You only need $7,500 to open a Men's Wear Store in NYC?

[WestIndianArchie]

1) The blogosphere is buzzing cause 2 Inch Cuffs is trying to raise 7k

http://www.indiegogo.com/Two-Inch-Cuffs-The-Cuff-Shop

2) The guy @ Brooklyn Circus

"After graduating from the State University at Stony Brook with a degree in history, he studied graphic design at the Fashion Institute of Technology. He worked as a graphic designer by day and club promoter by night. But his high-wattage personality did not lend itself to a desk job, so he scraped together $8,000 and opened his shop. "

http://www.nytimes.com/2011/01/06/fashion/06close.html

Really? That's all it takes? I was thinking more along the lines of 30-50k for a small shop which isn't pocket change.

lemme know
WIA

 

[burningbright]

Though this looks like more of a Streetwear and Denim thread, I'm curious about this too, particularly in this economy. How much would it take to open a SW&D type store with some menswear crossover in today's market? Surely more than $7500, particularly in NYC.

 

[bourbonbasted]

Perhaps this money is the down payment on a loan? I find it very hard to believe that you can stretch $8k far enough to cover the general overhead of starting a B&M store and keeping the lights on (let alone supporting stock and merchandising) for more than a week.

 

[WestIndianArchie]

Not that i'd wear any of the stuff, but BK Circus has some dress shirts, jackets, and trousers.
Two Inch Cuffs looks like a mini J.Press/Gant/Polo wannabe http://twoinchcuffs.com/

So the gap between Bape/Evisu and Brooks Brothers.

 

[stinsonbass]

Interesting thread. Looking at the picture I am thinking that the shop is rather small which leads me to the conclusion that it is low maintenance. I also don't think that he puts a focus on designer furniture for thousands of dollars which make (or at least are supposed to make) the customers happy.

 

[Nicola]

It's already been mentioned by $8K for what?

First and last months rent is going to take up a bit. Inventory will to. If he's new how many supplier are going to give him terms? Licenses? Fixtures? If the shop you rent was something other then a clothing shop you'll need some reno work. Changing rooms. Mounting mirrors. Lighting. What happens when you lose money a few months?

 

[Wes Bourne]

I'm curious: why would anyone donate money to a bunch of strangers online so they can open their shop/e-shop? Wasn't the blogosphere also buzzing about some guys trying to raise funds to launch a print magazine?

Although I assume 7K is only a fraction of their total startup cost, it's surprising that they can't come up with that between the 5 of them. If you can't get a business loan or operating loc, don't you usually turn to friends and family or have they already exhausted that avenue?

 

[burningbright]



I'm curious: why would anyone donate money to a bunch of strangers online so they can open their e-shop? Wasn't the blogosphere also buzzing about some guys trying to raise funds to launch a print magazine?

Although I assume 7K is only a fraction of their total startup cost, it's surprising that they can't come up with that between the 5 of them. If you can't get a business loan or operating loc, don't you usually turn to friends and family or have they already exhausted that avenue?

This.

It's one thing if they're opening a co-op or a vintage re-sale shop or something you can go 501-C3 on, but a fully functioning retail shop? Seems a bit naive. Wonder what their business plan looks like and where the magic money fairies fit into all of it?

 

[stinsonbass]



This.

It's one thing if they're opening a co-op or a vintage re-sale shop or something you can go 501-C3 on, but a fully functioning retail shop? Seems a bit naive. Wonder what their business plan looks like and where the magic money fairies fit into all of it?

It's crazy that his stuff is actually being sold. This is from the article:

He’s making strides. The original Brooklyn Circus store, which opened in Boerum Hill in 2006, has become a must-go for tourists in skinny jeans from places like Seoul, Berlin and Johannesburg.

