I’m seriously considering & planning to move my custom dressmaking and alterations business out of my home and into a brick & mortar location a few towns away. Thanks so much for this great video! So helpful and motivating!
so happy for you!! please note that your online sales will go down with the shift in your focus! I see it everytime... doesn't mean you won't make it up in b&m- the money just shifts over!
I'm trying to write a series centered on individuals who own their own boutiques. I've been struggling to actually find a step-by-step guide as to what a boutique-owner hopeful should consider. This has been pretty helpful, and I think I will be watching more of your videos. I am curious about the legalities of it all. Who helps with taxes? Who gives financial advise or helps with budgeting? How does that work and how do you manage it yourself? Do you hire attorneys or lawyers before opening the business? Do you have to go to City Hall for licenses? What kind of licenses or permissions do you need? I would appreciate if anyone could help me with the details.
Omg! I'm glad I came across this video. I'm in Canada 🇨🇦 and thinking of expanding my boutique to a brick and motar after being online only for 3 months
All great suggestions! We are on the way to COSTCO, so people see us. Also being 2 doors down from a Nail Salon, we find the ladies exiting are too busy taking pics of their nails, but eventually they wander in, wondering if we are new LOL (we have been in this plaza for 4 years) LOL.
Would you suggest having an online store first before opening a storefront? Like what if I wanted to open the storefront first, then online portion second?
Hi Nina! I think you can do it either way. The one benefit of opening online first is that you have a built in audience of people ready to show up at the store. I've found that online boutiques somehow reach a local audience first when they open, so it translates really well. If you go storefront first, it is a bigger investment out the gate (or online first would "fund" the store...) and you really do need an amazing location that has traffic built in. Hope this helps! Emily
@@Emilyboutique Thank you so much Emily! It does help! My thing is I am a plus size and shopping online for plus size has not been so great- a lot of returns/things not true to size, etc. So, that's why I am thinking of creating a storefront with a better experience. I found you online last night and will certainly be absorbing more of your content! Thanks again!
@@TheNinaNicholeShow awesome! I agree that shopping plus size online is tough! Use the search in my FB group to start exploring the plus size vendors that are available to boutiques. It's a bit slim, but you could make it work!!!
Am wondering about your thoughts on buying an existing business and rebranding. Example: purchasing an existing gift shop that carries greeting cards and gifts and turning that into a gift shop that sells local artisanal products, art, etc. and maybe keeping some of the existing most popular products. So it's in keeping with the gift shop idea but changing the name of the store and the type of things it carries. Is that a dangerous idea, ie: if the current business is successful, you may lost that client base if you switch it up?
Honestly the biggest issue I always see with buying a business is that the current owner WAY overcharges for it. They think there's sooo much value in what they've built-- but I'm not always convinced that's quite true. I feel like I meet people who are $100k in debt from investing in a current business when using that kind of money to start fresh might be a more incredible set up. If it's truly an awesome business and you think you can stay true to the customer base and make it better, I don't think you'll alienate the regulars if you do it slowly. There's plenty of businesses I like but wish they'd do some needed updates :O
My store recently went viral on Facebook and I've been selling out faster than I can restock and I'm having the issue of keeping the store filled I did finance the store on my own as in I found it myself I had saved up almost 20 K to do this, so you can give me tips and tricks to help me out that would be greatIt's been crazy I'm in the town of Augusta Georgia and not too many plus size boutiques out here so when I posted it on the community page people in sane and now I'm just trying to keep up didn't think I would go viral
Wow!!! Congrats!!! Here’s the thing- if you’re markup is good, you should have plenty of free cash to keep ordering inventory. Are you charging 3x on your wholesale to retail?? Also I’d love to suggest that you pay yourself back that initial investment in manageable increments, so that you don’t cut off your cash flow! What else do you need help with?
