Like any business, you will have operating costs. Figuring out your operating costs will help when you start to develop your budget (more on this in a few days!)
Depending on what type of boutique you open, you will need to take different operating costs into consideration. The most obvious expense you need to consider is rent. If you are operating an online boutique, your rent is essentially the cost to host your website. If you’re a mobile boutique, don’t think you won’t have to pay rent either! Many festivals where you are allowed to park charge “rent”.
You always want to over-estimate operating costs but the worst that can happen at the end of the month is that you have more to put towards savings or paying off loans (if you have them). Having a clear idea of what you will need to pay every month, rather than sticking your head in the sand and pretending the bills magically pay themselves, will help as you develop your cash flow...
Okay, so you’ve decided to open a boutique! YAY!
But what to name it?
This is a time to be both creative but also practical. I see a lot of boutiques throw words into their name that if you just saw the name you would have no idea what type of store it is!
Here are some of my tips when you’re deciding on a name:
Share your boutique or soon to be open boutique name in the comments below! I’d love to hear them!
Did you know that there are actually three types of boutique you can open?
There are several things you need to consider when you decide what type of boutique to open and now is a better time than ever!
You should open a brick & mortar boutique if:
- You LOVE interacting with people in person
- Are you going to want to go to a store everyday?
You should open an online boutique if:
- You love social media and showing your face online
- You need a more flexible schedule where you can work from home
You should open a mobile boutique if:
- You don’t mind small spaces
- You love to be adventurous and are able to get creative
Leave in the comments below what kind of boutique you have or what your dream type of boutique is!
This month's theme is MARKETING.
My team and I have planned out content for all of 2020 and when our world got flipped upside down a few weeks ago, I was worried we may need to pivot our social media plan for April.
I was wrong. Even back in December when I sat with my program manager for hours, I knew April would be a month where I wanted to share more about marketing. Talk about intuition!
With so many of you unable to run your brick and mortars from your physical stores, I wanted to share about a no cost marketing tool that you all have at your fingertips.
I know a lot of you aren't comfortable getting in front of the camera. Well its time to suck it up! Your message is too important to not share!
You have to get uncomfortable in order to grow. Like most things, with practice, it gets easier.
Have a plan when you go live. Knowing what you are going to show and say is going to help you feel less anxious and more comfortable in front of the camera.
Over the next few...