For entrepreneurs with a fashion sense, opening a bridal boutique can be perfect for you. This business can be challenging, especially if you start out on your own. However, it is very lucrative, because every bride will need a wedding dress, so you will not run out of clients to dress up. Before you start your bridal shop, there are certain areas you need to cover.
Business Research and Planning
Start your research by visiting existing bridal boutiques in the area you are eyeing to open your business in and assess your would-be competitors. This step will give you an idea of what bridal styles and trends you should include in your collection. Use the internet to research on fashion trends in bridal dresses and accessories.
You must also come up with a business plan that includes the name of your business, your target market, marketing research, business location, projection of income and expenses for at least three years, expansion plan and other important details of your bridal boutique business.
Location of you bridal store is crucial since this will bring clients to you. You must look for location in an area with a high traffic, or a location near other weddings related businesses, such as cake shops or beauty salons.
Opening a bridal shop requires a lot of expenses, from designing your showroom to hiring staff to business promotion. If you don’t have a business partner or investors, you might want to apply for a bank loan for a business start-up, in case you do not have enough capital to start. If you plan to apply for a loan, your business plan is one of the requirements you need to submit. A well-written business plan will increase your chances of being approved.
Suppliers and Designers
If you intend to include collections of designers other than your own, you must get in touch with your preferred designers and offer them partnerships. You also need suppliers and manufacturers to support your business operational.
Designing your shop’s showroom and its interior is crucial in attracting potential customers and making them feel they are in the right place once they enter your showroom. Invest in comfortable lounge chairs and sofas to make your brides-to-be and their family members or friends can feel at home. Mirrors, sufficient lighting and ample space in the showroom will help the clients see how they look, and brides can have a full view of the gown she is trying to fit.
You need to hire a team for production and sales with passions, skills and knowledge about the industry. You also need an in-house tailor who will take care of alterations needed. As your business grows, you might also want to hire a fashion consultant.
Promote your bridal boutique in many different ways. Create a website to showcase your collections and provide a link for customer to book an appointment, join bridal shows where prospective customers can come and learn about your shop. Give away business cards and offer special prices to your clients.