How to set up a successful clothing store
For those who want to know how to set up a clothing store, our team made a complete survey of what is needed so that you can have an initial roadmap to be followed and a good vision of the business.
The clothing segment, whether in the physical or virtual world, is one of the fastest growing in Brazil and for those interested in knowing how to set up a clothing store, we have great news: There is still a lot of room to grow, especially if you create a competitive edge that gives a special touch to your business.
At Empreendedores Web, we are always looking for good Business Ideas and the opening of a clothing store could certainly not be missing. So let’s see what it takes to set up this type of business.
Who is your clothing store’s target audience
The first step for anyone who wants to set up a clothing store is to determine the target audience you want to reach, as this will influence a number of other decisions that need to be taken during the process such as choice of stitch, decoration and other items.
Try to better understand your future customers by establishing a profile of them. What is your income level, what gender, habits and preferences. Once this is done, you can already create a consumption and desire profile:
- What kind of clothes does this audience usually wear
- What are your favorite brands
- What is the predominant biotype in the group
- What are your references in terms of clothing
- What are your consumption habits
- Do a little market research, even with the established trade and write down each item, trying to create a clear vision of the challenges that your clothing store will face, in terms of consumers.
What type of clothing will your store sell
If you are interested in knowing how to set up a clothing store, it is good that you are aware that one of the great secrets of this business is to choose a market niche and stay away from competition with the large department stores. Facing this bunch is corporate suicide.
Once your target audience is defined, it’s time to define your product mix, that is, what kind of clothing your store will sell. Try to focus on a certain audience that is profitable and has the purchasing power to purchase clothing in the price range you intend to sell. Do not fall into the temptation to diversify too much, as you may not have the competitive advantage to operate in all sectors, in addition to making it very difficult to manage inventories and purchases.
Choosing the point to open a clothing store
With the target audience defined, it’s time to determine the location of your clothing store. This is a strategic element of your business and the point should be located in an easily accessible place for your audience and preferably, with a good movement of passersby. Another factor to look out for right away is the location of potential competitors in the vicinity.
It is good to visit the point where you are planning to set up a clothing store on different days and times to check the flow of passersby and not have surprises ahead. Don’t forget that this investment is one of the most important when opening a clothing store and therefore, there can be no mistake in your choice.
Right here on our website you can gather some good tips for choosing your commercial location.
Think of the virtual alternative
Another good alternative for those who are thinking of setting up a clothing store is the online market. The fashion e-commerce segment is one of the fastest growing in Brazil, and for that very reason this alternative should not be discarded. Right here on our website we publish a script on How to Build A Fashion E-commerce.
The big advantage of the virtual clothing store in relation to the physical enterprise is that the initial investment is much smaller, which helps a lot in case you are on a tight budget. But make no mistake, a virtual store is not something you can set up for free, and in operational and administrative terms it is the same job as a physical store. Our advice is that you take a good e-commerce course first and then get your hands dirty.
Costs to set up a clothing store
Of course, due to the number of variables involved, it is difficult to arrive at an exact number, but it is possible to estimate the investment for those who want to know how much it costs to set up a clothing store.
Nowadays, without a shadow of a doubt, for those who are going to set up a clothing store, the heaviest investment is precisely in the commercial point, your rent and gloves by the point. The valuation of real estate in Brazil has greatly increased this type of lease and the price varies a lot from city to city. For this reason, we mention the e-commerce option, as the costs of a virtual store are much lower.
Another relevant factor in terms of costs for those interested in setting up a clothing store is the store’s decoration, with the acquisition of displays, mannequins, counters and other types of furniture typical of this commercial segment. The cost in this case is also very difficult to be estimated, in a generic way, depending on the style that you will adopt and also that of your suppliers. Our tip is that you do a good research, even among the advertisers on our website, in order to determine the exact value of this step.
Finally, we have the acquisition cost of the store’s initial inventory and also a good cash provision for working capital, which is mainly needed to pay for purchases through credit cards.
Disclosure of a clothing store
The promotion of your store cannot be left until after it is set up. It is part of your business plan and should be thought of from the start. A tip for those who want to know how to set up a clothing store is precisely to maintain constant marketing actions to always be in your customers’ minds.
As you have already defined your target audience in the planning stage of your clothing store, it is much easier to prepare your marketing project, as you already know the habits and customs of your future customers and what communication channels they are using accustomed to using, if it is more sensitive to social media or print.
It is necessary to identify communication opportunities and which are the most suitable vehicles. Once all this is done, it is necessary to set up a communication plan for the store.
Research a lot before setting up your clothing store
For those who want to know how to open a clothing store, perhaps the best tip is to research thoroughly before taking the first step so as not to suffer disappointment in the future. In addition to this article, another good source of information is the free e-book offered by Sebrae Minas Gerais called Loja de Clothes that can be downloaded clicking here.
In the segment of virtual stores, our indication is with the E-commerce Guide and also the E-commerce Course Blog, both specialized in this segment. In the dissemination area, our reference is the Marketing Academy Blog, specializing in digital marketing.
Always remember that planning and research are the foundation of any business, so any time invested in these phases will be handsomely rewarded in the future. Stay informed on how to set up a clothing store and other materials on entrepreneurship by subscribing to our Informative report.
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