How To Setup A Bridal Shop & Accessories Business

Bridal shop and accessories business is undeniably one of the most sought after enterprise. Every man wants to marry a pretty woman and every bride wants a beautiful wedding and a dress that will make her look outstanding on her memorable day and one thing that can make the wedding memorable is getting the right bridals. Bridal boutique is therefore a profitable venture because of the latest obsession in today’s society with glamour and trend.

Some individuals now want their marriages in lavish styles & that creates a worthy return for occasion management, companies and also for the bridal and groom parlors. Bridal shop business is a very profitable one backed up by the fact that very few people venture into it.

It is not a common business as others in the clothing industry but it is one which holds a million dollar promise. The reason being that the market demand is vast, weddings continually take place every week and the competition is not so much as compared to other sectors.

Nigerians by nature are ceremonial people, given our socio cultural disposition, weddings are widely celebrated event. Every bride wants a glamour wedding with that perfect gown that turns the head of every one who attends the event. Moreover the wedding industry is considered one of the significant contributors to our economy. It is credited for creating entire industries that didn’t exist or were previously unprofitable such as makeup artist and luxury toilet hire companies.

Fashion designers have also largely benefited from Nigeria’s wedding. In previous years, wealthy brides will travel abroad to buy their wedding gowns but they are now turning to homegrown designers to shop for weddings. So the market has flourished into making a perfect influence for investors, fashion tycoons and boutique owners. Before you delve into this venture, you need to know what it entails. A bridal shop sells dresses and accessories to brides to be and bridal party members’ e.g. brides’ maid of honor, the bride’s mother, etc. they also provide alteration services so that everyone can get the perfect fit.

To establish and successfully run a bridal shop business, you will need the following materials as startup kits such as a show room, mannequins, pieces of furniture, an office complex, file cabinets and desks, cash register, book keeping materials, measurement kits and so on

Also Read: How To Start A Lucrative Fertilizer Businss In Nigeria

HOW TO SETUP A BRIDAL SHOP AND ACCESSORIES BUSINESS

  1. Create A Business Plan

Your business plan should act as a masterpiece for your store. A good business plan will show investors that your business is viable and that it has the potential to succeed. Your marketing strategy for the bridal shop will include a general business description with the name of your business, the city where your business will be located, a proposed location for your business and your costumer type. It should also include inventory details, your promotion plan, future, resume, startup expense as well as project statement of sales and expenses.

  1. . Get Capital

You need sufficient capital to start your business. Your capital should be included in your business plans; or rather your business plan gives you a sense of how much equity you are going to need for both worse scenarios and best case scenarios. It would be best if you strategize how to include loans to your capital from friends, family, investors and other industries. Bear in mind that the bridal shop business is a serious investment.

  1. Name Your Business Bridal Shop

This may sound straightforward, but as you participate in the practice you will discover that sometimes having a perfect business name can be a hassle. Think about names that portray the business purpose as two known words can be coined together or perhaps work with a meaningless abstract name but the best name would be a reflection of your person and brand idea.

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  1. Register The Business

You must go through the rudimentary process of registering the business with the country and state. Register your bridal shop according to laid down guidelines. You need to decide if you want to specialize in defining a specific brand name or wedding dress style such as designer or high end luxury gowns or you want to bring a range of different gowns if you wish to store bridal accessories.

  1. Get A Suitable Location

Your bridal shop must have an excellent position to aim for success. Don’t expect to hit the peak by putting your company in a secluded area, away from potential clients. The benefits that come with a good business location cannot be overemphasized. Get a shop along the road, where there is a lot of traffic for your business to flourish

  1. Set up Your Shop

There are lots of suppliers and fabricators from whom you can order supplies. With just with your system you can ship most inventories from other countries to yours that is why your business plan is critical because it is also going to be crucial in deciding how you’d get in contact with these manufacturers, designers and suppliers. You will have to set up credit accounts or wholesale accounts with each one so that you can purchase the dresses at wholesale prices and then sell at retail prices.

  1. Get Your Supplies:

Your choices of wedding gowns are crucial to being relevant in this industry. It would help if you were in touch with experienced designers and manufacturers as many as you can buy to deliver bridal gowns that include different sizes, designs and prices to suit both the wealthy and moderate earners. Renting these bridal gowns, hats, floral arrangements and so many to be sold aside. As your business grows, you can start taking note of your customer’s choices, competitors and market trends.

Accessories For Bridal Shop

  • Shoes/bags
  • Hand fan
  • Gloves
  • Jewelry sets
  • Makeup kits
  • Bridesmaid dresses
  • Head crown
  • Perfume
  • Fascination tiaras

Also Read: how to start a successful egusi melon farming business

 

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