STYLETHREAD -- LET'S TALK SHOP!

Kelly · Hermes

AllieGurl!

sal · Nine West

I would really like to know as well. I graduated from college 2 yrs ago and done this and that. Changed job a couple times, but nothing I liked or enjoyed. I've always wanted to open up my own clothing boutique and I think this may be the right time for me, as I just quit my job and is jobless right now. I really want to do something I love instead of just going to work. But, the problem is I have no idea where to start. Should go to a fashion school or should I get a job in a boutique first??

AllieGurl · Marc Jacobs

Hi!

I get this question alot!!

I actually worked at a major upscale department store as a womens trend buyer for several years before opening my first boutique.

I had no business expierance when I started in retail, I got a job as a salesperson at 18 in this upscale dept store and climbed the ranks from there. I have never been to college.

After working as a buyer for 5 years I realized that I was tired of making money for other people, and I might as well do it for myself. So I approached my hubby about investing our savings and he was behind the idea 100%.

I do have a business partner , she is a accountant. That was crucial for me since I have no expeirance in balancing budgets ...

I did alot of demographic research before opening my first store and finally found the perfect city and location.

VERY IMPORTANT- FInding vendors that are open to buy from in the area you want to go. If you open in a place that is saturated with stores then those accounts are not available to you. So you wont have many choices with brands and that can make or break you.

SO I opened my first store which was a huge sucess. I worked alot ( and still do..) sometimes not having a day off for months at a time. I travel around the world to all the retail markets to get the absolute best mix of clothing for the store.

After a year I decieded to open another store and went thru the process all over again.

Owning a boutique involves many things -
1. Realistic budget and start up money ( most boutiques need at least 200k to start and be succesful)
2. An accountent who can trully manage your money
3. Dedication to staying on top of new brands and bringing in a lot of mix
4. Securing your vendors
5. Picking a prime location
6. Be a risk taker ( you have to be willing to believe in your "vision" and carry it out)
7. Hire , train and be excellent sales people with excellent customer service and impeccable product knowledge.
8. Be willing to always reinevnt your business. I noticed a need for women to have personal shoppers and stylist and added this to our stores last year. So always stay current and be willing to examine your business
9. Trully define who your customer is and what your look is. Boutiques that fail often are a mishmosh of merchandise in a confusing decor and try to do to many things instead of focusing on doing a few things well.

I hope that information helps ......

Kelly · Hermes

Thanks! It does help. I'm just trying to feel around in some fields. One thing that has been creeping around in my mind for a while is to open a lingerie boutique (not a trashy one at all, very classy and everything...), and I was interested to know how you got your start.

Thanks!