Writing a business plan can be the key to your success as a clothing Boutique, since your goal is not just to compete with other boutiques but with factory store outlets, internet businesses, retailers, and big box merchandisers. It’s a rough business but ultimately worth it, though having a business plan before purchasing wholesale apparel or off price apparel is a key way to not only get investors or be taken seriously, but also give the potential to secure extra financing to help you secure your place as a business.
You’ll start off with an introduction of your general business idea or description, legal business description (i.e. sole ownerships or partners). Give a list of all the owners and their contact information, as well as the boutiques contact info. Then give a comprehensive list of all your products, explain why they are unique and the customer benefits. Give where you will get them, and your costs. Describe your target audience and how you will market yourself. List your location or the amount of space you will require. Describe operations, equipment, shelving, etc. Explain your competitors, and your strengths and weaknesses compared to competition. Show why your boutique is worth the investment. List staffing needs, be clear what the function of each position is. Then give your own financial statements, cash flow, income, etc. statements. Then summarize the business plan in less then two pages, use it to plan out an executive summary and place it in the very front of your plan. Include the amount you are looking for if you are seeking financial aid. Last but not least, create an appendix! Include any documentation that will support your statements. Make sure to make it look nice!