Sunday, May 4, 2014

How to Start My Own Clothing Business


Clothing Business
If you have a passion for fashion as well as knowledge and experience in business management, accounting, merchandising and public relations, starting your own clothing store is a creative way to put all of these talents into play. Like any start up business in today's economy, selling apparel is a venture that's not without risks. The good news, however, is that if you fill a niche that's missing from the big box stores and that couples affordability with unique designs and personal service, the clients who love what you have to offer will not only bring repeat business but serve as an excellent source for referrals as well.


Opening a clothing retail store is a serious business. This is one industry that can help you earn a steady income every month with ample scope for advancement. As there are many options in the clothing business, it is important to invest in a clothing retail business that matches your interests and meet the needs of your specific customers. There are important tasks you must accomplish before starting a retail business and this how to guide will help you reach your goal effectively. See Step 1 below to get started.






Step 1

Identify your target demographic as well as the market vendor gap that your competition isn't filling, says Charlene Davis, author of "Start Your Own Clothing Store." Let's say you want to design and sell a custom sportswear line for female basketball players who are taller than 6 feet or perhaps evening gowns for women who are shorter than 4 feet. Because department stores aren't likely to carry off-the-rack merchandise for these two extremes, a clothing business specializing in these sizes would have its own unique clientele.



Step 2

Determine the nature and scope of your clothing business and how you plan to operate it based on your financial resources. If, for example, you plan to sell handknit sweaters that you make yourself, it's probably more practical to strictly be an online entity rather than commit to the high overhead costs of a brick and mortar boutique. If you envision a consignment shop, a used clothing store or a retail facility, you need to take into consideration the space requirements for displays and storage, how you'll acquire your merchandise from designers and wholesalers, and whether you'll need to hire employees to help you.



Step 3

Choose a location that is convenient for your customers and affordable for you. Unless a home-based clothing business is strictly mail order, it's not only subject to your city and county's zoning regulations but requires review of your homeowner's liability insurance if clients are on the premises for consultations and fittings. For a brick and mortar store, you need to consider issues, such as visibility, convenient parking and proximity to public transportation, says James Dion, author of "The Complete Idiot's Guide to Starting and Running a Retail Store." If you have your eye on the neighborhood mall, Davis points out that the square-foot lease in high rent metropolitan areas might not only going to be cost-prohibitive but you will have add-on charges for maintenance, a possible percentage taken of your monthly gross and be restricted from operating during hours outside the mall's norm.



Step 4

Create a detailed business plan that identifies your projected expenses for workspace, utilities, office equipment, telecommunications, insurance, licenses, transportation, payroll and benefits, pricing strategies and advertising. The more comprehensive your plan, the higher likelihood of securing a business startup loan. If you're a minority or female small business owner, you may be eligible for federal financial assistance through the U.S. Office of Small Business Administration.



Step 5

Choose a name for your clothing business. If it hasn't already been taken, commence the paperwork with your state registrar's filing agency. Whether your clothing business is home-based or in an actual store, you'll need to acquire a business license, pay the filing fees and place a doing business as notice in your local newspaper. Open a merchant checking account at whichever commercial bank gives you the best rate.



Step 6

Clothing BusinessDesign a professional website that describes the line of clothing you're selling, lets prospective customers know where the store is located, how to contact you and displays high quality digital images along with sample prices. Use online print services, such as VistaPrint, to design and order business cards, postcards and brochures. Join your local Chamber of Commerce as a way to network with other business owners. Advertise your clothing store in the local media, purchase address lists for residential ZIP codes where household incomes correlate to your pricing, and post fliers in high-traffic areas. Dorothy Finell, author of "The Specialty Shop: How to Create Your Own Unique and Profitable Retail Business," also recommends establishing yourself as an expert through blogs, articles and interviews as well as participating in charity events.





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About the Author

  • Ghostwriter and film consultant Christina Hamlett has written professionally since 1970. Her credits include many books, plays, optioned features, articles and interviews. Publishers include HarperCollins, Michael Wiese Productions, "PLAYS," "Writer's Digest" and "The Writer." She holds a B.A. in communications (emphasis on audience analysis and message design) from California State University, Sacramento. She also travels extensively and is a gourmet chef.


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