Start A Fine Jewelry Business
72
|
FabJob Guide to Become a Boutique Owner (FabJob Guides)
Price: $25.60
List Price: $49.95 |
|
Become a Boutique Owner [With CDROM] [FABJOB GT BECOME A BOUTIQU]
Price: $54.99
|
|
The Baby Owner's Manual: Operating Instructions, Trouble-Shooting Tips, and Advice on First-Year Maintenance
Price: $7.20
List Price: $16.95 |
Interview By AlyiceEdrich.net
Two years ago, I interviewed a woman who inspired me with her exquisite, yet affordable, handmade jewelry. I interviewed her for a home business e-zine and she was extremely forthcoming with information. Today, her business is still going strong and therefore, you can take the advice she offers below to the bank! Read, consume, read, and apply. Enjoy...
I understand you own both an online and a brick 'n mortar boutique shop. Can you explain the difference between a boutique and a regular store?
A boutique is a small shop that sells specialty items. Boutiques are owned by individuals who have a vision and want to sell their own work. Boutiques offer personal customer service and are typically more favorable than shopping at the local large department store.
Regular stores typically carry items that can be found just about anywhere. But boutiques offer unique, often one-of-a-kind, items.
Most boutiques offer handmade items, which are often sold on consignment or per project basis. In my boutique, for example, I have wholesalers who place their handmade products on consignment in my shop. In other words, they don't get paid until the item sells.
My boutique offers handmade children's clothing, hair bows, jewelry, handbags, quilts, murals, furniture, soaps, and pencil art. We also specialize in personalization by offering monogramming and engraving.
Was there anything particular in your life growing up, or as an adult, that helped lead you to become the owner of a boutique? If so, can you explain?
As long as I can remember I have always wanted to have my own business.
Knowing I wanted more than just managing someone else's business, husband encouraged and allowed me, to turn my dream into reality.
Before starting your own boutique business, did you have an internship anywhere? Or did a particular job help prepare you for a career in this field?
I worked for Talbots Kids as an Assistant Manager for several years. I enjoyed creating displays and loved merchandising. So I guess you could say being the Assistant Manger for Talbots Kids is where I gained most of my experience. I was responsible for managing the store, merchandising and local advertising. And since the Manager was out on Maternity leave for quite some time, I took over running the entire store which showed me what it would be like to run my own store.
Once you decided to become your own boss, how did you find the capital to start your business?
I prayed, a lot. I did quite a bit of Internet research. I contacted my father who had run a business himself for advise as well as the Small Business Administration.
When I tried to get a business loan, I was told that I couldn't get a business loan because I didn't have a business of my own before. I left the lender's office very discouraged, but determined to make my dream possible.
My husband and I didn't want to fund my business with a second mortgage for fear of losing our home should the business fail.
We received several offers, in the mail, for loans requiring no collateral. We researched the companies who sent us information and chose MBNA because they offered the best rates. Then we started receiving credit increase notices from our credit card carriers. (The magic of prayer!)
Which did you start first, the web business or the brick 'n mortar?
When I was started working to get my the brick 'n mortar business off the ground, I began creating my web presence at the same time. Because it's easier to start an Internet business, the web business actually started first.
Running a brick 'n mortar usually requires overhead costs, space rental, and the hiring of employees. When did you decide it was time to hire an employee and how many did you hire off the bat? How many do you have now?
Having a brick 'n mortar does require a lot of overhead costs such as rent, utilities, shelves, cash register, shopping bags, shopping carts or carrying baskets, special insurance, etc. But we have been open since August 2005 and have yet hired any employees. I currently run the store on a full-time basis, on my own. (I hope to hire someone part-time in the near future.)
With capital in hand, what was one of the first things you did to get your business off ground floor and how did it turn out?
The first thing I did was secure my space at the strip mall where my boutique is located which meant paying a security deposit and first month's rent. (Editor's note: Some strip mall's require a year's worth of rent up front.) I also had to set monies aside for buildout and future expenses.
