Question: Dear sir, can you suggest me the procedure, risk, cost and other factors in the retail clothing business, I want to start retail clothing business in Taxes, I have 27,000 USD to devote this business, please suggest a plan and give me some basic idea about the kind of business.
Tips and Guide to Start Retail Clothing Business
Answer: OK, so you want to start a retail clothing business in USA? The capital you have is enough to start the business. Dear friend, first of all you can start the business with rented premises as you have not given any information whether you have any shop of your ownership so presuming you don’t have you first find the area which is high density area crowded by people, you may select malls or can open individual shop.
Then select the type of garments you want to business in. You can deal in ladies garments or children wear or gent’s garments or ceremonial garments etc. It may also possible you can deal in more than one category of garment. Find trusted suppliers who are well known to the market and provides uninterruptedly and who are cost effective.
Start giving advertises in public news papers, brochures, pamphlets etc. so that people come to know new shop is being started. Aware customers about type of and variety of garments available in your shop so that they will spread the same information in an informal ways to those whom they know this way indirect advertisement will be done.
You have 27,000 USD you can very well utilize this amount. First of all you require shop deposit around 7,000 USD then good furniture to attract consumers then keep stock around 10,000-12,000 USD. Rest of the amount you will have to pay and for the balance you will get credit from supplier so that much amount you can utilize elsewhere. This way plan your business and most importantly get it registered with local authority with the name you prefer.
If you want to ask any questions you can ask questions here.