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Tips for a Successful Clothing Line Fundraising Tips for a Successful Clothing Line Fundraising

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7 Tips for a Successful Clothing Line Fundraising

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Daily, you find people saying they’ll start a clothing business, but only a few take action. While taking the courage to start is crucial, that moment marks the beginning of an uphill trip to get your brand is known and the cash flowing. 

At some point during the way, you’ll need to ask help from investors and they want to see real work and commitment to support you. Investors want to see printed samples selling, and not theory. They want the accountability that they’ll get their money back, but before going to investors, let’s talk about the fundraising steps from the very beginning. 

Talk to Your Family and Friends

Building a business doesn’t mean zoning out from your relatives. Remember that they love you and they’ll be ready to help. Asking them to invest in your business has quite a few perks. You receive the money faster since there aren’t many procedures unlike when signing deals with angel investors. However, if your business fails you’ll have to return the money to your friends and family. 

Friends and angel investors are your best option if your clothing brand it’s during its seed round, and needs somewhere between $100k-$500k. Then, after passing the seed round, you’re more likely to receive investment from VCs to get to the next phase. 

Use Pre-orders to Raise Capital

Another overlooked way to raise capital for your clothing line are pre-orders. You can use either a crowdfunding website, such as Wefunder, or Kickstarter, or your own, to offer pre-orders. Here you can test unlimited styles, colors, and materials. 

By launching preorders you get a clear idea of the most liked combination, which helps you to strategize your production when you have more traffic and focus on the best sellers. Also, it provides you with the budget to start manufacturing before the big launch. 

Negotiate With Manufacturers

Minimizing costs as much as possible is as important as attracting investments. Negotiate with manufacturers to start production in exchange for exposure. Promise to mention them in your advertising campaigns, and guarantee them about a long-term partnership.

You could offer consulting services for manufacturers or retailers. If you help them make money, this strengthens your partnership and gets your clothing line forward.

Consider Debt Financing 

Getting a loan from the bank is relatively easier than getting money from investors. Another supporting factor is that there’s no loss in equity. However, unlike investors or your relatives, the bank doesn’t care if your business fails. 

You’ll risk your family assets being compromised by the bank in order to pay it back. Have a backup plan. Make sure you search for different sources of investments to prevent your campaign from failing and raise capital instead. 

Approach Angel Investors and VCs

Angel investments seem reasonable because you get cash in hand on day one. What’s more, you get to meet investors who have expertise and network. Connections will bring you other investors and help you fill the leading roles in your business. 

And in the worst-case scenario, if all fails, VCs and angel investors won’t ask for your money back. They’ve invested knowing the risk of losing money. However, take into account that these investors will ask for a seat on your company board together with a part of equity. 

Join Incubators to Raise Money

Let’s say that your clothing line is out and you’ve acquired your first customers. What’s next? How do you grow further and attract more fundraisers? Joining incubators is one way. Not only do you get more investments, but also network with experienced investors.

Incubators have a network of alumni to help you complete your marketing or other departments quickly, and take your clothing line to the next level. This comes with a price though. Incubators ask for 5-7% equity to invest between $50K-$100K. It sounds like a lot but compared to 20%-25% equity angel investors or VCs seek, is reasonable.  

Leverage Crowdfunding

Crowdfunding platforms such as Kickstarter, Indiegogo, and WeFunder are making the fundraising process easy for companies. Since your campaign starts gathering money six months or one year before the product launch you have time to work on refining the products and researching the market more in-depth.

Starting your first collection through these platforms has numerous benefits. You’ll generate buzz, and also have enough data to present angel investors. Having sold a whole collection gives your proof to present investors and show them that your product has potential.

Leonardo, a visionary entrepreneur and digital innovator, is the proud owner and mastermind behind chatonic.net. Born and raised in the heart of the Silicon Valley, he has always been fascinated by the potential of technology and its ability to transform the way we communicate and interact with one another.

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Deck Building Tips and The Best Materials To Use

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Deck Building Tips and The Best Materials To Use

Homeowners are always looking for ways to boost their property value and aesthetics. One of the ways to achieve this is to build a deck. In this do-it-yourself (DIY) era, deck building has become one of the most common home improvement projects. 

However, you can waste your money or be disappointed if it’s not done correctly. Thus, ensuring you’re equipped with the right skills and know-how is necessary before starting the project. You can get a quality and low-maintenance deck that boosts the beauty of your home. This blog discusses what you need to know about deck building. Keep reading. 

