There are close to 159,000 clothing boutiques in America. That means there are also 159.000 boutique owners who, at some point, wonder how to choose the best wholesale boutique items. Some have figured it out, and others are still trying.
It can be stressful trying to figure out which clothing or jewelry your customers will love enough to make a purchase. Fortunately, you can take some specific steps to make the decision easier, detailed below. As you will see, the first few steps have nothing to do with the products.
Set a Budget
Before you make any purchases, you must consider your budget. Creating a budget will help you avoid overspending. Budgets are about numbers, and your costs are the first to know. How much does it cost you to operate your boutique? The answer should include rent, utilities, salaries, and insurance. These are considered fixed costs, the expenses that do not change from month to month.
Budgeting should also include variable costs or expenses that may be different each month. Examples include commissions, travel, and shipping costs.
It can be a good idea to add a certain amount of money to the budget to cover unexpected costs. Things like computer crashes, frozen pipes, and broken display cases happen. Being financially prepared for them keeps your business operating smoothly despite a minor emergency.
Some use a simple formula when budgeting. Take your total income and subtract expenses to get your total net income.
Identify Your Target Market
A target market consists of the people you want to visit your boutique and purchase clothing, jewelry, and other products. When you choose the best wholesale boutique items, you are choosing them for your target market.
Defining your customer can help not only in purchasing products but in marketing too. Your customers have specific traits that differentiate them from non-customers. Pay attention to your customers to learn more about their age, spending habits, favorite brands, lifestyle, hobbies, education, career, and other preferences.
Social media advertising allows you to select specific keywords to narrow the number of people who see your ads by matching your keywords with their online interests. You will get a broad range of viewers if your keywords are clothing and jewelry. You can narrow this down by being more specific. Try “women’s formal wear and rhinestone jewelry.”
With the information, create a definition for your target market so that you can tell them in one or two sentences when someone asks. Here are some examples of good target customer definitions:
- Single female CEO living in the city who enjoys the nightlife
- Married stay-at-home soccer mom living in the suburbs who loves travel
- College students on a budget but who want to look like they buy only designer brands
Find a Wholesale Supplier for Wholesale Boutique Items
Now that you know how much money you can spend and understand your target customer, you can take the next step and choose the best wholesale boutique items. To do this, you must select the best wholesale supplier.
A wholesale company is a middleman between you and the manufacturer. They work directly with the manufacturer to get the lowest costs. They buy products in bulk, and the more they buy, the greater the discount. Wholesalers then do the same thing with you, the retailer. They sell in bulk options, and the cost decreases as your order increases.
Finding a wholesale supplier should start with online and in-person research. Rather than search for “wholesale supplier,” which will give you every wholesaler from around the globe, narrow it down. Be just as specific as your target market definitions. Check out these search examples:
- Businesswomen’s professional work clothing and jewelry wholesale
- Casual women’s clothing and jewelry wholesale
- Trendy discount designer clothing and jewelry wholesale
If you find a wholesale supplier online, look at their reviews, reach out to current and former clients for feedback, and visit the facility if possible. Also, look at their entire product line to ensure it meets your target market needs. Answer questions like these:
- Is their website easy to navigate?
- Is it easy to contact customer service?
- Do they have a variety of clothing, jewelry, and other items?
- What are their shipping policies?
- Do they offer small-batch ordering?
- Do they provide samples so you can check the quality of the item?
Conduct a mini-interview with the wholesaler. How they respond to your questions and how you feel while talking to them will help you decide if they are the right one for you. You may even want to contact them by phone to get questions like these answered.
Wholesale Boutique Buying Tips
Now, the fun part of buying clothing and jewelry to sell in your boutique. It can be hard when you are having fun and see many hot new items that would look great on you. You get tempted to click on “add to cart.” Don’t do it. The most important thing to remember is to buy for your customer, not yourself.
Keep a buyer’s list nearby when you are shopping online for clothes and jewelry to sell. Create your list using standards you want to meet, like the following:
- You feel proud and excited to sell the clothes and jewelry in your boutique
- The items meet your quality standards
- You have enough storage space in your boutique to meet the minimum order requirements
- The products are easy to display and market to customers
- You will be able to markup the products for a significant profit margin
- The items are available in all sizes, colors, and styles to meet your customer’s needs
- The items appropriately represent your brand’s mission and goals
Choosing the best wholesale boutique items should be fun. It should inspire display ideas, social media posts, and other ways to promote the items. Let your excitement for the new products flow down to the customers. Give them a customer experience in your boutique that leaves them feeling and looking their best.