Instructions
Things You'll Need
·
Computer
·
Phone
·
Camera
1.
Find
Your Market
o
1
Determine if you will sell new or gently used
clothes.
o
2
Decide what methods you will use to sell the
clothes. Will it be through an e-commerce site or online auction? Do you plan
to open a storefront, or will you do flea markets or seasonal consignment
sales?
o
3
Isolate a niche. Maureen Kendall of Little Ruler
has had success with skateboard-style clothing for kids up to 6 years old (see
References).
2.
Buying
Clothes
o
1
Contact children's clothing vendors. Do an
Internet search to find the company that makes the clothing lines you would
like to sell. Find the company's contact information. The company may sell
directly to you or refer you to a distributor that may sell multiple brands.
o
2
Check into the option of drop shipping if you
will operate an online store. The shipper will keep the merchandise in its
warehouse until you sell it, then pack and ship the product directly to the
customer on your behalf. This eliminates the need for you to stock an
inventory.
o
3
Go to trade shows or visit a merchandise mart to
buy clothes.
o
4
Take clothes on consignment from parents whose
children have outgrown them. Sell them, pay the parent a commission and keep
the profits.
o
5
Buy marked-down children's clothes from clearance
sales at major retail stores or purchase a wholesale lot of children's clothes
from an online auction site. Sell them online or in a brick-and-mortar shop.
3.
Setting
Up Shop
o
1
Consider setting up a store in an area that
parents frequent, for example, near a large retail store that sells similar or
related products. That store's marketing and promotion will get shoppers to
notice your store.
o
2
Take photographs of the clothes you plan to sell
online. Post them to your auction or website. Include the size and a short
description of the clothes in the title.
o
3
Take part in a seasonal children's consignment
sale. Organizers provide retail space and marketing. You sell goods there and
pay the organizers a percentage of your earnings.
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Tips & Warnings
·
Visit successful
children's shops in your area and notice how many lines they sell and their
price points. This gives you an indication of what parents will pay for
children's clothes. Select clothing items that fall in a similar price point.
·
Add toys and books to
your inventory to create one-stop shopping.
·
Do not add too many
different clothing lines. This can complicate the buying process for some
parents.
Read more: How to Become a Dealer of Kids' Clothing | eHow.com http://www.ehow.com/how_6820582_become-dealer-kids_-clothing.html#ixzz1mB2EV1gY
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But
who isn’t? Everybody is into fashion. It is the individual taste in fashion
that differs from person to person. Anywhere you go, fashion clothing stores
are always making brisk business. That is also precisely the reason why a
fashion clothing store needs to have an edge over its competitions. There are
just too many fashion clothing stores out there.
Most
successful fashion clothing stores have a few things in common: competitive
prices, a great selection of clothes and accessories, attractive packaging
(marketing) and yes, a catchy name / brand / tag. Thinking of a name for your
business is a tricky endeavor. You obviously want your patrons to remember your
store, but you also want them to associate the name of the store with your
merchandise.
Before
you open your own fashion clothing store or fashion boutique, you may want to
think about what “theme” or specialization of clothes you may want to sell.
There are a lot, a few examples include: bridal or wedding boutique, business
clothing boutique, casual wear / rough gear / street clothes, children’s wear
boutique, couture, formal wear boutique, lingerie, maternity store, men’s wear
boutique, special size boutiques (petites, plus size, tall, etc.,) sports wear
/ active wear, teen gear, women’s wear boutique, etc.
You
may also want to consider if you want to sell accessories, hats, belts and
shoes in your fashion clothing store. Because you are the owner of the store,
your creative prowess will constantly be challenged when you present the public
your wares. Attention to detail in window presentation, store lighting, rack
displays and even that touch of personal service will all come into account
when you open your fashion clothing store.
There
are two kinds of fashion clothing stores: retail fashion store and fashion
boutique.
Retail
fashion specializes in selling new clothing products created by fashion
designers which may (or may not) be dictated by celebrity trends. Some retail
fashion stores have gone to such specialized extent that they only offer the
works of their in-house designers. Others have a number of brand names and
designer names offered in one roof.
Fashion
boutiques, on the other hand, are more (for lack of a better term) chic or
upscale. Personalized service, cozy ambience and unique merchandise are offered
here – and patrons of such places usually expect nothing less.
