Managing Your Clothing Business – Dressing For Success

Okay you finally opened up your store, things are on track and for the first time you can breathe a sigh of relief, but the fun doesn’t stop there. Managing your own clothing store can be a very joyous endeavor. You will find that running your clothing store won’t be as difficult as running a Fortune 500 company. Not just yet, anyway, but it does have its own set of rules, circumstances and tricks that need to be followed and improved on. In this article I’ve outlined some basic tips and tricks to help you dress for success in your clothing business.

If you are new to the business world, and not too sure about bookkeeping, especially if you don’t think this is very important, you should possibly look into hiring a manager. Even if it is just part time, to help you with this. Not keeping your books up-to-date and up to scratch will have very serious consequences for you in the future. I always like to think at the back of my mind that it wasn’t the FBI that caught Al Capone, it was the IRS on tax evasion. Hiring a manager also allow you more time to concentrate on the stock that you want and need, and ensuring your price structure is the way you want it. A good manager can also help you deter theft from customers and staff or help spot theft trends, allowing you to put a stop to it. You should expect to have certain losses year in and year out, whether from closing returns that you were unable to send back to the distributor or from those spare clothes that you took off the shelf that have vanished. Keeping theft down to a minimum, or none at all is an ongoing concern.

Something else you can also do that will help you in the short and long run is to get your customer’s feedback. Do you have the styles of clothing and the sizes your customers are looking for. This is pretty important; because people don’t buy what they don’t like. There is an old saying in politics, “People’s legs will do the talking”, so if you’re not selling anything that they want in the store they will be walking out. Don’t forget, you can add accessories to your clothing lines. This is a handy way to make quick money and also to keep the customers coming back, like necklaces, jewelry, earrings, watches etc. The type of products that you keep in your store will also attract the type of clients you get. Remember if you keep budget products, you will have customers with budget needs. If you keep high end products, you will attract customers with high-end means and if you keep cheap products, that’s right, you guessed it.

Advertising is another issue that you need to address. you should try and look into free and online advertising and make sure your website, if it doesn’t sell clothes – it’ll have all the information of your store on it.