Boost Your Boutique with Emily Benson

2:03.7: What you're about to listen to is a group coaching call. We include group coaching calls with all of our programs. So, we have three levels of programs. This particular call is for our Boutique Basics Bootcamp course. 

7:07.0: If you think you can sell everything to everyone and have something for everyone. I've been preaching this for years.  And you're going to see it come true in the next six months, like harder than ever, because you can't just sell something for everyone because everyone is no one. 

13:20.5: I am Arianne Braverman. If you don't know who I am, um, I am one of the coaches here at Boutique Training Academy. Emily and I go way back. Uh, but I also have my own boutique. It's an online jewelry and accessories boutique called Arianne's Jewel Box. 

15:00.6: The reason why I love fourth quarter so much is because I love the energy. I love the spirit, the hustle bustle. Like it just drives me. 

16:15.1: If you ordered anything special for black friday Make sure you know when it's arriving Uh, and anything that you have ordered specifically for holiday, make sure you know when that's arriving. It's really important to check those deliveries because you have a very short window. 

20:03.4: I usually try to make it a little bit less than what it would be if you bought three separate bracelets, just so it feels like a deal. Um, there are so many great ideas that you could do. 

21:44.7: Customers want things to be really simple right now. And the easier you can make it for yourself and for them, I actually think your sales will be higher. 

22:28.5: If you do have a lot of inventory, just use what you have. And like, you're like everything Arianne saying, like making bundles, making packages, making it like gifts giving, like you can do that with the inventory you have. 

24:44.2: I think people are a little bit sick of being sold products too. I think they want the experience they want.

27:28.3: We have a lot of people selling cheap stuff online and then we have a lot of people like Nordstrom has gotten like pretty expensive, anthropology has like 300 dresses, 400 dresses. So I think also there's this really special place for boutiques.

29:53.4: It seems like most of the fall things were 20 to 40 percent off. Like there was some good sales to be had. And I was like, well, it's the right time of year to have the sales, you know, it's very busy.

31:21.0: this is where we stay focused and this is where we say, okay, I have six weeks to like go hard in my business. I'm not going to let this stuff distract me. I'm not going to let someone in a Facebook group say,  The economy is so bad. I'm not making sales. Like that's their story.

32:30.5: So I already talked about like buttoning up your Black Friday stuff, but you should also be planning out what you're posting. 

35:20.4: And one of the big things that keeps coming up in every space I seem to listen to is the more you do, the more you'll make.

36:13.2: How do I attract new customers? You know, the best way to do it is post more and be more clear about your posting.

38:14.9: It's all going to make you money in the end and it's not your job to figure out who's going to buy, what they're going to buy, when they're going to buy, where you're going to ship. 

38:50.2: Your effort will eventually. Turn into orders, turn into money. It might not be immediately. It might not be tomorrow. It...

2:16.5: There's no one path to success.

3:13.3: There's been some quick fixes or people who've started businesses really quickly and maybe seen some success. But this is where the short and longterm thinking in my mind happens because you have to be on the pulse and you also have to be thinking longterm.

4:37.4: Size inclusivity has been something that we have been fighting for from vendors, from brands for so long. This is something that, you know, we want more cute clothes and inclusive sizing period. 

6:22.4: We're just kind of, again, reinforcing the fact that women fluctuate sizes no matter what.

7:05.4: And while we don't want to take our eye off the ball with making sure brands and. Vendors have inclusive sizing, also watching our customer base, watching our size selling, seeing if we're like something's changing because this might not affect you at all.

7:29.1: I think we have to recognize that as boutique owners, we have to start being really flexible. We have to start understanding that our demographic is changing kind of all the time. 

9:33.2: Maybe you start to expand where you're shipping or where you're advertising to, to encompass more people. Because for sure, one of the things we always need to be doing is attracting new people. 

10:46.8: I'm going to know what's the best thing for me and the best thing for me is really looking at your inventory. I think we think there's these quick fixes, um, but to grow and scale a boutique business, it really benefits from time and consistent effort.

