Download !!EXCLUSIVE!! Clothing Retail Business Plan

In this article, we outline what to include in your clothing store business plan, as well as a blank business plan template for you to use however you see fit. You can be as detailed as you like when writing your plan.

Keep in mind the technology you need to start a clothing store today: that includes a POS system with an eCom platform and integrated payments, inventory management software that syncs your online and offline stock in real time and loyalty programs to reward them for shopping. These costs, and the time required to manage multiple sales channels, should be built into your business plan.

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The executive summary should be a summary of your entire business plan. It typically appears at the beginning of a business plan, but you should write this last so you can draw from the rest of the sections for a more accurate blurb.

Corner Store combines athleisure and food and beverage retail into one convenient extended-hours offering. In addition to bespoke lines of healthy energy drinks, Corner Store offers comfortable workout clothing made from recycled fabrics.

With your executive summary and business description having introduced potential funders to your vision, your boutique business plan should next move into the concrete details. Your products and services section should outline:

Here is where you can predict how quickly you will grow and in what ways you intend to expand. How much revenue do you intend to generate after one year in operation? Do you plan to offer more products in the future? Are you envisioning outgrowing your first retail space? Do you intend to open more locations? Describe these plans to the best of your ability.

The purpose of this business plan is to secure a $27,000 ACCION loan. This supplemental financing is required to work on site preparation, inventory, and operational expenses. The loan amount appears in the long-term liability row of the start-up summary. Other financing will include an owners investment of $35,000 and a short term revolving line of credit of $20,000 for inventory replenishment during months of high receipts.

Or to develop a more modern business plan, that fits your retail business perfectly we recommend you try LivePlan. It contains the same templates and information you see here, but with additional guidance that helps you spend less time planning and more time designing the next big fashion trend.

This plan outlines how Boston Rags, a start-up retail men's, women's, and children's clothing store, will provide the Hartford community with unique clothing they would normally purchase outside of the state.

Boston Rags Clothing Store will be a start-up retail men's, women's, and children's clothing store specializing in unique clothing from other parts of the U.S. This business will be a casual urban wear traditional clothing store which will be run by the owners, Nancy Seymour and Joanne Arbor, as a Partnership. It will be located at 423 West Oaks Boulevard, near downtown Hartford, Connecticut. This store will also have a local market and will serve both youth and adults. Our intent is to provide the community with unique clothing they would normally purchase outside of the state.

Nancy Seymour receives a Veteran's pension (from her late husband) which is adequate for support without drawing from the business. Joanne Arbor is employed full-time by Central Connecticut State University, which is also adequate support without drawing from the business. Joanne has managerial experience and basic knowledge of accounting. She has at least 7 years of retail experience.

Boston Rags Clothing Store is a retail clothing store specializing in unique clothing and accessories. We encourage customers to be experimental with new clothing styles. Our mission is to understand what our customers' needs and hopes are after buying urban wear clothing.

Boston Rags will maintain financial balance while delivering a quality product to our customers. We will make our clothing accessible throughout our community by way of establishing a retail location, fashion shows, and events. We will make a profit and generate cash. We will provide a rewarding work environment and fair compensation to our employees, ultimately provide excellent value to our customers, and a fair return to our owners.

Boston Rags's keys to success include: implementing an effective cash flow plan, achieving efficiency, running our retail store professionally, and maintaining a serious business discipline to everything we do.

Retail profits can be as high as 65-85 percent on clothing and accessory pieces. The sales and profit margins in a specialty clothing and accessory store are higher than the average retail store. We have the opportunity to profit successfully.

The business will be retail sales of urban clothing and associated products. Nancy Seymour will hold 50 percent ownership and Joanne Arbor will also hold 50 percent ownership. It will be set up as a partnership at start-up and then phase into a Limited Liability Corporation by the second year.

Total start-up expense (including fixtures, equipment, and grand opening) is $53,743. Startup assets required $19,000 in inventory. With the owners' investment of $18,299, the amount of additional start-up funds needed are $35,444. The details are included in the following chart and table. It is planned to start the business in the month of December because this is the Christmas seasonal month in which retail store are known to have high sales. Once established, business volume may be somewhat cyclical for that reason.

While a clothing retail store is not unique in itself, this business will have one-of-a-kind items and provide personal one-on-one attention to customers after hours when needed. Customers can buy sweaters, dress slacks, dress shirts, coats, jogging suits, jean outfits, childrens' items, catalog items, and more. The store hours will be 7 days a week. Store hours will be from 10 A.M. to 10 P.M., Monday through Saturday, and 11:00 A.M. to 8:00 P.M. on Sundays.

Retailing has experienced more changes during the past decade than it did in the preceding generations. Although one can argue that retailing is still a domain of small businesses (that is, approximately 75 percent of all retail stores have annual sales of less than $1 million), in recent years slightly more than 80 percent of all sales were generated by stores with sales above $1 million. In addition, the growth of discount retailers has increased at a rate, some experts claim, three times that of the industry. This is due primarily to companies like Wal-Mart (which has been credited with creating one out of every 16 new jobs in the United States in 1994) and to an increase in wholesale membership clubs, such as Toys "R" Us and Circuit City.

The other competitive edge we have developed is the atmosphere and reputation. Boston Rags will bring a part of the Boston, Massachusetts, urban clothing experience to Hartford, Connecticut. That is why we are developing our fashion shows, musical guest appearances, etc. This advantage is important to us because our prices are slightly higher than other urban wear store locations in Connecticut. We will also offer more personal attention to our customers than the larger mall retail stores. We have direct connections to one of the top urban wear retailers in Boston, Massachusetts, called Ventures.

It is the intent to start the business selling the clothing people need to create a unique image of themselves. This includes various prints, colors, and styles. To increase sales and promote Boston Rags's store, special events will be held that please people, stimulate interest, pursue leisure, involve social participation, and occur within a specific, prescribed time frame. Some of our special events will include:

The peaks for this type of retail business are the months of August through December where sales rise as high as $34,472 for the month of December. The valleys for this type of business are January, June, and July where sales are down as far as $7,968 for the month of January. The remaining months have an average sales of about $13,000.

Ms. Arbor has over seven years of experience in retail sales and over five years of managerial experience. She has held positions of responsibility which required meeting company objectives. She receives a sufficient salary from her current job to support her during the incubation period of her business. She will oversee the store on a daily basis. She, along with co-owner Ms. Seymour, will hire two staff persons to work full-time in the store. One person will be responsible for operating the cash register and loss prevention. The other person will be responsible for customer service and inventory control. Ms. Seymour will oversee day-today operations along with Ms. Arbor.

Another big part of creating your online retail business plan involves choosing a business model. In the ecommerce clothing retail world, there are four common choices: Print-on-demand, custom cut and sew, private label clothing and dropshipping.

Custom cut and sew, as the name implies, refers to companies that design and sell their own products. Some custom cut and sew businesses produce all clothing in-house, while others outsource to plants outside the country.

While this business model is a great opportunity to launch a truly unique brand, keep in mind that starting this kind of online clothing store may require more funding and a deeper understanding of design principles.

Setting a price point for used items can be tricky, especially when used clothing can come in a variety of conditions and qualities. But according to Paranium, a source for ethical and sustainable fashion news, pre-worn clothing often sells for between 30% and 40% of their original retail price. As a rule of thumb, price your used clothing for a third of the price of a new, similar item.

Sell the hottest fashions with your own clothing line or fashion boutique. Use this free clothing line business plan to get your business started, including setting up an online clothing store from home. ff782bc1db