It can be exciting making the decision to set up your own shop. It can also be very nerve-racking. Although there are many factors that can affect whether your shop is a success or not, one of the most important things you need to give special attention to is purchasing the stock for your clothing store. The stock you sell will determine who visits your store and buys from it and whether or not they decide to make repeat visits and encourage their friends and associates to visit it as well.
In the following guide you will find some helpful advice about what you need to do and to think about when buying stock for your store to give your business the best chance of success.
Choose A Niche
Whether you are going to sell clothes to a broad range of customers, like women in general or are aiming to target a specific age group, gender or size; you need to have a clear idea in your head as to what your niche will be. This will enable you to focus your purchasing on the types of clothing for that niche.
Be Aware Of Clothing Seasons
Generally speaking, there are two main seasons within the fashion industry Clothing Seasons
In general, the fashion industry goes through two main seasons: Spring/Summer and Fall/Winter. Depending on the niche you have chosen, you will have to purchase your biggest stock of inventory two to four times per year with minor purchases in between to readjust to your customers’ tastes.
Consider Your Purchasing Strategy
When you are choosing a wholesale manufacturer, you need to think about whether you want a domestic one or an overseas one. While it may work out financially cheaper to go the overseas route, it is not without it’s problems. Consider using a company like Stylewise UK, a British based wholesaler.
A quick browse of their website, shows that they have a wide range of different clothes to choose from, more than enough to meet your customer brief. If you want a nice line of dresses and coats, you can get them from Stylewise. They also sell at bulk a lot of accessories and shoes too, in timeless styles that are never going to go out of fashion.
If Possible, Visit The Factory
Many store owners swear by this part of the process. Once you have established a wholesale supplier, if it is applicable, you should try and visit the factory. It may be that you have spoken to them in person or even just over the phone, but it can be a good idea to see the where and how your clothes will be made. This gives you a chance to understand their process and to ensure that the quality of clothing you require for your store is being met.
To prevent problems arising such as missed opportunities or even in the worst case scenario, bankruptcy, you need to be very exact and organised when managing your stock. The amount of merchandise you have on display, if you are in a brick and mortar store, or have available on an online store, needs to not be so low or it could give the impression that your clothing business is not doing very well and may put off would-be customers. On the other hand, it needs to not be too high or you will have lots of tied-up capital.
There are many other things you need to take into consideration, obviously, as running your own business is a big commitment, but we hope that this article will provide you with some thoughts and suggestions to help you make your first big steps.