Opening a sunglasses boutique is like opening any other business. It also needs a specific business plan and needs thorough research on the specific niche you want to serve. You also need to choose the eyewear you want to market and find sunglasses suppliers that manufacture or distribute them. You also need to choose a retail location after you get financing. Then, you will be ready to market your boutique and products to your chosen niche.
1. To start your boutique and find sunglasses suppliers, you need to choose a target market first. Choose a niche market that is not served in your area, base on your research. A number of small businesses use their secondary research results such as marketing studies and information, while you base it on your initial research. Find articles and studies about your target market as well as the popular sunglasses within that market. You can also ask your local small business development center or chamber of commerce to help you with research resources.
2. Select sunglasses for your niche market based on your research on competitors and consumers that exist in your location. A product may be popular in your selected niche but may already be served by a number of retailers in town. Choose a product with the fewest competitors or one that is different from products already served, to gain an advantage over other business owners.
3. Find sunglasses suppliers or manufacturers of your chosen product. If you plan to sell many products, ask the manufacturer of products you can purchase directly and inquire if the distributor handles product fulfilment. If you have chosen a specific product, ask about exclusive marketing opportunities. Also, research business in other cities and find out where they purchase similar products. You can contact retail associations or conduct a research on online retailers as well.
4. Choose a retail location that will provide your business with the most visibility. However, it should also be within your starting capital and projected cash flow. Although a location is perfect for your store, you should choose another option if your revenue cannot support the lease payments.
5. Make a yearly budget of your boutique and look for the need financing. You can ask help from the chamber of commerce or small business administration office with the financial options and plan. Also, be ready to present your business plan before approaching investors.
6. After opening your boutique and finding sunglasses suppliers, market your business. Join associations, organizations, and business networking groups to build a support group to help you promote your business.
To know how to open a boutique and find sunglasses suppliers and start your own business. Read more.