11:12.5: If you're sending an email, sending a text, doing an app notification, all of these things, these are touch points with your customers. The more they see it, the more top of mind that you are, and the more they get closer to buying.  2 percent of people buy on their first contact with you.

12:27.2: So I want you to consider what are some areas of your business that you're really just thinking about in the short term too much. I need to fix this quickly. I need to post more. I need to make more sales.

13:37.7: Look really long and hard at what you have. What have you bought? How are you assorting it? How are you styling it? What are your, um, tips and tricks to being able to style it differently for someone who maybe can't?

16:07.4: And I think it's interesting because we forget that it takes time to build a business. 

17:06.0: The hardest part is staying excited because when you first start and you're buying stuff and you're like getting quick wins or you're feeling good about stuff, it's really addictive and it's really hard because you can get really addicted to the money coming in, right?

19:02.8: And you might find that you get into boutique land and you don't like it. And that's okay too.

21:05.0: You can grow your business fast, but you have to also think longterm. You have to set yourself up for the long run.

22:11.9: If you're thinking negatively, guess what? Your longterm is going to be tough. 

25:23.3: I don't wanna commute, I don't wanna have a boss. I don't want to hope that someone puts my paycheck in. I wanna know I have control over my financial future. And I think that's the longterm thinking that a lot of us need to start to shift to.

26:04.1: Whatever your decision is, make sure you're baking in what that life looks like for...

5:32.0: You know, there's a lot of people that just step into entrepreneurship and it's like not their thing and no judgment.

6:47.0: Because let's be honest. Most people that own a boutique and you know, I know I have my dudes out there and I also have mostly women I'm chatting with, right? And we know we are tired like we were tired.

7:48.6: I think we have to all really, really be honest about when we start a boutique. Like, what's enough? What's enough for you? What's not enough? What's worth it? What's not? 

9:24.2: It's money and numbers that we in a capitalistic, like, society have been raised to look to for success. And I don't really believe that that's true anymore.

10:59.9: I really feel so strongly that you should be afforded a business that can make you money and give you a really nice life. Whatever that looks like to you.

12:28.4: I think we focus on all the wrong things when we start businesses sometimes because we think we just have to do all the things and it's not true.

13:29.3: Billionaires don't really care when they work. Or when they don't work.

15:21.9: I worry that people are just getting themselves back into the LuLaRoe mindset of like, the more I work, the more money I make. And it's absolutely not true.

16:31.0: So in my mind, I think you've got to think about what does demand look like in your business?

19:39.0: So I think thinking about your business from a big picture of what do I want my life to look like? How much do I really want to work? How much money do I really want to make? And what information do I already have at my fingertips to be able to implement a strategy that's going to be profitable for me.

Resources:

Order your 2024 BOUTIQUE CALENDAR today! 🎉

Visit Boutique Training Academy - If you want to make more money in your boutique or retail business you're in the right place. We'll guide you step by step in your journey through Boutiqueland. 🛍️

NEW BOOK #TheRetailMindset available on Amazon

Let’s be friends! 😊

Facebook 

Instagram

Have questions? I'd love to hear from you! Email me at [email protected].

Mentioned in this episode:

Overbought Webinar

OVERBOUGHT: A FREE Webinar for {Boutique Owners} Who Know They Have Too Much Inventory Sales have slowed. You don't have the right styles. It's almost Fall and your boutique's revenue growth feels like it needs a jolt. What if I told you if you start now, you can end this year with low stock, high bank balances and maybe even a tropical vacation in January. If you're making $10k or more per month consistently, I'm talking to you! The solution to your inefficiency with inventory is NOT adding dropshipping or print on demand. Let's just analyze your sales, adjust your buys and make you more money the old

8:35.0: I've been studying money and money mindset for a long time. I will preface all of this conversation. With a short legal disclaimer saying, I am not an accountant.

9:33.1: I want to speak to this idea of debt because especially in the United States this is something that Basically, our society has decided is bad and I'm here to kind of flip the script on that for you boutique owners. 

