Once you decide to own a boutique there are three options before you. You can buy an already existing boutique. In this kind of outright purchase you can have an already existing customer base. The second option is opening a franchise of a reputed boutique chain. This way you will have advantage of an already known brand name and good will. The third alternative is to open a brand new boutique of your own.
If you want to own a boutique you should learn to make decisions. From what products to sell to at what price, owning a boutique is all about making the right decisions at the right time. So to be a boutique owner you should not shy away from decision-making.
To own a boutique it is good to have a feel for fashion. You need to be aware of the new trends in fashion before they actually arrive. You should also be aware of what kind of clothes would suit what type of people. This knowledge comes in handy when your customers ask your expert advice in this regard.
If you are truly creative it really helps a lot to own a boutique. You can create attractive window displays. You can even design the products you sell. You can invent new styles and cuts that might impress your customers.
To own a boutique you should have in depth knowledge on the following:
o What would you sell in your boutique? : You need to decide whether you would sell men’s apparel or women’s wear. You have to decide in the first place about the kind of boutique you wish to own. For example you may prefer to own a bridal boutique to a kids wear shop. Apart from the main category you may further decide on specialty clothing that you may sell like business clothing, formal wear, casual wear, sportswear, swimwear etc.
o What is the business plan of your retail-clothing venture? In your boutique business plan you should analyze all aspects of the trade and put everything in words. A complete business plan would serve as a reference for implementing the tasks of starting your own boutique.
o How to draft start up budget? You should count on what are all the initial expenses you need to own a boutique. You should also be clear about how much money you need initially and where the start up financing would come from.