Opening a clothing store is a serious business. This is an industry that can help you earn a good stable income each month, and in which you will have many possibilities to expand in the future. Fashion is a business that generates a lot of money in any country.
Each year, billions of people add new garments to their wardrobes and, although there is competition as in other sectors, there are so many types of stores that it will not be difficult for you to gain a foothold in this industry.
- 1 Specialize and look for a specific market
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 clothing store you will sell. Do not try to focus on the different trends that now exist in the market.
You can do this by focusing on the type of client you want to attract. The idea is that you prepare a market study to know what types of customers exist in your area and so as not to be wrong with the type of store you will open.
Write your business plan
Do you already have a clear picture of what clothing specialty you are going to sell? Then it’s time to write your business plan to organize an important aspect.
This step is vital because it will help you detect any problems that may occur in your business and help you ensure the success of your clothing store.
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 face the initial expenses and do not want to ask for a loan, I recommend that you start by opening an online store instead of a local one. But if you really want to open a physical store, you’ll have to find the money to do it.
There are many ways to get it: with your own savings, borrowing money from your friends, relatives, or with a loan from your bank, or requesting aid that your government can offer for small entrepreneurs.
Find a place in a suitable area for your customers
Now that you have your budget created and maybe you have already asked for a loan to start your business, it’s time to find a good place that attracts all the possible clients.
Depending on the money you have earned, you can choose to buy the premises or rent it. Based on the experiences of the entrepreneurs I have interviewed, my recommendation is that when you open a business, whatever type it is, you rent it, never buy it.
Take an inventory of your clothes and look for suppliers
Here you will have to write an inventory of the clothes that you will start selling. This is totally up to you and how many different items you want to provide to your customers.
I advise you to buy a few units of each product at the beginning. This way you will better adjust the number of clothes you buy and you will be able to see which items sell better. Once you have made your list, you should look for suppliers to buy those items.
You can do this by looking for companies on the Internet and their addresses to visit them and agree on prices or go to some type of merchants association in your city so that they can provide you with a list of textile suppliers.
Learn about the legal aspects
To open a clothing store, as in any other business, you will need special permits and licenses.The best thing is that you go to your town hall to inform yourself of the legal aspects that you will have to carry out and request the necessary permits.
Do you need to hire employees?
Many owners of small businesses, when they start their ventures, do not hire employees because depending on the type of company, they can solve the administration of the same by themselves.
So think carefully if you are going to be able to carry your clothing store by yourself or alone, or if you will need someone to help you.
Start your marketing plan
It’s almost time to open your store! If you do not want anyone to come to your inauguration, you will have to promote your new business days before you open your doors.
Even if you use several channels to advertise yourself, word of mouth is still the best advertising tool. Tell everyone who knows the opening date of your store, ask them to tell their friends and co-workers as well. Make posters and stick them in the areas around your store.
However, there are some important steps you must take before opening your doors, and here I am going to show you the 8 steps necessary to open your own clothing store and be successful.