Do you have a keen eye for fashion and love weddings? Then you probably thought about opening a bridal store because it would be your ideal venture. Your passion for bridal fashion could turn into a lucrative business.
Bridal shop primarily sell dresses and accessories for brides-to-be, but some also offer attires and accessories for other wedding attendants. Regardless if you want to also sell gowns for other occasions or not, make sure also to offer alteration services because brides want to have their dresses fitted to their bodies.
However, expect to invest resources into starting this business because the process can be overwhelming if this is the first time to open a store. This article breaks down the process of how to start a bridal shop business and provides you with actionable recommendations.
Research the market
You’re entering a highly dynamic sector because trends change every season, so it’s vital to research to ensure you understand how it evolves together with the market’s needs.
The research aims to help you understand your target audience, identify the latest trends, and find who your competitors are. You can transform your business into a more niche venture and address a particular segment when it matures. But until then, you should focus on starting a general bridal store targeting the average bride-to-be.
Perform a complete competitor analysis to give you an idea of what the other stores in your areas are doing and if you can stand apart from them.
Before starting the business, visit trade shows and wedding fairs to determine what is trending in the sector. It’s advisable to talk to gown providers and other people who own bridal boutiques to find their perspective and learn more about the experiences they offer to their clients.
It’s also crucial to find out if there’s a desire for your services in the sector. Try to determine if people are interested in this kind of store, how much your ideal customer earns, what alternative options your public has, and the maximum amount they’re willing to pay for a product you offer.
Once you have a grasp of the sector and target audience, you should focus your attention on your competitors. Evaluate their strengths and weaknesses and find a window of opportunity to enter the sector and offer something they do not.
Plan your business
The secret to a successful business is a well-put-together business plan. It should help you figure out the specifics of the store and the challenges you might face.
Start by picking a name for your business. You might think it’s simple, but it’s, in fact, more challenging than you’d think because, often, the names people want aren’t available. You can brainstorm names and see what works best if you have a partner. Suppose you lack ideas; you can use a business name generator; there are many websites online that offer these services.
Next, you need to figure out how much it costs to open a bridal shop. Calculate the rent you must pay for the space, staff salaries, inventory, insurance, and marketing. You might think you can skip some expenses like insurance, but it’s better to pay attention to purchasing comprehensive insurance because if one of your employees gets injured while working and you lack insurance, paying compensation could bankrupt your business. Make sure you can start the business and keep it afloat for a couple of months because it’ll take a while to generate profit.
The typical elements of a business plan are:
– General business description
– Business strategy
– Market analysis
– Inventory description
– Marketing Plan
– Expenses
Set up the bridal boutique
Suppose your paperwork is complete now; it’s time to set up your bridal boutique. The first details you must establish are the location, aesthetic, décor, suppliers, and team. In this sector, the wedding gown collection and overall vibe of the store help you set your brand apart from the competition. Take your time to tailor the collection to your customers’ liking and determine what store theme would capture their attention.
Bridal boutiques are businesses people prefer to visit in person because the brides-to-be want to try the dresses, feel the fabric, and have the seamstress alter their gowns to fit them perfectly. For your store to be frequented by many clients, set it up in an area with high traffic. This way, potential clients can easily find it. You could even pick a location close to other wedding stores because the target customers usually visit multiple stores before picking a gown. Another great place to start a bridal boutique is close to a beauty salon, wedding venue, cake shop, or print store because they also address your target audience.
After renting the store, it’s time to focus your attention on designing the interior. Pick a theme for the store and ensure it reflects your gown collection’s characteristics. The most popular themes for bridal stores are classic, modern, natural, and romantic. You want your clients to feel comfortable and relaxed when they visit your store because the more dresses they try, the higher the chances of purchasing one from you.
And last but not least, it’s time to order the inventory. It’s easier to filter the options after picking the theme of the boutique. Reach out to manufacturers and ask them to make you an offer to purchase products in bulk. Have a look at online marketplaces, as they offer a more diversified range of products. As long as you have an alterations department, you can purchase gowns in bulk and modify them to your client’s needs and requirements.
It’s also recommended to sell bridal accessories because most brides prefer to purchase their entire attire from the same place. You can collaborate with domestic and overseas suppliers to offer your clients a wide selection they can choose from. Avoid the designers your competitors collaborate with so you can provide your audience with something unique.
