Also called: Specialty Store Owner, Owner
Successful boutique owners are very entrepreneurial-minded and driven people who use a combination of savvy business skills and in-depth knowledge of the fashion retail industry to make a profit. Their stores often target a specific customer profile and often carry a specific mix of clothing and/or apparel designers that appeal to this demographic. Boutique owners must be jacks or jills of all trades as they typically oversee all aspects of a boutiques operations from planning and purchasing their inventory, setting up the in-store displays and managing employees.
$0 to $100,000+*Losses are expected in the first few years of operations due to initial investments and expenditures. Once stabilized, boutiques can become a good source of income for its owner as well as an alternative to working very hard for someone else.
Being a small business owner is a dream for many people, and the value of being one's own boss cannot be underestimated. Setting up a boutique usually requires obtaining a bank loan or drawing from personal savings to cover initial investments. Often, successful owners are those who can attract investors with a solid business plan and operational structure. Once the store is profitable, owners can go on to open additional stores, or if they have created a strong enough brand, sell franchises for subsequent locations.
Education – A bachelor’s degree in Business Management or Fashion Retailing/Merchandising/Marketing is common. An MBA is a plus in attracting investors.Experience – Extensive experience in the fashion retail industry in a variety of positions usually starting at the level of retail sales associate or stock clerk and with some experience as a retail store manager.Personal Characteristics/Skills – entrepreneurial and risk-taking personality; solid business background in fields such as Marketing, Accounting, Sales and Management; in-depth and up-to-date knowledge of the fashion retail marketplace, including trends and forecasts; flexible; multi-tasking capabilities; excellent time management and communication skills.
Retail Sales Associate > Buyer > Retail Manager > Boutique Owner