Before launching your business you need to study the market, as knowing is power. Plan out the essentials required for launching this business.
Finalise the type of the models that your agency will represent. For example Latino, African American, Caucasian, Asian, Male or Female models.
Finalise the capital you will require to launch the business. It is important to have funds which will sustain your business without any profit for a considerable period of time. It is wise to make a list of all the expenditures needed to get started. This will include monthly rent, costs of hiring models, cost of scouting for talent, hiring a photographer, marketing and office supplies.
Secure a perfect location, preferably right in the heart of the city which will make it easier for your models and clients to reach your office. The environment of your location should be safe and friendly otherwise people will avoid making visits and instead could choose to finalise deals on the phone.
Always conduct a formal interview before agreeing to represent your talent. Knowing your models is important.
It is recommended that you make your models sign a contract before formally representing them. Develop a contract for your models with the help of an attorney, making the dealing between you and your talent crystal clear. You need to clearly mention the terms and conditions in the contract for the convenience of your talent.
Professional agents never charge their models fees, as they make money by securing their models jobs and then only take a percentage of their pay. This prevents agents from charging their models without getting them any work.
You should make a list of the magazines, websites, fashion designers, fashion editors and fashion manufacturers, as these will be your sources of jobs for your talent.