Since then, he’s opened a second shop in San Francisco; a store-within-a-store at Sir & Madame in Chicago; and a pop-up shop in Stockholm. He also sells to 25 specialty shops in Japan. And the man behind the brand? He has become a recognizable figure on the streets of Brooklyn and has established himself as something of a trend forecaster for advertising and marketing companies looking for what’s next. Mr. Theodore has consulted on campaigns for Hennessy, Toyota and Casio G-Shock, he said. And last spring, he was a featured speaker at the PSFK Conference, a trend-forecasting summit in New York.

Whatever the setting, his message remains the same: open your mind about what youth-oriented black street fashion can be.

 

[Cary Grant]

They're just looking for kickstarter money, sounds like in two areas:

What We Need & What You Get
At the moment, we have a growing staff of the best style tastemakers, product writers, and photographers in the New York metropolitan area all dedicating their time to our cause. But we are lacking in funds to accommodate resourceful web developers and wholesale options. With a web developer, we will be able to design the layout to our e- commerce webshop and connect our customers with the most convenient ways of shopping. In terms of selling stock, we have been to tradeshows such as Capsule, Project, ENK and Compass who deal in wholesale. We are lacking in funds to buy product that might demand a minimum of $1000 on one order. We will be starting out primarily with menswear and a small stock of womenswear products which will grow in months afterwards. As of now, we have five brands in agreement to stocking their products in our shop and the list is subjected to grow in the coming months.

Our goal of $7000 is what we need to get started.

---

With staff, B&M, legal etc they're probably into this for more than $100k minimum if hey are paying for everything (as in Uncle doesn't own the real estate, etc...)

 

[bourbonbasted]



This.

It's one thing if they're opening a co-op or a vintage re-sale shop or something you can go 501-C3 on, but a fully functioning retail shop? Seems a bit naive. Wonder what their business plan looks like and where the magic money fairies fit into all of it?

Doubt it's the case with this dude, as he is from Haiti, but I had a couple friends who started a shirt/clothing line in college. The funds came from... drum-roll please... trust funds!

Especially the case with Prepidemic/Men of Habit, it seems like a lot of the dudes embarking on these ventures are upper class private-schooled white kids. Interesting that you went to Princeton and run a site extolling the virtues and style of old money America as if you truly belong, yet you can't scare up enough personal capital to make your "dream" a reality? Also, spot on in trying to launch print in 2011. I wonder why there are no prospective investors.

 

[Gdot]

For only $5000 you can get them to take you to dinner, give you a style consultation, and give you $500.00 worth of clothing!

What a SSSSSWWWWWEEEEEETTTTTTTT deal!

I'm running for my credit card now.

 

[WestIndianArchie]



Doubt it's the case with this dude, as he is from Haiti, but I had a couple friends who started a shirt/clothing line in college. The funds came from... drum-roll please... trust funds!

As a West Indian, I find this highly amusing.

 

[WestIndianArchie]



They're just looking for kickstarter money, sounds like in two areas:

What We Need & What You Get
At the moment, we have a growing staff of the best style tastemakers, product writers, and photographers in the New York metropolitan area all dedicating their time to our cause. But we are lacking in funds to accommodate resourceful web developers and wholesale options. With a web developer, we will be able to design the layout to our e- commerce webshop and connect our customers with the most convenient ways of shopping. In terms of selling stock, we have been to tradeshows such as Capsule, Project, ENK and Compass who deal in wholesale. We are lacking in funds to buy product that might demand a minimum of $1000 on one order. We will be starting out primarily with menswear and a small stock of womenswear products which will grow in months afterwards. As of now, we have five brands in agreement to stocking their products in our shop and the list is subjected to grow in the coming months.

Our goal of $7000 is what we need to get started.

---

With staff, B&M, legal etc they're probably into this for more than $100k minimum if hey are paying for everything (as in Uncle doesn't own the real estate, etc...)

So you're saying they already have 100K (or some amount close to that) and just need 7 more?
The whole thing sounds confusing.

THEY NEED A PROSPECTUS, THAT WILL SIMPLIFY EVERYTHING!

 

[CharlesAlexander]

It cost more than that to open up an online store...