Boutique Business Plan Checklist

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Boutique Business Plan Checklist

A Boutique is a small store that sells stylish fashionable cloths, jewelry and other luxury goods. A boutique is actually a specialized type of retail store for particular segment of markets. Boutiques are also symbolized by limited product variety. Boutiques are most common in investment management and investment banking industries.

Checklists for starting up of Boutique

  • Decide what type of boutique you want to open
  • Evaluate the competition in your area
  • Find out if there's a market for a new boutique in your area
  • Draw up a business plan
  • Visit an accountant to determine the viability of your business plan
  • Acquire the investment capital you need to open a boutique
  • Find the venue for your boutique
  • Design your boutique and furnish it
  • Determine which suppliers you want and order your inventory
  • Interview and hire employees
  • Advertise your fashion boutique online, in print magazines and papers, and on flyers
  • Open your fashion boutique for business
  • PAN Number and TAN Number
  • VAT registration
  • Service tax
  • Shop lease agreement
  • Shop and establishment act registration
  • Trademark registration

Essential Supplies for a Boutique

  • Table chair for the receptionist, placing the billing system, and stationery
  • Clothing stands
  • Hangers
  • Steam irons
  • Air conditioning or fans, ceiling lights
  • Water purifier
  • Accessories stand
  • Outdoor signage board
  • Fliers, brochures, business cards, covers/bags printed with the boutique name
  • Containers to store items, such as, accessories and other fashion supplies
  • Floor carpet
  • Sewing machine for alteration of clothes
  • A changing room with mirror and hooks to hang clothes

Market Size

India’s Boutique Business plan is suspected to develop at a Compound Annual Growth Rate (CAGR) of 10 per cent to US$ 1.6 trillion by 2026 from US$ 641 billion in 2016. While the overall boutique market is expected to grow at 12 per cent per annum, modernized trade would expand twice as fast at 20 per cent per annum and traditional trade at 10 per cent#. The Indian boutique industry is one of the fastest growing in the world. The retail industry in India is supposed to grow to US$ 1.3 trillion by 2020, enrolling a Compound Annual Growth Rate (CAGR) of 16.7 per cent over 2015-20.

Recent Trends

  • Boutique goes budget
  • In-room technology
  • Brands
  • Boutique B&B
  • Lifestyle hotel
  • Digital signage and experience
  • Mobile commerce
  • Community peers and store neighbors
  • Social media
  • Whole sale buying
  • Subscription models
  • SnapChat marketing
  • Mobile payments

The boutique business plan represents business plans, retailing plans and other necessary details with an illustration so you can sell your fashionable styles and collections easily with a new setup. The boutique business plan provides inherent investors and decision makers a print of the varieties of costumes you offer, recognizes the potential sales for your products list your mission statement, your eligibilities to run your retail business and details how your expertise will be an advantage in your competitive industry.