Boutiques have become increasingly popular and can be very profitable if opened up in popular locations with a moderate investment. You don’t have to be a designer yourself in order to start up a boutique as long as you have enough resources to contract one, or purchase high fashion clothes and accessories from reputed brands.
Before opening your boutique, see if the people in your location have the taste for fancy clothing.
Contact wholesale suppliers to find out which of them sell the products that you require.
You need to be street smart to succeed in this business, and your first test will be selecting the wholesaler offering you the lowest per-unit cost on the items that you need. Once you are satisfied with the rates of a wholesaler it is best to stick to one.
Now scout for a suitable location. Remember, for a boutique you need to work really hard to find a place which is not too far from residential areas and is easy to find. You should choose areas around shopping malls but be wary of high rents.
Initially, it is better if you ask your family members to help in setting up the boutique. You can later hire additional employees according to your workload.
It is important to place an order for the products such that they reach you days before the opening of the boutique. Make sure that all your equipment such as shelves and cash registers are in working condition and set up before the opening.
Just like any other business venture, your boutique also requires publicity and proper marketing. Talk to recognized designers and people from the fashion industry to get help. Word of mouth marketing is vital in this business as you don’t actually have to spend too much money on printing and publishing brochures, or paying for advertisements in the news paper if enough people have already heard about your business.
Once your business picks up, you can then have a separate budget for advertisements and hire top models for promotional purposes.
Plan a grand opening; let the city know that a new boutique has opened up. Invite important personalities and give away some free items. This will add to the popularity of your boutique and help in establishing your clientele.