Owning a clothing retail store that carries clothing brands and fashion trends you love is a possibility. To make your dream come true, you need the right execution plan.

Start-Up Costs for a Clothing Retail Store

An important part of your business plan is to think through and plan for upfront expenses to open your store. Some of the major expenses you will encounter are:

Rent and Operating Costs

Location Improvement Costs

Inventory

Miscellaneous Operating Expenses

IT (Technology and Communication)

Marketing

Public Relations

Darren Dahl at Inc.com in “The Cost of Starting Up a Retail Shop” outlines major start-up expense categories. Former business owner, Sharon Munroe, generously opened her finances and shared these real-life costs with Inc.com. I did a little research on Sharon’s business, and, sadly, it has closed after five years. But, the information in Darren’s article is still valid.

Business Startup Costs for a Retail Store

After spending 21 years as a market researcher, Munroe opened Little Green Beans, a consignment store in Austin, which specializes in children’s clothing, toys, and accessories such as strollers and high chairs. It was in November 2010 that Munroe, who originally moved to Austin to take a job with Dell in 1997, decided she was tired of the hustle and bustle of her job and wanted to do something else that would allow her to connect with her community and with other moms like herself. Munroe had been volunteering at a local nonprofit thrift store for some 11 years, so she knew there was a ripe market for gently used clothing and equipment in the Austin area. Read more…

The Nuts-and-Bolts of Opening a Retail Store

There are factors that would-be entrepreneurs need to master as they learn the “how to” in business ownership. StoreTraffic.com in “How to Open a Clothing Store” sheds light on the multiple components of retail start-up.

How to Open a Clothing Store

Knowing how to do it and how to approach the situation is important as you set out your retail marketing strategy. Knowing how to open the store and actually setting it up for business is wonderful but unless you involve a degree of retail marketing and promotion, your business simply won’t prosper. Read more…

 

Keeping a realistic perspective on the retail industry is key to proper planning and success. Some industry experts say that the profitability of individual stores depends on effective merchandising and marketing. Large retailers have advantages in purchasing, distribution, and marketing. Small stores can compete by offering unique merchandise, providing superior customer service and serving a local market. In other words, small clothing retail stores have a place in our economy.

[social_quote duplicate=”no” align=”default”]People are always going to go shopping. A lot of our effort is just ‘How do we make the retail experience a great one?’ ~Philip Green[/social_quote]