Content

• Steps
• Part 1 of 3: Researching the Wedding Market
• Part 2 of 3: Organizing Finance
• Part 3 of 3: Establishing a Store

If you love weddings and you have a sense of style, then opening a wedding salon can be very profitable for you. Brides-to-be and their guests spend a lot of money on special day dresses and wedding accessories. Brides also visit many shops in search of the perfect dress and the perfect shopping experience. The service in your store must be top notch, and in order to perform well, you must be ready to satisfy any customer request.

Steps

Part 1 of 3: Researching the Wedding Market

1. 1 Go to wedding fairs. Wedding fairs are events that bring together suppliers and sellers of a variety of wedding products from dresses and veils to groom's and bride's team suits, as well as the general public. This is a great place to understand the bridal industry, including popular styles and trends, as well as timeless accessories and fashions.
   • Look for wedding markets in your city or area. Take notes as you visit the stalls. Ask questions about the most popular cuts and current trends in bridal wear.
   • One of the most challenging tasks in a wedding shop is keeping up with current trends in the industry. It's worth doing a little research to make sure you know what brides want - this can be a huge benefit.
2. 2 Talk to family, friends, peers about their experiences. If you have relatives, friends, and peers who have recently gotten married or are planning a wedding, ask about their experience in shopping for bridal gowns and accessories.
   • Find out if there is a piece or style they would like to buy but could not find.
   • For example, a young woman became an entrepreneur after planning her own wedding.She wanted to wear matching outerwear and underwear while preparing for wedding day, but most of the available suits did not fit her style. Then she developed a line of fashionable unusual outfits for brides who want to look stylish while preparing for the "big day".
3. 3 Take a look at bridal salons that you like or consider your competitors. Browse the websites of designer wedding salons in your area that appeal to you. Consider how the design and style of your existing store matches your ideas. You may also find stores that can become your competitors. Consider how you design and conduct your store to differentiate yourself from the competition.
   • Understand the marketing strategy of other salons. Do they focus on a specific demographic or a specific style? Do they have a "real" location and online store? How do they present information to their clients? Using social media can draw attention to your store and increase sales. Many stores are in high demand for online shopping and are expanding their marketing through social media and online platforms.
4. 4 Decide if you will open a store or an online store. Some stores exist exclusively online - they pay for the technical support of the site and communicate with customers online. Others - only in their usual form, with a limited presence on the network. Consider whether you would like to do only an online store or manage the present.
   • Most successful wedding entrepreneurs not only run a real store, but are also active online. This combination allows stores to offer tailor-made fittings and direct customer service, while providing the ability to keep in touch and communicate with customers online.
5. 5 Understand what the day of the owner of a wedding salon looks like. Most bridal shop owners devote their time to analyzing the needs of their customers, keeping track of goods and directly managing the store. A typical day for a bridal shop owner might look like this:
   • Meetings with brides and their families to help them find the very same dress and satisfy all requests. Depending on how many employees you have, you will work with clients yourself or simply check if your subordinates provide the necessary assistance.
   • You will also interact with fashion houses and suppliers to make sure the dresses arrive on time and on budget.
   • You will need to hire a seamstress in the state or outsource the sewing process to third parties. In any case, you will need to review all significant cut changes to ensure that everything will be ready on time.
   • At the end of the day, you will record all payments and check your finances to make sure your profit margins are in order.

Part 2 of 3: Organizing Finance

1. 1 Seek professional advice. Search online for free general business tips and small business development programs. You can also discuss starting a small business with a financial advisor at your bank and the necessary financial arrangements for this.
   • You can also look for a mentor, someone who owns a bridal shop in your area, or someone you think is a good role model. Ask such a person if you can train with him for a few days or ask for advice on how to start your own wedding business.
   • Some shopkeepers first work in a bridal shop for several years under the guidance of a mentor before starting their own business. This is how they master the necessary financial requirements and current trends in bridal fashion before opening their own salon.
2. 2 Make a business plan. Your business plan should become a “road map” or master plan of action.A well-written business plan will show investors that your idea is feasible and has the potential to be successful. Your business plan should include:
   • General description of the business: name, for example "Elena's Wedding Boutique", the city in which the store will be located, the proposed location and type of customers.
   • Inventory Descriptions, Analysis and Strategy: The intended products should be described here, such as "wedding dresses, headwear, jewelry, shoes, and tuxedo rentals." You should also specify which customers will contact you and why the intended store location will be the most advantageous. For example: Most of the clients of Elena's Wedding Boutique are residents of the central part of Yekaterinburg with good taste. You also need to do an overview of local and regional competitors and describe what your business has to offer as opposed to these stores.
   • Promotion plan: You may want to write a separate, more detailed marketing plan, but your business plan should still describe the main points of your go-to-market strategy. You can create a monthly list of promotions or promotions, such as "Autumn Wedding" or "Spring Discounts on Suit Rentals."
   • Future plans: In this section, outline how you will build a successful business from scratch. This could include a consistent advertising strategy and maintaining a certain pricing policy for two years, then increasing the sales ratio and improving the assortment based on profitability and good sales figures.
   • Summary: A business plan should be professionally drafted and include details about your qualifications, previous work experience and education.
   • Initial capital investment: You must break down all of your costs into categories - purchasing goods, stationery, store maintenance (including first month's rent) - and then calculate the total initial capital. You will need this amount to apply for funding, through a loan, grant or investment.
   • Projected balance of sales and expenses: It is not easy to calculate this amount - it shows your potential profit and expenses for the first year of doing business. You need to estimate net sales, all expenses, and net income.
3. 3 Understand if you need a loan. Once you've drawn up your business plan, decide if you need a loan to cover your initial investment. Consult with a financial advisor at the bank to understand how much you can count on.
   • You can also use other means of financing, such as savings or home mortgage. You can also apply for grants through dedicated organizations or non-profit communities.
4. 4 Hire an accountant. An accountant will help you organize your finances, prepare a loan application, and keep records.
   • You can also take courses and learn how to keep records on your own using the 1C: Accounting program, but in the long run it is better to hire a good accountant.
5. 5 Make a marketing plan. Think about your ideal client and what he looks like. Your store might target people with a certain body type, such as custom sizes or large breasts, or a demographic, such as young fashion brides. Always keep the ideal customer in mind when planning and designing your wedding store. So you will make your store unique, and your efforts will be directed to a special audience of buyers.
   • Think about how you will advertise your store. Print magazines have some success with wedding product suppliers, in particular advertisements in wedding magazines. Check out the columns on weddings, fashion and beauty in local publications and think about what your ad might look like in these sections.
   • Use keywords in descriptions on your website to make your store easy to find through search queries.Link to your suppliers' websites so that brides-to-be can view the full collection of items they can order from you.
   • Promotions, especially those held monthly or once a season (such as before graduation or on New Year's Eve), are a great way to boost sales and get customers back to your store.
   • Your marketing plan should be customer-centric, as well as the products and styles that will be featured in your store. Most shoppers want not only the goods they need, but also the quality service that makes shopping a fun time to indulge in. High quality service is something that buyers willingly "pay" for, and it works just as well (if not better) than a widespread ad campaign.

