Want to open a Fashion Boutique? Good idea.Think again...
I know I may sound a bit depressing to for-warn you about how to open or not to open a fashion boutique. Everyone who has remote sense of clothing or even lacks the knack for it - is very much willing to open a boutique and I must say many of them are successfully running the show, challenging day-to-day hurdles very well, or so it seems.
If your idea of running a boutique is a lavish opening and 'rest will take care of itself' then please think again. There are many aspects which are worth considering. Opening a boutique seems trivial but just like any other business, it helps if we make our business plan and stick to it with a little bit of flexibility. In the name of flexibility I have seen that sometimes we are carried away very far till we find out where we are going.
Two years back, I opened a boutique.I rented a shop in a busy market and invested some money taking loans from family and some from my own pocket. As I am fond of all those tit bits and designs on clothes I managed really well with the designing part. The challenges I faced vary case to case basis but I am tempted to share them with you if they can be of any use to you:-
1. A boutique can be successfully run from a rented place as well but it is always more profitable to own the shop. As I reached my break-even point and started getting positive response; my landlord got scared and believe me it happens in many of the cases. Then due to uncertainty of rented shop and restrictions of lease agreement, you are rather not willing to invest lots of money in the immovable fixtures but fashion business depends on good merchandise and presentation due to which you have to inevitably invest.
2.If your boutique is a customized tailoring solution then it is a must to have at least two good tailors and drapers. See, initially it may seem that you don't need them but problem with this staff is when there is no work they are willing to join you but as soon as you have started getting work, they try to get absent. Be very careful about the staff as your loyal staff / team can only take you places.
Apart from the regular salaried staff, it always helps to keep some workers who are willing to work piece basis on emergencies.
3. Have your machines,equipment and tools in good working condition and learn how to operate them yourself even if you never need to use them.
4.Keep billing and entry system strictly checked everyday. Make it a habit to get everyday's work done on that particular day itself. You never know tomorrow can be worse than today. Being optimistic is good but when in business, be prepared for the worst.
5.Take care of your health, your family and your home. Seems too much but having peace of mind is important. Running a boutique may get to your nerves sometimes but it is important to understand our priorities and run yourself healthily before running anything else.Well, a healthy you will make a happy you if things are done using a to-do list .
6. Value your customers and give service with a smile. Respect them, cheating is not good at all.
Will share more in times to come...
If your idea of running a boutique is a lavish opening and 'rest will take care of itself' then please think again. There are many aspects which are worth considering. Opening a boutique seems trivial but just like any other business, it helps if we make our business plan and stick to it with a little bit of flexibility. In the name of flexibility I have seen that sometimes we are carried away very far till we find out where we are going.
Two years back, I opened a boutique.I rented a shop in a busy market and invested some money taking loans from family and some from my own pocket. As I am fond of all those tit bits and designs on clothes I managed really well with the designing part. The challenges I faced vary case to case basis but I am tempted to share them with you if they can be of any use to you:-
1. A boutique can be successfully run from a rented place as well but it is always more profitable to own the shop. As I reached my break-even point and started getting positive response; my landlord got scared and believe me it happens in many of the cases. Then due to uncertainty of rented shop and restrictions of lease agreement, you are rather not willing to invest lots of money in the immovable fixtures but fashion business depends on good merchandise and presentation due to which you have to inevitably invest.
2.If your boutique is a customized tailoring solution then it is a must to have at least two good tailors and drapers. See, initially it may seem that you don't need them but problem with this staff is when there is no work they are willing to join you but as soon as you have started getting work, they try to get absent. Be very careful about the staff as your loyal staff / team can only take you places.
Apart from the regular salaried staff, it always helps to keep some workers who are willing to work piece basis on emergencies.
3. Have your machines,equipment and tools in good working condition and learn how to operate them yourself even if you never need to use them.
4.Keep billing and entry system strictly checked everyday. Make it a habit to get everyday's work done on that particular day itself. You never know tomorrow can be worse than today. Being optimistic is good but when in business, be prepared for the worst.
5.Take care of your health, your family and your home. Seems too much but having peace of mind is important. Running a boutique may get to your nerves sometimes but it is important to understand our priorities and run yourself healthily before running anything else.Well, a healthy you will make a happy you if things are done using a to-do list .
6. Value your customers and give service with a smile. Respect them, cheating is not good at all.
Will share more in times to come...
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