What was the most difficult thing about starting your boutique business?
Buildout of our space. We had to get a building and electrical permit in order to finish the inside of our store. We did all the painting and decorating ourselves.
Did you ever have a business blooper? If so, what was it, what happened, how did you resolve it, and what did you learn from it?
Well, I guess that would be our store sign. The landlord has a certain requirement for store signs, in which store owners must follow or the signs can't be put up. I provided this information to the company that made my sign and began the design process. My landlord was very skeptical of the sign having a seam in the middle. So, we created a double sign. One sign had our company name and the other sign had the words, "Gifts & Accessories". I wanted the sign colors to match my store logo so I chose pink on white. Once the sign went up I realized my mistake. The pink was too light on the white background and the font size we used was too small which makes it difficult for customers to see our sign from the road.
What I learned is to really listen to the experts. The sign company warned me about the pink and suggested a darker pink, but I didn't listen. (We are in the process right now of fixing the sign which is going to cost us more money.)
What method of advertising have you found works best in regards to not only getting the word out about your business, but helping you turn a profit? Why do you think this works so well?
I think word of mouth is the best advertising. I am involved in several networking groups in my area which has helped my business tremendously. We also have an ad in a local direct mailer which offers a coupon for a free gift. The coupon brings people in the store because everyone loves to get something for free. The benefit of offering something for free is that it gets people into our store and once they're in, they're more likely to buy. In fact, 9 out of 10 people become customers and purchase something.
Another advertising tool I use is my signature line. On every email I send, I include the following information under my name: company name, website address, and business information.
What lessons can you instill in others with regards to customer service?
I believe in the customers are always right. It's an old cliché but it works. It is important to greet every customer who comes into my shop with a smile. I make customers feel comfortable and refuse to be pushy. I also incorporate the following company motto, if a customer is looking for something special and I don't have it, I will do whatever it takes to find it. If I can't get it, I will tell my customer where to get it. This motto makes my customers feel special and they should feel special. It's time to bring back customer service.
If someone was looking into becoming a boutique owner, what advice would you offer?
If you have never worked in a retail shop before, work in one on a part-time basis to see what it's like. Talk to other boutique owners about their experiences. Ask to be an observer in their business for a day so you can watch the day-to-day routines of running, operating, and managing a store.
Research the vendors you want to carry in your store. Scout out businesses like yours and observe how customers respond to their items. Check their pricing structures, decide which items they carry that you don't want to carry because of potential pricing wars, and try to be unique.
Are there any resources, books, or colleges you would recommend?
There is a great online book by Style Career on "Breaking Into and
Succeeding - Boutique Owner" by Jennie S. Bev & Debbie Cook. This book covers everything from myths and reality of becoming a boutique owner, negotiating your lease, merchandising, advertising and the list goes on.
Could you take one week of your business and mix it up to give us a broad overview of what a typical day would be like as a boutique owner?
Well, I come in each day and re-arrange the store a little bit so repeat customers get a chance to see something new. I know this technique works because I often have repeat customers comment on something being new when it really isn't. It's just the way I arranged the products.
I call customers about orders or monogramming services that are ready to be picked up.
I work on incoming inventory by entering data into the store computer, pricing items, and putting items on display. I then upload new items to my business website.
Finally, I work on behind the scenes things like: accounting, advertising, and promotions.
But the most important thing I do is help the customers. I greet each customer and ask if there is anything special he/she is looking for. If he/she is looking for a gift for a friend, for instance, I will ask probing questions to help him/her find an item that matches his/her friend's tastes.
Visit her at http://www.mysimpleindulgence.com/store/Default.asp
- Click to learn more about this hub's author, Alyice Edrich
Quick Request: If you like my hubs, please give them a THUMBS UP! And if you really, really like them, leave a comment or sign up for the RSS FEED...
PrintShare it! — Rate it: up down flag this hub








