Starting a clothing store can be a lot of fun and it has a lot of potential to become a success if well planned but it also has the potential of becoming a failure if you fail to plan it out well and make back up plans to support it in those first months that may not make enough of profit. One of the first things you will need to think about it is your target market. You need to purchase clothes for a specific target market and then work around that target market to buy more products for your store. In other words, if your main target market is young working women between twenty and thirty, you can purchase clothing such as work wear, casual party wear because these same people will go out partying at night and also accessories to match these occasions? You can have glamorous party shoes and also work shoes to make her look professional and high end. You can have jewellery for both occasions and bags for both occasions.
You will need to have enough money in hand to purchase your stocks, your point of sale systems in Sydney, your displays and also your rent and deposit for your new location. After you have paid up all of this, you will also need to have money remaining to run the business for a few months as well.
A clever way of starting your business would be to begin with an online store where you can display your products, showcase your accessories, spread the word about your brand and avoid having to invest money in a location and a pos solution to have an advanced production control in those first months until you have built up your brand and made a profit as well.
Cross selling techniques
Your focus should be to attract your target market to your store or online store for a product they need and have them leave with a bag full of products that they did not originally intend on buying For this, you need to work on your cross selling techniques. If they came to buy a dress for work, you need to have products that would look great with the dress that they choose and put it forward to them that the other products would look amazing with the product they purchased. You can even offer the whole outfit at a discounted or bundle rate in order to make them buy more things and increase your sales while you are doing it.