One main challenge is developing mission and vision statements in addition to application of good leadership and managerial skills. These factors support the fact that most of the accomplished boutique owners are people who are successful in the field of managing small businesses. This is achieved through application of personal traits such as determination, self driven motive, and enterprenual skills, basic of planning, management, and organizational skills. As a matter of fact, boutique business is a complex line of business where total management skills are required.
In-depth knowledge on the running of the boutique and fashion statistics is very useful to any owner in order to make a meaningful progress. Boutique as a career requires the owner to employ other people who are capable and able to manage the business accordingly (White & Griffiths, 16). It also requires that the employees to perform their boutique work according to their past knowledge and experience. Therefore, workers or employees who have knowledge on the tactics that lead to improved performance play a very big role in operations of a boutique as a career. Education
As a boutique owner it requires you to look for employees with knowledge as well as the skills of a boutique. Owning a boutique is not simple because one is required to have a substantial amount of start-up capital. This may force one to get a bank loan which should be paid regardless of whether the business succeeds or not. The failure or success depends on the management style of the owner. It is true to say that one can know the fate of a boutique business within the first few months or years. However, at the beginning losses are very high because of the initial investments and also extra expenditures of acquiring initial stock.
At this early stage, one is expected to maintain high expectation through management of the losses as you focus on the profits generated in each transaction. But this only lasts for a period of time because once the business has stabilized, the expenditures becomes minimal creating a good source of income for the owner. Therefore, for a person to own a boutique future expectation that is the mission and the vision will be required. Managerial knowledge and the leadership of the employees is also another factor that determines the performance of the boutique.
Owning a boutique needs a person who is open minded in matters pertaining to ideas regarding different boutique issues. The business requires a well motivated individual who can use the combination of savoir-faire business skills and in depth the knowledge of the fashion retail industry to make profit. It requires a person to have the exact knowledge that is needed to ensure that a boutique is well managed. It needs leadership skills and management skills for a nice and effective boutique to be effective, planning should also be effective.
Boutique deals with a wide range of fashion products for example sportswear, beachwear, novelty items, shoes, handbags accessories, and watches. In my case, a combination of the accessories and the novelty items, watches, shoes, handbags make my career as an owner of a boutique. Training This business requires one to have an education background which is specific on the knowledge of issues relating to fashion. One is required to have a Bachelor Degree in Business Administration Fashion Retailing or Marketing as well as management is of essence when operating a boutique.
Masters in Business Administration is an added advantage since it attracts investors in form of partners as they may have a greater trust in your management capability. Experience also applies in addition to the education background. This includes an extensive experience in fashion retail industry in a variety of positions from different levels of retail sales associated with exact experiences as a retail store manager. In boutique ownership career, risk taking personality is very important and solid business backgrounds such as marketing, accounting, sales, management and knowledge of the fashion are critical requirements.
Other important requirements in connection with retail market place including trends and forecasts, flexible multitasking capabilities, excellent time management and communication skills in depth are important (Style career). Training focuses on the management and leadership qualities required in operations of the boutique. Tactics on customer response is also important during the training; the trainees are provided with a wide range of knowledge of handling different positions in the boutique business.
Salary range My salary range is $100,000-$150,000 pa. The range is however not fixed as it can fluctuate depending on the level of profitability. Being a fashion industry, the knowledge of current trends in the market will promise one an upper limit income. Future trends Many successful businesses start small and build up to larger ones through expansion. Being a small business owner has been my dream for me. I do not regret why I chose a boutique business as my career since I have seen fruits of my labor.
I am looking forward to building a large business empire by opening up boutique outlets which are at the proximity of my customers. I will even remain sensitive to the needs of my customers in addition to allowing them to make requests for the kind of products they would like me to stock for them. This I believe will give me a mileage ahead of my competitors. Works Cited Style career, Breaking Into and Succeeding as a Boutique Owner. Viewed on 11 July 2010 from http://www. stylecareer. com/boutique. shtml White, N and Griffiths, I. The Fashion Busines