Opening a fashion store is a lot of work. It can help you earn a good stable income every month, and in which you will have many possibilities to expand in the future.
We all know fashion is a business that generates a lot of money in any country. Each year, billions of people add new clothes 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 make a dent in this industry.
However, there are some important steps you must take before opening your doors, and here we are going ro share some tips with you
1. Specialize and look for a specific niche
To be successful in this business, specialization is the key
Before looking for a store, clothing suppliers and even making a budget for your store, you need to know what kind of clothes you will sell. Don’t 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 you don’t make mistakes with the type of store you will open.
With this data you can better choose the type of clothing store you should open: for young women, for teenagers, children, perhaps a sports clothing store, or a store specializing in wedding dresses and wedding dresses.
2. Write your business plan
Do you already have a clear picture of what specialty clothes are you going to sell? Then it’s time to write your business plan to organize any important aspect. This step is vital because it will help you to 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 analyse in your business plan are:
What will be the concept of your store
What will be your market and who your customers
What items will you sell and what will their prices be?
Do you need a get a small business loan?
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 face the initial expenses, then you should get a small business loan
If you do not have a lot of money at the beginning, it is better to replace basic things such as hangers or counters with cheaper ones, although of good quality.
4. 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 few units of each product at the beginning . This way you will better adjust the amount of clothes you buy and you will be able to see which garments sell best.
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.
5. 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 its 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 but dont forget the new technologies. It would be good if you also opened a Facebook page and a Twitter account for your business and its promotion.
RNow enjoy the experience of being your own boss, and do not forget the importance that customers have.