A boutique is usually something that is custom made. There can be a boutique restaurant, a clothing store, a hotel, anything. But in general terms, a boutique is understood as a fashionable clothing and accessories store which keeps customized items. We will talk about a boutique clothing store.
Also Read:- How To Start A Bakery – Pro Tips
Owning a boutique makes it a little bit more classy. It gives you the opportunity to distinguish your clothing from others. Many women love to be exquisite, unique and classy. They always try to find clothes not owned by some other women. With a boutique, you can design your own clothes and provide a push to your confidence about your choice of clothes.
Here we will guide you on how to open a boutique and run it successfully. Let’s check out expert advice and tips but first, it is important to know the types of existing boutiques.
1#. Choose your Boutique Type
1. Buy and sell boutique
In this type of boutique, an owner buys clothes and accessories from a merchant or a seller or a distributor and sell it at a higher price, keeping a good profit margin for him. This is a headache-free system if you have money to invest. It takes quite a huge investment at the beginning because you need to buy the clothes. You can’t just stock up a few clothes, you need a variety of clothes for the customers.
2. Retail outlet
This is quite a lot because here, you are the manufacturer and seller both. You manufacture clothes and accessories and sell the products at your store. This needs heavy investment because you have to buy fabrics and use machines and keep employees, you need employees for packaging and then comes the selling part.
3. Consignment boutique
You can buy products from manufacturers or designers and stock them up. When you sell them, you have to share your profit percentage with them. This does not need huge investment and you will not be able to make a huge profit out of this system.
4. Franchise boutique
In this system, you will operate and advocate under a brand name. You can only sell their products and not any other. Also, you will have to pay a large sum annually to the company and buy products from them too. You have to set up your store according to the company’s needs, spread brand awareness and make some sell to earn a profit.
Well, these are the types of boutique systems you are looking forward to. Choose what system suits you best.
2#. 10 Steps Associated with Opening a Boutique.
1. What’s your vision?
Every entrepreneur needs a vision, otherwise, they get lost in the maze. Therefore it is very important to plan your business. Think about your finance, the types of clothes you are about to sell, the systematic approach you are about to take up. You need the money and if you have a shortage of it, get business loans.
2. Deciding locations
A boutique is a costly business, therefore it would be best if you can open a store in the heart of the city. If you are lucky, you might get rent with a moderate investment but if not, be ready to pay quite a large amount monthly. But you can be saved from this extra horror every month if you can set up your store at your home which needs to be obviously in the city.
You will need a parking area for your customers and also an interior decorator. You can’t just set up a store, you need to decorate it. For expertise, help consult an interior decorator.
3. Deciding a name
A boutique should always have a fancy name. A name that is elegant, classy and something that represents your store collection. Also, you need a logo to represent your store’s soul. A logo that represents your collection and as well can stir emotions within your customer.
4. What about finance?
Have you decided about the financer yet? A boutique requires $60000 to $100000. It’s huge, but if you don’t have the money, find your financer. That’s what banks are for. Take a reasonable amount of loan because you will need it. You will have to pay rent for your store, pay your employees, pay for maintenance and also the electricity bill will be huge. Therefore you need proper planning.
5. Did you think about marketing?
Marketing has a very important part to play in every business plan. Today is the age of social media, do we need to worry about our business? Utilizing Facebook and Instagram to make your store popular. Engage with your viewers and provide discounts. Play various quiz games related to fashion.
6. Decide your customer base and ways to maintain it
A boutique clothing customer generally belongs to you the higher strata in the society. The clothes and accessories a boutique keeps are specially designed and made on personal request. It takes a lot of time, money and resources to design one single piece of cloth.
Being honest is the only means of making a good customer base. Many people would visit your shop for window shopping, you need to convince them, obviously through honesty and make them come back to you.
7. How to keep your store attractive?
You need to follow the recent fashion trends and design clothes according to it. If you keep bridal collections, check the recent colors, patterns, accessories that are trending for the marriage season. If you are selling boho outfits, you need to keep accessories too that would be a perfect match to it.
8. How can you maximize the profit?
If only you can buy fabrics at lower prices, you can make a profit which can be done only in the “retail outlet in a production house” system. You can cut costs on fabrics and manage elsewhere.
In this age of technology, if you don’t set up an online store, you will be left behind. An online store doesn’t need much investment. You need to buy a domain name, make a beautiful website and sell.
If you wish, you can ask for promotions by Instagram influencers. They can be a good source for your popularity. Once, you establish your brand there is no turning back.
10. How to spread popularity?
You should create good networking before starting the business. Try to attend different events and workshops, these events and workshops are a good source of income and popularity as well.
Also, it is very important to employ smart and honest employees. Employees help grow a store. You will not be around every time, but an employee with good behavior can help you hold onto a customer. Your customers might not get what she wants for the time being but she will surely visit your store for the next time.
Always keep in mind, beauty comes in different shapes and sizes, therefore you should have arrangements for each size and shape. Just remember to follow the fashion trends and trust me, you will be a hit in no-time. Here are a few tips and strategies to open a boutique.
We hope it was a good read and if you liked it do share and comment in the comments section below.