Franchise Spotlight: Clothing and Accessories
Clothing and Accessories industry trends show that this is a sector teeming with franchise opportunity.
With an average annual expenditure on clothing and accessories of CA$3340 per family, the clothing and accessories sector is a lucrative one for franchisees to invest in. Clothing retail sales in Canada were over CA$35billion in 2019 and that figure looks set to continue rising. With more consumers looking to buy clothing and accessories (including shoes, belts, jewellery and bags) online, franchisees will need to explore the digital options available to them.
For those interested in owning and managing a brick and mortar store, there are a range of possibilities, but be sure to research the company's e-commerce options and strategies to safeguard your business in the future. Some franchisees might choose to invest in an internet-based model, selling clothing and accessories online. They will need to be aware of the space and time required to stock and distribute products.
Plato’s Closet and Style Encore have both taken advantage of the ‘resale retail’ movement which has capitalized on consumers’ desire to reuse and recycle clothing rather than buying new. Franchisees can expect full training to set up their own store and establish their business in a chosen location. For shoe fans, the franchise Pop Shoes has marketed itself on being able to provide footwear for the whole family.
Clothing and Accessories Industry Analysis
For franchisees with a passion for sales and a focus on consumer satisfaction, the clothing and accessories sector is an exciting one to join. Entering this competitive sector alone can be daunting, and finding a niche, managing a budget, researching locations and establishing and marketing a brand can all seem unachievable for those new to the industry. This is where the established brand and support of an existing company is invaluable.
Franchisees looking to invest in this sector will need to consider the range of options available to them. Owning and managing a store is a hugely rewarding but demanding job, but it is not the only way to build a business in this sector. With more people shopping online than ever before, the options for franchisees to run e-commerce businesses are also growing. There is no doubt that the clothing and accessories industry is a lucrative one to enter and for those with a passion for clothing and sales, there are many exciting opportunities.