Clothing Business Plan Template
Not only do you need to commit to a location in a specific state, in a specific town, but then you need to consider the various neighborhoods and streets which will bring you foot traffic and a large consumer base interested in (and able to afford) your merchandise.
Once you've narrowed down your location options, you'll need find the right building.
Don't forget seasonal trends, plus those new styles and brands that become popular due to pop culture influence.
You'll need to have a diverse mix of clothing, while understanding that you won't necessarily be able to satisfy everyone that walks through your door.
You may consider working in the fashion industry or in a clothing store to not only learn the ropes of the industry, but also save some money to fund your company.
It's important not to underestimate the amount of financial capital you'll need to get started.
You'll also want to look into setting up any necessary insurance. Evaluate whether your market will take to a new men's, women's or children's clothing store, or whether you should sell a combination of these.
You can choose a specialty, such as vintage clothing for women, maternity, sportswear and accessories, or some other category.
You'll need to determine your mark-up amount, understand effective pricing techniques for your type of store, and know how to discount merchandise effectively.Without this you might be left wasting time and resources doing things that will not help the business grow.In your clothing line business plan you will outline all the products you plan on offering and where they will be sourced from.To start, you'll need to get in touch with vendors who carry the clothing that you want to sell.A trade show is one of the best places to buy wholesale merchandise for your store.You'll need to purchase merchandise, pay store employees, buy marketing materials, furnish the store with fixtures and lighting, and other expenses.Finding the right location is one of the most important decisions you'll have to make when opening a clothing store.Having to spell out these details is necessary for a comprehensive business plan, but you'll also want to determine your start-up costs, evaluate the local market, and develop a sales and marketing plan. In the case of fashion, you'll need to spend money to make money.It's likely you'll need to borrow money to fund your business through a small business bank loan.Consider storefronts in strip malls or in stand-alone locations, or look into mall leases if it's suitable for your type of clothing store.You'll have to keep in mind your inventory numbers: How much square footage will you need?