11:00.8: So often as women, we give away our power around money.

11:48.3: Taking out a 300, 000 loan that's called a mortgage isn't considered debt. Like, FYI, that is debt, okay? It's the same as the credit card debt you use to invest in inventory for your business. 

13:04.6: We also then look at someone who's spent money on a credit card to invest in their business and think that that's bad. Guess what? That business could actually grow. 

13:51.8: Can we start switching our mindset around calling money we have used to invest in our business, actually an investment and not freaking debt. 

16:08.3: You've got to realize that like when I talk about the fact that I made six figures every year in my business, I also ran with that. Those investment loans, right? I ran with those loans over time. That doesn't mean that I didn't turn a profit. I did, but I was paying back those loans over time.

18:34.1: I see women paying off huge chunks of their credit card with the money they make from their business. And guess what happens, they pay off a chunk, and then they have to go buy more inventory. So what do they do? They use their credit card again. And it's this ridiculous cycle.

20:15.0: You've got to stretch out those payments because it's going to start to wean you off the credit card. Okay, you want to be running a cash business as much as possible, right? You want to wean yourself off the cart.

21:10.9: The deal is, is that if you can start to work off cash, then what's going to happen is you're going to end up being able to pay yourself. 

22:01.0: As you pay a small amount is it's actually gonna build your credit score you guys And when you have a better credit score you're able to access more capital for when you do want to grow your business.

23:09.9: You need to make sure that you're maximizing what works in your business and minimizing what doesn't from an inventory perspective.

23:57.9: Realize that debt actually equals trust. The idea that you are so trustworthy. That a bank or a parent or whoever has given you this money has given you this money, right?

28:15.5: We have the opportunity to heal our own money story at any given moment of any day. So guess what? You have control over your fate and you have control over your reality.

30:36.1: Choose what your money story is. So shifting your money from debt is bad, debt is shameful, to debt is people trusting me.

33:33.5: We all have to thrive on our businesses. And so I encourage you to check in with your own self worth. How are you feeling about yourself? You know, do your prices reflect how you feel about yourself?

35:04.7: Let's take a quantum shift in your mindset around your money story and around the idea that borrowing money, AKA having debt is a bank trusting the hell out of your smart brain and your hard work. That's what it is.

Resources:

Order your 2024 BOUTIQUE CALENDAR today!...

1:28.3: It's going to cost you some money, obviously, to have a point-of-sale system, meaning you need somewhere to sell it and accept credit cards.

2:13.8: If you're going to start a boutique, uh, whether it's home decor, gifts, children's, women's, men's, you've got to think about what are the things that people buy most often? What are the categories that they're buying? 

3:55.7: Now people always say like, Oh, I should have something for everyone. No, you should have. Lots of things for one person or maybe two people that are kind of similar. That's the way to go. 

4:40.8: You can't just sell graphic tees. I'm sorry. You can't just sell Stanley Cup dupes. I'm sorry. You can't just sell a bunch of junk and think you're going to make money. It doesn't work like that anymore. And if you think that, then you're on the wrong channel.

5:31.8: You've got to start somewhere. And the more focused you can be, and I hope that's what I'm getting across to you now, but the more focused you can be, the more successful you're going to be. 

5:53.1: ​​Having cash on hand is your greatest superpower when you're starting any business but especially an inventory-based business like a boutique. 

7:07.3:  As long as you're figuring out how you can work it into your cost, I think free shipping is a great way to go. That said, you don't have to.

7:44.0: People always ask me, can I use stock photos, Emily? Yes. The answer is yes, you can. Do I suggest it? No. Don't do it. 

8:23.2: Now, it could take a tripod, it could take a friend, it could take a spouse, it could take a child, but please model your own stuff. Be in your clothing, be in your outfits. If you can't do that, at least do a flat layer, and put it on a mannequin, but have the photos be yours.

9:47.6: You want to have a real active website with a real-life human behind it. That is the way to be successful. That is the way to stand out and stock photos don't get you there. 

