How To Start Your Own Boutique?

Are you willing to start your own Boutique? Starting your own Boutique as your business is always a great idea because the fashion industry has always been in trend. 

“Fashion Is Like Eating You Shouldn’t Stick to the Same Menu”

So from newborn babies to Old people, everyone cares for their dress-up. So the trend of fashion will never diminish. So if you are thinking of starting a boutique then you are most welcome for the thought. If you have the skills and creativity then you are always welcome in the fashion industry. We faced the biggest tragedy in 2020, even though clothing and fashion have maintained their trend. Change is the key to fashion. COVID-19 has given rise to new looks for the industry to try. This has given rise to the Fashion E-Commerce industry. If you are new to the industry and want to start your Boutique then this post is for you. 

The start of any business will need a business strategy and marketing strategy to make it up. Everyone is not aware of things like how to prepare a proper business plan, what are the requirements, and all. So the article on how to start your own Boutique will help you in solving your queries. For starting a business you must need a business plan, revenue, marketing idea, etc. After the COVID situation, the physical shop is a bit risky for everyone. To start your new shop physically will cost more as compared to your online store. 

Opening a boutique is a dream for many women who want to stand on their own feet. Many times they have the talent to create their boutique shop but they have no proper idea how to start it. For their guidance purpose here are some tips to start a boutique business

#1. Ready with your Business Plan:

If you have decided to open your boutique, then first be ready with your plan. Failing to prepare a business plan is the plan to fail in the business. Create a blueprint for your business. Plan your boutique business on paper and pen. Note all the important aspects which you think could affect your business. “Where to start and how to start” keep these two points simple and meaningful. Decide whether you want to start a small boutique, or mid-sized boutique, or a large boutique, and plan accordingly.

Set your Objectives:

When you are starting your Boutique business first of all you have to set your objectives, why you are doing this business, what will be the benefits you will provide to your users, and what is your motive to do this business. For example, if you want to open a  Clothing Boutique Store in Pune, then your objectives are like

  1. Providing Customers quality Clothing at a Reasonable Price
  2. Establishing a unique Clothing Store in Pune
  3. Achieve Profit in the First Year
  4. Continuously increasing the customers each year

Set Your Missions and Visions:

Mission Statement defines the objective of the company and the company business and the approach to accomplish the objectives.

Similarly, the Vision Statement defines the future point of the company. 

Company Description:

Prepare your Companies Description which involves what exactly your company is doing and what are the features of your products or what is your strong point and what extra you are giving to your customers you should mention in your company description. If we extend the above example we can write the Company description as

“{{Company_Name}}” is a Sole Proprietorship firm, we are providing all types of women designer clothes with a minimum price range.”

#2. The Reason to Start your Boutique:

Behind every business, there is a cause why you want to start it. Define the reason for yourself first, then start your business. Your Reason should motivate you to start and run the business. Eagerness is much more required than anything to do business.

#3. Requirements to open a Boutique:

Note down all the requirements either in paper and pen or if you have knowledge of Microsoft Word and Excel you can note down there also. The benefits behind note down the things are you have an idea about your requirements, so you can arrange accordingly.

  1. In the requirement list, the first and most important thing is to choose a name for your boutique. If you are planning to build an online store then first you have to buy a domain then Hosting.
  2. Location is the next thing to set your Boutique business. If you take a prime location for your business then it will be well and good. 
  3. As describes in our first point a Proper Business Plan will be required to proceed with your Boutique business.
  4. If you have done any fashion Design Course if not if you have any previous experience on that which will be helpful to start your boutique.
  5. Proper Marketing Planning is required to launch your product. Marketing Planning for boutique will involve all research and development work to know about the trends in the market, research on the competitors, strategize how to attract your customers to your boutique. 
  6. Finance and Capital for the Business: Funding is the essential thing you need to start any business. Roughly calculate how much is going to cost for opening a boutique, then evaluate how much capital you have how much extra you need from investors or banks, or ventures.
  7. License: Most of the Boutiques whether they are sole proprietorships or corporations or partnerships will need an assumed name certificate, also referred to as a “doing business as (DBA)” license. This is usually an inexpensive license for any business owner.
  8. Different supplies, materials, and equipment are required to open a boutique. Some of the essential items needed to run your own boutique are raw materials. Adjustable cloth rails, Hangers, Mannequins, price tags, carrier bags of all sizes, Apparel Boxes, Wardrobe Boxes
  9. No one can alone run any business, so a team is required for managing all works. You need to hire professionals for your boutique-like Administrative, Designers, Tailors, Production Staff, Dyers, Press or Ironing 
  10. How you will going to accept payment from your users or your customers decide on that whether you will accept cash, credit card Payment, Debit card Payment, UPI Payment, or some other mode of payment.

If you want to start a shop from home then you must think about make it online, for that you need a website or E-commerce website so that you can showcase your products there. For this, you will need a website development team to make a website for you.

#4. Do Market Research on different boutiques:

Starting any business will need proper market research on your product. The points you need to be careful are:

  1. Trends of your product in the market
  2. Who else do the same business in your locality
  3. Study about the giants of the industry like Zara, Nike, H & M and research about their strategy
  4. Find out which niche of your product is trending now and what is its value for future
  5. Research on their marketing Strategies like what are they doing rather than selling Products offline if they are having any website, if they are running their business on social media like have they created their shops on Facebook, Instagram, or WhatsApp

#5. Niche of Boutique you want to open:

While deciding on different features and fundings for your boutique you must choose the niche of your boutique. The types of boutiques are Women’s clothing, Men’s clothing, Kids Clothing, Accessories like handbags, ties, belts, jewelry, etc, Footwear. There are also different styles you can prefer like Ethnic wear, Western wear, Formal and Semi-Formal wear, Casual wear or there are various seasonal products like winter clothes, Summer Clothes, Rainy Season Clothes, and Spring season clothes that you can make your niche.

#6. Research on your Target Market:

While research on Customers’ target market keep in mind that you will collect “what your Customers like not what you like”. Before putting your step in the market you have to research your Target audience. An in-depth customer analysis is a must-required activity while setting up your business. You need to know your customer Persona. You should be able to answer the questions like their tastes, interests. You can understand your target audience by analyzing your competitors, sometimes it is better pre-brand-lunch so that you can find your exact niche and what your audience needs/ want you can easily capture your targeted audiences. Some of the key points to focus on to target your market are:

  • Understand your Product (Boutique Niche)
  • List out all the features and benefits
  • Find where your target audience located
  • How do they get to know about you
  • Why did they buy from you
  • How will you attract them towards your Product?
  • Who else is your competitor
  • Create customer personas
  1. Demography
  2. Psychology
  3. Their Passion
  4. LifeStyle
  5. Buying Habit

#7. Decide if you want Online Store or Physical Store:

Before you start any boutique there is some confusion regarding opening the physical store or online store. Here in this article, we try to resolve your confusion. They both have their own unique benefits. 

While you are running an Online Store you will get the following benefits

  1. You will get a Global Explorer
  2. Break the Physical Barriers
  3. You can able to generate more new customers
  4. Lower Cost as compared to establish a Physical Store
  5. For online stores, there are no holidays and closing time, it is 24/7 open.

In the same way, Physical Store is having their own benefits over Online Stores

  1. Some of the traditional customers always want to shop from a physical shop
  2. They want to see the products physically, in that case, the physical store is the best option.
  3. Physical Stores owners are able to gain the trust of the customers 

Leave a Reply