| Subject | Date Asked | Expert |
|
| Selling in Europe | 3/30/2008 | James E. Dion |
Q: I would like to know if there is a market in Europe for used clothing; especially Jeans. I am ...
A: Tahir, Sorry it took this long to reply. Their is not a large market in Europe for used clothing, ...
|
| How do I determine wholesale price in liquidation/buyout scenarios | 3/28/2008 | James E. Dion |
Q: boutique brand children's clothing. I have uncovered an opportunity to buy directly from a ...
A: Geri, The only way to value any inventory is to start with the market value, not the original cost, ...
|
| licenses/permits need for home based online retail business Chicago | 3/22/2008 | James E. Dion |
Q: I am planning to start a home-based online retail business selling apparell and accessories. I am ...
A: Lauren, You will likely need a generic City of Chicago Business license, it costs $250 for two ...
|
| EBAY STORE | 3/20/2008 | James E. Dion |
Q: I set up an ebay store this January 2008...How can I get people into the store...Most sales have ...
A: Yamilette, I don't know what type of merchandise you are selling. If it is generic like jewelry or ...
|
| Franchising Vs. Business Oportunities | 3/20/2008 | James E. Dion |
Q: My fiancee and I are torn between these two: Apricot Lane (Franchise) or Homes Stores Plus (business ...
A: Yamilette, Franchises offer a benefit to a owner when they provide something that the owner cannot ...
|
| Selling to Boutiqe Shops | 3/11/2008 | James E. Dion |
Q: I've recently started an apparel line and have had inquiries from boutique shops interested in ...
A: Peter, Yes, you would not sell to them at retail value, Your wholesale price to them should be ...
|
| Selling to Boutiqe Shops | 3/10/2008 | James E. Dion |
Q: I've recently started an apparel line and have had inquiries from boutique shops interested in ...
A: Peter, a. as you are the "retailer" as it applies to your web site, the 60% margin you earned is ...
|
| Can a retail store ask people to leave? | 3/10/2008 | Lisa Fortin Jackson |
Q: We own a large 4story antique mall in the downtown Kansas City area and have numerous problems with ...
A: Denese... I am so sorry it took so long for me to answer your question. I've been sick for the ...
|
| jewelry business | 3/9/2008 | James E. Dion |
Q: I've started my own jewelry collection. I have a website with a jewelry portfolio, and will add ...
A: Sara, Established stores generally deal on Net 30 day payment terms and most will even try to ...
|
| jewelry business | 3/9/2008 | James E. Dion |
Q: I've started my own jewelry collection. I have a website with a jewelry portfolio, and will add ...
A: Sara, You can offer volume discounts, for example, twelve of an item would be 5% off. However, you ...
|
| jewelry business | 3/9/2008 | James E. Dion |
Q: I've started my own jewelry collection. I have a website with a jewelry portfolio, and will add ...
A: Sara, Congratulations on your new business! Jewelry retailers generally like at least 50% margin ...
|
| Clothing Store inquiry | 2/26/2008 | Lisa Fortin Jackson |
Q: my name is De'Aaron Zeigler. I want to open up a clothing store. I'm eighteen years old and a ...
A: De'Aaron, Kudos to you for knowing what you want and going for it! It sounds as though you are off ...
|
| Regarding job post | 2/23/2008 | James E. Dion |
Q: I am student of 2-years fulltime MBA Retail Management, what kind of job n post could i get?
A: Jesal, That depends on what type of retail you want to get into. Some large companies have ...
|
| Regarding the U.S and European markets | 2/20/2008 | James E. Dion |
Q: What are the different seasons for the U.S market and the European market? When do the goods hit the ...
A: Sharon, Holiday is generally the Christmas season and in fashion it is both special occasion as well ...
|
| calculating markdowns | 2/19/2008 | James E. Dion |
Q: I am in the process of gathering information to do my financials, budgets, open-to-buy. I am ...
A: Robin, There is no industry averages for markdows by month! It totally depends on what type of ...
|
| calculating markdowns | 2/19/2008 | James E. Dion |
Q: I am in the process of gathering information to do my financials, budgets, open-to-buy. I am ...
A: Robin, You do not need to add markdowns as they are at retail value and have no material effect on ...
|
| what can i do about all movies that are rented and never returned? | 2/13/2008 | Lisa Fortin Jackson |
Q: i have a video store and was wondering what i can do with all the rentals from people that never ...
A: I feel for you. As a small business owner, you are in a very tough situation. It's difficult to ...
|
| Merchandise from China | 2/7/2008 | James E. Dion |
Q: I met a man from China who is going to college here in the USA who sales items his family makes in ...
A: Diana, That is a completely different situation. Are you prepared to hold inventories? Assume ...
|
| Merchandise from China | 2/7/2008 | James E. Dion |
Q: I met a man from China who is going to college here in the USA who sales items his family makes in ...
A: Diana, Does he sell these items to companies who then re-sell or use them? Or does he sell direct ...
|
| Wholesale | 2/6/2008 | James E. Dion |
Q: James, I guess in regards to my last question I have found a price point where I will obtain a 60% ...
