Clothing retail store business managment?

Question

I want to open a store selling mens clothing garments like burtons, topman or g-star raw.

How will i do up the retial shop cheaply, quickly in many locations.

How do i manage the team and make sure i make money?

Any retail trade secrets?

Any fashion brand retial tips,advice or secrets?

Clothing manufactures?

useful infomation?

Thanks alot

Answer 1

When buying property for your shops keep in mid that renovation is far more cost effective than buying a new shiny shop. If you buy an old property for £250,000 and spend ~£2,000 on renovation, you could end up with a shop that looks exactly the same as if you bought a fully renovated shop for £300,000. Keep that in mind! As for managing the team: always keep in mind that people, no matter how loyal they seem, will try to steal off you. A series of CCTV cameras with a recorder is a must, especially over the till and looking at your products; you don`t want shop lifters. Don`t hold back on giving different members of staff different wages depending on how hard they have been working. Adding such a bonus can be a real motivator and will encourage everyone to work hard. Asd for brands of clothing, budget brands such as TU and Crosshatch are stylish, come cheap and sell well, but the only problem is that you too have to sell them relatively cheeply. If you are looking to sell clothes that are more expensive, the best things to aim at are branded clothing items. These are items of clothing that are made by an almost unknown company and then have a trademark such as the Nike tick or the Adidas symbol sewn on. These sell for a rediculously high price just because of the brand; e.g: wholesale shirt +Adidas symbol: 75p. Retail: £25. Profit= £24.25. People are prepared to pay these ludicrous prices just for the brand. As for retail secrets: make people think they are getting a good deal; one well known and practiced way is to brand some products as `sale` or `special price`, and charge customers the full intended price. If authorities get suspicious, tell them: `I am going to sell this t-shirt for £30, and now it`s on sale at £25`, when infact the off-sale £30 is a rip off and £25 is the regualr price. In your shop you can price things as you wish. It`s always important to stay on top of your accounts. Good luck with the business!