Clothes Shop Franchise Businesses in the UK
The womenís clothing market grew by 3.2% in 2017 to reach £28.4 billion according to Mintelís UK Womenswear Report 2018. Experts anticipate that the market will continue to grow by 14% between 2018 and 2022 to reach £33.5 billion as women prioritise clothes shopping despite economic uncertainty.
The findings are supported in research commissioned by Ariel, which discovered that on average, Brits spend £1,042 per year on their wardrobes. And although men tend to spend slightly more on their clothes, women still shop the most. On average, women own 95 items of clothing yet only tend to wear 59% of them on a regular basis, while men own 56 pieces and wear 62% regularly.
Where to shop for clothes
Whilst women are spending money on clothes, their shopping behaviour is changing. Women are choosing to bag a bargain by buying items for their wardrobe in supermarkets or visiting luxury retailers for the experience and good quality. This has left more traditional clothes shops, such as Marks & Spencer, losing out as it is neither cheap nor high-end.
Shoppers no longer invest in a few quality pieces of clothing and wear them for years. Consumers want to buy the latest fashions and are put off by the fact that investment pieces are harder to care for, often needing to be dry cleaned after every wear. The trend has definitely moved towards Brits wanting new clothes and plenty of them.
This demand for fast fashion has resulted in Primark overtaking Next into second place for market share sitting just behind Marks & Spencer. The fact that Asda and Tesco are also in the top ten clothing retailers by market share also demonstrates that consumers expect good value from a clothes shop and also want convenience.
And itís this need for convenience that has also seen a rise in the popularity of online clothing retailers. Brands such as ASOS, Boohoo, and Missguided are all performing well as the younger generation increasingly shop online for clothes. Mintelís research highlights that 63% of female shoppers aged 16-24 agree that itís much less hassle to buy clothes online compared to physically visiting a clothes shop.
Womenís clothes shop
If you think youíve got what it takes to start your own womenís clothes shop business, here are five steps to follow:
1. Decide on your target market
Before you start out, youíll need to give some thought to what type of clothes shop youíre going to open. Will it cater to the needs of men, women, children or a combination of all? Are you going to offer quality items of clothing or tap into the latest fast and cheap fashion trend?
Your success will depend on you really understanding what your target market wants and how you can meet their needs. Do plenty of research on your competition, what their brand stands for, and how much they charge for their clothing. Youíll need a differentiator to stand out from your competition and to be a success.
2. Write your business plan
A business plan is an important document, which sets out your goals and how youíre going to achieve them. The purpose of a business plan is to provide a blueprint of your objectives and ambitions with a guide for how youíre going to get there. Developing a business plan encourages you to think about the types of hurdles and opportunities that you may come across when setting up and running your business.
3. Organise your business
Whilst youíre writing your business plan, youíll have the chance to think about how your clothes shop will be organised. Here are some questions that youíll need to answer before you get started.
ē Where will your clothes shop be based? Will you start your business online and move to a physical store if youíre successful? If youíre renting a retail outlet, is it well positioned to attract passing trade? Is there good parking and public transport links?
ē Will you run your clothes shop or will staff manage the store on your behalf? Have you got all of your key contacts in place including an accountant, a solicitor and suppliers?
ē Have you got a sales and marketing plan in place? How will you create a buzz around your brand?
4. Create your brand
A recognisable brand is one of the most valuable assets that your business can own. According to a Nielson survey, 59% of consumers prefer to buy from a brand that is known to them. In order to compete with bigger brands, itís important that you create a brand that will set you apart from the competition.
Create your mission statement, be clear about how your brand can benefit potential customers, design an eye-catching logo, and form your brand voice that will be instantly recognisable to your audience. Once youíve achieved this, ensure that your brand is integrated into every part of your business.
5. Launch your clothes shop
Itís almost time to launch your new business, so youíll need to decide on the finer details before you open your doors for the first time. Think about how youíll price and market your products to get your clothes shop off to the best possible start. Plan ahead with your suppliers so you donít experience any stock issues once youíre up and running.
Of course, if the idea of creating a clothes shop from scratch is daunting, you could always invest in a franchise instead. This way youíll still get to be your own boss but the business model, brand, pricing strategy, and marketing plan will already be developed for you.
Womenís clothes shop franchise opportunity
Noa Noa is a fashion franchise aimed at the female market and specialises in modern, bohemian styles that demonstrates confidence and an appreciation for self-expression. The brand has stores in 20 countries, boasting more than 60 unique concept stores and an additional presence in over 400 multi-brand stores.
Becoming a Noa Noa franchisee requires between £50,000 and £100,000 of investment. This gives you access to the comprehensive Noa Noa franchise package along with the right to trade under the reputable brand name.
Youíll receive a considerable amount of support to get your new business off the ground. Training is provided covering essentials like purchasing analysis and planning, marketing, visual merchandising, and how to recruit and train your employees. A designer and visual merchandiser will also visit your store before your launch to ensure that it looks perfect for your opening day.
The Editorial Team, Point Franchise ©
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