How to Start a Clothing Store

Owning a small business and being your own boss is the dream of many Americans. While it is a scary proposition, it may be one of the most rewarding things you ever do. Starting a clothing store takes a lot of sacrifices and hard work, but with a good business plan, you'll be on your way. 1. Do your research about the clothing and garment industry. Once you understand the basics about clothing manufacturers, suppliers, designers, and how the business works, you'll be more prepared to start your own clothing store. Take a job in a clothing store, as an intern at a fashion house or with a department store buyer. 2. Figure out what type of clothing store you'd like to open. Do you want to sell men's clothes, women's clothes, children's clothes? Would you like to sell new or used items? Will you be designing and producing them yourself or will you use a manufacturer? 3. Locate a retail space where you can open your shop. Choose an area appropriate for your business. Make sure the products you will be selling can support the monthly rent. 4. Create a business plan. Search online for business plan templates and fill it out to fit your vision. This is a clear way to present your business to others. 5. Raise capital or arrange financing for your business. If you need to borrow money to start your clothing company, the bank will want to see your formal business plan. Family members and friends are also a common source of funding when starting a new business. 6. Gather your inventory. Whether you plan on producing your own inventory, or buying it from others, figure out how much you need and get it ordered (or made). 7. Legally form your business. Form an LLC, fill out the necessary paperwork with your state or local municipality. Apply for a business license so you can legally operate in your city. 8. It's time to open your clothing store. Advertise locally, spread the word through friends and family, create a Facebook page and Twitter account to keep everyone updated on what's happening in your store.