Here are top 11 tips on opening a boutique.
o Name your boutique suitable to what you sell. Opening a boutique with an attractive name surely attracts customers.
o Apply for small business license and other legal permits well in advance. This is crucial for getting power turned on when you start operating. Certain merchandisers also insist on legal permits. By opening a boutique with legal permits you would be able to buy your merchandise from suppliers who offer quality products at a low cost.
o Do a budgeting at the early stage itself. Estimate the startup cost and identify your financial resources well in advance. This will save you from financial pitfalls. Clearly know about the expenses and the resources from where the money would come from. If you try you can even find some investors to finance your boutique. You can even join hands with another partner who is interested in doing business together with you. Before opening a boutique complete financial planning and budgeting. This is the key to a successful start and a smooth running thereafter.
o Select a location where the foot traffic is more. You can even find a shop in a mall. When negotiating for lease, do not forget the duration.
o Fix your target market and cater to them. Before opening your boutique, decide whether you want to sell women’s wear, men’s apparel, kids wear or teenage stuff. Select a specialty clothes range and plan to sell them. Select from sports wear, formal wear, casual wear etc.
o Decide on the colors and sizes you intend to sell in your clothing store.
o Do not consider just one merchandiser. After analyzing a few suppliers and studying their terms settle for the best deal. You can buy your merchandise from more than one supplier if it is cost effective.
o Buy just the right amount of stock. This can be done by having an idea about market analysis and estimated sales.
o Decorate the interior of your boutique attractively. Attractive shops undoubtedly impress your customers. Be creative to design your window displays. Even just an onlooker should be tempted to step in your boutique. Opening a fashion boutique with an unimpressive and unattractive interior is a crime!
o Hire talented staffs. Your employees are the ones through which you communicate with your customers. So when opening a boutique, be sure to employ warm and friendly staff. Take a look at the past records of the employees and decide accordingly. You may also give some initial training to your staff to make them accommodate for your unique business. Also the staff should have knowledge about the fashion trends and have sense of style. They should be able to assist the customers on their selection of clothes.
o Grand opening is a must for a fashion boutique. Make an impressive and attractive start by spending freely on advertising. As far as your budget allows, you should give importance to initial advertising. Give creatively phrased advertisement of considerable size in local newspapers and magazines. This is how you would get to be known in the neighborhood.
That is all! You have opened your fashion boutique successfully. Good luck.