Another
huge factor about launching your own fashion clothing store is your business
location. Malls are popular places for such stores, but they do come with steep
rents, and a lot of competition. Stores that sell outside such establishments
may have less overhead expenses but may also have less foot traffic. Your
prospective market may also be an important element in choosing your business
location. For example, teens frequent malls, and thereby is a great place to
sell your line of teen wear and accessories. Couture clothing lines or vintage
couture may not fare as well in the mall, but rather in some cozy niche in a
chic part of town.
Pricing
is important, as with the quality of the merchandise. Some clothing stores
manage to pull off slightly higher pricing from its peers, but only because
they have already established their brand names in the market. Since you are
only starting or launching this business, you may want to refer to popular
prices among your competitors. The quality of your merchandise should also be a
great concern to you. Nothing will lose you more customers faster than poorly
made clothes passed off as “fashionable” wear with very dear price tags.
Customer
service is also a factor in most shops. Chic boutiques make this a top
priority, even offering coffee or tea to its patrons. However, if you prefer a
retail fashion store set-up, remember to keep a friendly atmosphere in your
shop. It will encourage your potential customers to ask for your advice on fashion
trends, or gift suggestions and even a whole fashion ensemble – which may mark
you a returning customer or greater sales.
Another
matter to consider is the safety of your store and merchandise. If you notice
most, if not all fashion clothing stores have security measures against theft
and break-ins. Some of them may go as sophisticated as a 24 hour video
surveillance system. Others rely on tag systems. Check your budget first or
your overhead expenditure rates as to what kind of security measures you may
need and / or afford.
Opening a Baby Product or Maternity Store
Small Business Tips for Start-up Retailers in the Juvenile &
Pregnancy Product Industry
Let me state at the very outset that unless you
have extensive retail experience, it will take you 12 to 18 months of planning
and execution before you will be opening your doors to the public with a sign
that says "Open For Business".
Store Character
The first step in setting up a store is to
define the "character" of the store. This is a tougher proposition
than it seems. To help you in determining the character of your store, I
suggest visiting stores similar to the one you have in mind, especially those
in other cities. Study their layout, product mix, lighting, floor coverings,
pricing, use of wall space, window displays, and promotions. Make a list of
what appeals to you and what does not. Visit well, make your visit worthwhile.
Study them with an "observe & learn" attitude. If you are
thorough in defining the character of the store you envision, you will come up
with a good idea about the product mix you would like to carry. Determine
whether to carry juvenile and/ or youth furniture, maternity, toys, and
clothing, as well as the percentage of each category you wish to include in
your inventory.
Size and Location
Size and location are two very significant
factors that will determine many other aspects of your store. A store of under
2000 sq. ft would be considered small (one crib and case goods display alone
will take up 60/80 sq. ft. of space). Remember you will need to allocate
approximately 20% to 30% of the total space for aisles, common areas, etc.;
otherwise, you will end up with a very cluttered look. Most baby product stores
are 2000 to 7000 sq. ft. In terms of location, your three basic choices are to
be mall based, within a strip plaza or in an independent building. Each has its
own advantages and disadvantages. As baby product stores are considered
"destination" stores, you do not have to rely on mall traffic for
your survival.
Have you ever noticed how shoe stores are
located close to each other? An independent retailer I know says that the main
reason for his success is that his specialty baby furniture store is located in
a strip plaza about 100 yards away from a Babies 'R' Us. He has adjusted his
inventory to offer specialty products, but at prices that are not significantly
higher than those of his mass merchant competitor. He also relies on Babies 'R'
Us marketing and promotions to get customers to his store. If you are not savvy
in adjusting your product mix however, a move like this will destroy you. You
also want to locate your store in an area of town where young people live. Do
not open a store in an area just because it is close to where you live; open
the store where your prospective clients are.
Leasing Suggestions
Unless you already own a store property that is
ideal for a Baby Products store - we highly recommend that you initially RENT
the space. Sign the lease for as short a period as possible, but make sure you
have multiple options to renew the lease for predetermined periods and rates of
rental. Besides the basic rent and utilities, find out if there are any other
charges that you would be responsible for. It is not uncommon for business
tenants to have to pay certain common fees or for garbage disposal. If you are
considering purchasing an existing store, I suggest that you find the reason or
reasons why the owner is selling the store. Verify the reasons he/she gives you
by checking with neighboring store owners or others in the community. Any
decision to purchase an existing store MUST be accompanied by a complete audit
of accounts for the past 5 years. A competent accountant will be able to guide
you to determine an adequate purchase price based upon the cost of inventory and
the profitability of the store.
The success of any small business startup rises
significantly when its owner has good standing and a relationship with a
banker, accountant, and handyman.
