If you have always been a fashion enthusiast and get appreciated for your taste in fashion, maybe it’s time to take that big step! It’s time to start your boutique… Yes! One of the key secrets of a boutique business is to buy low and sell high. There are many boutiques out there, so how do you set yourself apart? Where do you begin and how do you go through the process? How do you conduct your research? The best way to start your boutique is buying wholesale. Buy them at a lesser price and sell them at a much higher price. This is how most boutiques earn profits and that’s how this business works. There are many factors involved in starting your boutique. There is a lot of paperwork involved, meeting wholesalers and branding your business. If you are ready to start your clothing line, pull up your socks and check out a few steps to help you in your initial stage:
Here are a few steps to start your own clothing business:
- Look for trusted wholesalers
There are many wholesalers out there but whom do you trust and how? The best way to find out is by checking their online credibility. For example the best LA Wholesale Clothing creates a list of their trusted wholesalers on their website. They target both, the new buyers as well as regular ones and keep their website and directory list updated.
They only give their best names and an interested buyer can get in touch with the wholesaler directly. Say goodbye to shady websites and sketchy agents who cannot be trusted. This is your first step in building your own clothing business. Once you find a reliable wholesaler, half the battle is won. The rest of the game is lots of hard work and a little bit of luck!
- Determine your clothing niche
Do a market survey and decide which will be your target group? Whether you want to target the children, go for the teens or stick to the ladies? Go around your local market and see which group’s demand is high but has a lower supply.
For example: if you go in the market and find that the informal section for men’s clothing is under-served, then you can go for it! So study your area well, the target section even more and then decide your niche. The more market research, the better ideas you will get.
- Build your budget
If this is just a fun project, you don’t need to have a budget. But, if you plan to grow in the market, it’s important to have a budget in place. But, whatever is your idea, start small. Set a budget for your boutique space, helping staff, online promotions and of course buying wholesale. Keep some extra budget for other materials which you may not be aware of at this stage. There will always be an additional cost involved.
- Create your brand
If you want to stand out from the rest of the competitors, start by creating your brand. Hire a designer to create your logo and create an identity for yourself. You can also choose to keep a catalogue for your customers and brand it exclusively as your work. You could create digital posters for your brand and promote it in your local Whatsapp groups. Word of mouth is the best promotional idea for a brand. If you have the budget, you could also do Facebook ads and create a page to add more credibility to your brand. Instagram is another great platform to sell your clothing without actually owning a physical shop. Many youngsters are actively buying on this platform and can also get your good reviews.
- Test your clothing line
If you don’t want to start a full boutique as of now, you can still test your clothes in the market. You could do exhibitions, display at carnivals, sell on the Facebook market place. You will realize that even testing with a smaller budget and audience is a never-ending process. You will keep adding more collection and want to make more profits.
- Maintaining a healthy relationship with the wholesaler
Your relationship with the wholesaler will define whether your business will be successful or not. If you have a good rapport with your dealer, you are more likely to get good pricing. You may also be able to enjoy a sneak peek of their fresh collection and be their first buyer. This will help you have the best collection in your boutique. Also, a wholesaler who has a good relationship with you is more likely to accommodate your delayed payments. They are also likely to help you with alternative wholesalers to help build your business.