Part 3 of 3: Establishing a Store

1. 1 Find a suitable location. Don't worry about finding a spot on a high street or in a trendy neighborhood with designer boutiques. If you prove yourself well, the brides will come by themselves to buy the perfect dress and receive first-class service. The cost of renting in a place farther from the center or fashionable areas is likely to be much less. When making a decision, opt for a location next to other reputable businesses, where there is a flow of people and the possibility of parking a car.
   • Contrary to popular belief, lack of competition is not always a good thing. If there are several shops in the neighborhood, the bride-to-be will be more willing to come to the area in order to go around them all in search of "her" dress.
   • Eliminate two-story buildings as the rent will be higher and you will need to hire more staff. Look for a place with the option of renting for five years and ending the contract after the three-year period. This will allow you to establish business and build a reputation in the industry. After two years in business, you should understand how your business is, and whether your occupation will generate enough income for the next three years or if you will have to terminate the contract in a year.
2. 2 Take care of the interior decoration. Once you find a suitable place, think about how you will arrange it. You should have basic items such as clothes hangers, display stands, and spacious fitting rooms with large mirrors. It is also worth adding comfortable seating areas and additional lighting.
   • Create an attractive cozy atmosphere in your salon, use aromas, calm music, fresh flowers. Set up a place where you can connect with your clients and their families and boldly offer them what interests them.
   • You will need a computer with sales programs or a POS system so you can work faster and easier. Make sure that your customers have the opportunity to pay with credit cards.
3. 3 Order everything you need. To buy everything you need, you will need to select suppliers. Avoid firms that already do business with your competitors. Most designers will not want to ship their products to you if they are already successfully working with other stores in your area.
   • Start with four collections, about 40-50 items in total. Order a good sample from each supplier.
   • List items according to prices. Don't put too high or too low prices. If most of the wedding shops in your area offer dresses in the price range of 25,000 to 50,000 rubles, do not lower your price range; a few dresses slightly more expensive than the upper threshold of prices will be sufficient.
   • Good supplier relationships are the foundation of a successful business. If you are loyal to them, and their products are sold in your salon, you can count on loyalty in return.Over time, some designers may supply your store with exclusive items, but for that to happen, you will need to sell a lot of their outfits each year and maintain a high sales rate for their products.
4. 4 Hire staff. If you have a small store, then you only need one or two employees. Think about how often you want to go to work and solve daily tasks, whether you can afford to hire more than one employee. If you have a larger salon, or more clients, then you will need more employees to cope with the requests of the clients.
   • When reviewing applications, pay particular attention to relevant customer experience and people in general. During the interview, ask about previous work experience and ask to demonstrate your ability to interact with clients.
5. 5 Advertise your store through social media and ad campaigns. A few weeks before the opening, post the news about the store opening on your social media profiles (Twitter, Tumblr, Facebook, Instagram, Vkontakte, Odnoklassniki) and post the latest news in the blog on your website. You can also announce the discovery through advertisements in local print media.
   • You can make a promotion for the first 100 customers on the opening day, or offer a discount on certain products during the first week of operation. Encourage customers to visit your store immediately after opening with heavy advertising or attractive pricing.
6. 6 Prepare to open. According to general wedding industry guidelines, the best time to open is September, as many brides start preparing a year in advance. It's also a good idea to set the opening date for January, as many brides who are getting married this year will just start looking for their wedding outfit.
   • The work schedule should be simple and unchanged, for example Monday - Friday from 10.00 to 17.00, Saturday - from 9.00 to 17.00. Try to match your business hours with the opening hours of shops in the area.
   • Over time, you can change your work schedule based on how often people visit you on a particular day or time of day.