Crowdfunding Your Fashion Business Startup with Shannon Lohr of Factory 45
When I was 25 I wanted to start my own clothing line and open a boutique so badly I couldn’t think about anything else – I dreamed about it at night and I swear I could taste it in the daytime. But, like so many would-be entrepreneurs, I had no money, not chance of borrowing from a bank, and no flippin’ clue about what to do.
There was no crowdfunding when I started 🙁 and I felt totally helpless. Fast-forward to today and there are OPTIONS for entrepreneurs :).
Crowdfunding is really a form of pre-selling your product and it WORKS. Thousands of fashion startups have financed their collection with crowdfunding and it’s only getting more accepted and understood.
P.S. I ended up being lucky enough to get a $25,000 loan from 2 uncles (a rich uncle, who knew??!!!) to start my business, paid it back in 2 years, and never borrowed money again :).
Today’s episode will show you how you can raise money for your fashion startup in the next 6 months – without investors, taking out a loan, or accumulating debt.
My guest, Shannon Lohr, is an expert on crowdfunding for fashion companies. In fact, when she and her partner launched their own Kickstarter campaign, it became the highest-funded fashion project in Kickstarter history at the time, raising enough money to quadruple their first production order. Bam.
You can enjoy this interview as a video or as a podcast.
What we cover in this crowdfunding interview:
- What to do in the first 7 seconds of your crowdfunding video
- How to tell your story to get people to back you
- The power of guest posting and what it did for Shannon’s Kickstarter campaign
- The 3V’s of a successful crowdfunding campaign
- Slick video or old school?
- Flat lay images and look book photos
- Crowdfunding rewards for backers
- Pricepoints that work best for a successful (funded) Kickstarter
- How often to email people about your crowdfunding campaign
Kickstarter Campaigns to Check Out:
What do YOU think?
Was this interview helpful? What’s your ONE big takeaway? Please LMK in the comments below – it really makes my day when you write me back!
Thanks for watching and listening,