In this article, we will consider the nuances of how to open your own clothing store, what costs will be required for this, and we will give an approximate business plan for a clothing store.
In order to open your own clothing store , you first need to decide for yourself in which direction the store will work, what range of clothes you need to choose and plan a further business development strategy.
Clothing store business plan: main activities
Among the main directions in the sale of clothes, choose the most suitable for yourself and then move in only one direction.
Consider the level of demand for a particular product, as well as the location of your future store (several clothing stores in a row will prevent each other from achieving maximum financial benefits).
Select the current range of products:
- exclusive clothes
- Wedding Dresses,
- baby clothes,
- uniform, overalls,
- several product groups, etc.
Today, the idea of a clothing business occupies one of the main places in the global market.
There is always a demand for the “clothes” group of goods, moreover, it continues to grow every day.
Clothing store business plan: project payback
And although an adequate cost of goods remains a very important point, the margin of the bulk of clothing stores ranges from 50% to 200% or more.
At the maximum margin, your business will pay off in a year or two.
Another advantage is the ability to expand to several points or even an entire chain of stores (if your business is successful). Working with clothes is always pleasant and interesting. There is an entire industry in this business: fashion shows, print media, conferences, and so on.
Clothing store business plan: start-up costs
Despite the high profitability of the business selling women’s clothing, starting such an activity will require not only the preparation of a business plan, but also a lot of financial costs: the purchase of goods, renting a site for a store, advertising, wages to sellers and other costs.
Let’s calculate how much it costs to open a clothing store on average:
- IP registration — 10,000 rubles.
- Rent (first month) — 50,000 rubles.
- Repair (if required) — 30,000 rubles.
- Lighting — 30,000 rubles.
- Commercial equipment, alarm system — 200,000 rubles.
- Certificates — 50,000 rubles.
- Purchase of goods — 300,000 rubles.
- Advertising, signs — 30,000 rubles.
In total, the creation of this business will cost you the minimum — 700,000 rubles.
Clothing store business plan: «pitfalls»
If you want to start your own clothing business, but are afraid to take risks, falling into the «pitfalls», take advantage of franchising.
Franchising is a kind of market relations when one party, for a certain fee, transfers to the other party the right to implement a specific business model using an already developed and tested business plan.
But all this will not leave you without possible risks, namely:
- unpredictability of fashion trends (a product such as clothing needs constant updating of collections and the introduction of a flexible system of discounts and promotions);
- low level of demand (your outlet needs to create an image);
- shortage or overabundance of goods (the fear of «not enough goods» can result in its excessive purchases).
Clothing Store Business Plan: Basic Steps to Implement a Project
Summing up, we list the main steps in the implementation of a business plan for the sale of clothing:
- IP registration,
- supplier selection,
- selection of premises for rent or purchase,
- sale of goods.
Well, it remains only to wish you success in business development!
In order to correctly assess the market opportunities of your clothing store, read the following article .
Clothing store business plan