Open a clothing store is serious business. This is an industry that can help you earn a good steady income every month, and in which you have many possibilities than expand in the future.
Fashion is a business that generates a lot of money in any country.
Every year, billions of people add new items to their lockers and, although there is competition as in other sectors, there are many types of stores that will not be difficult to make a hole in this industry.
How to open a clothing store in 8 steps
1. Specialize and looking for a specific market
Before looking for a local clothing suppliers and even make a budget for your store, you need to know what type of items you will sell.
Do not try to focus on the different trends that exist now on the market.
To succeed in this business, specialization is the key.
You can do this by focusing on the type of customer you want to attract. Ideally you elaborate one market research to find out which types of clients exist in your area and thus not go wrong with the kind of store that will open.
It is important that this be your first step.
Imagine you decide to open a children’s clothing store, but before you do a market study. What if in the area where you open your business most people are over 18 years?
Customers will not have to sell your products and your business will fail.
So be sure to first study well the type of population that exists in your area, and make a few questions such as:
- How many men, how many women, how many children?
- How old are these people?
- How wealthy are they? (This will then help you to price your products )
- What interests or hobbies do you have?
With this information you can better choose the type of clothing store you should open: for young women, for teens, kids, maybe a sports clothing store, or a specialized in wedding dresses and wedding shop.
2. Write your business plan
Do you already have a clear picture of what specialty you sell clothes? Then it’s time to write your business plan to organize any important aspect.
This step is vital because it will help you detect any problem that may occur in your business and will help to ensure the success of your store.
Some important aspects you should look to your business plan are:
- What is the concept of your shop
- What will your market and who your customers
- What items will sell and what their prices will
- How much money you have saved and how much need to borrow from the bank
- What will the cost of your rental premises, counters and other decorations
- If you need to hire employees, how many you need and what salary will be according to your budget
- How can promotion your business to attract customers
3. Find funding to open your clothing store
Open a physical store clothing is not exactly cheap. If you think you can not meet the initial expenses and do not want to borrow money, I recommend you start by opening an online store instead of a local.
But if you really want to open a physical store, you have to find the money to do so.
There are many ways to achieve this: with your own savings, borrowing money to friends, family, or a loan from your bank, or by requesting that your government can help provide small entrepreneurs.
Remember it is easy to spend thousands of dollars on a business, but not essential. Do you really need that so modern tester but too expensive for you?
If at first you do not have much budget, it is better to replace basic things like hangers or counters for a cheaper but good quality.
Think about what things are really essential, and which ones are pure caprice
4. Find a place in a suitable area for your clients
Now that you have created your budget and perhaps you have already taken out a loan to start your business, is find a good place to attract all possible customers.
According to the money you’ve got, you can choose to buy or rent the premises.
Based on the experiences of the entrepreneurs I’ve interviewed, my recommendation is to start a business, whatever kind it is.
If for any reason you buy a home, and your business does not work as expected, you have to keep paying the mortgage on that store until you can sell it to someone else, and lose money.
So you better rent a local Some tips for choosing a good location for this are:
- Make sure you are in an area for which spend a lot of your potential customers.
- See if you can comfortably reach your business. That is, it is not difficult to find area or in the surrounding streets have always works and obstacles preventing him from reaching your customers.
- Look at your potential competitors. Look well what shops there are about and what products sell. Are stores sell clothing or other products? If you are fashionable, do they sell the same type of clothes you want to sell?
- Checks restrictive ordinances in the area. Some streets have restrictions that could affect your business, such as a time limit for trucks unload your goods your suppliers.
- Find out if there is a good area to park nearby for those customers who want to come to your store in your own car.
- Check well the local conditions of the contract before signing it.
Do not worry too much about the size of the premises. A clothing store is not like a gym or beauty center where enough space is needed to place the machines or seats styling.
With a fashion business you must go at any time if you see that increase your customer base .
5. Take an inventory of your clothes and looking for suppliers
Here you must write an inventory of the items that begin to sell. It totally depends on you and how many different items you want to provide your customers.
I advise you to first buy a few units of each product. So maybe you’ll adjust the amount of clothes you buy and you will see what items sell best.
Once you have made your list, you should look for suppliers who buy those items.
You can do this by looking for companies on the Internet and directions to visit them and agree on prices, or go to some form of business association in your city so that they will provide a list of textile suppliers.
When you have that list, follow these tips:
- Think what you want from your provider: You must be clear about what you need to provide. Want to be cheap but the clothing is of lower quality? Or would you rather pay a little more for good quality clothing?
- Make a list of suppliers: when you know what you want, and you have found several vendors that offer what you need, make a list and look for references on each to find out which have reputation.
- Evaluates the list and selects the best: with all that data, selects suppliers that give you a better price and quality garments, and those with the best reputation and conditions for you.
- Make a first small order: when you have decided which provider or providers are with you go to work, make sure your first order is small to check the quality of their products and services. If you like the way you work, keep buying him.
6. Find out about the legal aspects
To open a clothing store, like any other business, you need some special permits and licenses.
It is best to turn to your municipality to find out about legal issues that have to perform and get the necessary permits.
Normally usually you need a permit to open, but if you also going to reform local, have to have a work permit as well.
When starting a business, you must register yourself as a freelancer or self-employed.
7. Do you need to hire employees?
Many small business owners, when they start their businesses, do not hire employees because depending on the type of business, management can solve it themselves.
So if you think about it you can take your store by yourself or single items or need someone to help you.
If you are going to hire someone else, the first thing to make clear is what will you do and what tasks will the other person.
When posting a job, make sure you clearly describe the duties and responsibilities that have that position.
If you need your work have any special skills or qualifications of some sort (e.g. who can drive if you need it), I specify it too.
To set the salary of that person, see what is the average wage for dependents of clothing stores in your area.
Take all the time necessary to interview your candidates and choose the best. Transmutes clearly what you expect from them for the job to have no doubt.
8. Fire up your marketing plan
Not long now to open your store! If you do not want your opening does not go nobody will have to promote your new business days before they open their doors.
Even if you use multiple channels for advertising, “word of mouth” remains the most effective advertising.
Tell everyone you know the opening of your store, you also ask them to tell their friends and co-workers. Make posters and paste them into the areas around your store.
But do not forget the new technologies. It would be good also create a Facebook page and a Twitter account for your business and its promotion.
Ready! You’ve got to open your own clothing store. Now enjoy the experience of being your own boss, and do not forget the importance of customers.