You will learn everything With this guide. You need to know to open a profitable and exclusive fashion clothing store from the beginning, you have to follow the following methodology that will undoubtedly lead you to success with your clothing business.
Table of Contents
- 1 HOW TO OPEN A PROFITABLE AND SUSTAINABLE FASHION CLOTHING STORE?
- 2 STEP 1. SELECT THE TYPE OF CLOTHING AND THE TARGET MARKET
- 3 STEP 2. HOW MUCH CAPITAL DO YOU HAVE?
- 4 STEP 3. WHAT WILL BE THE SALES “LOCAL OR OFFICE”
- 5 STEP 4. WHERE TO FIND IDEAL SUPPLIERS
- 6 WHY BUY FROM CHINA?
- 7 BUY FROM CHINA OR IMPORT FROM CHINA. WHAT IS THE DIFFERENCE?
- 8 RELIABLE SUPPLIERS. WHERE ARE THEY?
- 9 THE 10 BEST CHINESE STORES TO BUY FASHION CLOTHES
- 10 STEP 5. PRE-SELL OR SELL WITH INVENTORY
- 11 STEP 6. HOW TO INCREASE CUSTOMERS
- 12 STEP 7. HOW TO TURN AN OPPORTUNITY BUSINESS INTO A PROFITABLE COMPANY
- 13 PERSISTENCE
- 14 OBJECTIVITY
- 15 ADMINISTRATION
- 16 VIEW
HOW TO OPEN A PROFITABLE AND SUSTAINABLE FASHION CLOTHING STORE?
One of the large segments of the market that move millions of dollars is textiles and within one of its divisions is clothing. Adult clothing, youth clothing, children’s clothing, fashion clothing, baby clothing, and many other categories complement human needs.
When we take the possibility of entering into the idea of how to start a clothing business, we must take into account several steps to follow before starting so that our clothing business idea can be put on the right track and become a business.
STEP 1. SELECT THE TYPE OF CLOTHING AND THE TARGET MARKET
Many times I meet people who want to invest in a profitable business or idea, be it clothing or any other segment, but with the big problem that they want to sell “a bit of everything,” and they end upending the business by not “adjusting” the investment and efforts to a single part of that great business.
Our first objective is to decide the type of clothing we want to sell (Youth Fashion Clothing for Lady, Sportswear, Children’s Clothing, Office Fashion Clothing, etc.) When deciding our approach, we are also selecting our “type target customer”; This helps us to understand the taste of our “prospect,” as well as their needs, and to place ourselves in “a profile” of the buyer.
Well, and what is all this for? The reality is that this first step helps you make an excellent and clear investment focused on a well-defined objective.
As an example, we can mention that you want to start with Youth Fashion Clothes for Women. This means that your investment will be for that market segment. The client’s ideal type will be girls between 18 to 27/30 years old looking for clothes in fashion. As you will see, with this first step, you already have one step ahead.
STEP 2. HOW MUCH CAPITAL DO YOU HAVE?
This point is very important not only because you need to be very clear about how much you have to start Your Business but also to analyze if you need any additional investment in the medium term or if, on the contrary, you are going to sell with a system of “minimum inventory or samples,” to offer upon request.
Nowadays, it is very common to have physical samples and sell by “order,” claiming that the inventory is exhausted and that the new order is on the way.
Remember that if you plan to set up a store, you must consider the initial investment of the same, rent, services, etc.
STEP 3. WHAT WILL BE THE SALES “LOCAL OR OFFICE”
This is another very important point because it is necessary to be clear, preferably where your sales center will be located.
If you think of a place, it is necessary to locate it in a sector where there is the ease of access for your “target audience.” When I say easy access, I mean that it is on main roads or at least that there is easy access to them and also that there is public transport.
If you can also get it in a commercial area, it will be much better.
If you are one of those who do not want a place or want to start and run your business from home, there are also other forms of sale, such as from your own home.
