Starting a Retail Clothing Business

a woman shopping in a clothing store.

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

  1. Researching a Retail Clothing Business – See An Inside Look Into the Business You Want To Start.
  2. Choosing a Location for Your Retail Clothing Business For more, see Choosing The Best Location for Your Business.
  3. Choose a Name for Your Retail Clothing Business. See How to Choose a Business Name.
  4. Legalizing Your Business – See  How to Register your Business.
  5. Create Your Corporate ID – See A Complete Introduction to Corporate Identity Packages.
  6. Retail Clothing Business Equipment – See The Most Recent Google Search Results Related to Retail Clothing Business Equipment.
  7. Estimating Your Start-up Cost – See Estimating Start-up Costs: Are you Missing Anything?
  8. Writing a Retail Clothing Business Plan – See How to Write a Business Plan.
  9. Set up a Business Bank Account – See, How to Open a Business Bank Account.
  10. Get the Funding for Your Retail Clothing Business – See Getting a Small Business Loan.
  11. Software Setup – Check out Google’s Latest Search Results for Software Packages Related to a Retail Clothing Business.
  12. Get Your Retail Clothing Business Insured – See the latest Google Search Results for Retail Clothing Business Insurance.
  13. Retail Clothing Business Office Setup – See, Here are Considerations for The Setup of Your Office.
  14. Setup Your Store Front – This may be a physical store, a website, a warehouse, or a combination.
  15. Choosing Suppliers for Your Retail Clothing Business – See, How to Choose a Supplier You Can Depend on
  16. Create an External Support Team – See, Building a Team of Professional Advisors for Your Business
  17. 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:

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:

Common Monthly Expenses

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:

    • 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.

Resources

In the next section, you will find a few resources that can be helpful during the start-up phase and once your business has been established.

Businesses For Sale

Before you start your own retail clothing business, consider buying an existing business.

There are both pros and cons. Among the pros are that the business is already up and running, you begin earning revenue the day you take over, and you know whether the business is successful.

Buying an established business, on the other hand, is usually more expensive. Making drastic changes could harm operations. So see, Buy a business or build one from scratch for more. See the latest Google Search results for retail clothing businesses for sale.

Publications

Knowing more about your retail clothing business before you start will help you make better decisions. When you know a lot about a business, you have the knowledge to expand it and make it successful.

You just have to find and use the information. The link to a Google search result includes a variety of publications related to a retail clothing business, making it easier to find. Using the information is up to you. To see the latest and most popular publications, I recommend visiting the link once a week or at least once a month. Click here for the latest publications related to a retail clothing business.

Trends and Statistics

Taking a look at industry trends and statistics related to the retail clothing industry can provide you with valuable tips. Click Here for the Latest Google Search Results Related to Trends in the Retail Clothing Industry.

Industry Terminology

Knowing your industry is important for business owners. You can wait for experience to teach you the terminology or you can look at the glossaries to get a head start. Search Results Related to Terminology in the Retail Clothing Industry.

Associations

It can be beneficial to join an association. Many offer publications and news that can be useful. You can also attend events organized by these organizations to network with others in the industry.

Click Here To View Associations Related to the Retail Clothing Industry. You may also want to check out our page for tips and insights about Joining a Trade Association.

Top Retail Clothing Businesses

When you study other businesses, you can learn what the market offers, along with pricing and other ideas. You may come up with a unique idea or discover something you’re lacking in your business. Search Google for the Top Retail Clothing Business in Your Area.

Marketing Tips

Running a business involves marketing. By trying one marketing technique at a time, testing, and focusing on what works, you can market your own business more effectively. Have a Look at the Latest Articles for Marketing a Retail Clothing Business.

Books

Books are another source of information you can use to learn more about your industry. View the Most Recent Google Search Results for books related to Retail Clothing.

News

Using Google News is an excellent way to find stories covered by the media related to retail clothing. See Google’s News Search Results Related to the Retail Clothing Industry.

Videos on YouTube

YouTube is an excellent source of information where you can find videos to expand your knowledge in your industry. See the Most Recent Videos Related to a Retail Clothing Business.

For More Business Ideas, See Our Start-up Ideas Section.