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"Bridal Shop Business": How to Get Started

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The wedding industry is a unique, multi-billion dollar industry. With most women (and to some extent, men) dreaming about wedding day since their childhood, people tend to spend, and even over-spend for their wedding day. This phenomenon creates a lot of business opportunities within the industry, and one of them is to open your bridal shop.

A bridal shop often acts as a one-stop service for soon-to-be brides and grooms, and not only selling wedding and tuxedoes, but also acting as a hub, or even a provider of other wedding-related services such as make-up, photography, wedding car rental, caterer, and many others.

If you enjoyed weddings and has the passion for the industry, this business just might be the right one for you, and won't require a hefty startup investment as well as a relatively low experience requirement

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Interested to start one? Here are a few tips to help get you started.

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1. Startup Investment
To start, you'll need to rent a space and the rent cost can vary depending on your location. Do enough marketing research to determine a good location with less competition. You will also need to invest in wedding dress stocks, as well as other initial stocks you're planning to sell. You can safely start with around $10,000-$30,000.

2. Marketing
Join local wedding expos, as well as networking with other wedding vendors such as photographers, make-up artists, caterers, and many others. You can get businesses from them, and on the other hand, you can also subcontract their services. Build a website which is presentable with enough showcase of your services and portfolios.

3. License and Permit
Most locations won't require a special license or permit before you can engage in the business. However, it may vary with your location. Consider consulting your local authorities to get a better picture regarding required license or permit.

4. Location
Your location will be essential in the success of the business. Find a high-traffic area for maximum visibility. It's even more preferable if you can find a place near other wedding-related businesses or a specialized area for such. You can even work with them to create a wedding package for a bride-to-be. You will also need to renovate the place to be able to display mannequins for wedding dresses, as well as a good lighting design.

5. Pricing
Although as mentioned, people tend to spend on their wedding, they will still be sensitive to price. Make sure to do enough research for your competitions so that you can get a better picture of their pricing strategy. You can either charge a lower price or offer better or different value for your customers. Making packages will also be a great idea.

Earning Potential

The U.S. national average spending for a wedding dress is around $1,200 per piece. Meaning, if you can sell 5 per months, you can get a $72,000 annual earning.

The wedding industry a massive industry with a lot of profitability potential. However, competition can be tight and you'll need to be creative and resillient in building your network and relationships with both customers and peers in the wedding industry.