How to Launch an Online Boutique

I once saw a photo on Instagram that said something along the lines of "Imagine if Rihanna never started Fenty because there were too many beauty brands out there." Whew! Sis, there is a lane and a market for you! You are your most valuable asset. The differentiation factor just might be how you execute the business. While I'm brand spanking new to the online boutique game, celebrating our one year anniversary today, so many women have asked me how to launch. Here are a few tips to consider as you move forward with your boutique idea:

1. Know who you want to serve. You can't start out trying to reach everyone. Select a target, research the target's behaviors and cater your business to your ideal client. 

2. Develop your business structure. I chose to go with an Limited Liability Company (LLC), because the owner(s) are protected from liability. I used Legal Zoom to do so, but now-a-days, you can truly google your way through it. Once your company is set up, you'll have the option to obtain your EIN number and state taxpayer number. Your local state comptroller will need to become your friend. Call them, and use them as a resource for obtaining your resellers permit. The State taxpayer number and sometimes a copy of your resellers permit is required to receive access to wholesalers' inventory. 

3. Secure your domain name, and social handles. Once you have your business set up and name solidified, visit GoDaddy.com to secure your website domain name. Choose social media handles that make sense and are consistent across all platforms. 

4. Develop your brand. Start crafting messaging, a logo, and graphics that will appeal to your ideal client. 

5. Choose a web platform. Decide which website platform will work best for your online store. I chose Shopify because of the integrations, and price point. Other options include Squarespace and Wix (which some hate on, but I like that wix is an easy-to-use website builder). I used wix to create gospelpr.com and I believe that Stylist J. Bolin also uses the platform for his online boutique. 

6. Find Vendors. Do you know one of the first things I did? I looked in my closet. I looked at all of the labels and items that were my favorite pieces and created a list of vendors that way. Finding and knowing quality vendors can be difficult, and is a constant challenge for boutiques searching for unique inventory. There are multiple trade shows that you can attend to wet your feet and obtain vendors. Some are selective in who they work with, and require references or a storefront location.

7. Create a marketing strategy. Before you launch think through how you'll reach your ideal client. What websites do they visit? What media outlets do they read? What are they shopping for? When are they shopping for these items? You will come to realize that your direct circle typically aren't your customers. Strangers who get it and want to support will rally behind your brand if it is properly positioned, and meets their needs.

8. Consider cost variables when setting your pricing. You my dear, not only pay for the items you're selling. You have to pay for shipping of those items to your address. You have to pay for the website hosting, and credit card processing, quarterly sales tax to your state comptroller, shipping materials, marketing materials, email database services, etc. Build this into your pricing of items or you will soon find that you're making money but not profit.

If you're reading this and you're also a boutique owner, share your thoughts in the comments. What are some lessons you've learned along the way?

xoxo, 

CARTIAY RESHAY

*I highly recommend speaking with a lawyer and accountant before venturing into any business. The statements above are not intended to provide any legal, financial or tax advice, and should not be relied upon in that regard.*