A: Terrance, Sorry for taking so long to reply. I thought that this was just a follow up answer from ...
|
| Wholesale | 2/6/2008 | James E. Dion |
Q: James, I guess in regards to my last question I have found a price point where I will obtain a 60% ...
A: Terry, Unless your name is Armani or Lauren you are not likely to get 50% on wholesale! Much more ...
|
| Clothing retail markups | 2/6/2008 | James E. Dion |
Q: I am looking into creating a clothing label which focuses on luxury mens dress shirts. I will be ...
A: Terry, A better question would be, why would someone pay you $190 for the shirt? Is it a name brand? ...
|
| Licensing for online retail store and E-Bay sales | 2/3/2008 | James E. Dion |
Q: I'm trying to open a online store and sell my products on E-Bay. I'm not sure about licensing that ...
A: Harold, Unless you are carrying some very specific items (guns, ammunition etc.) you should not need ...
|
| Price justification | 2/1/2008 | James E. Dion |
Q: Today we had a customer come in who complained about the price of a particluar item. She saw it ...
A: Robert, You are so right. She is buying Travel Essentials and all that you do for your customers. Do ...
|
| i need help | 1/29/2008 | James E. Dion |
Q: how will i go by starting my own clothing store financial wise?
A: Malcom, It depends on what type of clothing and if you will be in a mall or storefront. You can ...
|
| CPA's | 1/27/2008 | James E. Dion |
Q: Dion, Christina again. I am meeting with some CPA's this week and was wondering if you can tell me ...
A: Christina, About $60 to $80 per hour is what you should be looking at for a good CPA. I would limit ...
|
| EIN | 1/23/2008 | James E. Dion |
Q: I have another question about the EIN. Why do I have to have both a tax ID number and an EIN? Can't ...
A: Christina, Some suppliers will accept a tax ID number (which is often issued by the state) but many ...
|
| EIN | 1/22/2008 | James E. Dion |
Q: My husband and I are opening a small clothing store in Tennessee. We will be the only employees. Do ...
A: Christina, Are you setting up the business as a corporation? As an LLC or partnership? I would ...
|
| Which to do and how? | 1/21/2008 | James E. Dion |
Q: I would like to open my own business. I have never done so before and would like some advice about ...
A: Rose, Starting a retail business today is not very easy. Banks almost never loan money for new ...
|
| cost of lease and % of sales | 1/18/2008 | James E. Dion |
Q: Ok so I'm in the process of completing a business plan for retail childrens store. I have looked at ...
A: Julie, There is no way that 36% is acceptable. You will set yourself up for bankruptcy in a very ...
|
| Margin | 1/17/2008 | James E. Dion |
Q: When you refer to margin of 60 % for retailer do you refer to mark up on cost (meaning the gross ...
A: Denis, Margin in retail is always expressed as a percentage of retail selling price, never cost. So, ...
|
| obstacles facing a start up | 1/15/2008 | Lisa Fortin Jackson |
Q: I ran across your web site this afternoon and thought you might be able to give me a bit of advice. ...
A: I'm not sure I'm the best person to answer your question, since my expertise is primarily in store ...
|
| Starting a Home Accent Boutique - Start -up Question | 1/13/2008 | James E. Dion |
Q: I am in the planning stages of opening a Boutiqe that sells artwork, lamps, rugs, and hand crafted ...
A: the highest concentration of home suppliers is in New York and Chicago. You can search them out on ...
|
| 6 Month Merchandising Plan / Open to Buy | 1/12/2008 | James E. Dion |
Q: I'm in the process of opening a childrens retail shop. I'm having some trouble completing my 6 month ...
A: Julie, Your EOM is decided by you based on what inventory turn number you are trying to achieve. ...
|
| Is Restaurant Business a Retail Business? | 1/9/2008 | James E. Dion |
Q: The question is quite simple - does owning some restaurants mean I'm in a "Retail Business"? If not ...
A: Ash, Technically you are not in the retail business, you are in the restaurant business. Although ...
|
| Getting Retail Stores as Clients by Mail Out from Australia | 1/4/2008 | James E. Dion |
Q: I am producing a line of New Age oriented art bookmarks I'd like to get sold in retail stores across ...
A: Nelson, you have a very interesting business plan, unfortunately for every 100 you mail you will be ...
|
| math homework need to b answer asap | 12/31/2007 | James E. Dion |
Q: What is the difference between markup and markup rate?
A: Danielle, Markup is the amount added to cost to determine selling price (the technical definition) ...
|
| clothing question | 12/28/2007 | James E. Dion |
Q: Good morning. My name is Craig Almaguer. I've started a clothing line geared toward the active ...
A: Craig, I am sorry for the delay in responding, I am traveling in Italy at the moment. When you say ...
|
| Wholesale to Retail Markup | 12/19/2007 | James E. Dion |
Q: I am importing a new product into the US market. It's an electopneumatic jack. An automobile jack ...
A: Roly, A retailer will expect at least a 35 margin on this item (that is 35 of selling price) and ...
|
| Diversity in Fashion Merchandising | 12/13/2007 | James E. Dion |
Q: Mr Dion, I am currently a Fashion Merchandising student and I am working on a project trying to find ...
A: Cassie, The concept of diversity in fashion is more around inclusion of people of color or race and ...
|
