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Table of Contents

Additional titles in Entrepreneurs Startup Series

Start Your Own

Arts and Crafts Business
Automobile Detailing Business
Bar and Club
Bed and Breakfast
Blogging Business
Business of eBay
Business Support Service
Car Wash
Child-Care Service
Cleaning Service
Coaching Business
Coin-Operated Laundry
Construction and Contracting Business
Consulting Business
Crafts Business
Day Spa and More
e-Business
e-Learning Business
Event Planning Business
Executive Recruiting Business
Fashion Accessories Business
Florist Shop and Other Floral Businesses
Freelance Writing Business and More
Freight Brokerage Business
Gift Basket Service
Grant-Writing Business
Graphic Design Business
Green Business
Growing and Selling Herbs and Herbal
Products
Hair Salon and Say Spa
Home Inspection Service
Import/Export Business
Information Consultant Business
Information Marketing Business
Kid-Focused Business
Lawn Care or Landscaping Business
Mail Order Business
Medical Claims Billing Service
Net Services Business
Online Education Business
Personal Concierge Service
Personal Training Business
Pet Business and More
Pet-Sitting Business and More
Photography Business
Public Relations Business
Restaurant and More
Retail Business and More
Self-Publishing Business
Seminar Production Business
Senior Services Business
Specialty Travel and Tour Business
Staffing Service
Tutoring and Test Prep Business
Vending Business
Wedding Consultant Business
Wholesale Distribution Business

Preface

The Start Your Own Clothing Store and More book is written for the fashion-conscious individual with an acute sense of business. Although anyone can open a clothing retail storeespecially after reading this bookit is not for the faint of heart. It requires dedication, long hours, experience in the fashion industryand some cash. Whether a fashion-savvy entrepreneur wants to build a clothing empire or settle comfortably in a small boutique, this book will lay the groundwork from beginning to end.

Readers will learn how to spot new trends and forecast upcoming styles, while analyzing their competition and getting the jump on them. Although doing homework is generally not fun, entrepreneurs will enjoy sizing up the market while studying demographics and locating the right site. They will also learn the mechanics of setting up their store to its best advantage and creatively displaying their wares. In addition to exhibiting the apparel, entrepreneurs will also learn how to effectively find, track, stock, and store their inventory.

Once readers know what to sell and where to sell it, they will then learn how to sell it using a myriad of marketing strategies. Also, hired help is usually a must and there is an art to successfully hiring, firing, and training employees, which will be discussed in detail.

Most importantly, finding a niche or specialty is the key to success, and this book will discuss several different concepts including how to cater to women, men, or children, developing their own brand, reselling vintage and consignment wear, or opening a specialty boutique.

Readers will also learn the importance of social networking and maintaining an online presence. A website is your online brochure and it can work for you 24 hours a day, seven days a week. In addition to credibility, a professional-looking website gives you a variety of marketing opportunities which will be covered in this book.

One of the neat things about owning your own business is that you are the boss (aka head honcho, top dog, big cheese). The good news is that you get to sign the checks. The bad news is that you have to sign the checks. You also cant call in sick or defer to someone to a higher authority. But its all good because were going to help you get on top of your game with sage advice from successful entrepreneurs, worksheets to help estimate expenses and operating costs, nitty-gritty details about the clothing industry, and much more.

So relax, start reading, and explore all of the options that will soon get you on the fast track to success. The fashion industry is always going to be in vogue, and with courage, talent, and resources, a clothing store entrepreneur can be well on their way to success!

Introduction The Apparel Entrepreneur

Shop til you drop. Its arguably one of Americas favorite mantras, whether were stocking up on Nikes, spandex, or low-rise jeans.

Whether youre a Prada poseur or a Dockers devotee, chances are you know all about fashion obsessions such as how the styles of Gossip Girl have supplanted those of Sex and the City, and can drop names like Halston or Herms at the drop of a feather boa. And if youre interested in opening your own apparel store, chances are you may not own a feather boa, but youre probably aware of the kind of money that savvy apparel entrepreneurs can make if they know their market. What do you think of when you hear mention of the Gap or Gymboree?

During the 1990s, the apparel industry experienced a bit of a slowdown as consumers turned their attention away from clothes toward electronics. However, that trend re-shifted after electronics and computer-related equipment suffered a sharp decline in 2005. According to MarketResearch.com, that is the year the apparel retail industry generated total revenues of $827 billion worldwide. Forecasts predict that performance sales in this industry will increase in the United States by a compound annual growth rate of 10.9 percent for the period of 2009 through 2014. While spending will continue to increase in all retail categories, apparel and electronic purchases will maintain their status as retail leaders of the pack.

Its Not a Fad, Fad, Fad, Fad World

One of the keys to your success as an apparel entrepreneur will be your discerning taste. Having an eye for trends takes more than watching the Style Network or the Academy Awards. The apparel business can be riskyask the flamboyant Isaac Mizrahi, whose ready-to-wear label went bankrupt in 2004so if you think you might want to open a womens boutique in a middle-income neighborhood, youd better be sure you stock more than sequined bustiers and stiletto heels. The point is you are not going to want to stock the same merchandise in suburban Cleveland as you would in lower Manhattan.

Whether you decide to open a store in suburban Cleveland, at the Mall of America, or above a coffee shop in lower Manhattan, youll have to do your homework. What are people buying in your neck of the woods?

As you will learn in this business guide, the secret to success in the apparel business is location, knowing the tastes of your market, and moneyand as youll also learn, not necessarily in that order. These are the basic ingredients of a profitable store.

This recipe includes other factors as well. How ambitious are you? How adept are you at managing people, many of whom will be working for not much more than minimum wage? Are you willing to work long hours every day and give up your weekends? Do you have strong financial backing or know where to get it? Do you know cotton from chenille, Dolce from Dockers, or Calvin Klein from Charter Club?

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