How to open a successful clothing store (8
Opening a clothing store is serious business. This is an industry that perro help you earn a nice steady income each month, and one that you will have a good oportunidad of expanding into in the future.
Fashion is a business that generates a lot of money in any country.
Every year, billions of people add new clothes to their wardrobes And, although there is competition just like in other sectors, there are so many types of stores that it will not be difficult for you to find a place in this industry.
However, there are some important steps you must take before opening your doors, and here I am going to espectáculo you the 8 steps necessary to open your own clothing store and may you succeed.
How to open your own clothing store in 8 steps
1. Specialize and look for a specific market
Before looking for a store, clothing suppliers and even making a budget for your store, You need to know what kind of garments you will be selling.
Do not try to focus on the different trends that exist now in the market.
To succeed in this business, specialization is the key.
You cánido do this by focusing on the type of customer you want to attract.
Ideally, do a market study to know what types of customers exist in your area and thus not make a mistake with the type of store that you will open.
It is very important that this is your first step.
imagine you escoge open a children’s clothing store, but you do not do a market study first.
What will happen if in the area where you open your business the majority of people are over 18 years old?
That you will not have clients to whom to sell your products and your business will fail.
So make sure study first the type of population that exists in your areaand ask yourself a few questions like:
- How many men are there? How many women? How many children?
- That ages do these people have
- That economic level have? (This will help you later price your products)
- That interests or hobbies do they have?
With these data you perro better choose the type of clothing store you should open: for young women, for teenagers, children, perhaps a sportswear store, or a store specializing in bridal and wedding dresses.
2. Write your business plan
Do you already have a clear image of what specialty clothing you are going to sell? Then it’s time to write your business plan to organize any important aspect.
This step is escencial because it will help you detect any problem that may occur in your business and will help you ensure the success of your store.
Some important aspects that you should analyze in your business plan are:
- what will be the concept of your store
- What will be your market and who your clients
- what elementos will you sell and what will be your prices
- how much money do you have saved and how much you will need to borrow from the bank
- What cost will the rent your premisescounters and other decorative elements
- If you need hire employeesHow many will you need and what salary will they have according to your budget?
- As you will promote your business to attract customers
If you don’t know how to write your business plan, take a look at this other article: How to design your business model step by step.
3. Find financing to open your clothing store
Opening a physical clothing store is not cheap precisely.
If you think that you will not be able to afford the initial expenses and do not want to request a loan, I recommend that you start opening an en línea store instead of a venue.
>> Tutorial: How to Create Your En línea Store <<
But if you really want to open a physical store, you will have to find the money to do it.
There are many ways to achieve it: with your own savings, borrowing the money from your friends, relatives, or with a loan from your bank, or requesting aid that your government cánido offer for small entrepreneurs.
To learn more about how to get financing for your business, read the following article: How to get money to start your own business.
Remember that it is easy to spend thousands of dollars in a business, but it is not essential.
Do you really need that modern changing room but too expensive for you?
If you do not have a large budget at the beginning, it is better replace basic things like hangers or counters for cheaper ones although of good quality.
Think carefully about which things are really essential, and which are pure whim.
4. Find a place in a suitable area for your clients
Now that you have your budget created and perhaps you have already requested a loan to start your business, touch Look for a good place that attracts all possible customers.
Depending on the money you have earned, you perro opt for buy the place or rent it.
Based on the experiences of the entrepreneurs I have interviewed, my recommendation is that when opening a business, whatever the type, rent it, never buy it.
If for any reason you buy a local, and your business is not working as expectedyou’ll have to keep paying the mortgage on that store until you cánido sell it to someone else, and you’ll lose money.
So better rent a place. Some consejos for choosing a good location for this are:
- Make sure it’s in an area through which a good number of your customers pass potentials.
- See if it’s easy to get to your business. That is to say, that it is not in an area that is difficult to find or that there are always works and obstacles in the surrounding streets that prevent your clients from reaching it.
