Starting a Retail Clothing Business
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Figuring Out What to Sell
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The retail clothing business is one that encompasses a wide range of possibilities. The first decision, of course, is what to carry. Will you sell children's clothing, lingerie or workwear? At what price range do you want to sell?
The best way to come to a decision is during the business planning phase. Before anything starts, a business owner must obtain proper licensing and identifications from federal and state governments, along with proper professional help. Without these, the process of starting a business will quickly turn confusing. A proper business plan will help figure out spending, taxation and possible profits.
Another point to consider is the venue. Will this be an e-commerce operation, or a brick-and-mortar concern? Is warehousing available? Keep in mind that warehoused merchandise costs more than drop-shipped items, and that Internet selling, while cheaper than a storefront, brings other expenses for design and maintenance.
The Buying Process
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Buying sounds like fun, and it can be. However, stocking the store is a process that takes a lot of thought and planning. This is the stage where it's easy to mess up and overspend, potentially leaving excess stock later down the line.
Consult the demographic information from the business plan, then peruse competing stores for ideas on what to sell. Don't forget the impulse purchases like costume jewelry and accessories. This is also the time to visit various showrooms, attend fashion shows and attend trade shows.
Once that's taken care of, purchase the items needed to take care and exhibit the clothing to its best advantage. Hire models for website pictures, and buy merchandising materials to show things in their best light. The buying stage is a great time to hire a fashion buying consultant that can help stock your store correctly.
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I'm Open---Now What?
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Now comes the fun part---selling the merchandise.
In the clothing business, fit is everything. Being that people often mess this up or change their minds, a good return policy is crucial. This is doubly true for website and mail order vending. Offer a 14-to-30-day return policy, and customers will buy more.
The best way to avoid returns is to offer the most complete customer service possible. For a clothing store of moderate to high price range. That may mean hiring associates experienced in tailoring, dressing or fitting. Try to have someone on staff who is well experienced with the central clothing item; this way, your store will create a reputation for having expert help.
Running a successful retail clothing shop takes continual learning, a sharp eye for trends and an obliging nature. These qualities ensure eventual success for your new retail store.
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Resources
- Photo Credit 2007 judgementalist / Creative Commons