@@Emilyboutique No I'm only doing 100% mark up so whatever the unit price plus the hundred percent and I think that's where I'm going wrong because everybody that comes in has said my prices are very cheap compared to torrid and they're really happy about the prices but I'm scared that I'm screwing myself in a sense. I'm scared if I put my price is a little bit more up that I will scare people away
Diana Mejia so a $10 item wholesale is $20 retail? Yikes! Yeah you have to start adding some margin as you get new arrivals. People like what you have and you’re the only person in town so you have a head start!!! Slowly raise your prices or honestly, and I hate saying this, but you’ll run out of money.
What I worry about is coming up with fee every week. We’re I live suites are popular. I get Sociol security so it’s really hard to open store . But not getting sells online so doing pop ups
Pop ups are a great way to test the market and your product assortment. I just did a podcast about them too: podcasts.apple.com/us/podcast/601-how-to-do-a-pop-up/id1208014382?i=1000546966693
Haha I’m like 3 hours from my location BUT I’m on transport so that’s time I use to do orders, work on the art I’m like forced to be productive… I could also Nap
I have been online and now opened a space in a building where there are Suites rather than store front. It is a small space and perfect to start out with, but getting local customers in there. I plan on doing an Grand opening, but since not a B&M what do you suggest marketing wise. I have been passing out fliers and cards to friends and family, customers and church.
Get going doing videos on social! Focus on having local people share about you. Get a google business listing and build it out with photos and information. It’s going to take time to get people to come in since you’re more hidden.
I am thinking about if opening my store ,rent is 6,000 a month.It is very busy area, close to apartments and hospital. I sell in Etsy right now,but it is not going well, but every time I do local market sells pretty good. So, that is why I am thinking of opening a brick and mortar store.
If you have around $20-30k saved then I think opening in this location sounds reasonable (that said, I have no idea where it is or anything about your store so please take this as some input only). I think you've got to make sure the investment in your assortment is a good variety that caters to one customer. My guess is you'll need to spend at least $5-10k on inventory to open a b&m store with appropriate levels. What do you sell? And why Etsy?
I am contemplating opening a store for special makeup effects supplies in my town, but I am worried about the risks as I have a small family and I am the primary breadwinner, and want to minimize the risks. This is a very specified type of store, but there is demand for one in my town, but it is hard to make that decision and run the risk of putting my small family at risk.
I am researching and would love to open a boutique. I liked the suggestion of looking up demographics because I think my boutique is for a specific person. I’d love to offer some hand made items and altered or embellished clothing maybe repurposed. With alterations services. Have you seen anything like this?
Hello, is it better to secure your location first if you have the money or to stock up on products first and store them at home until you find your location? Thank you
Can you tell me what the percentage of cogs, wages, and rent should be in comparison to revenue? I have a pretty busy retail store but our expenses are break even or even more than the revenue sometimes, so I'd love to know what I should be aiming for
There is no one answer to this. The problem is your markup/margins though. The only way we make money in retail is either to sell more units or have a larger difference between wholesale and retail. If you don't have money at the end of the month then what your markup is, is not covering the cost of running the business.
Commercial rent and NNN is ridiculous. I wish she would just say that. No one should be spinning their wheels or going bankrupt just making commercial owners and property managers richer....and people are...
I think a storefront can be amazing in the right location and community! I see many brick and mortars doing $30-100k a month. If you want to build your brand and local community by starting online, that would absolutely work too!
1. No other traffic around- it was a 'drive by' spot. 2. Not great parking. In the 'burbs, people are not used to street parking at all- they love a lot. So while I had parking right out front, people didn't get it. 3. The income in town... so most people kind of maxed out their income on housing and spent the rest on their kids. I should have been closer to the city where incomes were higher and more single/no kids people lived!
Federal EIN, State Sales Tax Licence, Biz License/permit from your town FOR SURE... maybe occupancy permits, fire permits... those I'm not too sure about bc they vary locally. Call town hall and ask!!!!
