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At the conclusion of this course, the student should be able to:
1. Explain the legal aspects of business ownership and identify the parameters of a successful business.
2. Analyze the market viability of a design or product concept.
3. Establish the costs for production of a fashion product.
4. Explain the role of accountants, enrolled agents, bookkeepers, attorneys, Service Core of Retired Executives (SCORE), and the Small Business Association (SBA).
5. Identify the functions of a trademark, a registered trade name, a copyright, and a patent.
6. Identify methods of payment to manufacturers, contractors, and suppliers.
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I. Evaluating the Product or Service Idea
A. Entrepreneurial quotient
B. Market research
C. Product research
D. Initial sourcing and costing
II. Defining and Protecting the Company, Product, and Brand
A. Business plan
B. Brand identity and logo
C. Protecting your identity, trademark, copyright, patent
D. Business structures: sole proprietorship, partnership, or corporation
E. Business licenses, permits, and sales tax
F. The support team: accountants, enrolled agents, bookkeepers, attorneys, SCORE, SBA
III. Product Design
A. Product line development
B. Prototype, patterns, and pattern makers
C. Sourcing fabric and trim
D. Manufacturing services, licenses, and registration
E. Contractors vs. in-house production
IV. Costing
A. Initial costing based on time and material
B. Cost sheets
V. Sales, Marketing and Promotion
A. Selling seasons
B. Line sheets and samples
C. Social media
D. Direct and indirect sales, sales reps, road sales, and trade shows
E. Sales and marketing plan
VI. Manufacture and Production
A. How to decide what and how much to manufacture
B. The basic steps to manufacture what you have sold
C. Quality control
VII. Distribution, Sales, and Payment
A. Inventory management
B. Shipping
C. Collecting your money
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1. Reading (15-25 pages per week)
2. Notebook of inspiration and resources to turn a fashion design idea into profit
3. Oral report on business, marketing, or production related issues
4. Write a business and marketing plan
5. Class Project: Propose, sample, and cost a potential fashion product from concept to consumer
6. Written assignments, such as summaries/responses (4-5, Total word count 1000-1250)
7. Tests (2-4)
| Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing. | Writing
10 - 25% |
| Business and marketing plan, written assignments | |
| Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills. | Problem Solving
35 - 60% |
| Business and marketing plan, class project, oral report, and notebook. | |
| Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams. | Skill Demonstrations
0 - 0% |
| None | |
| Exams: All forms of formal testing, other than skill performance exams. | Exams
15 - 20% |
| Tests | |
| Other: Includes any assessment tools that do not logically fit into the above categories. | Other Category
15 - 20% |
| Attendance and class participation | |
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Guide to Fashion Entrepreneurship, The Plan, The Product, The Process. Carr, Melissa G. and Newell, Lisa Hopkins, Fairchild Books: 2014 (Classic)