Where to start a store?

[demeis]

I have a question about locations that lack mens shops. I noticed that it seems like a hard business to get in after say the 70's because most of the shops that are still around have a hold on their local market and have been their for sometime. My question is are there any locations that lack a mens shop. A really good one in a location where it can strive? I wasn't abl to find any in the following location that are growing pretty rapidly. I feel as though there may be a shop their.

Raleigh, NC
Phoenix, AZ
Scottsdale, AZ
San Diego, CA
Albuquerque, NM
Anchorage, As
Kansas City, MS
Orlando, FL



So what places lack a good mens shop and should have one?

 

[HalfCanvas]

I think that the most profitable store would be in a place with distinct seasons. So, Kansas City and Raleigh would be the best choices from the list you chose.

 

[ChicagoRon]

My $.02 is that there is a good reason none of those places has a good men's store. The standard business dress in these locations is significantly more casual than others. Nobody wants a lot of high-end suits in Phoenix, Anchorage, or Scottsdale, because they have noplace to wear them. That's also why the men's cloting options in Chicago pale in comparison to NYC, DC, Houston, and Dallas.

I believe there are still places with growth opportunities that already have established stores, but have either a growing or transient population. In these places, you will need to compete on price, exclusivity of offering, and service, but you were planning to be the best anyway, right?

I'd look at

Boca Raton, FL: Lots of $$$$, new snow-birds every year who still do business up north during the summer. Due to avg. age, there are more suit-wearers and also there is more turnover (sorry...sad, but true).

Las Vegas, NV: Growing fast, Lots and Lots of $$$$$$$$ and irresponsible spending. There, you will be rewarded for being overpriced, as long as you can provide services that exceed others. And the demand is near infinite. If they can keep building and filling mega-resorts with thousands of rooms priced over $500 / night, there is capacity for a new high-end men's store.

 

[drizzt3117]

Originally Posted by ChicagoRon

My $.02 is that there is a good reason none of those places has a good men's store. The standard business dress in these locations is significantly more casual than others. Nobody wants a lot of high-end suits in Phoenix, Anchorage, or Scottsdale, because they have noplace to wear them. That's also why the men's cloting options in Chicago pale in comparison to NYC, DC, Houston, and Dallas.

I believe there are still places with growth opportunities that already have established stores, but have either a growing or transient population. In these places, you will need to compete on price, exclusivity of offering, and service, but you were planning to be the best anyway, right?

I'd look at

Boca Raton, FL: Lots of $$$$, new snow-birds every year who still do business up north during the summer. Due to avg. age, there are more suit-wearers and also there is more turnover (sorry...sad, but true).

Las Vegas, NV: Growing fast, Lots and Lots of $$$$$$$$ and irresponsible spending. There, you will be rewarded for being overpriced, as long as you can provide services that exceed others. And the demand is near infinite. If they can keep building and filling mega-resorts with thousands of rooms priced over $500 / night, there is capacity for a new high-end men's store.

The downside to Vegas would be location, you'd have to be on the strip if you want tourists and it would cost a ridiculous amount to build a store there. There is also a number of high end men's stores on the strip already also. I believe one in the Desert Passage sells D'Avenza, Isaia, Canali, Corneliani, and St. Andrews, while there is Brioni in the Wynn, and a nice store that carries Oxxford, Brioni, and a number of Neopolitan brands in the Bellagio.

 

[ChicagoRon]

Originally Posted by drizzt3117

The downside to Vegas would be location, you'd have to be on the strip if you want tourists and it would cost a ridiculous amount to build a store there. There is also a number of high end men's stores on the strip already also. I believe one in the Desert Passage sells D'Avenza, Isaia, Canali, Corneliani, and St. Andrews, while there is Brioni in the Wynn, and a nice store that carries Oxxford, Brioni, and a number of Neopolitan brands in the Bellagio.
Agree...but I'd suggest getting involved in one of the new hotels. Obviously those other stores are able to survive the high rent in the Alladin, Wynn, and Bellagio. What about the new TRUMP? or the replacement for the Stardust? Also, have you considered international? Dubai, Macaw? My bottom line advice is still to follow the money. In some cases, the fact that there is no store in a given market with questionable demand does not make opening a store in that market favorable to competing for business in an established market with strong demand.

 

[bobbyd]

From my experience there are 2 types of "fine" menswear shops.
Example A carries brands like Bill's Khakis, Vineyard Vines, Oxxford, Talbot, Lacoste, etc.
Example B carries brands like Hermes, Versace, Armani, Ferragamo, etc.

Perhaps there are some "superstores" in these flyover places that carry both, but I would question the business model of such and with minor exceptions have not seen much crossover in the finer men's stores I have been to. Personally, I am a fan of Example A.

 

[johnapril]

Carmel, Indiana

 

[Nicesuit]

Ha, for that matter Tulsa, OK. Tulsa is a fashion wasteland in desperate need of an upgrade.