We do have it available Globally as a print on demand product. Do you have a local bookstore that could order it for you? I know I have had sales in India, UK, Germany through Amazon Global... they may ship this to Nigeria: www.amazon.com/Ultimate-Boutique-Handbook-Operate-Business-ebook/dp/B00UFHNQPE?ref_=ast_author_dp&ccs_id=7146721f-b0d4-46f6-b800-7d2201622229 If Amazon doesn't work- you should try a local bookstore and speak with them about it!
Gem... have people pick up at the store. This can help in so many ways. It's deeper than explained 💎 💎 💎
thank you so much for all of your comments!!!
I’m seriously considering & planning to move my custom dressmaking and alterations business out of my home and into a brick & mortar location a few towns away. Thanks so much for this great video! So helpful and motivating!
Great! I'm so glad that I'm giving you different perspectives!
Finally the video I've been looking for. Thank you!
So glad you found it!! I have a bunch of videos that relate to opening a boutique! I hope you can watch more!
Switching from online to brick and mortar! Your videos and podcasts are so helpful!
so happy for you!! please note that your online sales will go down with the shift in your focus! I see it everytime... doesn't mean you won't make it up in b&m- the money just shifts over!
I'm trying to write a series centered on individuals who own their own boutiques. I've been struggling to actually find a step-by-step guide as to what a boutique-owner hopeful should consider. This has been pretty helpful, and I think I will be watching more of your videos.
I am curious about the legalities of it all. Who helps with taxes? Who gives financial advise or helps with budgeting? How does that work and how do you manage it yourself? Do you hire attorneys or lawyers before opening the business? Do you have to go to City Hall for licenses? What kind of licenses or permissions do you need? I would appreciate if anyone could help me with the details.
Hey there-- literally have all the answers to these questions in my book. You should read it-- bit.ly/boutiquehandbook
Omg! I'm glad I came across this video. I'm in Canada 🇨🇦 and thinking of expanding my boutique to a brick and motar after being online only for 3 months
What part of Canada? Brick and mortar has different challenges than online, but can be really rewarding if you love working with people in person!
@@Emilyboutique I'm in the Province of Ontario. 1hr away from Toronto.
@@brightstarfancyboutique very cool! I'd just make sure the location you choose has good visibility!
All great suggestions! We are on the way to COSTCO, so people see us. Also being 2 doors down from a Nail Salon, we find the ladies exiting are too busy taking pics of their nails, but eventually they wander in, wondering if we are new LOL (we have been in this plaza for 4 years) LOL.
That sounds like an awesome location Patricia!!! It’s kind of nice to always have people discovering you!!!
yes I am so ready
YAY!
Watching from The Bahamas 🇧🇸🤗
Hello Crystal!!
Great information
So glad it’s helpful!
Watching from Zimbabwe🇿🇼. Am about to open a boutique in a week excited and nervous
That's awesome! I'm excited fo you!
Would you suggest having an online store first before opening a storefront? Like what if I wanted to open the storefront first, then online portion second?
Hi Nina! I think you can do it either way. The one benefit of opening online first is that you have a built in audience of people ready to show up at the store. I've found that online boutiques somehow reach a local audience first when they open, so it translates really well. If you go storefront first, it is a bigger investment out the gate (or online first would "fund" the store...) and you really do need an amazing location that has traffic built in. Hope this helps! Emily
@@Emilyboutique Thank you so much Emily! It does help! My thing is I am a plus size and shopping online for plus size has not been so great- a lot of returns/things not true to size, etc. So, that's why I am thinking of creating a storefront with a better experience. I found you online last night and will certainly be absorbing more of your content! Thanks again!
@@TheNinaNicholeShow awesome! I agree that shopping plus size online is tough! Use the search in my FB group to start exploring the plus size vendors that are available to boutiques. It's a bit slim, but you could make it work!!!
Thank you for the tips.
You're welcome! Thank you for watching!
