How to Start a Retail or Consignment Clothing Business 1-2-3
Steps to Opening Your Own Retail Clothing Store
- Get some experience. Whether it's merchandising classes, a previous retail store job, volunteer
activities or assisting others in the retail field - the more experience you have when opening your own
retail store, the better.
- Specialize in a niche. Don't try to please everyone. Focus on a specific market and offer
products exclusively for those customers (i.e. tennis apparel, second hand store for kids, Halloween
costumes, etc). Ideally, you want to represent a niche in your local are that is not yet represented. Also
offer a unique advantage that you can offer your customers that other stores don't offer. This will attract
more customers to your store.
- Figure out your start-up costs. Start-up costs vary widely, depending on your store location,
size, types of products, etc. I think a great way to see what your potential start-up costs would be is to
look at what other retail business owners have spent. How do you find this out? You can view several
business plans online for free, and
often they have a financials section, including start-up costs and income projections.
- Decide on a location. Look at several location and local zoning and other regulations that may
apply. Will the location bring in enough foot traffic to cover the rent - and does the area offer future
growth potential? Is there enough floor space and storage for your products and customers and parking space
for shoppers?
- Advertising. While keeping your ads simple, you want them to grab your customers' attention and
provide quality information about your merchandise or store events. Focus on what makes you different from
other stores and give people a reason to come see (and buy from) you.
How to Start a Clothing Store
You have many options in the clothing business: the market you want to reach, the type of clothes you want
to sell and how you sell them. Design a business to match your interests and meet the needs of your specific
clientele.
Part of making your business fun is ensuring
that it will run properly and make money. There are important tasks you must accomplish - and this
business start-up guide will help you accomplish these tasks effectively, while saving you money.
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Business See how you can succeed in the highly-profitable niche of men's clothing. Complete business
plan outline you can follow.
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Antiques can be a lucrative and interesting business. Antique buyers are willing to pay top-dollar for a
hard-to-find, unique item.
- Bridal Shop Business
As long as people continue to get married, weddings will be a booming business. In addition, helping
make someone's "special day" more memorable is very rewarding. No wonder entrepreneurs get into the
wedding service business.
- Discount Store
Business Especially in an economic downturn, discount stores will flourish. Seeking out, finding and
offering bargain items can be fascinating and fun business.
- Fabric Store Business
For craftspeople and entrepreneurs who enjoy sewing, owning a fabic store seems like it would be the
perfect match. You get to share your skills and knowledge with others and constantly be around people
who share your same creative interests.
- Fashion Designer
Business As a fashion designer, you can also open and sell through your own specialty boutique.
Here's how.
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agency, the Small Business Marketing Bible shows you how to attract a steady stream of
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that you can use over and over to increase profits and grow your clothing shop, including:
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customers.
- How to use other people's customers to get new business.
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- 4 techniques for doubing sales - with no additional customers.
- Get it Risk-Free >> Small Business Marketing Bible
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Clothing Business Resources:
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Entrepreneur Profile: Barry Schmell & Joseph Costa
Owners of De La Sole Footwear, San Francisco
www.delasole.com San Francisco's famous Castro District is brimming
with shops and restaurants, art galleries, coffee shops and people. But partners in business and in life,
Barry Schmell and Joe Costa, noticed something was missing: a shoe store. So they set out to change a little
part of their favorite neighborhood.
With over 15 years of retail experience, Costa had longed to start his own business for years. Schmell, a
long-time veteran of the Silicon Valley says, "I did not always want to go into business for myself, but
between the volatility of the High-tech industry and the strong desire of my business partner to start a
business, I decided to do it."
Like most entrepreneurs, Costa and Schmell experienced some nerves about starting their venture. "Our
biggest fear was not knowing what we needed to know. We lacked confidence since neither of us had started a new
business, yet we both knew we could run and manage an existing business," says Costa.
To combat the fear factor, the pair enrolled in a
business start-up course through San Francisco's Renaissance Center. The intensive class lasted several
months and when it was over, the duo had a solid business plan and a new level of confidence. They also
read numerous business books and interviewed other business owners to learn from their experiences.
