If you’re excited by the fashion world and are thinking about opening a clothing boutique with Apricot Lane, we couldn’t be happier! But you might be asking yourself, how much does it cost to start a boutique? Well, apart from the initial franchise fee and monthly royalty fees you’ll be expected to pay, there are some other important costs you should consider. Here, we’ll look at a few of them, as well as how we help you get the most from your investment.
The Cost of Real Estate
You’ve heard it before — location is everything, especially when you’re in business. After all, if you aren’t located someplace that’s easy to find and get to, you severely hamper your chances of success. That’s why, when you open an Apricot Lane franchise with us, you can count on our team of real estate experts to help you narrow down your location choices and negotiate a great lease. Because we’ve been doing this for such a long time, we know what to look for in a winning location and how to use demographic research to help you find one that’s surrounded by your best customers. Of course, quality locations aren’t inexpensive to lease, so you must factor that in when calculating how much it costs to start a boutique. You’ll also need to consider costs for plans, construction, and any buildout that may be necessary.
It goes without saying that marketing your franchise, especially when you’re first starting out, is critical to your success. Given this, as a boutique owner, you should plan on allocating a certain percentage of your sales to regularly getting the word out about your store, including using all the potential of social platforms and local media outlets. Fortunately, we make all that a whole lot easier for you with our in-house advertising agency that can meet all your marketing, social media, and public relation needs. With our cost-effective advertising materials and campaigns, you will be able to maintain a consistent brand and image, and reach your best customers.
Hiring Great Staff Members
Much as you might like to think it, you can’t do it all on your own; when you open your boutique, you’ll need to allocate funds to hire staff members whom you can count on and trust to help you manage the day-to-day aspects of running your boutique. But here again, Apricot Lane will help you in these efforts. You’ll have access to our comprehensive customer service module that contains useful videos and development guides, job descriptions and hiring processes, sample schedules, an orientation program, and more! We know that the quality of your staff is critical to your success, and we don’t leave finding them to chance.
How Much Does It Cost to Start a Boutique?
In the end, the expense of owning and operating your Apricot Lane boutique will depend to a great degree on where you’re located, how many people you’ve hired, and other variables. But we estimate the investment to open a new store as a first-time franchisee starts at $150,000, which includes the initial franchise fee of $34,500.
How much does it cost to start a boutique with Apricot Lane? For an answer to that question and more, get in touch with us today!