The steps to start a Retail Clothing Business are outlined in this article along with some points to consider.
Steps to Starting a Retail Clothing Business
- Researching a Retail Clothing Business – See An Inside Look Into the Business You Want To Start.
- Choosing a Location for Your Retail Clothing Business For more, see Choosing The Best Location for Your Business.
- Choose a Name for Your Retail Clothing Business. See How to Choose a Business Name.
- Legalizing Your Business – See  How to Register your Business.
- Create Your Corporate ID – See A Complete Introduction to Corporate Identity Packages.
- Retail Clothing Business Equipment Setup.
- Estimating Your Start-up Cost – See Estimating Start-up Costs: Are you Missing Anything?
- Writing a Retail Clothing Business Plan – See How to Write a Business Plan.
- Set up a Business Bank Account – See, How to Open a Business Bank Account.
- Get the Funding for Your Retail Clothing Business – See Getting a Small Business Loan.
- Software Setup
- Get Your Retail Clothing Business Insured.
- Retail Clothing Business Office Setup – See, Here are Considerations for The Setup of Your Office.
- Setup Your Store Front – This may be a physical store, a website, a warehouse, or a combination.
- Choosing Suppliers for Your Retail Clothing Business – See, How to Choose a Supplier You Can Depend on
- Create an External Support Team – See, Building a Team of Professional Advisors for Your Business
- Hiring Employees – See How and When to Hire a New Employee.
Considerations Before Starting
One of the greatest things about starting a retail clothing business is the number of specialties or niches you can go into.
You most probably don’t want to be “just another clothing store” selling cheap clothes that are indistinguishable from clothes carried at any department store.
To be successful with a retail clothing business in your area, you need to take a look at the community you live in. Is it “down-home rural,” “upscale classic,” full of cute babies and trendy teenagers?
Or, perhaps you want to sell retail clothing that meets a need, such as clothes for older adults, uniforms, or some other type of clothing that is hand-made by local or international seamstresses.
Storefronts can also vary, for example, strip-mall space, a full retail store, a permanent vendor booth at a specific location, a small boutique, or an online-only retail clothing store.
Skill Set:
- Retail sales and marketing
- Merchandising
- Fashion knowledge
- Stock display
- Inventory control
- Money management
- A good eye for color coordination
- Good at matching clothing and Accessories
- Common Business Skills
Employee Considerations:
- Sales associates
- Common Staff Positions Needed To Run Some Businesses
Hours of Operation:
Depending on your location, this business runs according to retail sales hours, such as Monday-Saturday, 10:00 a.m. to 6:00 p.m., if you are located in a mall you may stay open to 10:00 PM
Equipment:
- Acrylic Displays
- Counter-top displays
- Clothing Racks
- Mannequins
- Display cases and counters
- Glass displays
- Grid wall
- Hat racks
- Jewelry displays
- Slat wall
- Shopping bags, tissue paper, and gift boxes
- Price gun
- Tagging gun with tags
- Size rings
- Security mirrors
- Shopping baskets
- Cash register(s)
- Credit card processor
- Retail sales software
- Dressing rooms/mirrors
- Draperies, floor coverings
- Speaker system (music)
- Seating (small couches, chairs)
- Restroom/baby changing area
- Van or truck
- Office Equipment
- General Retail Equipment
Monthly Expenses To Consider:
Licenses:
See Our Page on Licenses and Permits
Approximate Minimum Startup Cost:
Bare essentials – The average startup cost will vary according to your plans, location, inventory, whether you’re starting online or as a storefront location.
Pros and Cons:
The Pros:
- You can be your own boss
- The business is Expandable
- High profits in clothing
The Cons:
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- You may be required to work long hours
- This a risky investment as sales often fluctuates with the economic climate.
- A lot of competition if you don’t discover a way to be different and offer something others don’t.
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- It’s difficult to compete with brand-name retailers like Zara and other top clothing retailers.