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Your target audience determines almost everything else about your store, from the products you carry to the location of your storefront. Start by brainstorming who you'd like to market to. Then use that decision to make other decisions about your store. Think big at first. Do you want to appeal to men or women? Then get more specific. Think about what ages, professions, and styles you want to appeal to. To start, go by what you know. If you worked in a store that sold suits to businesspeople, then you already know that market. Consider entering a field you have experience in like this. Consider where you might make the most money. Business suits might not be in high demand in a small town. But you may get a lot of tourists in the summer. In this case, it may be better to open a store geared to tourists. Location is one of the most important early decisions you'll make in opening your business, so conduct careful market research. Look for a location that has a good foot traffic to get your first customers. Look for other businesses like yours. Small businesses often cluster together to attract as many customers as possible, so this may be a ready-made location for you. Don't locate yourself too close to identical stores. If there are a lot of other small clothing stores in the location you're looking, this market may be too saturated. Consider finding a different location. If you're marketing to tourists, for example, then locate your store near the main attraction areas. For good foot traffic, open the store near restaurants and coffee shops. Places where people visit often can bring in a lot of window shoppers. Find out what the rent is in every area you look. This will be a big expense, so don't overlook it in the planning stage. Big department stores offer all the big brands at low prices, so your store won't stand out if you try to follow that model. Think about what would set you apart from larger competitors and other small businesses. Carry brands or products that department stores don't, or develop a specialty in a field that your area lacks. One good angle is carrying brands made by local manufacturers. This gives a much different flavor to your store than someone could get at a large retailer. Your town may have a lot of off-brand boutique stores, but perhaps they lack a maternity store. This could be where you make your niche. Remember that starting any business is a risk and many small businesses fail. Don't let this discourage you, but also have backup plans in mind in case the business doesn't work out. Have emergency savings to cover 6 months of living expenses if you have to find a new job. Remember that clothing stores usually have smaller profit margins than other businesses. Get into this because you love the industry and want to work with people. This passion will help you deal with below-average profits.
Identify your target audience. Investigate potential locations for your store. Find a specialty for your store's merchandise. Develop a backup plan if your business isn't successful.