with you. (But would want to wait till Feb 10, to see if amazon roll Zappos out in Europe).


    Just from reading a post you said here http://boards.ie/vbulletin/showpost.php?p=61342918&postcount=5 it got me thinking about if there are some vital information i am missing at the moment that you get with experience.

    It is a chicken and egg thing, you need to start to get learning. I certainly didnt know everything when i started and everyday i learn something new. If your going into something as aggressively competitive as shoes you'll need to learn fast, still its definately worth a shot.

    I am currently learning SEO and will have an adwords budget and will try social media as well but im sure there are things that i wont know presently or when the time comes. Any tips you could give to someone starting online in an industry similiar to yours? I know i may sound vague but anything you can think of would be helpfull

    A Budget in adwords is irrelevant, you'll need to determine (through market testing) the net marginal worth of a customer ie. how much profit they deliver, annualised. Then you can work out how much you're willing to spend per 1000 visitiors to achieve x% in conversions which delivery y% in profit. Essentially you know that for every 100Euro you spend on advertising you will earn "Z"Euro in profits. This Z is variable to different campaigns ie. products, categories and can be applicable to offline advertising such as Radio and Television.

    Start a blog and get committed about posting and building a community. Hope that helps.

    thanks.


  • #57
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Sorry to drag back up the thread but didnt want to start a new one either. Anyone else lined up to be pushed, fall, or otherwise end up in the well? There was talk of Sean Gallagher a while back, anything come of that or any other canidates? Really enjoy these and find them very informative. Shoutman you might be in the know?


  • #58
    shoutman
    Registered Users, Registered Users 2 Posts: 6,924 ✭✭✭shoutman


    I've no idea what the story is/was with regards Sean Gallagher, Scien was the man involved with that, I'm happy to start another thread as I find them great, can anybody think of a poster on here who they'd like to be next in the well?


  • #59
    Heisenberg.
    Registered Users, Registered Users 2 Posts: 7,541 ✭✭✭Heisenberg.


    This post has been deleted.


  • #60
    Axwell
    Moderators, Computer Games Moderators Posts: 10,462 Mod ✭✭✭✭Axwell


    Ya not worth the hassle as you say or in the spirit of the whole thing...so whos next up then??


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