childrens designer clothes shop

diane70

HI All

I have just been made an offer I dont want to refuse, a friend is selling her childrens designer clothes shop and this is something I have wanted to do for ever.

I know a bot about what I would have to do, been researching online, suppliers, advertising, monthly outgoings etc

does anyone know if I could get any help as I have no money so would have to get a loan etc

I am 38 so not sure if I can get a grant or anything?

thnaks diane x;)

Paparika

not able to help, just really wanted to say in this climate are many people buying designer gear for their kids?

diane70

i know what you are saying but people are still buying, was thinking of the cheaper designer clothes up £30 dress £15 tops nothing like cakewalk or oilily. was also thinking of making bits & bobs as i am creative and i can design etc.
i would be the only shop selling designer clothes in that town as all the others have shut down due to them selling old fashion, overpriced stuff etc.

max2009

Have you asked her why she is selling her shop ? Have you had an accountant go through her books to see how the business is doing ?

nomoneytoday

Exactly - if the business is doing so well, why did all the others go down, why is she selling, and what can you do differently to make the business work better?

This can be done with cash flow forecasts, market research data and so on.

For example, I can buy a tshirt for my 2 year old for £5 in Primarni, or a similar price in the Next sale. What would you do to encourage me, and 100 others, to spend my money in your store?

max2009

It sounds to me that the council in the area have pushed up the rates and it has put pressure on the other shops.On top of this the seller is making an offer that the OP does not want to refuse,suggesting ulterior motives here.The amount of fake designer goods has put huge pressure on the designer clothing industry.
Due to the credit crunch i would have thought there would have been a huge downturn in business as parents buying their kids designer clothing would have been well down on their list of priorities.Finally the OP has no money and his relying she gets a loan which is a very dangerous move in this current climate.

diane70

nomoneytoday wrote: »

Exactly - if the business is doing so well, why did all the others go down, why is she selling, and what can you do differently to make the business work better?

This can be done with cash flow forecasts, market research data and so on.

For example, I can buy a tshirt for my 2 year old for £5 in Primarni, or a similar price in the Next sale. What would you do to encourage me, and 100 others, to spend my money in your store?

I know what you are saying, but not everyone wants a special outfit from primark or next.........I would also sell items I have made myself.

She is selling as her heart was never in childrens clothes anyway and she doesnt advertise, I would advertise and give out leaflets at the local higher education college near by, i have worked for her a few times and people dont even know she is there etc.
I would also stock prams as there are no pram sellers in our town only argos etc.....................


I do understand what you are all saying and I will not jump into anything head first, just wondering if there is help available???

max2009

You are best first of all asking to see all the figures since she started the business.Do you or your partner work already ? You said the woman did not advertise but you will not be able to afford decent advertising anyway until you build up some money.You will find it very hard to get a loan especially if you mention that you are going to use the loan to set up a business like this.Sorry for sounding so gloomy but you need to do a lot of research before jumping in head first.