Opening a clothing store is a very lucrative business idea. To make this business a successful project it is important to know all the details related to investment and operation.
For this reason, in this post we bring you everything you need to know from the project structure, the business model, the expenses and an idea of how much it costs to open a place of this type.
Ideas for setting up a clothing store
There are different ideas of how to set up a clothing store. This will depend on your investment capacity and experience in the area. You can open a multi-brand store for wholesale girl clothes or choose to establish an online store if you do not have the necessary resources to rent a physical space.
Also, you have the possibility of opening a clothing store by joining a low cost clothing franchise already established in the market. This last option is usually one of the favorites for new entrepreneurs. Franchisees are less susceptible to risks of financial loss, and they have the accompaniment of a great brand. In any case, it is important that you manage the information of all the options to make the best decision.
Steps to open a clothing store
Know what you need to open a clothing store and discover the best tips to achieve it successfully:
Know your market
Specializing in a sector is essential to achieve your goals. First, it looks for real statistics on the sex, age, occupation, income level and activities of the inhabitants and the climate of the sector. The customer you must captivate will be determined by the largest population and their needs. Use fashion trends only as added value, remember, the type of customer that comes first.
Create a business plan
The business plan will be your ally in solving different aspects that comprise the start of your business. In this sense, it is vital to establish the type of store you will be, the market to which you belong, the public and the trend in the items for sale. Likewise, you must define your own and financed capital to invest in operating expenses (rent, services, marketing, personnel and advertising).
Look for financing
Establishing a clothing business in a local involves a significant capital investment. If you do not have the resources for the initial investment, it is necessary to request financing. This resource can be obtained through personal loans, credits in private banks or through government credits.
Get a place with a good location
At this point you must choose the place thinking about attracting potential customers, that implies certain requirements. In this sense, the premises must be in a busy area and easy to locate. For a matter of reducing investment risks, it is recommended to rent instead of buying the premises.
Search for suppliers and carry out an inventory of garments
Choosing the right suppliers implies describing the types of garments, models, sizes, quantities and diversity according to your clientele. With this inventory, select suppliers, buy small quantities, so you can evaluate the sales volume of the garment. You will also check the quality of the product and the service of the provider.
Use the web to find the best textile factories
Get location and visit their facilities, compare quality and price. Ask for the list of suppliers in your local textile associations and verify their reputation. Refine the list for best price, quality, and reputation.
Get advice on the legal aspects
Your business must comply with the special permits and licenses established by your city council. Go there to advise you and request the permits required for the type of business you intend to start.
The opening permit is the most common, and if you are going to carry out renovations you must obtain a building permit. Another important legal requirement is registration as a freelance or independent professional.
Identify if you need employees
Evaluate well if for the start of the business, you need employees or on the contrary you can manage it without problems. If you need to look for employees, verify their experience in the area, determine their tasks, and which ones will be in your charge.
To select the employee, publish the job offer, specify the work, responsibility, ability or accreditations that the position requires. The salary must be agreed after knowing the average salary in the clothing businesses in the sector. Calmly interview the candidates for the position, expressing what you need from them.
Make a marketing plan
The opening day is vital to start your business, for this, carry out a promotional campaign through many media. Inform all your contacts, and request its dissemination, this will reproduce the information very effectively. Visually attracting attention is important, create ads and place them in places close to your store.
Tips for Opening a Successful Clothing Store
- Evaluate well the options of store models (multi-brand store, online store or franchise), and choose the most favorable one for you
- Spend time working on your brand and discover the best ways to reach your audience.
- Consolidate good relationships with suppliers and make sure that your merchandise is aesthetic and quality garments
- Study your competition, stay abreast of trends so that your merchandise remains current.
If you are thinking of opening a clothing store and you like the idea of doing it through a franchise, get in touch with us. Top Boutique is a network of integrated sustainable and sustainable low cost fashion clothing stores.