Eight easy steps to launch apparel franchise, Franchise India, Aug 28, 2015
Each investor has his own preferences when it comes to launch an apparel store. Whether you are keen to open a kids store or women’s apparel boutique, do your homework first and then think of investing your hard-earned money. We have consolidated a list of must do’s for investors as suggested by retail experts across the industry. Research
- Explore research reports of well-known consultants to know the current market trends of apparel industry and see what potential it has.
- Conduct a city or market specific research to find out best performing brands, visit the brand’s franchisee-run store, talk to them and know happy franchisees they are and how much returns they are regularly getting.
- Depending on the investment capacity, select the retail format in which you are willing to invest – it can be an exclusive or a multi-brand outlet franchise.
- New franchisees must visit franchise exhibitions and conferences to know about new and existing brands. Exhibitions are a perfect platform for networking and connecting with multiple brands from various segments to know what they are offering to first time franchise buyers. On the other side, conferences help franchisees to meet and interact with company’s managing directors or brand head that guide about the opportunity they are offering to franchisees.
- A franchisee should have some retail experience in managing apparel store as it will be helpful in operating the brand’s franchise successfully.