Fashion Entrepreneurship Retail Business Planning

Fashion Entrepreneurship Retail Business Planning-77
In fact, most retail stores, and that includes apparel stores, are small, both in size and in sales volume, compared to a Gap or Old Navy.

In fact, most retail stores, and that includes apparel stores, are small, both in size and in sales volume, compared to a Gap or Old Navy.

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"And when everything begins to look alike, consumers can become disenchanted.

In addition, people just don't have as much time to shop today, and when they do, they want to go into a store and be serviced properly. If you can even find someone to help you in most department stores, you're lucky.

"Nothing is sure-fire, and there are risks attached to starting any kind of business," says Fred Derring, president and owner of D. Even in the restaurant business--if you're successful--you can make more money in five years than you can in 15 years in the apparel business." 3. On a serious note, you really need to think about why you've decided to open an apparel store vs. But there always seems to be room for more, particularly if you're offering consumers something they feel they're lacking. Maybe it's surf clothes; maybe it's chic plus-size fashions; maybe it's leather and jewelry imported from Turkey. Outfitters in New York City, says, "No apparel store should be stocking twill khaki shorts if there's a Gap within 10 miles." 6. In a word, this is called "marketing." For now, hear this collective quote culled from every apparel entrepreneur interviewed for this business guide: "Today the competition isn't two doors down the block; it's at the local mall.

a homeopathic pharmacy or an organic grocery store. Specializing, or finding your niche in this business, is crucial to your success. People can get everything we sell at their local mall, so we have to set ourselves apart other ways.

Every expert we spoke with agreed that the very first thing a prospective women's apparel retailer must do is decide where the "market-vendor" gaps are.

In other words, which customers in the store's trading area will you serve, and what apparel can you provide (and at what price) that can't be found easily elsewhere?

As we've said, if given the choice, most men would rather throw a bridal shower than shop for a new sportcoat.

The only good thing about the casual dress trend, however, is that because of the trend, men seem more willing to be dragged into a clothing store.

If you're in a more flashy nouveau riche area where mothers are driving Jaguars and wearing diamond tennis bracelets, or even one where the women spend 0 on their own designer jeans, that's a market for children's fashionable boutique clothing.

Stat Fact The bulk of children's clothing sales--up to 60 percent--comes from those cute matching outfits, like matching top-and-bottom coordinates.


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