The reason that people start their own business is because they aim to have a larger income than of that if they were an employee. Being your own boss has its many benefits including having the advantage of knowing that the profit generated from the business will be yours in the long run.
Most clothing retailers obtain inventory by purchasing bulk and wholesale lots of clothes from various suppliers, manufacturers and distributors. Buying wholesale is essential in order to make a profit, enabling the most successful clothing sellers to mark up their purchase prices significantly. If you’re looking to sell clothing and buy wholesale merchandise, there are several things you should be mindful of before starting your business.
Target a niche for your clothing business to help you distinguish yourself from other clothing sellers. For instance, you can specialize in selling children’s clothing, clothing for teens, plus size clothing or suits for men.
Obtain the permits required in your area to run a retail business, such as an assumed name certificate, resale permit or sales tax permit. Such business documentation will be necessary in order to open wholesale accounts with clothing suppliers.
Find selling venues for your clothing business. The most expensive venue is a traditional, physical store. Less expensive options include mall kiosks, your own e-commerce website through a company such as Core Commerce, online marketplaces, such as Bonanza, Internet auction websites like Ebay, and local flea markets.
Secure a storage area for your merchandise, if you will not be opening a brick-and-mortar storefront. A commercial storage facility or warehouse would work, but you can start with a spare, clean closet that is free from odors, sunlight and pets.
Make a list of clothing brands you would like to sell. Think about your niche and the image of the brands you want to sell, because this will be a key consideration for your suppliers before they will do business with you. For example, if you plan to primarily sell discount or off-brand clothing, a luxury brand would be unlikely to align with your business, since your image wouldn’t align with …