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"Online Boutique Business": How to Get Started

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The fashion industry is one of the always booming industries, with the rapid change of trends ensuring a steady demand over time. Starting a fashion business used to be difficult with the capital limitations to start a brick and mortar boutique and the tight competition. Yet, with the rise of e-commerce and social media, comes a new opportunity for entrepreneurs with a passion for fashion: the online boutique.

By selling your apparels online, comes both advantages and disadvantages. The obvious advantage is, of course, the fewer startup capital needed to start the business. However, building the reputation of a solely online fashion boutique can be hard, especially with the tight competition in the industry.

Although competition can be fierce, the industry remains lucrative with practically unlimited earning and scalability potential, and certainly will be a great start for entrepreneurs who want a slice of the multi-billion dollar fashion, and retail business.

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Below are some considerations to help you start your online boutique:

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1. Startup Cost
Your initial startup investment will vary depending on many factors. But first, you must decide whether you want to resell other people's product or manufacture the products yourself.

Re-selling products will need less startup cost, and re-selling reputable brands can help build your marketability. However, profit margin will be less, and competition will be even tighter. To start this business model, you can start with below $2,000, assuming you're drop shipping from suppliers.

If you plan to manufacture your own apparels, the best option to keep capital small will be to outsource the sewing and manufacturing process to a vendor, with you focusing on the designs. You can start with below $5,000 for initial production and other costs.

2. Marketing
As mentioned, online boutique business is a tough competition. Thus, marketing maneuvers will dictate the success or failure of the business. Nice photos are a must, so is a proper social media management. Consider endorsements of public figures (actors, models, etc), as it will certainly help building your popularity.

3. Research your Selling Plattform
Many e-commerce platforms are available, like Instagram, Poshmark, and many others. Each has their own demographics as well as their own advantages and disadvantages. You can, of course, utilize brute force and sell on each and every one of them, however, sometimes focusing on one platform that suits your brand will yield better results in the long run.

4. Licenses and Permits
As an online business, most certainly you won't need a special license or permit. However, it might vary with your location. Consult local authorities before you get started. Remember, you will also be obliged to pay self-employment tax.

Earning Potential

Your earning potential will vary with your success, and can literally be zero or millions of dollars. However, an averagely performing online boutique can earn $2000 a month, or around $24,000 a year. The top performing online boutique can earn more than $5,000 a month.

Remember to maintain the cost of your apparels to maintain a healthy profit. The cost of goods sold should remain below 35% of the selling price, excepting for exclusive items above $100 a piece where you can maintain 50% cost.