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If you are a small retail company or big hitting chain store, the end goal is the same. Sales, sales, sales!! Without the money going into the account, no business can survive. So when starting up a new business, it goes without saying that a business plan is key! Figure out who will be your target audience and who will form your custom base. Once this has been established you can then start to decide the area of products you will be purchasing. One of the main mental blocks to overcome is the one of buying for yourself. If you have yet to have any experience in the clothing trade, it can be quite hard to break the mould from your own particular style and fashion. As most people have different and unique styles, they may always be a match to yours.
So how do you break this mind set. The best way to do this is to do some market research. Research companies that may have similar target audiences and see what their range is predominantly . See what styles may appeal to your target audience. By all means if you feel it is something that you would wear, and also sell, then go for it! It isn’t a rule that is set in stone it is just making the point of breaking the mind set. As mentioned earlier it can sometimes be a fatal error in the early days of your buying. Money is tight and budgets must be in place. Whilst trying to buy a wide variety to get started, it can be hard to keep within budget.
To summarise, if you are one of the brave people willing to quit their 9 to 5 and start up a small clothing business, preparation is key. Before any any money is handed over for you first batch of stock, make sure you have planned your range, shopped around for the best price and broken the mould of buying for your own preference!!