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5 Simple Steps on How to Start a Retail Clothing Business: the Proper Way

Opening up a Clothing store has become a huge trend in the world of business. Entrepreneurs, and the entrepreneur wannabes, have chosen this line of business thinking that starting and maintaining a clothing store is a lot easier than starting and maintaining a food service business or a purified water distributor. But that’s where they are wrong. This particular industry may be easy to start, but it’s a lot harder to maintain than other business.

The industry of clothing is a very competitive world. Almost 80% of retail clothing business fails within the first five years of their businesses. This is primarily because of the owner’s lack of preparation, experience, poor management, lack of competitiveness, and a poor knowledge of what’s hot and what’s not in the world of fashion clothing.

Setting up a retail clothing business is much like any other businesses, it must undergo extensive planning, preparation, and self motivation for the business to grow in success. And this is where most of the entrepreneur and entrepreneur wannabes miss out, which is why failures and bankruptcy is very common in this line of business.

So before starting a retail clothing business such as a clothing store or boutique, you must first plan ahead and get all the necessary things in place before investing half or the whole of your life savings in it. Here are some steps and tips on how to properly start your retail clothing business.

Step 1: Test Your Own Capacity

When I said “Capacity”, I mean is your own ability and skills to handle a business, in which case, retail clothing business.

Now in this line of business Experience can come a very long way. Experience is the baseline for all business starters; it would be a huge waste of money if you’re going to start a business with nothing but your ambition for grandeur. Keeping a positive mindset is very helpful yes, but it won’t get you that far if all that’s all you know. Many of the entrepreneurs I met had failed in their attempts in a retail clothing business because they lack one of the key roles in a business, experience.

Experience plays a vital role in this line of business or any kind of business. Experiences can come from anything from merely lending a hand on a friend’s or family’s business, or from special merchandizing courses that you attended. Whatever it may be, experience in handling any business is very important in starting another.

TIP: If you don’t have the experience that you need, then why not try your hands on having a part time job on local clothing store or take lessons on merchandizing. This way, you could learn how to handle a business, while having hands-on experience on the real deal.

Now in any kind of businesses, Risks are a very common thing. Some risks are small enough for you to even notice it, but some are huge, so big that if you fail, you’re likely to loose all your life’s saving. Now I’m not trying to push you away or anything, it’s just that risks are always there. Starting any kind of business always entails risks.

TIP: It all depends on the mindset; if your mind is set to recognize risks as a challenge then you’ll likely to enjoy taking a lot of risks in your business. Risks “are” a way for business to grow in success if taken strategically and properly.

In taking any businesses, we must always have Faith in ourselves and in the industry we took upon. You must get things straight here. Do you really prefer a business of selling clothes rather than a business that involves food or water? Passion is one of the most important trait that a business man or woman should possess when handling any kind of business. It has to be enough to get you through the yearly holiday rushes as well as the slow summer lulls. If not, then you’ll likely to loose your courage to continue on.

TIP: Remember, taking on a business is like getting married, “for better or for worst”. So before you take on this business, then make sure that you’re committed in this line of business so as to avoid unnecessary bankruptcy.

Being a Specialist in this line of business can make or break the possibility of gaining success in a retail clothing business. For you to handle and maintain your business with ease, it’s very important to know the industry for which you have taken upon. Having knowledge of what’s hot or what’s not, knowing what’s happening behind the stage curtains, and having a keen sense of what will be the next big thing is what making money in this industry. So it’s very important that you have the necessary knowledge in what you sell and what you’re about to sell to your customers.

TIP: You really don’t have to become a specialist just to start a retail clothing business. All you need to do is to do some research about what’s happening in the word of fashion clothing. Ask around, you’ll be surprised on the amount of knowledge that these urban people have about clothes.

Top quality wholesale clothing lines are what Seven Wholesale can provide their customers. Learn more of what Seven Wholesale can provide with their collection of wholesale clothing lines.

Step 2: Choose Your Specialty

Now some of you might think that starting up a clothing store simply means selling clothes. Now that’s where you’re wrong. In this industry, it’s important for you to choose your niche or your specialty.