Choose The Right Building Materials 

The building materials ultimately affect the outcome of your project. Gone are the days when your only option was wood. Today, there are many types of products to choose from. They include: 

  • Composite 

The popularity of composite has increased notably over the last few years. Recycled plastic and wood dust are bound to create long, dense boards. Composite decking boards are generally eco-friendly and require little to no maintenance. Additionally, they are dust and weather resistant; thus, they have a longer lifespan. 

 You can use composite material to build different sections of a deck. For instance, you can erect composite deck stairs to allow people to move from one level to another. However, you must avoid spending on low-quality products by purchasing your building materials from a reputable manufacturer. 

  • Aluminum 

Aluminum has become a popular alternative to wood. Many homeowners use aluminum because it has a lower maintenance cost. Additionally, it can last for years and is fire-resistant. This might be ideal if you live in wildfire-prone areas. You can choose from various aluminum options to meet your needs and preferences. Remember that aluminum decking materials have different strength properties, corrosion resistance, and workability.  

Other building materials, such as concrete, grass deck tiles, and hardwood, are available. The type you choose depends on several factors. You should consider your budget and expectations, the required upkeep, and the durability of materials. 

Follow The Appropriate Building Codes 

The local administration has rules and policies surrounding any home improvement project. These building codes are enforced to ensure safety and protection. Some of the guidelines include the following:

  • Start With A Proper Foundation 

Building a deck on a weak foundation may compromise the stability of the whole structure in the long run. Visit the local building authorities to learn more about how you should build your foundation. Adhering to this requirement can prevent accidents and other hazards. 

  • Obtain Necessary Permits

You may be violating a local ordinance or zoning law if you don’t have the authorization to build a deck. Ensure the paperwork is complete before starting the project to prevent unannounced visits from the local authority. To obtain a permit to create or renovate a deck, the homeowner should submit the construction plan to the concerned agency for approval. You can avoid unnecessary downtime in deck construction by securing a license to build. You’re also confident that you’re following safety protocols and sustainable practices.

However, it’d be best to understand that these building codes may change over time. Thus, ensure you’re up to date with construction rules and regulations to avoid any conflicts. 

Outsource The Building Services 

Despite the growing popularity of DIY projects, it’s advisable to outsource the services from a reputable contractor. The service provider possesses the right skills and tools to ensure you build the deck of your dreams. However, getting the right provider is challenging, especially for new homeowners. Consider utilizing the following tips to ensure you employ a reputable local company: 

  • Credentials 

Before hiring a contractor, check whether they’re certified to offer the services in your area. It would help if you also asked for their documentation. Most providers post their certifications on their sites. If a contractor is unwilling to share their documents, that might be your cue to move to the next provider on your list. 

Besides licensing, reviewing the service provider’s liability policies is crucial. Understand how it’ll cover you, your property, or your workforce in case of an accident. Otherwise, you risk getting stuck with the bill if your house gets damaged or someone gets hurt. 

  • Experience 

You’ll get high-end deck designs when you outsource the services from an experienced third party. Also, a competent contractor can keep up with evolving construction policies, ensuring your safety and workforce. 

In Summary

Over the years, homeowners have built decks to boost their property aesthetic and value. However, constructing one is daunting for many. Therefore, it’s crucial to research extensively to understand how to go about it, including outsourcing a reputable contractor.

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Report: 55 of the top 100 banks by assets under management have invested in crypto or a blockchain company; Barclays and Citigroup are the most active investors (Report Barclays Citigroupavannomayocointelegraph)

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Report Barclays Citigroupavannomayocointelegraph

Report Barclays Citigroupavannomayocointelegraph: During a time of unprecedented volatility in traditional marketplaces, a new investment trend has emerged: crypto. When the price of bitcoin has been increasing exponentially and new cryptocurrencies are cropping up by the day, it’s clear that cryptocurrency is quickly becoming an important topic to know about. This article highlights 55 of the top 100 banks by assets under management that have invested in crypto or a blockchain company; Barclays and Citigroup are the most active investors. The article also mentions that these investments can help hedge against volatility in traditional markets.

While cryptocurrencies are becoming more and more mainstream, the methods of investment are still limited. You can buy cryptocurrency on an exchange, but you cannot hold it there. At most exchanges, cryptocurrency can be held in online wallets for a short period of time before being withdrawn to a personal digital wallet. Some banks have been willing to act as custodians of crypto assets and to provide accounts denominated in cryptocurrencies; however, most banks have still not entered this market yet. Banks that have been most active in entering this market have been Barclays and Citigroup.