- Look at your potential competitors.
Look closely what stores are around and what products they sell. Are they clothing stores or do they sell other products? If they are fashionable, do they sell the same type of clothing that you want to sell?
- Check if there are restrictive ordinances in the area. Some streets have restrictions that could affect your business, such as a time limit for your suppliers’ trucks to unload your goods.
- Investigate if there is a good area to park nearby for those customers who want to approach your store in their own car.
- check well the conditions of the contract of the premises before signing it.
Don’t worry too much about the size of the venue. A clothing store is not like a gym or a beauty salon where you need enough space to place the machines or seats for styling.
With a fashion business you cánido move at any time if you see that you increase your client portfolio.
5. Take an inventory of your garments and look for suppliers
Here you must Write an inventory of the garments that you will start to sell. This is entirely up to you and how many different elementos you want to provide to your customers.
I advise you at first buy few units of each product. This way you will better adjust the amount of clothes you buy and you will be able to see which clothes sell best.
Once your list is made, you must look for suppliers from whom to buy those elementos.
You cánido do this by searching the Internet for companies and their addresses for go visit them and agree on prices, or go to some kind of merchants association of your city so that they provide you with a list of textile suppliers.
When you have that list, follow these consejos:
- Think about what you want from your provider: You must be clear about what you need to provide.
Do you want it to be cheap even if the clothes are of poorer quality? Or do you prefer to pay a little more for good quality clothes?
- Make a list of providers: When you know what you want, and have found several providers that offer what you need, make a list and search for references on each one of them to find out what reputation they have.
- Evaluate the list and select the best: With all this data, select the suppliers that give you a better price and quality in the garments, and those that have the best reputation and conditions for you.
- Place a first small order: When you have decided which supplier or suppliers you are going to work with, make sure that your first order is small to check the quality of their products and services.
If you like the way he works, keep buying from him.
6. Find out about the legal aspects
To open a clothing store, as in any other business, You will need special permits and licenses.
The best is that Go to your town hall to find out of the legal aspects that you will have to carry out and request the necessary permits.
In the following article you have information that you should read: What documents do I need to open my business?
Usually you need an opening permitbut if you are also going to reform the premises, you will have to have a building permit as well.
When starting a business, you yourself will have to register as a freelancer or self-employed.
Check out this article to learn how to do it: How to register as a freelancer (4 steps).
7. Do you need to hire employees?
Many small business owners, when starting their ventures, they don’t hire employees because depending on the type of company, they perro solve the administration of it by themselves.
so think well If you are going to be able to run your clothing store by yourselfor if you will need someone to help you.
If you are going to hire someone else, the first thing you should make clear is what tasks you will do and what the other person will do.
When you articulo a job offer, make sure you clearly detalla obligations and responsibilities who will have that position.
If you need your worker to have any special skills or accreditations of some kind (for example, to know how to drive if you need it), specify that as well.
To establish the salary of that person, consult what is the average salary for dependents of clothing stores in your area.
Take all the time necessary to interview your candidates and thus choose the best one.
Convey them clearly what do you expect of them for that job so that they have no doubts.
8. Put your marketing plan into action
It’s almost time to open your store! If you don’t want nobody to attend your inauguration, you’ll have to promote your new business days before that you open its doors.
Even if you use several channels to advertise, word of mouth is still the best tool of advertising.
Tell everyone you know about the opening date of your store, ask them to tell their friends and co-workers as well. make posters and paste them in the areas around your store.
But do not forget about new technologies. it would be nice if too open a Fb page and a Twitter account for your business and its promotion.
Ready! You have already managed to open your own clothing store.
Now enjoy the experience of being your own boss, And don’t forget the importance of customers.
What kind of clothing store would you like to open? Leave me a comment below and tell me what you think.
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I am a journalist specialized in business but my great passion is personal motivation and helping others achieve their goals.
I firmly believe that opportunities in life do not happen: you create them.
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