How much start up capital would I need, what would be the best type of marketing, ect.
2006-06-09 06:42:43 · 4 answers · asked by After College 1 in Business & Finance ➔ Small Business
A wedding dress shop and wedding planning services are perfectly complementary businesses -- but it would be a lot of work. Both will put a huge demand on your time, so make sure that you have other people to help you.
I suggest you first prepare a business plan to help you think through of this business. I have not seen a business plan that combines both, but you can look at business plans for these two separate businesses:
Wedding Consultant Business Plan (free) http://www.bplan.com/spv/3274/index.cfm
Bridal Salon Business Plan (free) http://www.referenceforbusiness.com/business-plans/Business-Plans-Volume-06/Bridal-Salon-Business-Plan.html
Expect your start up costs to be anywhere from $75K-$150K depending on where you are located. Getting your space ready and your startup inventory will be the bulk of your startup expenses. Key components of your startup expenses will include
- Rent/Lease
- Leasehold improvements
- Utilities (electricity, water)
- Furniture including clothes racks and displays and fitting room furniture)
- Legal (from legal structure to permits and licenses)
- Insurance
- Equipment including credit card terminals to alarms systems
- Startup inventory
- Supplies
- Cash on hand
As for the marketing, I suggest you prepare a promotional calendar for the whole year, tying up the two businesses together. These may include:
- Very interesting window and store front displays
- Local newspaper ads
- If you have a big event (such as opening), get radio ad spots
- Local wedding publications -- get your press release announcing the opening of your store in there or get a writer talk about your new shop
- Advertise online such as TheKnot.com, which has a state-by-state listings of vendors in the bridal industry
- Be listed in local search engine directories
- Yellow page advertising
So You Want to Own the Store : Secrets to Running a Successful Retail Operation by Mort Brown, Thomas Tilling http://www.amazon.com/exec/obidos/ASIN/0809232367/ref=nosim/powerhomebizguid
Start and Run a Profitable Retail Business (Self-Counsel Business Series) by Jim Dion, Ted Topping (Contributor) http://www.amazon.com/exec/obidos/ASIN/1551801000/ref=nosim/powerhomebizguid
Start Your Own Clothing Store (Entrepreneur Magazine's Start Up) (Paperback) by Entrepreneur Press http://www.amazon.com/exec/obidos/ASIN/1891984314/ref=nosim/powerhomebizguid
You also need to start scouting for a location. If you are going to find a location at the mall, here are some tips to consider http://www.powerhomebiz.com/vol41/mall.htm
Write a business plan to help you plan out your business. Here are some resources that can help you write your business plan:
- SBA Business Plan Basics http://www.sba.gov/starting_business/planning/basic.html
- PowerHomeBiz.com Creating a Business Plan section http://www.powerhomebiz.com/startup/businessplan.htm
- Entrepreneur.com Writing a Business Plan section http://www.entrepreneur.com/bizplan/0,7253,,00.html
- Bplans.com http://www.bplans.com/sp/businessplans.cfm
- MOOT Corp Business Plan competition winners
http://www.businessplans.org/businessplans.html
If you need help in terms of guidance, you can find free advice and mentors from the following organizations:
Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
Industry and trade associations
Local business groups, such as the chamber of commerce
Local chapters of business groups
You may also want to read the article "Earn Money as a Professional Wedding Coordinator" http://www.powerhomebiz.com/vol26/wedding.htm
2006-06-09 07:30:55 · answer #1 · answered by imisidro 7 · 2⤊ 0⤋
The best routes to take are to research the process of starting a business as well as the industry you're interested in.
I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.
Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
Wedding Planning Specific:
* How To Start A Wedding Planning Business by Cho Phillips, Sherrie Wilkolaski
* Start Your Own Wedding Consultant Business: Your Step-By-Step Guide to Success by Eileen Figure Sandlin
* FabJob Guide to Become a Wedding Planner by Catherine Goulet
* How to Start a Home-Based Event Planning Business by Jill Moran
* Start Your Own Event Planning Business: Your Step by Step Guide to Success by Krista Turner
Retail Specific:
* Start and Run a Profitable Retail Business by Jim Dion, Ted Topping
* Retail Business Kit for Dummies by Rick Segel
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder
* So You Want To Own The Store: Secrets to Running a Successful Retail Operation by Mort Brown
I also posted links to some free articles in the source box.
Hope that helps! I wish you much success & happiness in all your ventures!
2006-06-09 06:46:58 · answer #2 · answered by TM Express™ 7 · 0⤊ 0⤋
I obtained married final October and I nonetheless have the identical ideas you are having now! I could believe the opposite poster who mentioned hold it for a yr after which see. It's what I'm planning to do but when I do promote it then I'd hold the veil, simply in order that I have some thing! But now the opposite poster has given me the choice of a christening robe... bah! choices choices. What I will say despite the fact that, is do not promote it till you are certain you wish to. It could be traumatic to the customer if making a decision to promote it after which difference your brain on the final moment.
2016-09-08 22:43:31 · answer #3 · answered by lounsberry 4 · 0⤊ 0⤋
Local paper, ppc banner ads with your local tv station.
2006-06-10 02:22:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