Hi watching from Trinidad 🇹🇹
hi hi!!!
Build a wall you can move later.
Watching from Australia
Hi Manda!
I’m watching from Merida Mexico!
Hola!
@@Emilyboutique Hola. This will be my first boutique and in a new country. I scared and excited at the same time.
Am wondering about your thoughts on buying an existing business and rebranding. Example: purchasing an existing gift shop that carries greeting cards and gifts and turning that into a gift shop that sells local artisanal products, art, etc. and maybe keeping some of the existing most popular products. So it's in keeping with the gift shop idea but changing the name of the store and the type of things it carries. Is that a dangerous idea, ie: if the current business is successful, you may lost that client base if you switch it up?
Honestly the biggest issue I always see with buying a business is that the current owner WAY overcharges for it. They think there's sooo much value in what they've built-- but I'm not always convinced that's quite true. I feel like I meet people who are $100k in debt from investing in a current business when using that kind of money to start fresh might be a more incredible set up. If it's truly an awesome business and you think you can stay true to the customer base and make it better, I don't think you'll alienate the regulars if you do it slowly. There's plenty of businesses I like but wish they'd do some needed updates :O
Watching all the way from the Philippines :)
Wow! Thanks for watching!
British Columbia, Canada! 🇨🇦
Hello in Canada!!
My store recently went viral on Facebook and I've been selling out faster than I can restock and I'm having the issue of keeping the store filled I did finance the store on my own as in I found it myself I had saved up almost 20 K to do this, so you can give me tips and tricks to help me out that would be greatIt's been crazy I'm in the town of Augusta Georgia and not too many plus size boutiques out here so when I posted it on the community page people in sane and now I'm just trying to keep up didn't think I would go viral
I sold out within the first week of opening I open June 5 and everything sold out by June 12
Wow!!! Congrats!!!
Here’s the thing- if you’re markup is good, you should have plenty of free cash to keep ordering inventory. Are you charging 3x on your wholesale to retail??
Also I’d love to suggest that you pay yourself back that initial investment in manageable increments, so that you don’t cut off your cash flow!
What else do you need help with?
@@Emilyboutique No I'm only doing 100% mark up so whatever the unit price plus the hundred percent and I think that's where I'm going wrong because everybody that comes in has said my prices are very cheap compared to torrid and they're really happy about the prices but I'm scared that I'm screwing myself in a sense. I'm scared if I put my price is a little bit more up that I will scare people away
Diana Mejia so a $10 item wholesale is $20 retail? Yikes! Yeah you have to start adding some margin as you get new arrivals. People like what you have and you’re the only person in town so you have a head start!!! Slowly raise your prices or honestly, and I hate saying this, but you’ll run out of money.
@@Emilyboutique alright sounds like I need to get my ball going here
How can you find the best areas for your niche?
What I worry about is coming up with fee every week. We’re I live suites are popular. I get Sociol security so it’s really hard to open store . But not getting sells online so doing pop ups
Pop ups are a great way to test the market and your product assortment. I just did a podcast about them too: podcasts.apple.com/us/podcast/601-how-to-do-a-pop-up/id1208014382?i=1000546966693
Haha
I’m like 3 hours from my location BUT I’m on transport so that’s time I use to do orders, work on the art I’m like forced to be productive… I could also Nap
That works!!! So far though... you are braver than I :) !!!
I have been online and now opened a space in a building where there are Suites rather than store front. It is a small space and perfect to start out with, but getting local customers in there. I plan on doing an Grand opening, but since not a B&M what do you suggest marketing wise. I have been passing out fliers and cards to friends and family, customers and church.
Get going doing videos on social! Focus on having local people share about you. Get a google business listing and build it out with photos and information. It’s going to take time to get people to come in since you’re more hidden.
My boutique @Mondoestilo is in mexico. Just opened up a better location in the Yucatan.
congrats on your new location!!