I have seen many men and women entrepreneurs who sell “and specialize” in products such as office clothing for women, executive clothing for women and men, accessories and accessories, jewelry and fine fantasy, children’s clothing, etc.
This type of business has the positive that you will not have additional expenses since you do not invest in a place. Still, you have to start with your closest acquaintances, “public.”
Some people who work, study, or play sports; turn their peers into their potential buyers. (In fact, I did it for some time selling sportswear in my company, and it went very well).
This way of selling is based on trust and becomes a point in your favor. As they already know you, you do not need to create a whole relationship of trust, and you can shorten the sales process.
You can also take advantage of your friends or colleagues and offer them a discount or commission for new customers.
STEP 4. WHERE TO FIND IDEAL SUPPLIERS
Having clarified the previous points, we focused on looking for “our suppliers.”
We look for manufacturers or distributors either in the Google search engine, a telephone directory or through acquaintances.
This first option does not always generate the best results. For a factory or a distributor to give you a very good price, you must buy a large quantity or a commercial friendship relationship to build trust.
Another alternative that many of us do is look in commercial areas of our city or region where we know or have the idea that there are wholesale distributors or that sell at a price that gives you the possibility of earning a difference.
There is also another way to get suppliers. It is the one that thousands of entrepreneurs and business people are doing today: Buy in China!
WHY BUY FROM CHINA?
Definitely because of the prices and the huge inventory they have. In short, China and the East countries makeup practically half the world in population and are also leaders in prices in the world.
BUY FROM CHINA OR IMPORT FROM CHINA. WHAT IS THE DIFFERENCE?
Although you are importing in both ways, it is a direct purchase system without the need for Customs or Agents intermediation in the first due to the amount (less than 1000/2000 dollars).
You can access a recognized Chinese online store and buy it on your computer. They send everything to the address that you wrote them, and in a matter of days, your purchase will be arriving from China.
RELIABLE SUPPLIERS. WHERE ARE THEY?
The truth is that today the existence and continuity of reliable suppliers can already be verified. Some “Tools” that help to know a little more about the age and the number of people who access the web pages on the internet.
Among them is Alexa.com, an application that offers us data such as the position within the most visited pages.
It also shows us in which countries it is in the specified position. Finally, it shows us from which countries it is most visited.
WITHIN THE CHINESE SUPPLIERS, TWO TYPES STAND OUT:
1 Those who offer their products through B2B platforms such as Alibaba.com, made-in-china.com, etc. To buy from this type of provider, it is ideal to familiarize yourself with the platform you want to access.
Suppose you plan to look for suppliers on Alibaba. In that case, it is ideal that you learn to know and take advantage of the tools they offer to generate trust and seriousness in business.
Sites like Alibaba.com have the specialty of offering wholesale products, and their platform is developed for this purpose. This is not to say that all suppliers are dedicated to selling in bulk.
You can probably find a provider that meets your needs if you know how to search with the tools that Alibaba.com offers you (for example)
2 Wholesale stores that specialize in market segments and niches to offer to the rest of the world. These Chinese online stores can offer you from a headband, a ring, a pair of shoes to a dozen of the reference you need.
Today, they sell millions of dollars worldwide, dispatching to the dispatch address anywhere in the world.
THE 10 BEST CHINESE STORES TO BUY FASHION CLOTHES
Let’s face it, there are not ten the best stores to buy in China since there are many more, but they are the ones that attract me the most, either because of age, seriousness or because I have bought in several of them.
I recommend that you visit them, observe and analyze which of them can serve you for the selected market niche.
1- Fairy Season/fashion clothes. (Very modern and spectacular store with fashionable clothes for men and women)
STEP 5. PRE-SELL OR SELL WITH INVENTORY
As mentioned above, the two most common forms of marketing are based on a presale system and purchasing inventory to have your assortment and inventory on hand.
