What are the steps to know to launch a fashion store?
France is the home of fashion, like the Eiffel Tower. It is therefore not surprising that the country is a world leader in the sector, which has one million jobs and 4,500 companies. Like any entrepreneur who wants to get started, the designer of a fashion store must therefore prepare properly to put the odds in his favor. Where to start ? In what order to proceed? What should you watch out for? Here are our tips to get you started with peace of mind.
1 – From the idea of the project to the Business Plan
As an enthusiast, you have long imagined your boutique project. To achieve this, it is going to be essential to make sure that you have thought of everything. This is the objective of the Business Plan: this document will serve as a support for explaining your project. Team presentation, market research, choice of location, revenue projections, sales strategy and resources: take the time to complete this crucial step to ask yourself all the necessary questions. It may seem time-consuming and of little use to you at first, but in reality it saves time for the rest of the project.
In addition, the business plan, supported by market research, is an important document for soliciting funding from banks and investors. It allows you to show that your fashion store project is solid.
2 – Create the company and surround yourself with the right contacts
Once the project is well put together, you will be able to create your business. Depending on your country, you should look for the most advantageous company legal form. An accountant could help guiding you through the administrative jungle to choose the best status for you and obtain your VAT number which is the identification that will give you a professional status.
Also think about all the additional administrative procedures, such as :
- Request the services of an accountant to establish balance sheets, payslips, etc.
- Obtain a VAT number,
- Take out professional insurance to cover your activity, as well as your vehicle and your premises,
- Choose a health mutual,
- Join a supplementary pension fund,
- Open a professional bank account.
Depending on the legal form chosen, other steps may be necessary: ask your accountant! Allow several weeks to obtain all the elements - you can start the legwork while working on your business plan.
3 – Choose the clothing suppliers that suit you
Market research has helped you determine the expectations of buyers and therefore define the type of clothing you want to sell. Style, price range, materials: you know exactly what you are going to offer in store.
Remember, it's better to specialize: this asserts your identity, buyers identify you more easily, and you can establish higher margins, especially if you are positioning yourself in a niche market.
This will also make it easier to find wholesalers. Select those that match with your different criteria and positioning.
4 – Create the identity of your store
There you are! After the financial, administrative and business preparations, you will move on to the more "creative" stage. No successful brand would be known if it did not have a strong identity through its logo, its colors, the ambiance of its stores or its website.
So you understand the importance of creating a real identity for your store! Whatever your positioning, it is essential to stand out from the crowd. Your site, your social networks, your shop or your stand must reflect your values and make buyers want.
5 – Managing your store well on a daily basis
Starting a business is sometimes an obstacle course. However, the adventure has only just begun! You have made your dream come true, now you have to make it come to life.
To make it last as long as possible, here are some helpful tips :
- Be careful on stock management to meet customer demand,
- Always keep an eye on the cash flow to avoid financial trouble,
- Give great importance to after-sales service and overall customer satisfaction,
- Intelligently plan logistics and deliveries,
- For online sales, be sure to provide quality photos for your products.
