Opening & Operating a Retail Store / Boutique (Brick & Mortar or On-Line)
- Thread starter dulcedeleche
- Start date
1. Make sure you have at least 6 months worth of savings to pay major expenses, rent, phone,electric,...
2. Have a good customer mailing list to send out 20% off cards, info about upcoming events ...
3. Know enough about how to run a business, accounting, finances
4. Get creative with displays, incentive programs, events, do have trunk shows and fashion shows, major thing is to brand your name...do surveys to know what your customers are looking for, always ask alot of questions, KNOW YOUR CUSTOMER
5. take credit cards, this is a major way people pay for items, I take all of them...don't work about the percentage the credit card companies take you will make this back..people love convience.
6..Sorry I had to add one more...Location, location, location..
Oh and a website is always helpful...
I know this is more than five but I hope it is helpful
2. Have a good customer mailing list to send out 20% off cards, info about upcoming events ...
3. Know enough about how to run a business, accounting, finances
4. Get creative with displays, incentive programs, events, do have trunk shows and fashion shows, major thing is to brand your name...do surveys to know what your customers are looking for, always ask alot of questions, KNOW YOUR CUSTOMER
5. take credit cards, this is a major way people pay for items, I take all of them...don't work about the percentage the credit card companies take you will make this back..people love convience.
6..Sorry I had to add one more...Location, location, location..
Oh and a website is always helpful...
I know this is more than five but I hope it is helpful
BellaDawn beautiful site...love ur stuff...
How much was ur total capital for your boutique? was it costly?
How many brands did u start with ?
For all you boutique owners, i would be interested in knowing what type of brands u carry and how many brands u carry..and most importantly how much it costed u?
All the best.
Thank u
How much was ur total capital for your boutique? was it costly?
How many brands did u start with ?
For all you boutique owners, i would be interested in knowing what type of brands u carry and how many brands u carry..and most importantly how much it costed u?
All the best.
Thank u
tricotineacetat said:
Are you able to sell the lesser known designers?
I'm asking because there's a boutique in Copenhagen, and i spoke to the buyer, she told me that they stopped carrying Undercover because it just didn't sell, because no one actually knew what Undercover were..
Hello all, I'm fairly new to tfs, I hope you don't mind me jumping in. I'm very interested in this topic. I'm in the midwest with no fashion at all, seriously, except for 1 poorly stocked saks, but I believe there is a market here, especially for fabulous accessories. Are there any areas that some brands like, chloe, balenciaga, y-3, ysl, etc can't or won't send stock to? thanks
Thank yo sooo much...Dulcisima said:BellaDawn beautiful site...love ur stuff...
How much was ur total capital for your boutique? was it costly?
How many brands did u start with ?
For all you boutique owners, i would be interested in knowing what type of brands u carry and how many brands u carry..and most importantly how much it costed u?
All the best.
Thank u
It was pretty costly for me I had to take out a loan over $50,000
I started with about 10 up and coming designers...luckily I live close to the city so I was able to go to alot of showrooms and trade shows to find good lines to selll
Bella Dawn.
I would really like to be in contact with you over the next few months. I am really interested and would like to be able to ask you questions here and there. IS that okay.?
What was the first thing you did?
How did you approach the designers?
Did you write a buisness plan?
I would really like to be in contact with you over the next few months. I am really interested and would like to be able to ask you questions here and there. IS that okay.?
What was the first thing you did?
How did you approach the designers?
Did you write a buisness plan?
That is no problem..I would love to help...Claudette said:Bella Dawn.
I would really like to be in contact with you over the next few months. I am really interested and would like to be able to ask you questions here and there. IS that okay.?
What was the first thing you did?
How did you approach the designers?
Did you write a buisness plan?
I did (do) have a business plan, it took sometime to write it up and really get the information accurate. To get started I first created a business name and registered for my tax id # this is very important most companys will ask for this or in other states like cali they want a resale # once I had this number I planned a small party at my house( my parents house in the dinning room!) I had about $3,000(wholesale) worth of product just to get my self started...when people arrived (family friends) I had them all fill out a small survey,what they like, how much they would be willing to spend, what location would be convience for an actual store..this really helped me I basically broke even but it got me to know a few designers and help build a small customer base. So that was the first thing I did...I basically contacted the designers with an e-mail stating I was a new business, my customers were trendy women in thier 20's that would love to have their product available to purchase at my store... they pretty much all e-mailed me back telling me thier minimums etc...
Actually the first year is pretty much negative..because the money you make you are putting back into the company to keep it running...I basically do most of my accounting maually I have quick books but I have yet to really get it working for me..I hired an accounting to do my end of the year books...The most costly thing is the merchandise you need to have enough and you are constantly buying to keep the store looking fresh and new...Dulcisima said:
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