10:57.0: Put yourself in the game so that people know that you are a boutique business and show up for yourself if you're going to have a boutique business.

Resources:

Visit Boutique Training Academy - If you want to make more money in your boutique or retail business you're in the right place. We'll guide you step by step in your journey through Boutiqueland.

NEW BOOK #TheRetailMindset available on Amazon

Let’s be friends!

Facebook 

IG

Mentioned in this episode:

Overbought Webinar

OVERBOUGHT: A FREE Webinar for {Boutique Owners} Who Know They Have Too Much Inventory Sales have slowed. You don't have the right styles. It's almost Fall and your boutique's revenue growth feels like it needs a jolt. What if I told you if you start now, you can end this year with low stock, high bank balances and maybe even a tropical vacation in January. If you're making $10k or more per month consistently, I'm talking to you! The solution to your inefficiency with inventory is

Click here to see more about Boutique Basics Bootcamp. Enroll in Boutique Basics Bootcamp now for the lowest price and over $3200 of bonus material!

This episode has not been edited for ums or gaps! Enjoy!

Emily on IG: @stylishandsuccessful or @boutiquetrainingacademy

Mentioned in this episode:

Overbought Webinar

OVERBOUGHT: A FREE Webinar for {Boutique Owners} Who Know They Have Too Much Inventory Sales have slowed. You don't have the right styles. It's almost Fall and your boutique's revenue growth feels like it needs a jolt. What if I told you if you start now, you can end this year with low stock, high bank balances and maybe even a tropical vacation in January. If you're making $10k or more per month consistently, I'm talking to you! The solution to your inefficiency with inventory is NOT adding dropshipping or print on demand. Let's just analyze your sales, adjust your buys and make you more money the old fashioned way. It's literally worked for hundreds of years and when it's done well, can be incredibly profitable. Product based businesses need to shift now and inventory is what truly moves the needle. Get this 90 minute FREE TRAINING NOW!

Overbought Training

00:07.1: Let's talk about what jobs or where we see most people come from in boutique land to start their boutique.

1:01.8: First and foremost, it's stay at home moms, it's mothers, it's women, people with uteruses that have had children that want to start a business. 

1:49.2: You're going to need support with your business and with your child or children. The more kids you have, I think the harder it's going to be. 

2:03.1: If you have kids and you're really good at managing your time and you feel like you have these pockets of time to work, then yeah, having a boutique is going to be awesome for you.

2:31.6: Now, the one downside about being a stay at home parent and starting this business is summer. 

3:29.5: If you have the time and you have good skills to manage lots of things, like as most stay at home parents do, then having a boutique is a great business for you.

3:45.1: Believe it or not, nursing and teaching, listen, you're in a power position in those places. You're in a position of power and you're dealing with people, whether it's children or adults. That is what you're going to have to do when you have a boutique business.

5:04.4: The other two places we most often see boutique owners come from are the world of sales or finance. 

5:39.6: You're going to have to take pictures of yourself. In these items, using these items, videos, all of that stuff is going to be so important to your success. And so just know that you're going to have to kind of get over using yourself, using your voice, your image to sell.

6:13.3: If you are good at selling, if you can put yourself out there, if you can talk to anyone, and if you have style that people comment on all the time and say, I want to dress like you, or where did you get that? You could be really good at having a boutique.

Resources:

Visit Boutique Training Academy - If you want to make more money in your boutique or retail business you're in the right place. We'll guide you step by step in your journey through Boutiqueland.

NEW BOOK #TheRetailMindset available on Amazon

Let’s be friends!

