Bride's Guide: How to Start a Bridal Store

You’ve dreamed about merging your love for bridal fashion with your business dreams, but you’re not sure where to start. Many successful business owners begin in the same place. Here are the steps to open your boutique and help brides discover swoon-worthy styles.

Business plans force entrepreneurs to dive into the concrete details of starting a company. You’ll need to review the market, pick promotional strategies and plan to cover the startup costs. Investors and banks will require an extensive business plan before granting funds.

Devote some time to finalizing your future business’s name while creating your initial plan. You’ll also need to pick the best location to open a store, like popular wedding or bachelorette party destinations. Market research will assist in this step by providing information on where shops already exist and what draws people to them.

Bridal shops don’t need specific licenses to sell wedding gowns and accessories. Still, you will need local, state and federal permits for things like hiring employees, determining your occupancy rate and registering to pay sales tax.

Certifications can also help your business thrive. Submit a LEED certification application once your shop meets the predetermined standards, like using certified architects or appliances. You’ll reduce your monthly energy bill and impress consumers who want to support eco-friendly brands.

After receiving funding from investors or lenders, you should settle other financial arrangements. Businesses require separate bank funds from what you use in your personal life. You’ll also need accounts with your suppliers and a budget that includes marketing, supplies and paying employees.

Suppliers won’t come to new businesses — you have to approach them. Reach out to brands you’d like to stock in your store or sell exclusively online. As you make new connections, you can post about open job positions and meet new people who could be an excellent fit for your shop.

Every company needs a great accountant. Talk with tax professionals who specialize in small businesses. They’ll know how to maximize your tax deductions and recognize financial hiccups that could shut you down before you get a chance to grow.

Opening a bridal store could take some time. Start your journey today by talking with experts and looking into the practical details of making your dream come true. You’ll get help along the way that will make anything possible with a bit of determination and planning.