Thoughts on Opening a Children`s Specialty Store

jsather4

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

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!