 

[nvclothing]

You would pay a fortune in rent to have a shop in one of the big hotels. Also, I have seen a number of boutiques go in and out of business there. the only one that's help up is scoop in Caesar's forum shops.

you could try the fashion show mall.

Also, Boca is a nice area and definitely lots of money. Not sure I agree with the "more suit buyers" quote from above though.

People that live there won't want to wear suits due to the heat and the snowbirds there probably leave their suits up north and have their Tommy Bahamas down in FLA.

Just my thoughts.

 

[vc2000]

Dubai you have to partner with a local to do anything. You have to go through a government approval process with a local partner. They also grant local franchises - at one point it was questionable whether Versace Hotel was going to be able to sell Versace items in the hotel because someone else had the rights. I don't know the details but I they worked out something. In Dubai labels are very important.

If I were going to open a store I would attempt to build internet retailing to get my name out and sales up. Hansen Clothing does this - they are in a small town in the Midwest so their costs are low and then pass that on to the consumer for greater sales which increases their volume so they get better prices which increases their sales - see the snowball? They are also close to a vacation area (a lake) where there is some money so they get convergence of tourists and homeowners willing to spend. Add in their customer service and they are doing well in what most would predict to be a dying economy/business.

Good luck.

 

[Jared]

I'd look for towns which are increasing their share of regional central offices. People who work at central offices need more upscale clothing, and people will be transferred to the offices which already have a taste for it. Such economic trends tend to snowball, so all of a sudden you could find yourself in a great position. (This idea is based on the fact that Canada's economic capital moves every 50 years or so: Quebec City, Montreal, Toronto, and now Calgary.)

Originally Posted by vc2000

If I were going to open a store I would attempt to build internet retailing to get my name out and sales up. Hansen Clothing does this - they are in a small town in the Midwest so their costs are low and then pass that on to the consumer for greater sales which increases their volume so they get better prices which increases their sales - see the snowball? They are also close to a vacation area (a lake) where there is some money so they get convergence of tourists and homeowners willing to spend. Add in their customer service and they are doing well in what most would predict to be a dying economy/business.
+1 There is so much room for better online service and synergy!

 

[hossoso]

Originally Posted by HalfCanvas

I think that the most profitable store would be in a place with distinct seasons. So, Kansas City and Raleigh would be the best choices from the list you chose.

Not sure exactly what men's market you are going for but Julian's in Chapel Hill (near Raleigh) has been there since 1942. They have quite a devoted following among the men of Raleigh, Durham & Chapel Hill though they definately cater to the trad.

 

[thinman]

Originally Posted by ChicagoRon

My $.02 is that there is a good reason none of those places has a good men's store. The standard business dress in these locations is significantly more casual than others. Nobody wants a lot of high-end suits in Phoenix, Anchorage, or Scottsdale, because they have noplace to wear them.
I was told this is why the RL store in La Jolla doesn't carry Purple Label merchandise. They emphasize "resort wear" because the casual lifestyle in San Diego makes high-end menswear difficult to sell. nicesuit, you just need to travel to OKC. Try Mr. Ooley's in Penn Square Mall for high-end merchandise (Zegna, Brioni, Oxxford) or Allton's in Edmond for more affordable quality (Samuelsohn, Talbott).

 

[gj555]

Originally Posted by Jared

(This idea is based on the fact that Canada's economic capital moves every 50 years or so: Quebec City, Montreal, Toronto, and now Calgary.)

I agree that establishing a business in a growing city where there is an influx of new people and new wealth is a good place to try and establish a business. However...

I don't want to turn this into a political discussion (which would be more appropiate for another forum) or hijack this thread, but I have to disagree that the economic capital of Canada has moved to Calgary. While I appreciate that Alberta is the oil capital of Canada and cities such as Calgary and Edmonton are growing and thriving because of the price of oil, Calgary, while a strong city, is not the economic capital of Canada (the same way Houston is not the economic capital of the US). Tell me how many major banks, insurance companies and other financial institutions have moved or are planning to move their headquarters to Calgary (usually a good indicator of a city's economic prominence)? As an FYI, I am a transplanted Montrealer and hardly a big fan of (and am actually a critic of) the Toronto centric view of Canada. But, to annoint Calgary as the economic center because of its oil and natural gas boom is misleading.

 

[mainy]

Originally Posted by demeis

I have a question about locations that lack mens shops. I noticed that it seems like a hard business to get in after say the 70's because most of the shops that are still around have a hold on their local market and have been their for sometime. My question is are there any locations that lack a mens shop. A really good one in a location where it can strive? I wasn't abl to find any in the following location that are growing pretty rapidly. I feel as though there may be a shop their.

Raleigh, NC
Phoenix, AZ
Scottsdale, AZ
San Diego, CA
Albuquerque, NM
Anchorage, As
Kansas City, MS
Orlando, FL



So what places lack a good mens shop and should have one?


Kansas City has a number of decent to fine menswear stores - Jack Henry, N. Valentino, Halls, Hudson & Jane, Petier's, etc