i would like to open a small clothing shop,what should i watch out for?

Question

I would like to open a small clothing store, preferably have a supplier but what are the common complications? Please advice.

Answer 1

I'd definitely watch for trends in the clothing industry.... right now you want a "small" clothing store....What happens if fads change and everyone wants large or baggy clothes. I think you should not limit the type of clothing you sell.

Answer 2

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Start Your Own Clothing Store (Entrepreneur Magazine's Start Up) by Entrepreneur Press
* Start and Run a Profitable Retail Business by Jim Dion, Ted Topping
* Retail Business Kit for Dummies by Rick Segel
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder
* So You Want To Own The Store: Secrets to Running a Successful Retail Operation by Mort Brown

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

Retailing is a difficult capital intensive and labor intensive industry. You will need a business plan first. your business plan will spell out what inventory you will need to have, what your turn of that merchandise will be, the intitial markup, the planned markdowns, the ad budget, the payroll, the fixed and variable costs, the anticipated sales, and the anticipated annual profit. You will need a site location as well. Remember, that almost all manufacturers require cash in advance until you establish a credit history and a P/L sheet. That will require a lot of upfront cash.

Answer 4

Have you worked in the kind of store you're thinking about? As a manager? Did you ask the owner if she'd be willing to train you to take you on as a partner, maybe open a second store?

These are all safer and higher chance of success than just opening your own store, cold, with no experience.

Good luck,
Scott

Answer 5

Get a lawyer and research your suppliers - talk to people who sell clothing or accessories from this manufactorer. Make sure that the clothing you sell is quality and write into your contract that any damaged clothing may be returned to them.

Answer 6

Making enough money to stay open.

Seriously, there will be more bills than you think. When you have your own business it sems like everyone wants your money.

You also need to make sure that it's in a high foot traffic area, even if it costs more. Trust me. This is key.

Answer 7

before you get into business you need to have your team in place, people who can answer your questions like a legal and business team

http://www.biz.darrenhale.net/

this is used byu 1000's of businesses across the nation to protect and grow their business.

Answer 8

you should out for people trying to take your ideas...as well as where you put your shop...make sure you put it where there will be alot of people....so you get good pay

Answer 9

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