I am thinking about if opening my store ,rent is 6,000 a month.It is very busy area, close to apartments and hospital. I sell in Etsy right now,but it is not going well, but every time I do local market sells pretty good. So, that is why I am thinking of opening a brick and mortar store.
If you have around $20-30k saved then I think opening in this location sounds reasonable (that said, I have no idea where it is or anything about your store so please take this as some input only). I think you've got to make sure the investment in your assortment is a good variety that caters to one customer. My guess is you'll need to spend at least $5-10k on inventory to open a b&m store with appropriate levels. What do you sell? And why Etsy?
$6k/month is a lot!!
@@rachelvixie2767 thank you
I am contemplating opening a store for special makeup effects supplies in my town, but I am worried about the risks as I have a small family and I am the primary breadwinner, and want to minimize the risks. This is a very specified type of store, but there is demand for one in my town, but it is hard to make that decision and run the risk of putting my small family at risk.
Can you do both your breadwinner job and the store at the same time? Maybe you need some employees right away to begin?
I am researching and would love to open a boutique. I liked the suggestion of looking up demographics because I think my boutique is for a specific person. I’d love to offer some hand made items and altered or embellished clothing maybe repurposed. With alterations services.
Have you seen anything like this?
Sure! You can sell whatever you want as long as you have an audience for it!
Ask around if you're interested in a business spot or building 💎💎💎
Hello, is it better to secure your location first if you have the money or to stock up on products first and store them at home until you find your location? Thank you
I would secure your location first so you know how much you need (size), the fixtures you’ll fill and exactly the customer profile!
Can you tell me what the percentage of cogs, wages, and rent should be in comparison to revenue? I have a pretty busy retail store but our expenses are break even or even more than the revenue sometimes, so I'd love to know what I should be aiming for
There is no one answer to this. The problem is your markup/margins though. The only way we make money in retail is either to sell more units or have a larger difference between wholesale and retail. If you don't have money at the end of the month then what your markup is, is not covering the cost of running the business.
@@Emilyboutique Ok great, this is great advice! time to up the prices and see if that helps :) thankyou!
Commercial rent and NNN is ridiculous. I wish she would just say that. No one should be spinning their wheels or going bankrupt just making commercial owners and property managers richer....and people are...
Do you believe opening a store front nowadays is worth it? Or is it better to be online only?
I think a storefront can be amazing in the right location and community! I see many brick and mortars doing $30-100k a month. If you want to build your brand and local community by starting online, that would absolutely work too!
You mentioned you made some mistakes with choosing your own location. What were they?
1. No other traffic around- it was a 'drive by' spot. 2. Not great parking. In the 'burbs, people are not used to street parking at all- they love a lot. So while I had parking right out front, people didn't get it. 3. The income in town... so most people kind of maxed out their income on housing and spent the rest on their kids. I should have been closer to the city where incomes were higher and more single/no kids people lived!
What licenses do you need for a brick and mortar?
Federal EIN, State Sales Tax Licence, Biz License/permit from your town FOR SURE... maybe occupancy permits, fire permits... those I'm not too sure about bc they vary locally. Call town hall and ask!!!!
Where does a person find suppliers?
I have a video on that here: th-cam.com/video/8Txv99WAnUg/w-d-xo.html
Pls I do I have the hard copy of the book in Nigeria shipped 😊
We do have it available Globally as a print on demand product. Do you have a local bookstore that could order it for you? I know I have had sales in India, UK, Germany through Amazon Global... they may ship this to Nigeria: www.amazon.com/Ultimate-Boutique-Handbook-Operate-Business-ebook/dp/B00UFHNQPE?ref_=ast_author_dp&ccs_id=7146721f-b0d4-46f6-b800-7d2201622229
If Amazon doesn't work- you should try a local bookstore and speak with them about it!
How do I make employees applications for hiring?
google it! there is a standard template!
Nigeria location