How to Open a Clothing Store – 8 Tips to Open Your Store Fast
Opening a clothing store can be a great business idea! You just need to pay attention to a few points before starting, so we’ve listed some tips to get your store up and running fast and ready for success!
1. Business Plan
Planning to open your clothing store involves making a business plan tailored to your reality. Research the market and the competition and draw up a financial plan that includes the amount you have to invest, how much time you need to recover this amount and the profit you can make with your clothing store.
For financial and tax matters consider hiring an accountant. This ensures that it complies with all existing tax and legal obligations.
2. Investment
The amount to invest in your clothing store, contemplated in the business plan, varies according to the size of the space, possible works to be carried out in it, setting up the store and purchasing products.
Entrepreneurs often have their own financing, however, sometimes it is necessary to resort to loans or financiers. Take a good look at bank financing systems and/or lenders’ proposals and choose those that have the greatest advantage.
3. Customer identification
It is important to identify and know the target audience – the customers – well in order to know what their needs are and to offer specific clothes that satisfy them.
Don’t just focus on market trends, but opt for product differentiation, appealing to a particular category. For example, a baby clothing store, a children’s clothing store or a women’s clothing store.
4. Store Name
Choosing clothing store names can be a time-consuming process, but it is critical for customers to understand what kind of store it is. Think of a suitable and catchy name for your new clothing store. Something that stays in your mind and exemplifies what you want to sell. For example, Pequenada – children’s clothing store.
5. Store Location
Choosing the location of the store is extremely important. An easily accessible clothing store, with a suitable area and nearby parking, is well launched to receive its customers. Consider the following points when choosing the location of the clothing store you want to open:
- Rental price according to the stipulated budget;
- Hygiene and safety conditions within legal standards;
- Existing infrastructure – electricity, water, telephone, internet;
- Own or nearby parking (preferably free) and nearby public transport network;
- Give preference to street-level stores for greater visibility;
- In malls, choose stores near the main entrance, escalators or the food court.
6. Suppliers
It is essential to find clothing suppliers for resale with quality products that meet the needs of the type of intended customers. These store clothing suppliers must be credible and able to fulfill the orders placed.
Choose clothing ranges that allow for a comfortable profit margin. In addition to large clothing resale stores, you can find brands online, for example:
7. Qualified Professionals
Competent professionals, with a taste for the clothing market, are what you need to have a successful store! These are some of the characteristics you should look for in professionals to hire:
- Good interpersonal communication;
- Good customer service;
- Bargaining power;
- Ability to listen;
- Agility and organizational capacity.
If you are unsure how and what type of staff to hire you can consult our How to Conduct a Job Interview and Advantages and Disadvantages of Part-time Work.
8. Billing Program
It is extremely important that you have a certified invoicing program that meets your needs and allows you to record and control your sales in seconds. This is the case of Vendus – online invoicing software – which works on Windows, Mac, Linux, Android, IOS, laptop, mobile phone and tablet:
- Fast and no installation required;
- Low cost monthly or annual payment;
- Size and color management;
- Stock management;
- Presentation of statistics and reports;
- Compatible with ticket printers and A4 printers;
- Free updates;
- Support by phone, email and chat.
Discover more articles in our categories Fashion & Looks & Luxe & 90s Outfits.
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