Purchasing a Franchise
There are definite advantages to purchasing a franchise
but...like anything else in life...there are no free lunches. The five primary
benefits of becoming a part of the franchise operation are:
1.
They help set up the store;
2.
training is provide to help you manage the
operation;
3.
the guidelines about inventory takes the
guessing out of such choices;
4.
they assist in marketing and advertising; and
5.
they provide tested computer programs for
operations.
Ask the franchise company as many questions as
you can. IF you are going to join their group, they better have the answers. IF
they don't — move on! Inquire about the factors that dictate their decision on
selling other franchises in your area and whether you, an existing franchise
owner, will be given the first opportunity to purchase other franchises in your
city or region. Compare to other franchises in order to understand the pros and
cons.
Unless you purchase a franchise, you will be
free to determine the layout, design and other aspects of the store. Select a
name for your store (each letter in the name adds to the cost of signage),
incorporate to limit personal liability and try to purchase used store fixtures
and fittings. Used display cases, lighting and even slat walls are available in
almost every city at less than half the cost of new equipment. You will be
surprised by the selection and variety found at used store fixture and
furnishing places.
Financial Aspects
This topic is so large that ALL the factors can
not be covered in an article like this. Only general guideline and tips can be
offered in a piece like this. In broad stroke terms, suffice it to say that the
MONEY aspect should be divided into two categories:
1.
Capital expenditures for setting up the
store and purchasing inventory.
2.
Operating expenses that would cover the
cost of rent, salaries, utilities, advertising and marketing, etc.
Here are a few general thoughts that a new
store owner should consider:
· Spend
more on purchasing inventory than on decorating the store, but make sure your
space is visually appealing as this helps sell.
· Have
at least six months operating expenses available in ready funds when opening a
new store.
· Be
prepared to work 60 to 80 hours a week.
· Hire
additional help as sales increase.
· What
ever monthly expenses you project, the real outlay will be 25 to 50%
more...it's like when building a house, unforeseen expenses will pop up!
· The
most overlooked expense is health insurance cost for yourself and your family.
· One of
the best investments is to buy a quality accounting and inventory control
software.
· Negotiate
with banks to get the best rates for processing credit card payments. Remember,
they are vying for YOUR business. Do not be intimidated. Let them know you're
shopping for the best deal.
· Identify
slow moving inventory and try to sell it at cost or even slightly below cost. The
capital tied into such items is not earning you anything. As a matter of fact,
If you have borrowed to purchase some inventory...this is costing you!
· Consider
advertising an investment, not an overhead. Allocate a certain percentage of
your total sales for advertising and marketing. Do not let a smooth talking
sales person exceed your preset limits. Deal with reputable vendors. If they
dont' return your call for potential business, they certainly won't return your
call when there's a problem.
· Take
advantage of prepayment discounts or other special offers — any such savings go
directly towards your bottom line.
· Incentivize
your sales staff with commissions and bonuses. When they put out extra effort
in servicing the customers it will create good will, customer loyalty and
positive word of mouth advertising.
· Sell
excess and slow moving inventory on the internet through eBay and other such
sites.
· One
tip that a friend of mine gave me in running my business was to maintain two
bank accounts. ALL sales deposits to go into one account. All payments to go
out of the second account after transferring funds into the
"payables" account. His wisdom was to get the banks to assist you in
keeping broad stroke tabs on the income and expenses.
Important Addendum
There is this dynamic Interior Designer from Denver Small Business
Development Center
in Denver
I can not over stress the need to have as
detailed a business plan as possible. In each city there are business resource
centers at the Chambers of Commerce, Colleges/ Universities or Small Business
Associations that can help you in refining your plan. Many of these services
are available to you at no cost. Utilize such resources and you won't be
disappointed.
Naresh Dewan, Publisher of Baby Shop magazine
Would you
like to start looking for products?
If you
do decide to open your own retail business and wish to carry baby furniture,
baby accessories, infant clothing, toys, maternity clothing or pregnancy
products, Baby Shop Magazine will
be a tremendous resource to you BEFORE you even open your doors! Baby
Shop Magazine is a
semi-annual printed trade publication of Spindle Publishing Company, Inc. This
website reflects the articles and advertisers that appear in the current
printed edition, and is available to anyone in the juvenile or pregnancy
product industry — whether you are thinking about opening your baby store or
you have operated your retail business for years! If you are a retailer, you
may receive a FREE
SUBSCRIPTION to
this trade magazine by registering with us today!
