opening new shop

[deborah d]

hi there. please can i get as much ADVICE AS POSSIBLE. I HAVE BEEN WANTING TO OPEN MY OWN BOUTIQUE FOR A LONG TIME NOW. I HAVE RECENTLY LOST MY JOB AND THIS HAS GIVEN ME THE DETERMINATION TO SUCCEED IN DOING SO. I HAVE RESEARCHED THE MARKET AND THERE IS CERTAINLY A PLACE FOR WHAT I WANT TO OPEN. I HAVE SPOKEN TO BUSINESS ADVICE CENTRE'S WHO HAVE PUT ME ON A 4 WK COURSE TO LEARN ABOUT SETTING UP, MARKETING, VAT, TAX AND SO ON. I WILL BE RUNNING THIS PLACE MYSELF. TODAY I WAS OFFERED A FANTASTIC SITE AT UNBELIEVABLE RENT FOR A YEAR TO SEE HOW I GO. IM SCARED AND EXCITED. I NOW NEED TO FIND OUT HOW TO BUY THE BEST STOCK. THE BEST PRICE AND HOW MUCH DO I ORDER. SOMEONE SUGGESTED I DEAL WITH CHINESE MANUFACTURES. HOW DO YOU KNOW THE BEST TO GO FOR. I WANT MY CLIENT TO HAVE THAT BOUTIQUE EXPERIENCE BUT AFFORDABLE PRICE. THE LOWEST SELLING PRICE RANGE I FOUND IN THE BOUTIQUES AROUND THIS AREA IS £800 +. HAS ANYONE EVER SET UP A MOTHER OF THE BRIDE SHOP? THAT COULD ADVISE ME. I NEED TO PUSH THIS THROUGH. I NEED TO PRAY THAT THE BANK FUND ME. FINGERS CROSSED

 

[deniser]

Your post is very difficult to read in CAPS.

 

[Drpepper]

Almost impossible, it's a technique (not accusations by the way) used in unfair contracts/scams etc because it is so difficult to read.

 

[Amethyst]

Can't help now as I am also struggling on what to do here. But you do business with China, I will be here for help if any.

 

[oldeagleeye]

EVEN IF YOU HAD 20 YEARS EXPERIENCE IN THE FASHION INDUSTRY NO BANK WOULD FUND YOU - END OF STORY

Rob

 

[Rhodes100]

Just to confirm, how much money do you actually have?

Putting the cart before the horse saying rings a bell.

A bank will easily see your lack of experience and run a mile, a landlord will also probably want a nice deposit upfront as you will not be able to provide references, one being the bank.

So unless you have sufficient money for say £15k of stock and £15k working capital I would suggest that you forget about opening a shop at the moment.

Get a job in a similar shop and get experience and save money.

 

[IndiCafe]

So it sounds like a local shop selling bridal items that only the bride's mother would buy. Doesn't that make your market somewhat tiny? Just a thought, but why not instead include other services and products associated with weddings, e.g. favours, planning, sourcing cake, arranging suit hire & fittings, arranging car hire, ... etc... Weddings are certainly cashcows, and if you can be a one-stop-shop then maybe you would appeal to more customers. If you did it well, you could deliver the "boutique experience" within the comfort of your customers own home.

Sounds far fetched though

 

[warnie]

Am I missing something here? How can you go as far as lining up premises, doing courses etc when you have no idea of where you can get stock from let alone how much margin you can make on said stock.

Surely the 1st steps should be sourcing stock, then doing research on what you can sell it for, to establish weather there just maybe a business opportunity there in the 1st place. Then you put a business plan together and if it still looks a goer go and see the bank manager. This all seems a bit back to front to me.

I have a friend who's like this, the 1st thing on his list when he gets an idea is to get business cards printed up with his new company's name followed by his name then with "managing director" underneath. It then usually falls down when it dawns on him that he has no idea of how to buy/sell the product!

 

[probider]

in a word your not ready

1. unemployed so probably no cash to put into the business
a big no no with the banks

2. you dont say u have experience and or training in a Boutique
another no no

3. no idea where to get stock from
banks will want to know this info suppliers ect

sorry luv save up 30k or so and buy an existing shop
or start an ebay shop and trade the products for a few years

thx jason

 

[papverpoppies]

