How to Open a Clothing Boutique on a Budget

how to open a clothing boutique on a budget frugal retail store

Did you know that you only have a 50/50 probability of surviving as a new business in your first few years?

Starting your life as an entrepreneur always has ups and downs. It's never plain sailing for long! 

But, the number of people buying eco-friendly, vintage and independent clothes is growing every year. That's why starting a clothing boutique shop is an excellent idea.

However, that doesn't mean that you can be sure of success. There are many steps you need to take to ensure that your boutique shop thrives.

Check out our guide with 8 steps for how to open a clothing boutique. Discover everything you need to know below for clothing boutiques on a budget!

1. Put Together a Business Plan

Before you get started with your boutique shop business, you need to make sure you put together a plan.

Not convinced you need a business plan to launch your store? Research says that a business plan doubles your chance of success. 

This doesn't necessarily need to be any formal plan. You just need to establish the goals of your business.

Knowing the destination of your business means that you can anticipate the potential risks ahead. 

This can ensure that your business continues to grow even when you're faced with challenges and obstacles along the way. 

2. Establish Your Budget 

There is a lot of debate among entrepreneurs regarding how much you would need to start your business.

Some people say that you can launch without anything. But, others say that a shoestring budget is enough for starters.

At the end of the day, if you're on a tight budget, you need to keep control of the purse strings so that you don't overspend.

You may need to make some early investments in your business. Just make sure you keep your accounts under lock and key. 

3. Discover Your Boutique Style

Now the boring stuff is over. You need to think carefully about how you're going to promote your boutique style.

Shoppers don't come to you when they want to see whatever can be found at the chain high street stores. They want something a little different or a twist on the latest craze.

But, you may want to focus your attention on a particular style itself. What about putting together a clear style for your store?

You might concentrate on bohemian sixties or punk leather vibes. Knowing exactly what kind of theme you're after can bring in the customers.

4. Only Buying From the Best

When you buy your goods at wholesale, you need to make a lot of decisions about which suppliers you can trust to provide you with quality products.

You can usually mark up the price from the wholesale price by around 27 percent, according to experts. However, this is really up to you!

But, if your customers are eager to get sustainable clothes, then you need to ensure that your supply chains are reliable and ethical. You don't want to sell phony goods to your customers.

Whether you're buying wholesale silver jewelry or sweaters on sale, make sure you get it from the best suppliers.

5. Locate Your Place 

Everyone talks about online shopping. But, most people still spend more money in bricks and mortar stores.

Boutique retailers need to make sure they secure a location that is appropriate for their business. Your customers need to be living or working nearby.

Browse numerous locations before making a final choice. You cannot afford to put down your roots in the wrong place.

Ask yourself questions. Does this store have a high footfall? Are there other similar stores in the neighborhood?

You also need to make sure the rental is covered by your budget. You'll constantly be unable to make a profit if your building costs more than your takings. 

6. Hire Your People

Don't leave it too late to get your staff?

You probably won't be able to manage everything yourself. You need to hire people who are going to be ambassadors for your company.

Motivating your staff to sell your products and promote your brand message. This can really make the difference to the success of your boutique store.

Make sure you get people on board with your business plan. You want others who are passionate about vintage fashion and trendy styles.

If you want to retain your hard-working and talented staff, make sure you give generous pay and treat them well. It's even more costly replacing them!

7. Launch Your Online Presence

Up to 72 percent of marketers struggle to find their target customers online. If you're not sure about who your customers are, how can you hope to reach out to them?

You need to launch your website and social media networks. Make sure you stay regularly active on Facebook and Instagram to promote your clothes.

Even setting up an online store on your website so people can get your products delivered. This is also an effective way to market your new product ranges by tweeting a post or sharing a post on LinkedIn. 

8. Sell Complimentary Products With High Margins 

While the main priority of your shop should be the clothes you offer, a secondary priority should be selling complimentary products. Sell top items that go with the clothing you offer such as socks, hats, lint rollers, hair clips, and shoelaces.

Other great complimentary products to sell include Luxe Hydration Bottles, gift sets (learn more), and even gift cards to the White Rabbit

All of these items add quality, variety, and increased margins to your clothing boutique business.

How to Open a Clothing Boutique on a Budget?

Are you a passionate entrepreneur ready to open your own clothing boutique store? You don't need a huge budget to get started. 

Making your way into the business world with a shoestring budget is possible. Now you know how to open a clothing boutique without lots of cash to spare.

Do you want to know more about how to make it as a frugal retail business? Check out our blog for more retailer or e-commerce tips and tricks to make it on a bootstrapped budget.

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