But keep reading to find out WHY you shouldn’t start an online boutique with no money.
If you’re reading this, you’ve probably been wanting to start an online boutique for what feels like forever. But you also haven’t set any money aside to turn your dream into a reality.
You’ve probably seen other posts around the web claiming to show you how you can actually create a real business with no capital.
And it’s true. You can launch a business with no money. But you can’t sustain a business without it.
At Start Your Boutique, my mission is to make sure you have the very best shot at success.
And if you’re trying to start your dream business with no money, it will remain a dream.
Let me share some of my story with you.
When I took my first crack at e-commerce, I was just laid off from my job and had thin savings. This was during the recession when barely anyone was hiring and I needed to find a way to make money fast. I started the business with a credit card that was recently given a brand new limit of $3,500 and the will to ‘make it work’.
When I wasn’t working on the business, I spent the rest of my time immersed in every blog post, free webinar and Facebook group I could find to learn how to make sales online.
The business made money here and there —I can still remember my first $1K day 😄 but about a year and a half later, I had to shut it down.
The business wasn’t making consistent sales to pay my personal bills, business operating expenses and I just didn’t have the marketing dollars that I needed to keep the business afloat.
I had no other choice. I ran out of money.
I had no money to give free samples to bloggers and editors. No money to run ads. No money to invest in learning what I needed to know or to hire the people I needed to keep it all going and see the level of success that I desperately wanted.
I remember being so devastated when I realized that I couldn’t will the business into being successful. Without a consistent marketing budget, I eventually burned out.
That’s why I don’t want you to make the same mistake.
Success is not about starting something. Anyone can do that. But to keep your business not just surviving but thriving, you need to be able to consistently invest.
Every single business takes starter capital and most online retailers that are really successful all have a marketing budget!
That’s the biggest lesson I’ve learned in my almost 8-year journey as an entrepreneur. And it’s one of the most important things that I can pass on to you.
I honestly from the bottom of my heart DO NOT want you to learn this the hard way. Why? Because eCommerce is amazing and when you do it correctly YOU CAN SUCCEED.
However, when you start with no money and you end up struggling to make sales you can easily begin to question your ability and think that running an online business is not for you. But it’s not you, it’s simply the fact that you started ill-prepared.
The good news from that experience however is that I learned from the plethora of mistakes that I made in that first business and have since gone on to successfully launch and sell four eCommerce businesses. 😊
So how much does it really cost to start an online boutique?
You dream is not as far away as you might think. I break down the costs in this post but in all you’d need about $3,500 to start on the right path. That would cover major things like business entity formation, web hosting, essential supplies, initial inventory, packaging and marketing.
And I recommend having a minimum monthly marketing budget of anywhere from $300-$500.
(Need some ideas on how to save money to start your online boutique? Read this blog post about it!)
You’ll need to be VERY clear on who your target customer is so you can get the most ROI (return on investment) out of every marketing dollar that you spend.
So go ahead and start a savings account for your business starter capital. Consume all my blog posts about starting an online boutique so you are prepared for the journey ahead.
And when you’re ready to start your online boutique, enroll in my course Online Boutique Success to learn EVERYTHING you need to know to launch correctly the first time!