So the opening date I proposed before has come and gone. I’ve had to delay the opening for two reasons; 1. I’ve had to send quite a bit of things back recently. Always, always, ALWAYS check each garment, and check your invoices to make sure you weren’t charged for something you did not receive! And also check your old invoices from the showroom to make sure you’re not going crazy and the showroom really did send you a dress in the wrong color.
The second reason is because I could not find a mannequin. No mannequin, no photoshoot. No photoshoot, no pictures. No pictures, no website (or at least no customers!). But thankfully I managed to track one down and I’ll hopefully get into the studio sometime in the next week or two. I can’t give a specific launch date this time around, but I’m hoping for early May.
In the mean time I thought I’d answer this question from Letitia:
Hey Kim,
I know you posted about start-up costs, but I was wondering if you could do a post for funding. Just how does a savvy student like yourself manage to find the thousands of dollars you mentioned to get started?
-Letitia
Thanks a bunch Letitia for all your comments, I REALLY appreciate them! So how did I get the money? While I was in school I worked as a celebrity & fashion blogger, and I still do actually. I had one particularly lucrative but unfortunately short lived gig last year; I didn’t spend a dime of the money I earned from it, and that’s what I’m using now to start my business. My parents also said they would make an investment if I needed it. So far I’ve spent about $7500 on merchandise for the first three months (but also keep in mind that I probably won’t be able to buy much for Summer).
I’m really just lucky to be in such a good position financially that I can get this started at such a young age. I didn’t take out any loans for college, so I have nothing to pay back. I also don’t pay any bills, save a gym membership.
7 Responses
Priscilla
17|Apr|2008 1Hey Kim,
Thanks for the update. I was anxiously awaiting, how did you go about finding your
photographer. I would be interested in one too. And would like to find out the costs
associated with doing that. Can you spare a website, name and telephone number?
Best of luck in all that you do.
Thanks
P.
Kim
17|Apr|2008 2^Hey Priscilla, where do you live? Im in central cali and if you’re in the same area I’ll definitely give you her info. My photographer is a friend of the family and she’s charging us an hourly rate, although most charge per picture. The cost varies greatly, some of the bigger studios quoted us up to $800 for a session (yikes!!)
Thanks!
letitia
18|Apr|2008 3Hey Kim,
Thanks so much for filling us in. I guess its always luck of the draw for some people. No bills..wow! Well, I am very very eager to see your store because like I said, i want to shop it already! You picked some great designers and I know you will be successful.
xoxo
Kim
18|Apr|2008 4^Thanks a bunch for your support, Letitia! I’ll be sure to let everyone know when its open, and I’ll have something special for those of you who have been supporting me since the beginning
Priscilla
18|Apr|2008 5Hey Kim,
Thanks for the reply. How nice is it to have such a following already! I am in the West
San Fernando Valley. And I too would love to get a cost break, email me with the
info when you get a chance also if the photographer has a website, I’d love to check it out!
Have a Fab weekend
P.
Alison Kothmann
24|Oct|2008 6Hey Kim! Congrats on Surviving your 1st as a boutique owner. I recently owned a boutique but it did not last long due to my husbands job, moving, and mistakes that I see you are not making! good for you! cash flow is sooo important as is having enough upstart cash. that being said. I am revisiting the idea and thinking of starting an online 1st then using the profits to start brick and mortar later. I have 2 kids and one on the way so time is one thing I don’t have a lot of. question- do you use a profesional photograher to photograph your merchandise?? costs of this?? is this more cost effective than buying the photography equip yourself?? before I had a website but never set it up for online shopping. me and my shopgirl just took the pics ourselves. thanks for any help. you are doing a superb job! I appreciate your openess and honesty to share your experience. a lot of people in the industry are not so willing to share. best of luck!!
Kim
25|Oct|2008 7^Hi Alison, thanks for all your nice comments! Yes, I have a professional who is a friend of the family who takes the photographs. I usually end up paying $50, and that’s for a two hour session.
The equipment is pretty expensive if you want professional stuff. You’ll need a backdrop and lighting, and the lights themselves can cost a grand or two. I suppose it can pay off in the long run but there are also things that professionals know to do, which is why I didnt want to do the work myself. So I would say try to find a pro who doesn’t charge too much. Maybe even a photography student.
Good luck with your future business endeavors!
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My name is Kim, I'm a 22 year old FIDM grad and I'm embarking on my dream by launching a boutique! Follow my blog and I'll teach you all you ever wanted to know about running a high end fashion boutique.
contact: kimberwyn AT gmail DOT com
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