What do I need to know: my best friend & I want to open a bridal boutique?

Question

We live in Bakersfield, Ca and know that we both want to own a business someday.

We need to know where to start. What we need to know and what we need to do. Where do we get the products from? I want to know EVERYTHING! We are starting from scratch.....

Answer 1

I would first recommend working a bridal boutique for a few years and gettin a degree in business management before you try to get loans from the bank. Getting money is harder than you think, and those are the top 2 things banks looks for - experience in the field and your education. Good luck.

Answer 2

I suggest taking courses or seminars. Trade shows are the best places to hook up with suppliers.

Answer 3

First what you need to do is sit down with a piece of paper & get all your ducks lined up in a row. Meaning this:

(1) Are you & your best friend going to be the only ones running the shop or will you have other employees

(2) What will you have in your shop. Will it be just dresses & if so what sizes will you carry. Will you have extended sizes.

(3) Will you have bridesmaid dresses

(4) Will you carry shoes to go with the dresses

(5) Location, where will your shop be & how big will it be.

Then you go to the bank or financial institution and ask for a small business or business loan and show them your 'game plan' that you've written down. Once you get that, go to the business license department and apply for a business license. Just know that getting your business license may not be all in one building. Like out here in Vegas, if you want to get a business license you have to go to a couple of different offices so it turns into an all day thing just to get a piece of paper that allows you to open a store. Another thing you could do is find a bridal shop and look around to give yourselves an idea of how to set up your own shop. I hope this is helpful of you and best of luck to both of you!

Answer 4

Where you get your products from depends on the clientel you are catering to.

Cheap?  Designer?  

You mentioned boutique, but are you looking for cheap (think David's Bridal $100-900) or designer (Vera Wang, YSA, Enmanuel)?

When you make that decision, make sure you find a location that will be good to get the type of clientel you are looking for.... a commercial real estate agent would be helpful in that regard.  

Decide on clientel and brands that go with that clientel, then contact the "wholesale" or "stockists" of that brand (search for their website they always have a wholesale link)... you will have to negotiate prices, etc.

Good luck on your new business.