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DuckManiak
LSU Fan
Ponchatoula
Member since Nov 2011
1494 posts

My wife to branch off and open a business.

My FIL owns a gentlemans clothing store, and she has worked for him for several years. He is a true business man, and is willing to help my wife open up a dress store to branch off from his store. He has told her to do her own research, but we really don't know where to start. He's pretty busy to sit down and explain everything we need to know. Of course he will help her, but I'd really like to get prepared myself, and help her in any way possible. Anyone who has opened up a business branching off of another... Please help! Where should we even begin? I have no business experience, so please keep it in laymen's terms. I appreciate any help I could possibly get.


Meauxjeaux
Memphis Fan
90248 posts including my alters
Member since Jun 2005
19171 posts

re: My wife to branch off and open a business.
1- Buy low
2- Sell High
3- ???
4- Profit!


Im4datigers
LSU Fan
Northern Virginia
Member since Oct 2003
3076 posts

re: My wife to branch off and open a business.
This isn't going to end well.


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StrangeBrew
LSU Fan
Salvation Army-Thanks Obama
Member since May 2009
14409 posts

re: My wife to branch off and open a business.
I suggest a duck call company. Import from China and undercut the other guys.


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Gujam8
Member since Jun 2010
2361 posts

re: My wife to branch off and open a business.
quote:

help my wife open up a dress store to branch off from his store


Same location? name? ownership? capital? How is he "helping"


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tiger91
LSU Fan
South of Lafayette
Member since Nov 2005
14168 posts

re: My wife to branch off and open a business.
Some of this may be good info but I don't have a clue

Was watching WAFB last night and on their money segment I briefly caught a blurb about check out our money page for info on starting a business ... check it out. There maybe good stuff here. Good luck!


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braindeadboxer
LSU Fan
Utopia
Member since Nov 2011
5015 posts

re: My wife to branch off and open a business.
He should be able to breeze through the legal/business side of things. That'll be the easy part. He most likely means for you to find a location, research who you'd be best at marketing towards, decide on suppliers (will you purchase a franchise/sell low end clothing lines/sell finer clothing lines)... etc. Take a look at competitors. Is there a mall nearby? If so, why would a lady want to dress shop at your store if they can get the same quality at Macy's for cheaper (you won't be able to compete with Macy's unless you can import directly from China and avoid a wholesaler, yes even a wholesaler costs more than importing straight from a sweatshop with whom you have a contract). So basically you need to decide if you are going to run a boutique or a Marshalls type store. Don't let this scare you, with a smart business plan, great location and lots of researching ahead of time you can make money. You mentioned your wife worked with him. I assume she is familiar with his designers and suppliers. See what they offer and then shop around from there.


DuckManiak
LSU Fan
Ponchatoula
Member since Nov 2011
1494 posts

re: My wife to branch off and open a business.
He owns a strip mall where she will be opening, so the rent will be cheap. It will be a dress/clothes shop. He rents tuxedos and sells suits, and a lot of them are homecoming/prom. There are no dress shops where we live (boutique style). The only homecoming/prom dress store is Dillard's. He also sells Polo, Southern Tide (just a few of the "big name" clothing he sells.) We were also thinking she could sell women's Polo because the closest place to buy women's is in Gulf Port at the outlet mall. Are there any good business books anyone would suggest on how to properly run a private business? There is money to be made, but I'm just thinking of the reprocussions if it weren't to work.


wrlakers
LSU Fan
Dallas
Member since Sep 2007
4683 posts

re: My wife to branch off and open a business.
quote:

He owns a strip mall where she will be opening, so the rent will be cheap. It will be a dress/clothes shop. He rents tuxedos and sells suits, and a lot of them are homecoming/prom. There are no dress shops where we live (boutique style). The only homecoming/prom dress store is Dillard's. He also sells Polo, Southern Tide (just a few of the "big name" clothing he sells.) We were also thinking she could sell women's Polo


Flashback to Todd Garland and FRD over in the strip where Murphy's was.

Anyone else?


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