What do I need to know before opening up my clothing store?
I want to start a clothing brand/store, but I need to know where to start and what steps to take to ensure my business starts smoothly and efficiently.
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Oct 20, 2018
Kason, how are you?
First, you must understand what niche of this market you are looking for because, in the clothing segment, there are several competitors, brands, etc. already in place, and you will face an extremely competitive and very unregulated market.
You can follow two lines: Physical or online store.
- If choose the physical store, research the market before, competitors, brands, target public, prices and mainly local.
- If you are an online store, you have to worry more about how to advertise your store, how to have a differential and the logistics, this last part is fundamental.
In either situation, remember that clothes are time-related and styles, so inventory is a very important point:
1) Prevent the demand: Have the right products for your audience, at the right time of the year.
2) Can be your ruin: if you do not sell you will have to make promotions because you need to have space for your inventory, and this can be no-profitable action.
In spite of being poorly regulated, you will have to meet some mandatory conditions of etiquette/label: how to wear, how to wash, maintenance, etc. of each country and each state, depending on where you open your business, for both physical and virtual. This applies to the packaging too, depending on your segment the packaging is so relevant as important as the product.
Do not forget to make your business, marketing and communication plan. Review the same every 3 months at least and make adjustments.
Well, that's it... good luck and anything, we're here.