The Basics in Starting an Urban Clothing Store

The clothing industry has become a huge thing in the world of business. Left, right, up, and down, you’ll see people scrambling up the lane to get their hands on the hottest collection of clothing lines the fashion world has to offer. It’s no doubt that fashion clothes, especially those urban type clothing lines, has become so popular that even those clothes that cost’s hundreds of dollars are still being purchased. This made way for a new trend in business, the urban clothing retail business. Because of the huge demand that people put on urban clothing lines, everywhere we look; new urban clothing shops are popping up, in the streets, uptown or downtown, and to malls and plazas.

Now what makes starting an urban clothing store easier than any other kind of business? Urban clothing lines has been popularized mainly by their founders, which is in sometimes a popular entertainer such as Sean John Combs and its sean john clothing, Beyonce Knowles and her house of dereon, or Nelly and his apple bottoms jeans. And as I said before, urban clothes are among of the most “on-the-demand” types of clothes in the world, which makes it a lot profitable for a business minded person to take advantage on. And to the fact that with a small amount of capital, let’s say a hundred grand, you can start your own urban clothing store, complete with your own hired personnel. Lesser over head cost, greater profit, equals success.

Many had gained success in an urban clothing store business, because of its advantages above other types of business. But many have also gained failure in this line of business. Though an urban clothing store business is very profitable, poor maintenance and management can still lead to its downfall. And besides that, there are just too many urban clothing stores out there. So locating a proper location for your business, more foot traffic and less competition, is complicated.

A lot of us, including you, would love nothing more but to see our urban clothing store businesses to grow in success. So we try our best and put all of our efforts to make our businesses grow and prosper. But a strong will and a mindset for success is not enough to make our urban clothing store business, or any kinds of businesses in that case. The only way that you can assure the success of a business is through careful planning, timely arrangement of necessary documents, and good management skills. And the reason why you’re here is to learn how to start an urban clothing store business properly planned and arranged. So here is a short list of what you should do before and on the day you’ll open that doors of your urban clothing store business.

Establish your business

Before anything else, you should first establish the type of business that your urban clothing store would be. Determine if you would like to run it as a sole proprietor or owner, or you would like to start a Partnership or Corporation. You may want to start a 50/50 partnership with a business partner then, you can gradually move on to create a Limited Liability Corporation as your company gets bigger.

Arrange a business license

Now to avoid running into the authorities for breaking some sort of violation or because of lack of business documents. You should first check with your local business bureau and find out if there are any kinds of requirements that you should complete before opening your urban clothing store. Requirements such as business permits and other taxation documents should be arranged before your start on buying your stock.

Business and Account Planning

Now there are several software tools that can be used to help you in your accounting plan, such as the use of Excel spreadsheet or accounting software such as Quicken to program and outline your plan. You should also include your start-up costs, for example, how much do you need towards the rent, money needed for opening day, salaries and wages, payroll taxes, insurance, and other business needs. Apart from that, you would also want to include how much of the assets are coming from your personal funds or savings and how much were loaned or borrowed. Clearly list what the assets and the liabilities are.

Now in your business plan, things such as where you plan to set up your business, the demographics, your goal and your projected income should be carefully outlined. You may want to indicate where you will get your funding or investment capital, may it be from loan or if you plan to take money from your own savings account.

Your Store’s Name

So now that you’ve finished taking care of what’s happening in the backstage of your business, its time for you to get started on taking care of what’s going to happen on the main stage. Now the first order of business is to think of the name of your store. If you are planning on designing your own urban clothing line you would need to name your store with that of the name on your clothing line label. This way it will also be your bill-board.

If, however, you will just buy wholesale and be a retailer, you can name it any name you want and then sell different name brands of urban clothing lines. Make sure to pick a name that is hip, meaning avoid formalities. Urban clothing are streetwear clothes, so no need to be too formal about it.

Your Location

You can look for a location to lease in a mall in order to take advantage of established customers, or you can try to find a freestanding location. Determine how much room you need by writing down what you plan to carry. Most urban clothing stores not only carry pants and shirt, but accessories including hats, belts and shoes as well. Make sure you add extra room to store stock. Be sure to check the zoning and code information to ensure your compliance with business zoning standards and code requirements.

Now one way of competing with resident stores on your area, its best that you observe what they can provide and what they cannot provide. Take for instance a shop selling jeans from apple bottoms and house of dereon, but they lack on selling jeans from sean john or rocawear or evisu. This is a perfect opportunity for you to take advantage on your competitor’s weaknesses. If they can’t provide jeans from sean john or rocawear or evisu, they you should target those kinds of clothing lines and sell not too much apple bottoms and house of dereon jeans.

Find a Supplier

You can start by looking for independent labels in your area. Small, independent labels will not only be less expensive for you to carry (thereby increasing your profit margin), they also allow you the opportunity to be the founder of the next big thing. Even if you have no independent designers or suppliers in your area, you may be able to find some online. When buying in bulk, be sure to negotiate additional discounts for your purchase. Among of the best place where you can buy your stock of urban clothing lines is through the internet. Online clothing shops such as Streetzwear can provide benefits that can serve very advantageous to your business.

Streetzwear provides a wide array of clothing lines from jeans to t-shirts, from famous brands such as sean john clothing, house of dereon, rocawear, gino green global, apple bottoms , and many more.

Your Chosen Stock

Now it would be very much preferred if you buy brands that are very popular. Subscribe to magazines that feature urban clothing ads and photo spreads. This will help you to stay on the cutting edge and keep your store stocked with the styles everyone will be looking for.

Here is a short list of the brands that women usually want a clothing shop to possess:

o Sean John Clothing for Ladies

o Apple Bottoms

o House of Dereon

o Rocawear

o Makaveli Ladies

o L.E.I

o Mudd

o Seven7

o Steve Madden

Here is a short list of brands that men would want to spend their moneys on in clothes:

o Phat Farm

o Makaveli

o Rocawear

o Sean John Clothing

o Snoop Dogg

o Coogi

o Hypnotic

o Miskeen

o Southpole

o Gino Green Global

Here is a short list of brands that Children usually want for their birthdays:

o Rocawear

o Sean John Clothing for Kids

o G-Unit

o Phat Farm

o Ecko

o Enyce

Get Known

You will want to have some sort of advertising plan in place to attract customers. Sales, coupons, TV and radio ads, newspaper and magazine ads are all options. You may also want to consider direct advertising (postcards and letters) directly to your target market.

Weeks or months prior to your opening day, ensure that you have mailed or distributed fliers, set up ads in the advertising section of your local newspaper, post bill-boards and flashy signs at a corner near your store. Have friends and family hand out your leaflets so that people will come in to your store the day you open the door to the public.

About the Author

I am an article author.
www.streetzwear.com

EEP100 – Lecture 11

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