local retail only
Originally Posted by Stazy
What brands would carry, how would you design your space, would you sell women's and men's clothing, and how would you differentiate yourself from everyone else?
Thought it might be interesting to see where this goes. Feel free to discuss any other relevant topics.
carry what no one else has ... this is very important. cater to womens wear first and then move to menswear once established (2-3 years down the road).
the key to success in the clothing business is finding quality lines that nobody else has. promote/advertise in creative ways. pay for advertising in smaller underground local publications (every city has them). once you are open 6 months advertise in larger or main stream local publications.
find the right buyer for your medium. you need to offer your customer a reason to come into your store and spend money. you need to be open to many different styles. instinctively you will only want to carry what you like. if you get in that mind-set shut the door now because you wont be around long.
treat each customer as if your business depends on it. it does not matter if the customer is buying a pair of socks or 4 pairs of shoes. each and every customer needs to feel that you have her/his best interest in making them feel good in clothing that no one else has.
offer specific items you thing your customer will look good in. push them to try new styles. people are creatures of habit ... do them a favor by introducing them to pieces they would not normally consider.
dont not offer latte's or food. its a clothing store.
offer tailor services (very important).
buy real high-end furniture for your store. you only need a few pieces but make sure it is from a real furniture designer.
dont worry about having sales. if you pick the right lines and establish value in each product you have people will not care about buying at a discount.
you need to focus on high-end lines ... do not sell shit.
do not support clothing lines/designers that are produced in china or asian sweat shops.
plan to work 60+ hours a week for at least 6 months and plan to not see any profit for at least 12 months.
pay your sales people a base pay + commission. you are making at least 100% profit so you can afford to pay your help at least 25% of gp.
keep overhead low. do not buy a huge space. carefully selected 600+ sq ft (plus storage space) will be more the enough.
if you do it right it will be fun. if you follow the path of everyone else and do not do the above (at least in part) it will not be fun and you will fold in 18 month (if not sooner).