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Thoughts on Opening a Children`s Specialty Store

 
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jsather4

posts: 1

Mar 08, 2008 10:10 PM ET    Quote  Report Abuse
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Hello.  I am new to the community, it`s been great reading through all the threads.  A lot of useful information!
 
I wanted to get your thoughts on the timing of opening a specialty children`s store.  I am thinking of mostly offering clothes, but also having books, toys, etc.  I would be opening it in a community of that has around 50,000 for a population, with 1/3 of the population under 18.  By 2020, it is supposed to be around 80,000.  The competition is mainly national chains - Gap, Gymboree, etc that are located in malls.  I am pretty financially secured and I really have a passion to start a business that deals with children. (I have a 1 and 4 year old.)  I know the economy is not the greatest, so I am wondering if this would be a good time and ideal situation to start a business like this.
 
Any thoughts would be appreciated.
 
Thank you very much.
 
John (Minneapolis/Saint Paul, MN)
MizE

posts: 7

Mar 08, 2008 11:21 PM ET    Quote  Report Abuse
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Here is my opinion, but I am speaking as someone who is not an expert (just a fellow parent of young children!).  Price, quality, and comfort would be the most important considerations for the clothing.  What market would you be targeting?  There are some specialty shops that offer expensive clothing for children that is just not what children want to wear.  Those are what I consider to be grandma/gift clothing . . .things that make the buyer (who has money to spend) feel good but are just not practical.  I think this would be OK in a tourist area with a lot of wealthy older people, but other than that, no.

Then there are the cute but very expensive clothing lines that children would want to wear.  If you live in a predominantly affluent area, this would work.  I do think it is hard to start off this way, to get people to spend a lot of money on clothing without brand recognition.

For me, a place like Gymboree really works.  I find that the clothing lasts through multiple children, the sizing is consistent, the clothing is appealing to both my children and to me (no revealing/trying-to-grow-up-too-soon lines), AND they have really fabulous sales.  The sales are key.  I like Hanna Andersson but the clothing never really goes on sale the way Gymboree does.  I would love an alternative to Gymboree, though, since I would like variety!

Best of luck on whatever you decide!



CraigL

posts: 9051

Mar 09, 2008 2:02 PM ET    Quote  Report Abuse
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I`m going to echo MizE. Your target market doesn`t seem well determined yet. You`re not going to sell to kids, so what sort of parents do you have in mind, and how would you persuade them to detour from the malls?

Additionally, although right now you`re interested in 1-4 yearolds, is that because of your own kids? What happens when your kids are 12-16? Would you then want to open a "teens" store? I`m not saying you`ll reduce your passion for the toddlers, but I`m only suggesting that you do some meditation on how much of this is an internal passion versus a reflection of the fun you`re having at the moment, raising your own kids. :-)

In your description above, you haven`t really "sold" an idea, y`see? You`ve described a store in general, but haven`t explicitly laid out your "mission statement." If you haven`t yet seen that core idea, that`s where you`ll want to put your efforts at this stage. You`re looking to write down in 25 words or less, "The Big Idea."

What unique concept are you seeing in your mind`s eye that you`ve had a hard time seeing in reality? That`s the underlying foundation of a big idea.
winston2

posts: 122

Mar 09, 2008 5:54 PM ET    Quote  Report Abuse
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With the economy in bad shape I would consider starting a children`s consignment store. You could be very picky as to the used cloths parents bring in thus keeping the quality high. Also you could sell used children`s beds, play pens, strollers etc. Then as you grew you could take on lines of new children`s cloths. This way you would not need a lot of money for inventory etc.
Winston
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