Examples include having more sales and promotions, online contests and free giveaways to attract customers and sales or finding more suppliers with a larger product selection if your current supplier stops carrying your ideal products.
Plan a budget for the boutique, including basic start-up fees and ongoing expenses.
It is easy to start, easily manageable by even one person, requires comparatively small amount of capital to start, engages the creativity and passion of the owner to a great extend.
And all of these more often than not leads to a successful and enriching life for all involved. You will have to develop a relationship with wholesalers and get the best price so that you can make more profit.
Examples include the lack of customers, lack of sales, lack of funding or not being able to get the products you want to sell.
Provide a solution to each of the risks, so you are prepared to take action in case one of your risks should occur.investment as you will have to give a franchisee fee to the company as well as keep up the quality standards as specified by the company in terms of decor etc .You have the advantage of already developed brand awareness, company advertisements etc and A fourth type of boutique can be the retail outlet of a production house.Identify a problem in that market that you can solve. The styles, color and fit should meet your store, will you be renting or buying, type of clothing you mean to carry, the size of the shop , hiring employees, store decor, other costs etc; Also on whether you have the capital to start the boutique on your own or whether any of your friends / relatives are willing to lend the money to you. It can be your savior in business or it can kill you forever.So take only calculated risks especially when other investor money is involved.The reward will be all the more, if you are successful.Decide on the target market – the customers you are going to sell to.Decide whether or not the marketing, finances and ordering should be done during opening hours or after hours.Point out the major risks about operating your boutique.Include the owner(s), employees who will be working in the store, marketers for the boutique, on-site manager, ordering and sales individual or team, and a financial accountant.If one person is responsible for several or all of the tasks, ensure that she is listed as such.