I recently sat down with one of our clients, Wayne Glassman, and asked him to tell me about his business.
Mike Howard: If we met at cocktail reception or a networking function, how would you describe your business to me?
Wayne Glassman: My business is custom and made-to-measure clothing for men who are interested in finding something different; men who want to avoid the sameness and less than inspiring assortments that are shown in the department and specialty stores; men who need special measurements to get the "correct fit" out of a suit, sport jacket, shirt and even tie, and men who understand the competitive edge that a well-executed outfit or outfits will give them in their professional arena.
MH: What sets your business apart in your industry? For example, what is your personal approach? What are some lines that you carry?
WG: Right now custom clothing is experiencing great growth. Customers appreciate the better value of custom clothing. With custom clothing the customer isn't paying for a company's large marketing and advertising campaign, it's simply the price of the garment without the "marketing overhead". There aren't many layers in custom clothing - it's the manufacturer, myself, and the customer. One of the ways that Wayne Edwards Made-to-Measure is different in the industry is that I take a long term approach to building a wardrobe. I've been in the menswear business for over thirty years and as a result of this experience, I understand and appreciate the way men buy and invest in building their wardrobes. Clothing that was purchased five years ago is still in a man's wardrobe and is most likely being worn on a regular basis. In addition, having a retail background, I am able to bring to the table a stylistic component that most custom clothiers don't possess. Lastly, as a result of my many prior business relationships, I am able to offer both custom and branded merchandise. I have a much wider array of merchandise, greater than what most custom clothiers carry.
MH: Who are your customers or clients?
WG: I've been very fortunate. Most of my clients are people that have been with me for many years. Guys are like that. If you stay consistent and reliable, customers will stay with you. I don't have the exact numbers, but my retention rate with customers is very high.
Of course, like every business, I like to grow, so in addition to the same type of client that has been with me for many years, I've expanded my selection and opened up my price points to satisfy the needs of more individuals.
MH: How do you go about reaching them?
WG: I still have an active customer list that receives both direct mail and email blasts from me regularly. Secondly, as one could easily understand, nothing beats going out, being more visible and meeting people. Lastly, referrals are great way to get new clients.
MH: What are some of the questions you would ask a new client?
WG: New questions for a client would be geared to getting a better understanding of the needs of the customer, the social and professional context in which they operate, and their goals.
MH: Will you share some tips for our readers who are building their wardrobe?
WG:
- Take some time to analyze your needs - both professional and social.
- Do a little inventory of the clothing that has served you, and the outfits that haven't served you, as well.
- Establish your needs and a time frame in which to get them.
- Buy the best quality product that you can afford. Quality lasts, while the price is soon forgotten.
- Take care of your clothes. Hang them up properly, get stains off of them immediately. Dry clean them as infrequently as possible, but whenever you need to.Clothing is an investment, and like all investments, it deserves care.
MH: What are, and have been, some of the challenges your business faces?
WG: One of the many challenges that my business is facing is awareness. Even though we've been around as a company for over three decades, it's only recently that we've been operating in made-to-measure format. The big challenge is to drive awareness.
MH: What are some of the goals you hope to attain within the next year and how do plan to reach these goals?
WG:
- Maintain and develop existing clientele while at the same time cultivate new clients.
- Balance my time and energy so that both audiences can be properly served.
- Systematize my efforts, allowing for maximum time with the customer.
MH: What is the latest business book you have read?
WG: The Game Changer. It was excellent.
MH: Are you involved in good will or community outreach? If so, what do you like most about your efforts?
WG: Once a month I participate in the Jewish Relief Agency. I go out into the neighborhoods and give food to the needy.
MH: What are some of the advantages you have discovered as a result of operating your business from an AEC executive suite?
WG: I like the business support services that are readily available. Being a small independent business, I can focus my efforts on building my business, while having AEC handle the back office responsibilities.
