Sales of clothing for children are influenced by some of the same buying cycles affecting the apparel industry retail. The children’s clothing stores have seen sales more since the toddlers and preschoolers attending classes throughout the year.
To start a children’s clothing store, you are going to need more than a little fashion sense. Starting your own business requires hard work, sacrifice, a good business plan and a solid funding source. With focus and determination and a little luck, you can make this dream a reality:
1. Research the Clothing Business (be good to have acquired experience in the industry). You will need to learn the basics of clothing suppliers and designers as well as get a general understanding of how the business works and what to consider. The best way to gain this experience is working in a clothing store for children or a designer or manufacturer of children’s clothing.
2. Decide what type of Clothing you would like to sell. Think about whether you are going to sell your own clothing designs or buy designs produced by others. Decide whether to sell second-hand clothes and new. Determine what type of market will focus. You can sell high-end clothing or concentrate on more affordable merchandise.
3. Rent or Buy your Store. If you are selling clothes, open your shop in an area of high income that can support the prices charged. Make sure your location is accessible and easy to find.
4. Create a Business Plan. You will need a written business plan when applying for business loans and grants.
5. Get Funding for your Business. You need money to pay for their store, buy inventory and pay bills until you start making profits. Apply for small business loans, loans from friends and family, or relying on their personal savings to help finance your business.
6. Buy Inventory from Manufacturers or Create your Own Designs. Be sure to get enough inventories to fill your shop and keep buyers interested.
7. Complete the Legal Steps for Start-ups. This includes the incorporation, account creation federal and local taxes, and for the presentation of the applicable business licenses. You may want to consult a lawyer for help with these items.
8. Open your Store. Tell your friends and family to help you spread the word about your store. Think about creating a friendly environment for children, in order to increase traffic. Try creating radio and newspaper ads, as well as traditional marketing ideas to increase sales.