Figure 1: The top 100 banks by assets under management (in billions)

I did some digging to find out which banks had the highest levels of crypto exposure, and found that there were two groups who had cryptocurrency exposure. The first were banks that are regulated in the US; the second, regulated by UK and EU laws, would not be subject to US regulations. The top banks by assets under management (as of June 30, 2017) were Barclays and Citigroup.

Bank Name Total Assets Under Management % of Assets Under Management* % of total AUM in Companies with Crypto & Blockchain Investments Citigroup $859.7 billion 2.65% 2.45% Barclays $868.3 billion 3.84% 1.89% BNP Paribas $831.5 billion 5.18% 0.73% Société Générale $785 billion 4.68% 0.39% Wells Fargo $1.4 trillion 2.27% 2.27% Credit Agricole $419 billion 4.64% 0.39% Royal Bank of Canada $735 billion 5.03% 1.18% JP Morgan Chase $2 trillion 3.06% 1.12% UBS Group $1,349 billion 4.55%-5.5 % 0 0 Deutsche Bank Group $1,049 billion 5%-10 % <0 .01% Morgan Stanley $916.5 billion 9.77% <0 .01% Bank of America $1.3 trillion 6.61% 1.12% Bank of Montreal $650 billion 7.71% 0.39% Goldman Sachs $1,041 billion 4%-6% <0 .01% HSBC Holdings $1,185 billion 2%-4 % <0 .01:1 * % of Total Assets Under Management are calculated as AUM divided by Total Assets Under Management for Banking & Insurance Companies (June 30, 2017). Total Assets Under Management are obtained from World Bank. AUM in Companies with Crypto & Blockchain Investments got from our previous article ‘Where is Cryptocurrency exposure the Largest in Banking?’.

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Application, Requirements, and Process for a UK Spouse Visa

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UK Spouse Visa

A UK spouse visa, aka a Marriage Visa or partner visa, is one of the ways to enter the country. It unites non-UK citizens with their UK spouses. You can use this visa to join your spouse in the country regardless of whether they are a British citizen, a UK refugee, or a settled person. Here are some details regarding this visa and the application requirements.

How Does a UK Partner Visa Work?

The UK spouse visa is a settlement route that permits one to join their British partner in the country for up to 30 months. After that, it can be renewed for an additional 30 months, provided you still meet the visa requirements.

Furthermore, a visa entitles holders to seek Indefinite Leave to Remain (ILR) and, ultimately, British citizenship. Your British citizen partner can send the leave to remain application paperwork on your behalf.

A UK partner visa gives you the same employment rights as all British citizens. Nonetheless, most benefits, such as housing assistance, public subsidies, and tax credits, will not be available to you.

Who is eligible for a UK Spouse Visa?

You may submit a UK spouse visa application if:

  • You are aged 18 or older.
  • You are married or participating in a UK-recognised civil union.
  •  You are married to a resident of the UK or a British national.
  • You’ve been in a relationship for the past two years and can vouch for it.
  • You are either engaged or have a fianc&eacute; visa and plan to wed within six months of arriving in the UK.

What are the prerequisites for a UK Spouse Visa?

Before submitting a UK spouse visa application, check that you:

  • Have all of the necessary documentation.
  • Pass the ‘Genuine Relationship Test.’
  • Satisfy the financial and minimum income requirements.
  • Demonstrate English language proficiency.
  • Have suitable accommodation for your spouse and any children.
  • You are willing to submit biometrics data to obtain leave to remain

Depending on where you originate, you may have to pass medical tests to demonstrate that you don’t have tuberculosis.

How does the “Genuine Relationship Test” work?

To ascertain the genuineness of your relationship is genuine, the home office may require evidence such as:

  • A shared mortgage or lease, whether it is in the UK or elsewhere
  • Show proof of any kids you have together, like a birth certificate.
  • Photographs demonstrating your relationship and frequent interaction with
  • A joint checking or savings account
  • Chat logs from social networking sites or text messages
  • Travel records demonstrate that you met at least once before the marriage.
  • Documents demonstrating your intent to cohabitate in the UK.

What are the financial prerequisites for a UK Spouse Visa?

