How To Set Up Your Sustainable Fashion Brand
Have you been thinking of launching your sustainable brand recently? If so, we want to support you in jumpstarting your dreams!
Setting up your brand and taking the right measures to ensure a successful launch is super important. You want to do this right away so that you don’t have to pay penalties, legal consequences, etc. later down the line. Although we usually reserve these juicy tips for our clients, we have seen many founders make mistakes and we want to help prevent you from doing so. We need more genuinely sustainable brands around!
1. Business Name
When thinking of your business name, you want to pick something that is easy to remember, pronounce, and preferably spell. Your brand name should be short and sweet— preferably one word. Once you’ve brainstormed some ideas, conduct an online search for competitors or other brands that may already be using your name ideas. You can use tools like GoDaddy to check if the domain is available or use social media to search handles with the same brand name. And lastly, do a trademark search to see if that name is available.
2. Legal Items
We really recommend that you look for a lawyer in your area to help you with all the legal things in your business. This can include registering your business name, deciding the legal structure of your brand, terms and conditions, privacy policies, contracts and NDAs (non-disclosure agreements). Having a lawyer will help prevent you from making mistakes and future complications if in the case that something goes wrong legally, you will be protected from the start. Diving deeper into the legal structure, you can choose to be registered as a corporation, or LLC (incorporation in Canada). We normally don’t recommend sole proprietorships, but everything is up to your discretion and what you feel is best for you and your business.
3. Accounting And Finances
When setting up your brand, you need to create a business bank account and get a business credit card. You don’t want to be incurring business expenses on your personal account, so don’t push this off! In terms of bookkeeping, we recommend using Quickbooks which is a tool that you can use to quickly and easily track all your business expenses.
