Launching a Boutique Now- What I Would Do Differently
Jul 03, 2023
Are you considering starting your own boutique? I want to help you understand that starting a boutique is not for everyone. It’s important to go into it with a full scope of understanding of what could go wrong and what could go right. So whether you're just starting out or you're a bit more experienced, this blog post is for you! I’m sharing what I have learned from running my own boutique for five years, and if I were to launch a boutique now, what I would do differently!
Launching a Boutique Now - What I Would Do Differently
The Realities of a Mobile Boutique
Contrary to popular belief, running a mobile boutique is not a walk in the park. The key to success lies in booking events, parties, and vendor shows. Being a part of larger events and markets where people are already gathering significantly boosts your chances of making sales. While there are occasional opportunities to shine as a solo act, it's better to join existing events and take advantage of the people already attending. Don't be discouraged by competition; instead, focus on showcasing your unique perspective and brand.
Online Stores: Marketing Driven, Not a Substitute
If you're considering an online store alongside your brick-and-mortar or mobile boutique, be aware that it requires a distinct approach! A successful online store demands its own marketing and inventory management. If your primary focus is on your physical locations, treating the online store primarily as a marketing tool can be a practical approach. Don't expect the same revenue generation from both channels right away; it takes time to build an online store's presence and profitability.
Solo Journey: Owning 100% of Your Business
From my personal experience, starting a boutique with a partner can be very challenging. While your fears may want you to find a partner to rely on, the reality is that partnerships often sink ships. Instead, consider starting on your own with an employee or manager who shares your vision. Providing incentives and benefits can ensure their commitment while allowing you to retain full control over your business.
Focus on Your Niche
When it comes to your boutique's product assortment, starting with a narrow focus is the way to go. Concentrate on one particular style or lifestyle and gradually expand your offerings as you gain a better understanding of your target customers. Beginning with essential clothing items like tops, dresses, and bottoms is always a wise choice. Limiting accessories to a few key pieces that you genuinely would wear yourself ensures a cohesive and authentic brand image. Avoid the temptation to overstock on inventory and remember that quality trumps quantity.
Take It Slow
New boutique owners often fall into the trap of purchasing excessive inventory, resulting in financial strain. Start with what you absolutely love and trust that you can always buy more. Don't feel pressured to cater to every customer and their preferences. Remember, you don't have to be everything to everyone. Start small, refine your selection, and allow your boutique to grow organically.
Starting a boutique is an exciting journey that comes with its fair share of challenges and rewards. By approaching your boutique with a clear understanding of what can go right and what can go wrong, you can set yourself up for success! Remember to focus on one thing at a time, and start small. Embrace the process, learn from other's experiences, and keep your eyes on the ultimate goal: making lots of friends and making lots of money in the boutique business!