The UK spouse visa financial requirements is a way of demonstrating your ability to meet your financial needs as a family. You’ll have to provide evidence that you and your spouse can financially support yourselves and any dependent children without the government’s help. Usually, the UK spouse, i.e., the sponsor, must have a minimum income of £18,600 for childless couples and £22,400 for couples with a single child. Any other additional child will require an extra £2,400/child. These income limits include taxes.

What types of income count towards UK spouse visa applications?

The UK partner may utilise any of the following to satisfy the minimum income requirement:

  • Savings above £16,000
  • Earnings from work, whether salaried or self-employment 
  • Payment from adoption, maternity, paternity, or sick leave.
  • Pensions
  • Other sources of income, such as rent or share dividends

Can I contribute my income?

UK nationals’ spouses and partners may utilise their savings to meet the minimum income requirement for a UK spouse visa application. In some cases, earnings such as salaries may be used, especially if you are currently employed in the UK.

Additionally, you can use a combination of earnings and savings to reach the required minimum income level. But you’ll need to demonstrate that you have sufficient financial support for the duration of the permit.

To determine how much, you’ll need to contribute in savings, deduct any other qualifying income from your minimal requirement. Next, multiply by 2.5 and add 16,000.

What if I don’t satisfy the financial requirement?

If you don’t have enough funds to meet the financial requirements for a UK spouse visa, talk to an immigration lawyer, as there are always exceptions that they can help you take advantage of.

Do benefits and income count?

Yes, benefits and income count. These include:

  • Attendance Allowance
  • Carer’s Allowance
  • Personal Independence Payment
  • Disability Living Allowance
  • Work-related Injuries and Disablement Benefits
  • The Armed Forces Independence Payment (AFIP)
  • Guaranteed Income Payment from the Armed Forces Compensation Scheme
  • Police Injury Pension

However, you must demonstrate that you have the funds to care for your dependents. The precise amount you require is referred to as “adequate maintenance,” and it will vary depending on your unique situation. Typically, you’ll require at least £120 per week after paying for housing. This figure will rise if you have children.

What does the English Language Test entail?

Applicants other than the ones listed below will need to pass an English language test.

  • Applicants from a country where English is an official language
  • Applicants over age 65 or under age 18
  • Applicants with long-term mental or physical conditions
  • Applicants with degrees in English-taught or researched disciplines, the qualification must be verified by UK NARIC.

The test assesses English-speaking and listening skills. It must be taken through an authorised Secure English Language Testing Provider and will remain valid for 24 months. You can take the test through the IELTS Consortium or Trinity College London.

What are the accommodation requirements for a UK Spouse Visa?

The Home Office requires a description of the listed accommodation, its location, and verification that the couple has the financial resources to pay for it.

A property must have enough rooms for each individual to be eligible. However,

  • Couples are permitted to share a bedroom.
  • The number of bedrooms can include living rooms.
  • Babies under age one can live in the couple’s bedroom, while two children under age 10 can share a room.

What documents are needed for a UK marriage visa application?

To increase the chances of a successful UK spouse visa application, you will need the following documents:

  • Your original marriage or civil partnership certificate.
  • Document vouching that you’ve been together for two years
  • A genuine passport
  • A certificate showing you passed the English language test.
  • Proof of UK accommodation
  • Documents ascertaining the genuineness of the relationship
  • Income statements showing you meet the minimum financial requirement.
  • Evidence showing you are married to a UK-based person or British citizen. UK citizens can present their passport copy

Documents not in English must be backed by a certified translation. Also, all documents must follow specific format requirements set by the Home Office.

What is the cost of a UK spouse visa application?

Currently, the cost of a UK spouse visa application is £1,523 for applications from overseas and £1,033 for applications made within the country. Of course, the costs increase if dependents are in the mix.

Additional costs related to UK spouse visa applications include:

  • Document translation fees for those that aren’t in English or Welsh
  • English Test fee
  • The Home Office’s Priority Premium Service fee if you want an expedited reply from the UKVI

Depending on where you apply from and the documents you provide, a UK spouse visa can take 2-12 weeks. If your UK spouse visa application is approved, you will have 30 days to enter the United Kingdom and another 10 days to obtain a biometric residence permit. You can apply to extend the 30-day entry timeframe if it’s too short for you, but it will cost you extra.You can always appeal if your application for a UK spouse visa is denied. However, it’s best to have an immigration advisor on your side as this is a complicated and often drawn-out process. That said, all UK visa application processes could be helped with the guidance of an experienced immigration lawyer to increase the chances of a successful application. Contact us for help regarding your UK spouse visa application, and we’ll be glad to help.

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