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Share on Facebook Finding unique products and helping customers choose the right item is just the start when it comes to opening your own boutique shop. You also need a business plan to secure a loan to buy inventory and set up your store.
Even if you have the cash to open your boutique shop, a business plan helps you uncover ways to reap the financial rewards of owning and making your store profitable.
|Creating a Business Plan for your Online Boutique - Online Boutique Source||Our clothing store is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Los Angeles and few meters away from a busy business district. We have enough parking space that can accommodate well over 25 cars per time.|
Executive Summary Even though you typically write your executive summary last, this section goes at the beginning of your plan where it summarizes your idea for a boutique shop. Mention your motivation to open the store and your background in selling the products you plan to offer.
Describe your financing needs, and explain what the loan covers, such as refurnishing the store or buying inventory with which to fill your shelves. Products and Services Write down the details about the products and services you plan to offer, such as selling designer clothing and shoes in an intimate setting.
Describe any services you provide, such as custom tailoring if you sell clothing. Mention how you obtain the products you sell from manufacturers and explain how you plan to price items.
Location Describe the location of your boutique, and explain how its proximity to a high traffic mall or renovated downtown area makes it an ideal spot to open your shop. Explain the contractual terms of the lease and any remodeling you must undertake to make the space fit your needs, such as creating changing rooms and display areas.
Mention what days and hours you plan to open as well as extended hours near holidays. Market Analysis Provide detailed information about the audience your boutique appeals to and why such a shop is needed, such as providing quality products or more choices.
Take a close look at your competitors, including boutique stores selling similar items, department stores and online retailers.
Describe how you plan to differ from both traditional and online companies, such as by providing personalized service or an intimate, cozy setting. Marketing and Sales Strategy List the ways you plan to promote your store, such as by holding a grand opening event, sending press releases to local papers and placing ads in local publications that appeal to the people most likely to shop at your store.
Describe your sales process, such as greeting each person warmly when they enter the store and offering to help them find specific items.
If you plan to offer credit or layaway, explain your policies. Management Explain who will manage your shop -- if you plan to handle daily operations, describe your past experience and your business acumen.
Talk about the qualifications your staff needs, such as strong customer service skills and the ability to comfortably persuade customers to buy the goods on your shelves.
Financing the Store Prepare three years of profit and loss statements that show the cost of your lease, remodeling and furniture, such as shelves, lighting and cash registers. Include estimates for ongoing utilities. Other expenses include buying inventory and paying staff.
Project how many products you need to sell on a weekly basis to meet your budget and pay your business loan.- The first step in which the investor will evaluate the team is according to the way they have prepared the presentation, the business plan, as well as keeping updated documentation, which reflects the professionalism and knowledge in the business area they act.
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