How to Start a Clothing Store in 2021

June 20, 2021

platinum-fashion-How To Find The Ideal Supplier

 

The reality of 2021 has been changed and on pace with that so have the markets in any niche. Similarly, the clothing industry is a hard field and aspiring cloth store owners have to start their journey with a strategy that can set them apart from the competition.

Such a step-by-step strategy is showcased below that can be applied for any beginner in this sector!

Identify your goals

 

platinum-fashion reliability

 

The very first aspect that will make or break your future performance as a new clothing store owner is how clear and specific your ambitions are.

 

Kind of like a business plan but it has to do more with yourself personally.

 

Break down your goals for this new shop:

 

  • How much time do I have to start it?

  • Do I want it to be my main source of income?

  • How do I want the financial goals of the store to be in 5 years?

  • Am I willing to manage a big staff?

 

… and plenty of other questions that you can ask yourself and start the work with a clear sequence in your mind. (Important: make those notes a success plan, meaning that make your goals so that if you accomplish them, you will have a successful store as you want it)

 

In this way, you will be able to prioritize things, make adjustments and optimizations in difficult times and to know how to handle situations on a rainy day.

 

For instance, should you meet a drop in your sales in the future you will get back to these notes… What were my starting goals? Which’s unaccomplishment led to the current problem? What did I say in the beginning will do to accomplish this goal?

 

And in this way you get over the bigger number of bad situations.

 

Budget your Capital

With the similar philosophy, you have to establish in the beginning your available Capital.

Don’t leave things on their own luck and say: “I may find money for this”, ” I will determine later if I make this purchase for the store”…etc

platinum-fashion-originality

Now, in your scratch, write down any potential expense you may have to deal with, concerning your store.

(Without meaning that unpredictable cases will not arise. Just try to be prepared for the most potential expenses)

Then, consider your sources of funding that will create your capital, even though you were thinking about something small without huge capital.

The point is to know what is going on with the money you have and the money you will spend. Keep in mind that also in the future of your store’s operation.

Establish your target audience and your competition

With the above said, we get into the 3rd step of your strategy, establishing your target audience and your competition.

platinum-fashion-customer-needs

Why is identifying your target audience important?

Think of it as a close person of you, like a relative, and someone unknown to you.

Which of them could you treat and persuade better?

I suppose your relative… someone that you know his character, his tensions, his attitude.

So, a key for successful customer traffic is to identify your target audience. This can be executed by categorizing the people your brand’s provisions are more suitable to.

For example, filter them by: Age, financial situation, sex, style.

And by identifying your target audience and adapting your marketing, your sales strategy and your provisions to them you gain ground over your competition.

When you specify in the exact niche in which you will sell (in this case, the target audience) you have an instant advantage, as you can put more effort on mastering in one separate sector!

Find out your wholesale supplier

platinum-fashion-market-knowledge

The supplier is the one who will assure the basic thing, namely the clothes! In the process of this research it is vital you have some criteria in your mind before making the decision and opt for a supplier who meets some basic requirements!

 

  • Originality in the products

Originality ensures your brand’s identity and engages more customers and interests. 

 

  • Market knowledge

Your retail supplying brand should know what sells and what is in interest by the consumers – on a permanent basis, as the preferences are constantly changing. 

 

  • Availability

Suppliers with high availability should be capable of providing fast and helpful customer support in agent moments as well as a system that receives complaints or an inner method of communication for partners 

 

  • Organization – Updates

Suppliers are entrepreneurs and as every entrepreneur, they should be organized, when it comes to their niche and duties.

Pricing structure

The final step of your strategy has to do with the factor that will determine your income, the price of your products.

platinum-fashion-available

 

Obviously, we cannot evaluate the price of each one of your products, however we can provide 3 effective pricing strategies.

1) How to determine the price

The best formula to apply is a formula that says: The price of a product should be double than the wholesale cost and 10% off the average price for the same product of your competition. 

For example, you buy a piece at wholesale price for $10. Your competition offers it at retail for $18. You should offer this product for $16. Make the calculations…

2) A pricing mind trick

On the price tags, you can remove the symbol of the currency! When the buyer sees it, it reminds him that he has to pay and nobody likes to pay. It’s a psychological trick that is proven to have results.

You can try it yourself!

3) Cheap vs. Expensive

In your store you want to have some more pricey pieces but the issue is how to sell them.

