How to Open a Trendy Wholesale Clothes Store
Having a trendy wholesale clothing store is no easy task. It requires hard work and a knowledge of trends and products. You need space for your merchandise and strong business skills. If you are a savvy fashionista with sales talent, you have potential for significant income.
Every clothing store is looking for a product to stock their shelves. If you can keep up with modern trends and stock updated and fresh, you can get a hold in the market. As a wholesaler, you work with businesses rather than individuals. Your sales will not be for one shirt, but dozens.
- Determine where to store your merchandise. Consider whether you will sell strictly online or want a physical store location. Some clothing manufacturers will drop ship, which is when the manufacturer sends the items directly to your buyer. You arrange the sale. The advantage to this practice is you don’t need to store any product, and the disadvantage is that the manufacturer charges you, the middleman, fees.
- Plan the type of wholesale clothing you will be offering. A general wholesaler sells clothing of all sizes and types, while a niche wholesaler focuses on a single demographic, such as petite women.
- Keep up on the latest trends by checking the style and fashion magazines and industry publications. Websites and blogs devoted to fashion help keep up on what’s new and popular.
- Obtain any licenses and follow any requirements determined by your location. These include a tax I.D. number, a business license, and if you plan on hiring employees, an employer identification number from the IRS.
- Establish a separate business account with your bank so that you can easily track your sales and business expenses.
- Register a domain name for your website or online store. You can sell on established sites like eBay or Amazon, but they charge fees and percentages. If you want total control, you can use an ecommerce site like MagentoCommerce.com.