Facebook 

IG

Mentioned in this episode:

Black Friday Masterclass Access

Head here: www.blackfridaymasterclass.com You'll Learn A 5-Step Holiday SpecificStrategy that Will Increase Your Sales Between November and January (post holiday) By Up To 40%. Includes video trainings (90 min+ sessions) and a23-page workbook * Video 1:Pick a Planwe will chat about the 'Superbowl' weekend of retail and then outline a plan that is specific to YOUR boutique business * Video 2:Create a PlanHaving a profitable holiday season means that you need to plan your day-to-day Holiday weekend plan and outline your product/pricing assortment to support those goals. * Video 3:Maximize Your ProfitThe holidays are over, now what? The objective of day 3 is to give you ideas to create some marketing that prevents post-holiday sales plummet. Over 4 HOURS of recorded training!

46.6: I worked for seven years in corporate retail merchandising in New York City, uh, for big brands that, you know, then I started my own boutique.

2:08.0: If you are not committed to either finding cheaper wholesale items or marking things up appropriately, and I'm talking like three times markup, you will not be successful.

2:46.4: And the amount of money we make is dependent on the difference between the wholesale cost and the retail price of that item. So the bigger that gap, the more money you're going to make.

3:28.4: Because if you want to join Boutique Land and you don't have a clear vision of who you are and who your customer is, you also will fail. 

4:49.9: You are allowed to have a strong point of view and that's what actually makes you stand out from the crowd.

6:10.5: Sell your own stuff. Sell your own style. If you can go to LA and you can go to some markets and you can shop other places other than just Fashion Go fair and online spots, you're going to have a better go at it because you'll be able to connect.

7:01.5: You've got to pivot to something more unique and you can inherently charge more for things that are more unique. 

9:55.1: You can take your own photos, whether that's a mirror selfie or you set up a tripod just like I have right in front of me, a tripod of a video camera, and that's shooting me and I'm going to publish this out to the world.

Resources:

Visit Boutique Training Academy - If you want to make more money in your boutique or retail business you're in the right place. We'll guide you step by step in your journey through Boutiqueland.

NEW BOOK #TheRetailMindset available on Amazon

Let’s be friends!

Facebook 

IG

Mentioned in this episode:

Black Friday Masterclass Access

Head here: www.blackfridaymasterclass.com You'll Learn A 5-Step Holiday SpecificStrategy that Will Increase Your Sales Between November and January (post holiday) By Up To 40%. Includes video trainings (90 min+ sessions) and a23-page workbook * Video 1:Pick a Planwe will chat about the 'Superbowl' weekend of retail and then outline a plan that is specific to YOUR boutique business * Video 2:Create a PlanHaving a profitable holiday season means that you need to plan your day-to-day Holiday weekend plan and outline your product/pricing assortment to support those goals. * Video 3:Maximize Your ProfitThe holidays are over, now what? The objective of day 3 is to give you ideas to create some marketing that prevents post-holiday sales plummet. Over 4 HOURS of recorded training!

Black Friday Masterclass

Overbought Webinar

OVERBOUGHT: A FREE Webinar for {Boutique Owners} Who Know They Have Too Much Inventory Sales have slowed. You don't have the right styles. It's almost Fall and your boutique's revenue growth feels like it needs a jolt. What if I told you if you start now, you can end this year with low stock, high bank balances and maybe even a tropical vacation in January. If...

1:42.4: Having a mobile boutique was really fun for me. I loved all four years that I did it, and I want more people to start the business. And I want you to start a mobile boutique if it's something you're excited about. 

2:18.8: The obvious first thing is you need a truck, a trailer, a whatever, an RV, a bus, before you even get into buying that vehicle, you really want to think about what you want to do with your boutique business.

3:39.6: I actually would keep back stock while I was at events in the front seat, and that like really helped me carry more things, and it just kept me more organized.

4:17.2: Now the downside to that is that every repair, every mechanical issue became a business issue because I couldn't just swap out a different truck or a different vehicle to tow it. 

4:56.3: If you go the route of a trailer, again, you see... You still have to think about how big it is. You still have to think about the interior height. And this is a spot where you would want to think about adding some sort of back room or back stock area as you start to build it out.

5:50.4: You're going to have to search for the right thing in the right place at the right price for you.

7:34.8: But remember, the outside is your marketing. That is your front door. That is your brick and mortar lease. 

