How much money do I need to open a clothing store?

Well, first off...

You can't just jump into owning a store...

You need to know some negatives. It can be very difficult.

70% of ALL small businesses fail within the first year.

80% of ALL retail businesses fail within the first year.

Its a scary reality.

But, it really can be done.

I have a clothing store...and it is solely online. I can't imagine the start up cost if it were in an actual store and I needed fixtures..etc.

But, that's my ultimate goal...so I know a bit about it.

My online store is costing me close to $10,000 and I have hardly started.

Thats including a website (which you definitely should get...for the marketing) as well as some clothing and accessories.

You should really try to specialize in one gender's clothing. It would probably be easier to focus in on one style and one gender so that you don't order things that the opposite sex won't want to buy.

I know I couldn't sell boy's clothing with out lots of research.

I really recommend taking business and marketing classes at the local community college and buying and reading MANY books.

But, first things first.

You need licenses to do this!!

First, you need a DBA (doing business as). Its about $30. Then, you must publish it in the local newspaper for about $60.

You will be wanting to get your EIN (employee id number). This is completely free and can be yours within 5 minutes. You should get one so you don't have to use your social security number.

After that, you need your Seller's Permit so that your state can collect taxes or so that you can purchase from wholesalers.

Lastly, you will need your business license.

You can take a look at nu-era.com for fixtures you may need.

Racks and shelves can cost you any where from $60 to $500.

Mannequins are normally $200 to $500.

Cash registers are about the same price.

You will be needing a phone, a computer, a security system, a clothing steamer, a tagging machine, etc.

Since you are 16 (and still in school?) you will need to hire employees to work there unless you are planning on being there a limited amount of hours...which can be a bad thing.

Marketing will be one of the most important things that you can do. You must promote your business, or else no one else will know about it!!

Try vista print.com for business cards and flyers.

You sound like you have some what of a clue (using "demographic":] )... and with that building just sitting there, waiting for you...I think you should go for it.

IF you have the money that is.

Do a little research

Good Luck

ps I'm only 17 :] and I own my own online clothing store. Its really exciting and you'll love every minute of it... besides the stress that comes with it (especially when being in school as well).

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This Site Might Help You.

RE:

How much money do I need to open a clothing store?

See, my dad has been renting this building in our block for who knows how many years. He pays the rent, light, maintenance etc, and It's literally empty.

It is located in the same block as a Middle/High School (Grades 7 through 12) and I think it would be a good location for a teen clothing...

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Well, in that type of business the first that comes to mind are: You need to have a good supply of clothing. Is it for resale or new? If new you have to think of how much you plan to spend on what you order. If resale, can take donations and work on commission to the one who donates/sells that way and you can find clothing in your closets,etc. I would say there is always a building overhead cost to figure monthly with the rental of a shop or space in a multi place business section. Then there are utility costs (like water, gas, electric and phone if not giving out the way to reach otherwise by cell phone .Then there is the cell phone charge use to say you have for such purposes as well only). I would think that this is somewhat deductible in business expenses when filing your taxes from the business. I would also look into whether you need to have employees otherwise to sell the merchandise. That is a payroll expense if you hire other ppl to help out. I would think of the advertising or any sales promotion fees as well. Those are what I can think of offhand but I'd search starting up a clothing business (the expenses of doing so) online to be sure of it all.

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It gives free training on how to make money online

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Just get LOTS of posters off Ebay to cover the walls.

Buy some clothing racks and a small desk for money... it can start like a warehouse (cheap and easy) then you can work your way up with the profits.

That's true