hi there. please can i get as much ADVICE AS POSSIBLE. I HAVE BEEN WANTING TO OPEN MY OWN BOUTIQUE FOR A LONG TIME NOW. I HAVE RECENTLY LOST MY JOB AND THIS HAS GIVEN ME THE DETERMINATION TO SUCCEED IN DOING SO. I HAVE RESEARCHED THE MARKET AND THERE IS CERTAINLY A PLACE FOR WHAT I WANT TO OPEN. I HAVE SPOKEN TO BUSINESS ADVICE CENTRE'S WHO HAVE PUT ME ON A 4 WK COURSE TO LEARN ABOUT SETTING UP, MARKETING, VAT, TAX AND SO ON. I WILL BE RUNNING THIS PLACE MYSELF. TODAY I WAS OFFERED A FANTASTIC SITE AT UNBELIEVABLE RENT FOR A YEAR TO SEE HOW I GO. IM SCARED AND EXCITED. I NOW NEED TO FIND OUT HOW TO BUY THE BEST STOCK. THE BEST PRICE AND HOW MUCH DO I ORDER. SOMEONE SUGGESTED I DEAL WITH CHINESE MANUFACTURES. HOW DO YOU KNOW THE BEST TO GO FOR. I WANT MY CLIENT TO HAVE THAT BOUTIQUE EXPERIENCE BUT AFFORDABLE PRICE. THE LOWEST SELLING PRICE RANGE I FOUND IN THE BOUTIQUES AROUND THIS AREA IS £800 +. HAS ANYONE EVER SET UP A MOTHER OF THE BRIDE SHOP? THAT COULD ADVISE ME. I NEED TO PUSH THIS THROUGH. I NEED TO PRAY THAT THE BANK FUND ME. FINGERS CROSSED

Did the business advice centre, not offer you advice on the financial aspects, marketing, tax and vat are all well and good, but not much use if you cannot raise the capital.

I think your excitement has led you to run away with yourself (which I can understand) but your post really does show how little research you have done - and a Mother of the Bride shop, just because you have identified a lack of one in your area, does not make for a success. Maybe, there is not one, for a very good reason.

Last Mother of the bride I know bought her stuff from Marks and Sparks, and the one before that was a revamped suit, times are hard, and people do not have the dosh for fancy wedding attire.

Research this forum on small shops going under left right and centre, and these are people who know what they are doing.

Get some experience and some cash, and then look again in x amount of years time. You might just save yourself a lot of money and heartache.

Last year saw a friend go under in a small market town in North Yorhshire, she was selling what you want to; along with expensive clothes for the 'country lady'. Not only did she loose her business and a whole lot of money, it almost cost her marriage, she had used the house (unbeknown to hubby) to try and keep the business afloat.
It also cost her a fortune to get out of the lease on the shop.

She is back working for the company she worked for, before she went into business, wiser; but an awful lot poorer.

Poppy xx

 

[Drpepper]

Simply niche in High Street retail will never work.

You can do the niche but need it backed up with 101 other items that will sell everyday to pay your rent/rates etc. Additionally you need to keep new and different stock coming in to maintain interest. Our "main" lines account for about 60% of sales the rest comes from 25% "non related" items and 15% ever changing new stock that sells well for a month then dies - that's the nature of niche.

<<Remarks removed by mod>>

 

[Doodle-Noodle]

Change your business model - start a wedding dress/confirmation outfit business catering strictly for the travelling community. Seems money is no object for them - one dress could keep you going for a whole year if Big Fat Gypsy Weddings is really anything to go by (channel 4, tuesd). Fascinating viewing!

 

[Simply Bedrooms]

Change your business model - start a wedding dress/confirmation outfit business catering strictly for the travelling community. Seems money is no object for them - one dress could keep you going for a whole year if Big Fat Gypsy Weddings is really anything to go by (channel 4, tuesd). Fascinating viewing!

this is so true, unbelievable what they spend, I guess its all the money saved from not doing all the normal things e.g paying rent rates mortgages etc.

 

[Stuart Bailey]

As a matter of interest what was the name of the business advice centre?

regards

 

[hatchethottie]

I have everything you would need for sale. I own a designer boutique - here take a look it's on ebay - 110645243070 just put that number into ebay.


I will accept offers. Feel free to ask me any questions. It's not impossible, I did it! Just very hard.

 

[papverpoppies]

I have everything you would need for sale. I own a designer boutique - here take a look it's on ebay - 110645243070 just put that number into ebay.


I will accept offers. Feel free to ask me any questions. It's not impossible, I did it! Just very hard.

That seems an awful lot of money for what you are selling, I though it was for lease as well

Poppy xx

 

[hatchethottie]

That seems an awful lot of money for what you are selling, I though it was for lease as well

Poppy xx

It's open to offers - that price was to sift out anyone just clicking 'buy it now' without asking questions first. If you are interested, there's plenty of money to knock off if someone comes to view!


xxx

 

[forcatalogsss]

yea, all opening have to show something in the arc, otherwise it would be very boring and well One Piece anime opening theme usually last 50 episodes, compaer to Naruto, Bleach, HItman Reborn which only last 25 episodes so well have this opening for a year probably

 

[mybridalgown]

Simply niche in High Street retail will never work.
<<Remarks removed by mod>>

Kind of a negative remark isn't it? How about you people give this person advice she can use instead of being so critical?

I cannot believe people are so RUDE!

 

[HarveyBentley]

I loved the end of your thread - the part about the bank funding you. I went to the bank about a loan of £5k-£10k and they wouldn't even look my way with all the experience I've gained. You could have 50+ years retail experience they still wouldn't look your way.

 

[Senington]

This post is terrible. I doubt anyone will read it.

STOP SHOUTING AT US!