3.
Re: new boutique---name brands needed? Sep 13, 2009 3:58 PM
in response to:
maddyg
maddyg:
Congratulations on your new venture.
As Luckiest suggests, developing a business plan is a key element in creating a successful business. Now although you have already opened your doors, doesn't mean that you can't go back and create a plan and do your research now.
I have a free page on my site that gives the break down for a business plan. Here is the link:
http://thesologuide.com/planning/
One of the key elements of the planning phase is defining your target market. Do the demographics of your growing town of Gulfport want the "good names" or do they want good qualify product? Are there smaller designers that would fit your demographic better?
If you find that the name brand labels are what will bring them into your shop, I recommend that you research how many other shops in the area already offer these branded lines. If you have solid demographic data that is the target market for the name brands and you can show their limited visibility within your market, you may be able to get their attention to give your shop a shot.
Is the focus of your shop beyond going with the designs that these retailers would send off to outlet malls or taking product that was rejected from going to the big box stores?
I recommend that you take a step back and develop your business plan (if you haven't already) which will include research of your local demographics. You will then need to decide your USP (unique selling proposition) and see if that includes providing the bigger name branded products. If it does, you will need to go back to them with a reason why your boutique will benefit them beyond having more racks to put their clothes on.
Hope this helps.
All the Best,
Doug Dolan
The Solopreneur's Guide
http://thesologuide.com
