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Starting a small business is one of the most difficult things a person can do, but it can also be the most rewarding. If your dream is to open your own clothing store, you'll have to be prepared to work hard and make sacrifices in order to improve your chances of success. Opening a clothing store requires a lot of thought, many decisions and a strong business plan to help focus your efforts. Here is a guide on how to start a clothing store.
Research the clothing business and gain experience in the industry. You'll need to learn the basics about clothing suppliers and designers, as well as gaining a general understanding of how the business works and what to look out for. The ideal way to do this is as an employee or intern of a clothing store, supplier or design team.
Decide which kind of store you'd like to open. Evaluate whether you'd like to sell women's, men's or kid's clothing, and whether the clothes you sell will be new or vintage. Finally, decide whether you'll buy your clothing from designers and clothing manufacturers or whether you'll design, make and sell your own designs.
Find a retail space. You'll need to buy or lease a store where you can sell your clothing. Find an area where the right traffic will have access to your store. If you are planning to sell high-end clothing, make sure that the area will support the prices you plan to charge.
Write your business plan. You can get free business plan templates online and with most word processing programs. It's very important to have your business plan on paper so that you can see any areas of your plan that may need work (see Resources below).
Secure financing. If you plan to borrow money to fund your business, you'll need to present your business plan to banks or small business associations. Many people also use loans from family and friends to get their business off the ground. No matter which option you choose, make sure you have more than enough money before starting your business.
Produce or purchase your inventory. Whether you decide to buy your clothing from designers or you make your own clothes, now is the time to develop a large enough inventory to fill your store.
Take care of the legal stuff. You'll have to incorporate your business, if that's your chosen business format, as well as creating tax accounts and filing for business licenses with your local government. Set up any applicable insurance during this time too. You may want to consult a lawyer during this tricky time of business formation.
Open your doors. Stock your store with your newly purchased or designed inventory and open for business. Tell your friends and family to spread the word, and advertise your clothing store via radio or newspaper. You can even hold events at your store, or sponsor local events or causes to draw attention to your new business and bring in customers.
read more: http://www.ehow.com/how_4473558_start-clothing-store.html
Tags: Clothing Suppliers Clothing Suppliers