Starting a Small Boutique
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Why Open a Small Boutique?
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Opening a small boutique is a terrific way to go into retail without the high overhead of a bigger store. Smaller shops usually carry less goods, have few employees and cost less in utilities and rent. Because of this, beginning entrepreneurs may find them more inviting.
Small boutiques are also good for those who wish to focus on a particular niche, be it roleplaying card games or handmade purses decorated with pictures of dogs. The smaller store size affords more attention to items that would otherwise be overlooked by larger retailers.
Location for Your Small Boutique
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Location is important. Affordable rent, coupled with good traffic, helps to ensure business solvency. Whatever the product you sell, think about the market for it. Does the neighborhood have a good amount of disposable income and other stores that complement (versus compete with) your products? Look into a shop on a side street within a hundred feet of the intersection of the main road. Good places for this are towns with youth or communities located near tourist attractions. It's good to be visible to passing car and foot traffic.
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Stocking the Small Boutique
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Chances are that a small boutique space won't have lots of storage for overstock. Therefore, it pays to be mindful when buying inventory. If selling clothing or accessories, think about whether it's necessary to sell every color and size of a particular item. Pare down and offer to order any additional pieces a client may need.
A small store is also an excellent opportunity to reach out to local crafters and artisans. For instance, there may be an excellent glass maker who can supply vases to your furniture boutique on a consignment basis. This artisan, in turn, will tell his clients about your shop. Relationships like this create contacts on a local level and also offer a chance to sell something that bigger stores wouldn't carry.
Small Boutique Publicity
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Use local channels to publicize your wares. High school booster ads, charity events and arts bazaars are all inexpensive ways to create buzz while giving back to the community. Bring business cards and fliers, or offer a special coupon for attendees.
Hold special events to garner more attention. Trunk shows, classes or children's parties will bring in people from nearby towns and can even get notice from local media outlets. Use online resources to publicize happenings, and make sure to spread the word to related businesses. In fact, by joining other small boutiques and shops, you might be able to widen the event's appeal with a broader range of products and a bigger advertising budget.
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Resources
- Photo Credit 2008 David JAGER / Creative Commons
