With years of experience in the menswear fashion industry Amy decided that it was time to fulfil her ambition and set up her own clothing business.
Together with her co-founder, Amy established Monks & Co, an online menswear fashion retailer and shop based in West Malling Kent.
The adventure started back in November 2012 when Amy and business partner Michael noticed a gap in the market. The partnership decided to spend three months researching the market.
“When I first reviewed the results from the market research I was shocked. I thought the business would work, but what the research came back with was always going to be the deciding factor. A staggering 89% of people asked would shop in the proposed store and 40% of those even opted into marketing materials so we already had a small database to start marketing to.”
Amy knew it was time to get some professional advice and start to consider funding options. She submitted a first draft of her business plan to Start Up Loans and successfully received funding.
Monks Clothing intends to find more unique brands to stock and is looking at also creating their own in-house collection of clothes. The partnership are considering opening more shops in similar locations to support the high street and remain true to the business objective.
It is important to Monks Clothing that they play a large part in the community, helping to support other local businesses and community spirit. Monks clothing are proud to be supporting local charities already.
Despite her experience in the sector, Amy has still found the mentoring a vital part of the Start Up Loans package.
“I have been matched with a fantastic mentor who really guides me to making the most out of my business, sometimes when we meet he is purely confirming what I already know but it’s that support which gives me an invaluable boost of confidence in what I am doing. It’s been a fantastic experience from start to finish and I am looking forward to the future of Monks Clothing!”