2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
To open a clothing or footwear store that will generate significant income, you will have to spend a considerable budget on advertising, purchase goods in the most “fishy places”, select smart staff and take into account a lot of other nuances. If you have never worked or been in business related to the fashion industry, then it is better to start by learning all the pitfalls of this area, but in no case do not rush into this business without preparation.
The first thing to decide is the location of your store. This will determine which price segment your product will belong to.
If we open a shoe store, we need to definitely
determine which category of the population will buy your product. An expensive range will not be in demand in an area where low-income people or working youth live, and economy-class shoes will not suit those who are used to buying expensive things. A more profitable business option will turn out if several departments are represented: men's, women's, children's.
If we open a store in a big city, we can experiment withbrands and pricing. In small towns, classic models are better sold at affordable prices. The store usually pays for itself in one to two years. The cost of opening such a business depends on several factors. It is necessary to take into account the area of the trading floor, the purchasing power of the area, the cost of equipment, the lease of premises, the maintenance of the store.
In order for your store to become a visited place, you need to run a promotion. If the brand is new and not supported in glossy magazines, you will have to create an image ad. If we open a shoe store without an advertising company, moreover, you do not have a large selection of positions, you can be sure that this will not pay off.
It is advisable to analyze the market of your city and the region as a whole, in which we open a store. Be sure to check out your closest competitors. Try to keep track of how well the product is doing, what it is, what positions they offer. Your product must be unique or have competitive prices, otherwise it will be difficult to compete for potential buyers. Market analysis will allow you to determine the best location for your store. Many make mistakes,
when they equip trading places on busy streets where there are few potential buyers. In this matter, you need to be careful, calculate and think through everything to the smallest detail. The best place for location is a shopping complex, where people specially come for shopping. But here youmany competitors will be waiting.
The lowest price segment will provide you with a constant influx of visitors. People are not afraid to go to cheap shops. It is more difficult to attract to the middle and high segment.
It is worth noting that the choice of the dealer from whom you will take the goods will play an important role in the success of your business. Price, models, flexible discounts and payment will all directly affect the entire business as a whole.
In conclusion, the most successful stores are chain stores. For other private stores to "survive" and earn themselves a wide recognition, it is more difficult, whether it is a task like opening a grocery store or a shoe store.
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