Nothing beats finding a brand that really resonates with your style and has a design intention that aligns with your values. Now, what if you could create something special like this and attract a customer base that wants to advocate your unique vibe? It is possible with hard work and a clear strategy, so let’s cover what goes into straying a clothing store.
Securing wholesalers and suppliers
What you bring to the table is totally your own, but your wholesalers and suppliers will have a huge role in cultivating that brand. Whether you are searching for wholesale socks in Australia, material, accessories or ready-made clothes – do your research and talk with suppliers and wholesalers to identify who will suit your style.
Something to also consider would be that some suppliers and wholesalers have a minimum order or minimum spend. You might need to find a supplier within your remit before you qualify for a supplier that is cheaper, as they require a higher order.
Understand what your margins are
There are a lot of factors that go into understanding your margins, and it’s not as clear cut as looking at the day’s earnings. You want to factor in the rent of your physical store, the website hosting costs, your employee wages, and all those other factors that need to be balanced before determining profit.
Another point to make would be that you should have a significant starting fund so that you can afford to make a mistake or two. You do not want a quiet month to derail your clothing store operation. Working with a financial advisor is also going to afford you some extra confidence in your decisions, knowing what you are working with.
Building a brand
Think about the last time you bought something, and how long that decision-making process took. Brand perception and brand identity is a critical component to the success of your clothing store. Do not skip corners here and do some research into who your audience is, what they are looking for and what your clothing brings to the market that no one else does.
You can do this yourself or you can use a branding agency to do that work for you. You will find that as soon as you know what your brand is about, your communications and marketing flow is going to come so much more naturally.
Gone are the days of businesses operating unethically. Well, those businesses exist but they do not have the same following and respect as brands who commit to socially reap I mean practices.
Here is what constitutes a socially responsible brand:
- Using environmentally-friendly materials and dyes
- Using recyclables where possible
- Recyclable packaging
When you commit to being a green brand, then you can market yourself as such and convert customers to your cause. Still not sure how to become a socially responsible brand? Check out new brands like Boody and see how they do business.
Marketing and partnerships
Your marketing strategy should be something you think about early and often. This is going to drive your sales activity and work to educate your audience on who you are. Now that we have discussed the importance of building a brand, you need to propel that forward with a marketing plan. Build a content calendar that includes social media activity, blog activity, grassroots marketing and other activity that will meet your audience where they are.
Partnerships can be a great way to piggyback on the authority of a brand and tap into its engagement and customer base. Influencers are another way to get more eyeballs on your brand, and the content they create with your clothing can be used again by you – which means you have ready-made creative for your organic and paid advertising.
Are you feeling more confident about launching your clothing store? We hope these tips will send you on your way and get you closer to retail success, regardless of your niche and stock.