Dedicated to providing flair to his customers’ wardrobes, Travis Shuler is the visionary entrepreneur who designed Columbia, South Carolina-based Suit Yourself Menswear. As the owner of this stylish haberdashery, he caters to what he describes as “the complete man,” offering a curated selection of men’s clothing services.
Shuler’s journey into entrepreneurship is as unique as his store. With a background in software development spanning 17 years, he took a remarkable leap into the fashion industry. Combining his proficiency in tech with a passion for clothing, Shuler initially launched his apparel retail operation as an e-commerce platform.
His transition from a corporate professional to a full-time entrepreneur was a byproduct of his development of that online side business. It eventually emerged into a full-fledged venture when he gained store space through attending a local Black Pages conference and then a major apparel industry conference in Las Vegas. Through his research, he discovered that operating a brick-and-mortar store was the logical next step, and he opened Suit Yourself Menswear in March 2011.
The venture would also serve as a critical wealth-building and financial education vehicle.
Shuler was challenged in the early days of entrepreneurship with learning the ebbs and flows of the industry, especially as he tackled the holiday season during the store’s inception. However, with a focus on marketing and experimental strategies, he overcame the hurdles of the first year. In its 14th year in business, he proved Suit Yourself had staying power.
His lifelong focus on learning about money management strategies is vital to his success. Just as his mother, who had a love for fashion, inspired him, in part, to start his business, she also taught him about the value of financial planning at an early age. He discovered the value of such expert counsel when he shifted from a salaried employee to a business owner who took close to a 50% pay cut and was forced to fund his own paycheck and that of his employees.
He says: “I reinvested the money back into the business for a long time. The irony is I just gave myself a raise four years ago from the time when I quit my job. I’m in year 14, so I worked 10 years without a raise.”
During the same period, he began taking a diversified wealth-building approach: seeking out experts, devouring personal finance information, setting up an investment plan for retirement, and developing multiple streams of income. The Gen X entrepreneur has also been driven by creating generational wealth for his wife and two sons, aged 19 and 21.
“In terms of wealth-building, I encountered different terminologies that were unfamiliar to me in the corporate world. This sparked my interest and led me to explore various avenues, including insurance as a form of wealth building and management,” he says.
The exploration of these options set the foundation for his strategies. He adopted an asset allocation plan that included real estate, investments in stocks and cash. This mix has served as a part of his financial blueprint.
He explains: “My approach to wealth building has changed from the perspective of when you work for someone, you’re getting a check, and you’re taking a percentage of your check, and you’re saying, ‘OK, I’m going to put this in my 401(K).’ I did actually sit down with a financial planner about a year before I actually quit my job, and he talked about a couple of different avenues for entrepreneurs like self-employment pension plans.”
Such practices are important as he also pursues the other planks of Suit Yourself’s mission, he asserts, extending beyond apparel sales, revenue growth, and personal enrichment. He seeks to continue to use his store to positively impact the community, partnering with organizations such as Men of Hope, a prison ministry. It donates a substantial amount of clothing to individuals transitioning out of prison to provide them with the attire needed for job interviews and boost their self-esteem.
“We’re not just about transactions; we’re about relationships. Over the 14 years of Suit Yourself, we’ve served at least 10,000 individuals, emphasizing the importance of relationships over monetary gains. Life is about connections, and I firmly believe relationships are 10 levels above money. If you have the relationship, you’ll have the resources,” he says.
Shuler maintains that he is not just selling clothes: He’s in “the business of empowerment, compassion, and building lasting connections within the community.” Suit Yourself Menswear is a testament to his ability to leverage technology with style, creating a unique space where men can express their individuality through clothing and where community impact is as significant as the threads on the racks.
For more content Click here please visit our Plan to Prosper page.