Business Opportunities Weblog

October 16, 2005 by Dane Carlson | 1 Comment

Startup Journal:

When Courtney Crawford first explored launching a designer-shoe company in 2004, he had no previous business experience. He envisioned a line of primarily high-heels for a woman who “didn’t mind being center stage” and was “unapologetically sexy,” he says.

But he knew designing his own line would be an expensive proposition. He’d have to pay for work space, materials, trademarks and a look book, a collection of photographs of his designs to show potential buyers and retailers. In researching, he found that the look book alone could cost thousands of dollars.

“With a luxury brand, people sometimes spend $100,000 or $200,000 on a look book. I didn’t have anywhere near that kind of money,” Mr. Crawford says.

To make his dream a reality, Mr. Crawford had to persuade potential investors to provide financing to help turn his designs into the high-end footwear that upscale boutiques would covet. This meant first climbing a steep learning curve and then working closely with his backers to assure them that their investment would one day yield a profitable operation.

This piece is the first in a new series on how entrepreneurs secure financial backing to launch their new businesses.

In Uncategorized | 1 Comment
Tags: Entrepreneurial Lifestyle, Financing