They relied on the internet for much of their market research but decided they also needed some industry
experience. "We attended the World Shoe Association conference in Las Vegas before we started the business,"
said Costa. "It helped us learn the shoe industry by meeting with vendors and selecting product lines."
To finance the business, they used a home equity loan. "This is the best route since it offers the financial
independence and best industry rates. The downside is the personal liability, but that is true no matter how
you finance the business," says Schmell.
The high price of real estate in San Francisco meant that they would have to make the most of a small retail
space. They embarked on renovations that caused some frustrations along the way. "During construction we
trusted our landlord and designer more than we should have. Next time, we'll get more in writing." Though the
renovations delayed the store opening by several weeks, De La Sole celebrated its "Grand Unlacing" in February
of 2004, an event that was also attended by then San Francisco Mayor Willie Brown.
Though the new business owners received a lot of support from their network of business contacts, not
everyone was enthusiastic about their shoe store ambitions. "My family thought I was crazy since I had come
from the high-paying software industry. Little did they know how volatile that industry has become, says
Schmell. "Our friends were very supportive because they knew what we wanted to accomplish."
Costa runs the store full-time, averaging 50 hours per week and Schmell works two evenings each week while
maintaining his job as a Training Manager in the Silicon Valley. He intends to leave corporate America behind
once the store is able to sustain their family. "Both of us worked evenings and weekends for the first four
months to learn the business and meet our customers," says Schmell. "This has been a great strategy for
us."
To market the business, Costa and Schmell spread their reach across numerous platforms. They met with the
city District Supervisor, Bevan Duffy, who supported the store by attending the grand opening event and
introducing the business owners to valuable contacts in the area. They also launched a website, formed
relationships with community news reporters, and used word of mouth to create a buzz.
Costa says, "We are not advocates of advertising in newspaper or magazine ads. We tried advertising with our
merchant association and nothing came of that. We believe in having a great location for the business, direct
marketing, and utilizing our network."
Even their company tag line reflects their creative
energy: Fashion for Your Sole. The thoughtful marketing strategies have contributed greatly to their
success. Patrons flocked to the store for the one year anniversary event, a catered affair complete with a
service staff. To add to the appeal, they held a raffle that raised over $600 for a local charity.
"We strive to create customer delight and a reputation for great customer service," says Schmell. To add to
their services and revenue streams, De La Sole places special orders for customers and even ships the products
directly to the customer. They also use eBay to sell off close-out merchandise.
Investing in the right technology has proven to be a smart move for the business. "Our point of sale system
allows us to keep a customer database. We ask every single customer if they would like to be on our mailing
list when they make a purchase," says Schmell. As a result, the business already has a contact database in the
thousands that is notified each month via email about new products and sales. They also use the trend reports
provided by their Quick Books software to evaluate the busiest hours in the store and sales trends.
Now past the one year mark, Schmell reports that shoe sales are booming and adds happily, "We are blowing
away our numbers and are totally in the green." One part-time employee helps to give the entrepreneurs some
occasional time off and they plan to cut back their hours in the near future.
Schmell sites a long list of key factors to success: "Learning and reading, planning ahead, staying focused
on our key business and not trying to be everything to everyone, listening to our customers and figuring out
what they want, learning from our vendors, keeping things simple, and being open to other people's suggestions
and ideas."
As for advice for aspiring entrepreneurs, Schmell says, "I think most people are afraid of failure. But what
you really need to be prepared for is success from the start, such as investing in the right tools (technology
and experts) to manage your business correctly from day one."
Though there have been challenges along the way, De La Sole has put down roots in the Castro. The owners are
already talking about a second location and expanding their internet presence. "We try to have fun no matter
what we do," says Costa. This positive attitude is reflected in the success of a business that was well-planned
from the beginning.
About the Author: Stephanie Chandler is the author of "The Business Startup Checklist and
Planning Guide: Seize Your Entrepreneurial Dreams!" and the founder of http://www.BusinessInfoGuide.com, a directory of resources
for entrepreneurs. Subscribe to the newsletter to receive hot small business tips and resources by sending
an email to newsletter@BusinessInfoGuide.com.
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