The only thing you have to do is to separate the costly products from the cheaper ones. In your store you will make a “section” with the more qualified clothes and in this way you will tell the buyers that here is the high quality where you pay accordingly.

By demonstrating such products among the more affordable ones it is normal that people will decide by their wallet. But, by making clear that here are the next level products which are a bit more pricey the possibilities of purchasing are in favor of you!

Our Latest News

Ο Απόλυτος Οδηγός Για Να Ξεχωρίσετε Στην Βιομηχανία Των Ρούχων

facebookinstagramyoutube  Είστε ιδιοκτήτης καταστήματος; Υπάρχων ιδιοκτήτης που θέλει να βελτιώσει την απόδοση του καταστήματός του; Ή, ιδιοκτήτης καταστημάτων ρούχων που αντιμετωπίζει δυσκολίες; Όποια και αν είναι η κατάστασή σας, με αυτόν τον απλό και ενημερωτικό...

4 Συμβουλές Για Να Αυξήσετε Τις Πωλήσεις Των Ρούχων Σας

facebookinstagramyoutube  Όταν μιλάμε για τη βιομηχανία ρούχων, έχουμε να κάνουμε με μια αγορά με μεγάλη ζήτηση και χρειάζεται να παρέχετε κάτι ιδιαίτερο για να αυξήσετε την αξία σας στην αγορά. Έτσι, περιεργαστήκαμε προσεκτικά την κατάσταση και είμαστε εδώ για να σας...

How to Start a Clothing E-shop in 2021

facebookinstagramyoutube  In 2021, the online industries are some extremely boomed ones, with clothing e-shops being also too competitive. In that field, a certain way to success is a strategy. A proven procession that can lead your actions and give you some basic and...

How To Find The Ideal Supplier

facebookinstagramyoutube  When it comes to shops and clothing stores, suppliers are the individuals who secure the main thing, the products, and they also are persons in common communication with the proprietor. Based on this, we created the ultimate list composed of...

Identify Your Target Fashion Buyers And Control Their Psychology

facebookinstagramyoutube  A vital factor for the success of your clothing store - either physical or digital - is the way you have control over your customers. The main issue is to identify your target customer… to learn who are you selling to… and afterward how to...

Market Your Clothes Shop As A Professional

facebookinstagramyoutube  As far as its marketing is concerned, the clothing industry is highly affected by circumstances and different seasons. In the reality of 2021, there have been developed effective marketing tactics that can skyrocket your traffic and sales....

The Ultimate Guide for Standing Out in the Clothing Market

facebookinstagramyoutube  New shop owner? An existing owner who wants to improve his shop’s performance or a clothes store owner who is facing difficulties? Whatever your situation is, with this simple and informational guide you will discover the secrets that can...

4 Tips To Increase Your Clothing Sales

facebookinstagramyoutube  When it comes to the clothing industry the demand is high and you have to make the difference and offer something special, if you seek to grow your value in the market. So, we examined carefully the situation and we are here to give you 4...

SOUVENIR EXPO GREECE Presences

SOUVENIR EXPO GREECE “Presences”The largest exhibition of tourist items and the largest trade fair in Greece! The exhibition Presences, the largest trade fair in Greece is held at the leading international standard exhibition center Metropolitan Expo. In parallel with...

Spring Summer Collection 2021

Do You Have Questions About How Can You Implement All The Above?

Latest News

4 Συμβουλές Για Να Αυξήσετε Τις Πωλήσεις Των Ρούχων Σας

facebookinstagramyoutube  Όταν μιλάμε για τη βιομηχανία ρούχων, έχουμε να κάνουμε με μια αγορά με μεγάλη ζήτηση και χρειάζεται να παρέχετε κάτι ιδιαίτερο για να αυξήσετε την αξία σας στην αγορά. Έτσι, περιεργαστήκαμε προσεκτικά την κατάσταση και είμαστε εδώ για να σας...

How to Start a Clothing E-shop in 2021

facebookinstagramyoutube  In 2021, the online industries are some extremely boomed ones, with clothing e-shops being also too competitive. In that field, a certain way to success is a strategy. A proven procession that can lead your actions and give you some basic and...

How To Find The Ideal Supplier

facebookinstagramyoutube  When it comes to shops and clothing stores, suppliers are the individuals who secure the main thing, the products, and they also are persons in common communication with the proprietor. Based on this, we created the ultimate list composed of...

en_GBEN