The presale system also has two “lines or business models.” one is dropshipping, and the other is a presale.
In Dropshipping, you create an online store; you get dropshippers (distributors, sellers, or online stores that sell you the product and send it to the customer who previously made their payment in your store).
In the Dropshipping system, you offer products in your store that has your drop shipper. When your client pays you for the product, you cancel the value to the dropshipper (which must be less to win). You give the delivery address so that the drop shipper can deliver it to your client.
The customer will never know about the dropshipper and will always think that you sent it to them.
The presale system is more straightforward, but you can only access the area to deliver your product, be it your city or your country.
In the presale system, you offer through eBay or Mercadolibre.com, and you write that your inventory is exhausted and that the next order will take between one and two weeks.
In the same way, you can do it with your friends or office or sports colleagues. This is a way of selling with little money and little inventory.
STEP 6. HOW TO INCREASE CUSTOMERS
Getting new clients is one of the most important needs in any business or company since new clients help us grow and motivate us even more.
The simplest way is through our clients, family, friends, and acquaintances, our “natural” market.
Another way is through clients who can become direct sellers or offer referrals in exchange for a commission. This form is widely used, but it depends on how seriously we take these “business allies.”
Similar to the previous way is to get resellers with a commission. Unlike the previous ones, these will look for clients in a more dedicated way and give you the possibility of growing more directly.
The only complicated thing is that you must be up to date in your inventories and be agile in the delivery processes.
Other ways to increase customers are based on advertising, whether you want to publish in a classified system (newspapers, magazines, etc.); or that you want to offer in eBay or Mercadolibre type stores.
To offer through one or more of these systems, you must deduct some value from your profits to pay for these services.
Today, one of the “strategic allies” for finding clients is Google and Facebook (also Pinterest and Instagram). As you may have noticed, almost everyone lives embedded (browsing!) Facebook and has made this social network, Google, Bing, and Yahoo, classify all the people who browse your networks and classify them by age, economic strata, tastes, hobbies, and even purchasing power.
Investing a few euros or dollars in Facebook or Google, creating one or more campaigns will help us multiply our prospects and increase sales.
STEP 7. HOW TO TURN AN OPPORTUNITY BUSINESS INTO A PROFITABLE COMPANY
On many occasions, we have a business opportunity. We do not value it enough or fall before the first obstacle that comes our way.
This means that we do not value the possibility of business that we have in front. We change our gaze to the other side, ending up defeated and without having made a real effort.
I am not saying this by “saying.” I have lived it, and I have lost very good opportunities watching them grow in other hands simply because I did not make the necessary effort to go to the next level.
I do not mention attraction or love towards what you do because I suppose that you already know that you like it and want to move forward when you have chosen this market segment.
Persistence is the focus directed towards a goal. In this case, the goal is to achieve positive results (converted into sales) in a period.
The ideal is not to drop persistence and always generate goals until we see our business generating recurring income.
Sometimes we want to sell a special model or a garment that we like, and although we have offered it in a thousand ways, it is not sold.
The moral is that we must seek and offer what the customer wants. This objectivity must be used in everything that surrounds our business, including prices, suppliers, etc.
I do not know if you have analyzed business experiences within professions such as Athletes, engineers, lawyers, merchants, designers, etc.
Suppose you have had the opportunity to analyze them a little in-depth. In that case, you will have realized that those that have emerged (have prospered), it is because they are good managers, and some have a manager of the assets behind the scenes.
Being a good manager is more important than being the best athlete or engineer. If you do not know how to manage your assets and income, you are in nothing.
Being a good administrator is knowing how to manage your time, health, assets, profession or business, and your own life in general.
When you have fulfilled the above points, new possibilities and opportunities will open up for you. This is where the “Vision” comes in and learns to choose and expand the possibilities that your business or company will offer.
I hope this “little” information helps you set up a profitable and sustainable fashion clothing store. If you liked it or something is missing to say, I await your comments.