How to Start a Vintage Clothing Business
Many consumers want reasonably priced clothes but also something that does not look mass-produced. Vintage clothing sales allow for flexibility, since the product can be sold either online or in a brick-and-mortar store. Overhead varies, depending on the inventory and store type. As with any type of business, understanding legal requirements and estimating the initial investment is essential. Creating a solid business plan will put you on your way to enjoying healthy profits and an exciting endeavor.
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Instructions
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Decide whether to establish a storefront, operate online, or some combination of the two. Online sales require less overhead, but you still need a place to store inventory. Internet options include online auctions, selling via a pre-packaged storefront in which many functions are carried out using templates, or operating completely on your own website.
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Decide whether you want to specialize in one era or sell vintage clothing from various periods. If you are not already a vintage clothing aficionado, do your homework. Many vintage clothing fans have specific tastes and are often looking for certain hard-to-find items to round out their collections. It is important to be knowledgeable enough to guide them in the right direction or help track down that special piece.
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Create a business plan; it may seem daunting but can be inspiring as well as necessary. Check out industry trends, find an appropriate place for your storefront if applicable, decide which permits you'll need and choose long-term goals for your business. A business plan will also help you obtain a business loan. Find many resources online, including the Small Business Administration's comprehensive website.
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Decide on a business structure. The usual types of businesses are corporations, S corporations, sole proprietorships, limited liability companies and partnerships. The business structure affects income tax filing and legal issues. The Internal Revenue Service website at irs.gov can help you determine which type of entity to choose.
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To buy clothes from most wholesalers, obtain a federal tax ID number, and a sales and use tax number. If you hire an employee, the IRS requires you to apply for an employer identification number. Check with your state's Department of Revenue for information on obtaining a sales and use tax number.
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