wait a sec! check out these awesome Fred Butler glasses via his blogspot fredbutlerstyle.blogspot.com. Way to look sassy for the New Year! 
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So, you want to be a boutique shop owner?
(picture from Lealand Eve Boutique)
I came upon an article in a recent edition of Cosmo Magazine on what it takes in becoming a boutique owner. If you have ever considered operating your own boutique and being your own boss, then I definitely feel that this might be worth your time.
Let me share with you my thoughts on some keypoints taken from the article.
1) KNOW THE MARKET: This involves ALL aspects of the market. Study and know the fashion trends and forecasts, the current economic status and trends, sales representatives and buyers, vendors and manufacturers, and the rest of “the whole nine yards”. The worldwide-web has made it so much easier to browse for “up-and-coming” designers and the “next-best-thing”. The web is an endless abyss of information. Start here and continue to utilize this tool, as trends tend to come and go in the blink-of-an-eye. The web is probably going to become your best friend, and a great one at that.
Find a “niche” in your market, in your area, in your life. Find a “niche” and run with it. Although the web can be your best friend, it can also serve as your biggest rival. With the web so readily accessible these days, the competition is tougher than ever. Once you find your “niche”, it will become yours, for now at least. You always have to be knowledgeable. That way you can be at least one step ahead of the rest, and continue your success!
2) CREATE A BUSINESS PLAN: Every successful business owner knows that you have to have a plan. Even after all the market research you've conducted, if you still feel like this is a challenge you would like to take on, create a business plan/overview. Specify the type of market/demographic you would like to target. Who are your customers? Who are your competitors? What makes you stand out from these competitors? Why should a consumer choose your product/service over a competitor?
You really need to know who your clientele will be, your target market. This will help you determine your price points, product, and etc. Having a price range will narrow down your search in finding your vendors and the type of clothing your allowed to sell.
3) START SAVING: It is important to be realistic. When you factor in your overhead costs, such as rent, utilities, maintenance, payroll (even if you are planning on operating the business alone), and all the other loose odds-and-ends, just opening your boutique and keeping the doors open will set you back thousands and thousands of dollars. It is always nice, and important to have a cushion when it comes to financing your new adventure. Remember to educate yourself with the various types of loans that are available through the government and banks. Looking for investors in your project might also be a great idea.
4) ALWAYS RESEARCH: In every aspect of the fashion business, you will constantly have to research. Whether you need to educate yourself with the latest fashion trends or look for new marketing strategies, you need to make sure you are aware of EVERYTHING. Get out there, network, hop on the web, do what ever it takes for your business and the industry you’re in, to become second-nature. It will definitely pay off.
Most importantly, above one and above all, believe in yourself, in your passion, in your dream. This is your dream, and it started with you. I am not going to lie. There are a TON of risks involved in taking on a challenge such as this. But if you feel this is for you, be careful and take all of the necessary precautions. You don’t want your dream to become just that, a dream.
