Questions to Ask Yourself Before Starting an Online Store or Boutique
Are you considering starting a clothing store and selling your products online? Here are questions to ask yourself before starting an online store or boutique.
Did you know that there are currently 2.5 million online stores in the United States? Although that number shouldn’t discourage you from opening your online store (or setting up your boutique), it does indicate that you need to be strategic about how you enter the market.
Making the initial move in the right direction can be quite thrilling, but before you start your dream project, make sure to ask yourself some crucial questions. It’s not as simple as finding wholesale handbags and reselling them on Shopify.
Figuring out what resources you have on hand, who your customers are going to be, and how much money it’s all going to cost are the first steps to setting a solid foundation for launching your very own e-commerce venture.
Here are a few questions to walk through as you figure out how to open a store and what to sell.
What Is Your Budget?
So you’re thinking about opening an online store or boutique. Great! However, the one factor that all aspiring business owners must take into account is budget. Make sure you have the funds and connections to get the inventory you need at wholesale prices, rent the commercial space for your boutique, or have the necessary resources for hosting an online store website.
One of the best ways to do this is by creating a detailed business plan with projected expenses. This will help ensure that your anticipated cost of goods is in line with your income and that you will maintain your financial stability.
Who Are Your Customers?
While it may be tempting to open an online store without knowing who your clients are, choosing a target audience can make or break the success of your boutique.
It’s best to first identify what kind of customers you want to frequent your store and then develop an image that appeals to them. This is where knowing and focusing on a particular, niche audience is helpful.
By focusing on who you think your customer base should be, you’re able to:
- Create online content or marketing that resonates with them
- Generate more conversions, from simple visitors to paying customers
- Be better informed about how customers find you
Additionally, once you determine who could be interested in your products, marketing campaigns become a whole lot easier. All signs point towards establishing a strong target audience before opening up shop. When you get to this step of the setup process, consider these two questions:
- Will you specifically target price-conscious customers?
- Will you aim for people who are willing to pay more for designer goods?
Consumers frequently choose to spend more money on something they think will last longer. They also believe in paying higher prices for brand-name items. Figuring out who you’ll target affects what kinds of merchandise you’ll offer, which brings us to our next question.
What Kinds of Merchandise Will You Offer?
Now that you have a general budget in mind and you know who you’ll be targeting, it’s time to consider which products they’d be most interested in. Perhaps you’ve identified that you want to target affluent mothers in certain zip codes in your area. Great! Now, it’s time to consider which products you’ll market to them. Here are three great options we offer at DNC Wholesale.
Wholesale Clothing
For many shop owners, clothing is a logical option for wholesale merchandise, as apparel is something people constantly need and thus are often looking to purchase, making it one of the most attractive types wholesale merchandise.
Other advantages are that clothes weigh less than most products, meaning shipping costs are reduced; garments also take up less space in a store or stock room compared to other items, so in comparison to other types of merchandise, stocking up on wholesale clothing is inexpensive and efficient. Sure, there may be some challenges when selling wholesale clothing (such as sizes and a large variety of styles and brands), but that’s all part of being a savvy storefront owner!
Wholesale Shoes
Many store owners are discovering that selling designer shoes is a fantastic way to attract customers. Not only are they a great option for those looking to get quality shoes, but their medium price range also makes them attractive and appealing to a wide spectrum of potential customers who may not have the money for more expensive items.
From classic styles to cutting-edge fashion trends, the wholesale shoes offers we have available contain something for everyone. Additionally, it’s never been simpler to stock your store with fashionable footwear from popular brands, that will keep clients coming back (just check out our bulk designer women’s shoes and you’ll see).
Wholesale Handbags
When it comes to owning a store, perhaps the biggest challenge is finding merchandise that caters precisely to the desires of your clients. Wholesale handbags, however, make it simple to get past this obstacle; after all, fit isn’t an issue when it comes to picking the right arm candy.
Selling designer handbags also ensures a greater volume of sales, as customers love having plenty of options. Because they often come with a higher price tag than other types of merchandise, you can also expect to earn more per sale than you might if you only offered shoes or clothing items. Just be sure to find a reliable and established wholesale handbag supplier (like DNC Wholesale).
Will You Sell Designer or Non-Branded Merchandise?
We briefly mentioned this above, but now that you’ve had time to consider and think about the type of merchandise you’ll sell to your target audience, it’s time to focus on one big product decision: will you sell designer or non-branded items?
Designer branded items are great options for many types of merchandise, such as clothing, handbags and others, because the customer already knows the brand and therefore the quality of the item. Contrastingly, non-branded products could need more persuasion because customers aren’t always aware of the products’ quality. Despite being less expensive for you than buying wholesale designer clothing, you could end up having to spend more on marketing these goods.
Regardless of what you choose, keep your target audience in mind. What are they most likely to be interested in with the least amount of convincing on your end? Choose the wholesale merchandise you acquire accordingly.
Will You Focus on Just Wholesale Handbags?
Wholesale handbags are just an example here. The real question is: Will you sell just one type of item or a variety of products?
When it comes to running a store or boutique, you could sell one type of product, but if you were looking to make more money, why not sell multiple types of products? Instead of just focusing on handbags or shoes, for example, try selling all types of items like clothing, accessories, and more.
People may come in looking for a dress but also be tempted by a cute pair of shoes or even a stylish designer handbag. And when you sell multiple products, the chances are much higher for customers to buy more than one item when they’re at your store. All of this translates to more money in your pocket.
How Will You Sell Your Merchandise?
By now, you likely have a good idea of your budget, target audience, and the products you plan on selling. You’re almost ready to start your business! However, it’s time to consider how you’ll sell your merchandise. In today’s retail world, you have two main options: opening an online store or setting up a brick-and-mortar store.
Selling wholesale clothing and accessories online can be extremely lucrative. Online businesses not only eliminate the need to pay rent for a real retail location, but they also make your merchandise more accessible. Customers just need to click around on your online store website to find your products.
Sure, there’s some competition online, but digital marketing makes it far easier to target different audiences to make sure your products get noticed, which will ultimately result in more sales for you.
Do You Understand Tax Laws & Shipping Rules?
Before the exciting task of sourcing wholesale products, designing a website, and marketing your online wholesale store, it’s important to understand legal obligations including tax laws and shipping regulations. Without taking this step, you can find yourself in legal trouble or possibly forced to pay more for unforeseen costs down the line.
Consider whether you need things like a seller’s permit or a certain type of tax registration to sell your products online in your state. It’s essential to consult a local tax expert or small business expert in your area if you’re unsure. They’ll be able to ensure you’re properly registered and paying all of your dues. They’ll also be able to advise you about the necessary steps to legally maintain your business.
Do You Have a Digital Marketing Strategy?
Now that your store is practically up and running, it’s time to think about your digital marketing approach. To ensure your business website resonates with clients, make sure the website design is mobile-optimized and includes product pages with in-depth descriptions and high-quality photographs.
Next, think about how you’ll promote your business using social media platforms or maybe even try setting up a blog or podcast to expand the reach of your business. Once you’ve laid the foundations, get creative. Explore different tactics such as Facebook Ad campaigns or influencer campaigns for selling clothing online.
Browse DNC Wholesale's Website for Wholesale Merchandise
Whether you decided to sell wholesale handbags or designer clothes, we’re here to help. At DNC Wholesale, we provide a range of wholesale merchandise that can assist you in finding the ideal products, for you to resell at the right price. Ready to get started?
Browse all of our available offerings.
