For most fashion experts with an entrepreneurial knack would jump at the opportunity of starting their own fashion boutique. Seems like the ideal situation, right? Doing what you love and working flexible hours. However, the trade, with all its wonderful perks is not all about the glamour. There’s that business side to it as well.
If you’re thinking about starting your own business, you may have some questions. What should you expect? What should you do? Where should you begin? In order to make it big, here are 5 things that you need to know:
1. Having A Business Plan…& A Brand Strategy Is Essential
In 2010, Small Business Trends conducted a survey with thousands of businessmen, inquiring after their goals and business planning. The result was that those who completed their business plans were nearly twice as likely to successfully grow their businesses, than those who didn’t have a plan. Your fashion boutique needs a business plan that details the direction that the business will be moving toward for the next 2-3 years. So where does your brand strategy fit here?
In the marketing section of your business plan, talk about what your brand story will be. That is, the name, its vision, mission, goals, and image. What do you want your store to be associated with? This will help individuals identify with your fashion store.
2. Opting For Leading Wholesale Purchase Is Cost Effective – Your Profitability Is Enhanced
Finding the right women’s clothing wholesale is monumental for your business profitability. Most often, in haste and without much research, businesspersons purchase their clothing stock from mediocre agents. The result is higher costs and no real quality. Remember, your marketing and branding strategy complement your clothing collection. It is the primary attraction factor. You’ve displayed a great collection, and your customers will come flying in. Take time to find the right wholesale supplier who offers you a variety of clothing collection and accessories.
3. Leverage Your Connections
Get out there, and talk to people. Lucky for you, you’re in the business of dressing people. And that’s not too challenging to do. Speak with your family and friends. Ask them to get the word out. Word of mouth is a powerful tool that could really enhance your business visibility.
4. Don’t Compete – Find Your Own Niche
There are hundreds of fashion stores out there. But that shouldn’t deter you. You need to find a way to offer something different to your customers, so much so that it renders the competition irrelevant! Communicate your brand story. Connect with your customers offering stunning clothing at great value.
Your fashion retail business needs a stunning collection of wholesale designer clothing. Explore the collection at OrangeShine.com to offer your customers the best that the fashion industry has to offer.
Feel free to contact us at 213-745-3001, or drop in an email if you have any questions at, [email protected]