Forms of business

• Different businesses in the Fashion Industry

  1. sole trader
  2. partnership
  3. private limited company
  4. franchising
  5. social enterprise
  6. lifestyle businesses
  7. online businesses
• Clothing Franchise

  • Clothing franchises are retail businesses that sell apparel and accessories. They connect with independent franchisees to expand to new locations.
• Reasons to consider Clothing Franchises:

  1. get a proven business model
  2. serve local community
  3. explore love of fashion
  4. stay ahead of popular trends
  5. enjoy active and social environment
• Criteria Small Business Owners should consider when evaluating clothing franchise opportunities:

  1. initial investment and outgoing costs
  2. quality and range of products
  3. training and support from franchisor
  4. market demand and target audience
  5. location
  6. fashion trends
  7. return on investment
  8. ethical practices
• Independent:

  • A business that has autonomy in the way it operates rather than being controlled by a larger organisation.
• Multinationals:

  • Businesses that operate in more than one country.
• Conglomerates:

  • Two or more businesses that operate under the power of one corporate group.
• Examples of independent and conglomerates