9:57.3: You're going to need commercial liability insurance. That will cover when people are in your truck walking around. it will cover any injuries that happen.

10:26.1: From my experience, auto insurance is, it's going to vary depending on where you live, where you're going to park that truck. If you're in a city, it's going to cost more. 

11:59.5: So one of the biggest costs, honestly, is going to be vehicle repairs and event fees. Instead of paying rent, you're now paying event fees.

13:54.1: Most of your ongoing costs are going to be gas, supplies for the store, vehicle repairs.

15:00.5: You might have to have the trailer replaced, maybe some spare tires. It is less of an ongoing cost to have a trailer. 

18:57.2: My whole thing was like, you host the party, I'll pull up, and I'll do a great job entertaining your friends.

Resources:

Visit Boutique Training Academy - If you want to make more money in your boutique or retail business you're in the right place. We'll guide you step by step in your journey through Boutiqueland.

NEW BOOK #TheRetailMindset available on Amazon

Let’s be friends!

Facebook 

IG

Mentioned in this episode:

Black Friday Masterclass Access

Head here: www.blackfridaymasterclass.com You'll Learn A 5-Step Holiday SpecificStrategy that Will Increase Your Sales Between November and January (post holiday) By Up To 40%. Includes video trainings (90 min+ sessions) and a23-page workbook * Video 1:Pick a Planwe will chat about the 'Superbowl' weekend of retail and then outline a plan that is specific to YOUR boutique...

1:19.7: We need more boutiques to open because we need more perspectives. We need your point of view. 

1:50.4: So first and foremost, no, you cannot buy samples. I know it sucks. You just can't. Okay. The way that the wholesale piece of the industry works. 

2:57.3: This is why I always say you should go to market or try to go to LA or New York or wherever these people are so you can see samples and you can see what's going on.

3:43.2: So now when you're on a wholesale website or you're looking at a wholesaler's line sheet, what you're actually going to see is the wholesale cost per unit.

4:18.5: You are going to get great prices on styles that you didn't even realize you could get such low prices on.

5:48.3: You're going to have to ask that vendor, what are their packs? What are their minimums? How are their packs broken down by size?

6:41.3: Now, when you go to buy from a vendor, they're going to tell you what their minimum order is. That minimum order is for an order. That's not for a style. That's not for a color. 

7:11.1: Generally, the minimum order is around 100. It's really easy to spend, that's like a style or two or three, you should get there pretty easily.

8:20.5: Now, if you're going in and you're buying women's or men's, you want to make sure that you're buying the right size kind of template. So there's a difference between juniors, missy, contemporary, and men's. 

Resources:

Visit Boutique Training Academy - If you want to make more money in your boutique or retail business you're in the right place. We'll guide you step by step in your journey through Boutiqueland.

NEW BOOK #TheRetailMindset available on Amazon

Let’s be friends!

Facebook 

IG

Mentioned in this episode:

Overbought Webinar

OVERBOUGHT: A FREE Webinar for {Boutique Owners} Who Know They Have Too Much Inventory Sales have slowed. You don't have the right styles. It's almost Fall and your boutique's revenue growth feels like it needs a jolt. What if I told you if you start now, you can end this year with low stock, high bank balances and maybe even a tropical vacation in January. If you're making $10k or more per month consistently, I'm talking to you! The solution to your inefficiency with inventory is NOT adding dropshipping or print on demand. Let's just analyze your sales, adjust your buys and make you more money the old fashioned way. It's literally worked for hundreds of years and when it's done well, can be incredibly profitable. Product based businesses need to shift now and inventory is what truly moves the needle. Get this 90 minute FREE TRAINING NOW!

Overbought Training

Black Friday Masterclass Access

Head here: www.blackfridaymasterclass.com You'll Learn A 5-Step Holiday SpecificStrategy that Will Increase Your Sales Between November and January (post holiday) By Up To 40%. Includes video trainings (90 min+ sessions) and a23-page workbook * Video 1:...