Before you open your own fashion clothing store or fashion boutique, you may want to think about what “theme” or specialization of clothes you may want to sell. There are a lot, a few examples include: bridal or wedding boutique, business clothing boutique, casual wear / rough gear / street clothes, children’s wear boutique, couture, formal wear boutique, lingerie, maternity store, men’s wear boutique, special size boutiques (petites, plus size, tall, etc.,) sports wear / active wear, teen gear, women’s wear boutique, etc.

Just choose where you want to specialize on. If your business grows, you could turn your niche into a whole-rounder, providing not Just One type of clothing but a multiple one. But until then, you should concentrate on your niche and make it grow.

Top quality wholesale clothing lines are what Seven Wholesale can provide their customers. Learn more of what Seven Wholesale can provide with their collection of wholesale clothinglines.

Step 3: Location

Location in this line of business is very important. Aside from experience in handling a business and knowledge about your line of business, location is the third most important part of a retail clothing business. Now why is the location of your shop very important? Well let’s say that your clothing store can provide the widest variety of clothes, and that you give monster discounts on all your stocks, but the problem about your shop is that customers would have to travel a mile before getting to your shop. Now that’s what I’m talking about, why would the customers bother to travel a mile just to get to your shop if there’s one just a kilometer away from them?

When choosing a location for your store, do your research. Check population statistics, demographics, neighborhood characteristics, traffic counts and area development plans, or seek advice from senior retailers. Here are some simple tips on how to locate a perfect location.

· Find out where your target market or your customers live and shops.

· Find out where your competition is (too many stores can lead to price-cutting, lower profits and difficulty in building customer loyalty).

· Create a distinct image. Make your shop unique from others.

· Make sure that people can see your store from many angles and that they can reach you by public transportation or park nearby.

Think of a location which your target customer already frequents instead of opening a destination store. Taking a high street shop is a good idea if you are planning to sell bridal or party wear, while a shop selling mid range casuals can be located in a normal multi store mall.

Top quality wholesale clothing lines are what Seven Wholesale can provide their customers. Learn more of what Seven Wholesale can provide with their collection of wholesale clothing lines.

Step 4: Supplier

Now once you’ve decided the location and your specialty, then its time for you to think about your list of suppliers who will be supplying you with all your products. Do your research well when deciding on suppliers; because the lower the costs that these people give you, the higher will be the profits that you will be able to make.

TIP: If you’re having hard time finding the right supplier for you, then the internet can provide you with some suppliers you want. A perfect example is with the Seven Wholesale. It is also an online wholesale clothing shop that provides a wide array of clothing stocks that can cater to any niche of your choice.

Top quality wholesale clothing lines are what Seven Wholesale can provide their customers. Learn more of what Seven Wholesale can provide with their collection of wholesale clothing lines.

Step 5: Get Known

If you want your market to know that you’re there, then its time to advertise. Before embarking on your retail clothing business, it’s important to plan out how your target market will know that you exist.

Advertising is one form. It aims to inform, create interest and establish customer confidence. It’s important that you provide the necessary funding for this marketing strategy.

Once you know your budget and target market, figure out the number and type of ads you need. Product ads focus on merchandise; institutional ads focus on your services and store image. There are many ways for your shop to get known. Among those are:

• Direct mail, to send personalized information to those on a mailing list.
• Newspapers, especially local papers, particularly for promoting special events.
• Radio, to reach certain markets, such as country stations for western wear.
• And the internet.

Now all the information you have read are just a few points about how to start a clothing store. While these are necessary basics that you need to consider, the list is by no means complete. So it’s up to you to decide the rest. This will allow you to learn more about yourself and your capability to run a business such as a clothing store business.

Top quality wholesale clothing lines are what Seven Wholesale can provide their customers. Learn more of what Seven Wholesale can provide with their collection of wholesale clothing lines. Visit Seven Wholesale at www.sevenwholesale.com for more details.

About the Author

www.sevenwholesale.com

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