LIM Fashion Insider: Michelle Alleyne

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

Startup costs

Income Statement

Sales Forecast

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.

Create look-books

Hire a model to wear it for shoots and sizing

Not sure how to size? Look at competitors' sizing