Should I take the leap to start my own online boutique?
I have an online group of about 1,000 members I currently do discount buys for. I have been wanting to open an online boutique but I'm scared to take the leap. My reasoning is the supplier for great quality clothing that I use requires me to buy 20 pieces of the same item (but can mix sizes and colors). I’m afraid to put so much money into it as a startup and have it flop. My family doesn’t have a ton of money saved, but if this works out it would be a great source of income. Thoughts? Spend the money and take a chance? If so, how many different clothing items would you start with? Keep in mind I have to do 20 of a certain print/type. Thanks!
I would start by surveying your 1,000 members. Would they be interested in shopping at an online boutique you may open? If so, what types of items would they be most likely to buy? This could help you get a better understanding of whether your boutique might be successful, as well as what kinds of items would be most likely to sell right away.
What you can start doing is:
1. Survey your current members, by posting designs and asking which one would they prefer.
2. Ask the supplier if you could show the clothing on Facebook live from your page and get pre-orders. Once they allow you, go live and ask for pre-orders. This works because people can see the clothing live which builds trust.
3. Buy the most sought clothes, make videos and run Facebook ads. Trust me clothes convert well on Facebook ads.
CEO at Products You Can't Refuse
Are your 1,000 members loyal? Do they provide a stable revenue stream? If you can replicate and grow what you've already been doing, why not?
If you really want to do this then you should do it. If money is an issue then you should find some funding ideas to help you get this business started. Some ideas may include a car wash or a yard job. Look for any side job you can find.
If your 500 members are loyal, they should provide a good revenue stream. If you give replicate and increase what you have already been done, then why not?
Best of luck!