Mobile Boutique Business Plan: How to Turn the Streets Into Your Own Fashion Runway
The food truck boom began in 2008. Food trucks in Los Angeles started to receive national attention. Among them are Banh Mi, Dinas Dumpling, Jogasaki Sushi Burrito, Kogi’s BBQ, Leo’s Taco Truck, and The Lobos Truck. From these fresh and innovative ways to serve food, different business concepts for mobile trucks started. Auto detailing, cleaning services, flower trucks, personal trainer, and pet grooming, among others, find their way to success. In 2014, fashion trucks began popping out in the streets of America. They are popularly known as mobile boutiques.
Mobile boutiques are trucks that sell fashion items such as accessories, bags, clothing, wallets, etc. What makes them special is that they can travel from one location to another to bring fashion to their target markets. Some mobile boutiques made their transformation from a food truck to a fashion runway. Styliner used to be a potato food truck in New York. Today, it transformed into selling an eclectic mix of boho and vintage clothes. The key to success is that you have a mobile boutique business plan on how to turn the streets into your own fashion runway.
Mobile Boutique Business Plan
A comprehensive mobile boutique business plan must contain the following information.
The executive summary of your mobile boutique business plan should define a fashion niche. This fashion niche should relate to your target customers.
The company summary of your mobile boutique business plan must include the following information:
- Business Name
- Registered Owners of the Business
- Location of the Business and where the mobile truck will operate
- List of manpower needed together with the operating hours of the business
- Target Customers
- Payment Terms
The budget plan of your mobile boutique business plan summarizes the cost to start operating the business and maintain it. Buying a mobile truck occupies the biggest investment. Used trucks cost anywhere from $30,000 to $100,000. While new trucks may cost anywhere from $100,000 to $200,000. To get your mobile boutique business off the ground, you may need to spend around $28,000 to $114,000. These include the one-time cost for business registration, insurance, licenses and permits. They also include the recurring cost for labor, maintenance, operation, and rentals.
The financial goal of your mobile boutique business plan should exceed your budget plan by at least 30%. It must enumerate the objectives of your business based on relevant market research. Under financial goals, you should explain how much you will need to invest in your fashion offerings. These may include accessories, bags, belts, clothes, denim, jackets, scarfs, wallets. etc. For each fashion offering, you should specify your target sales and net profit per day, month, or year. The average annual income of a mobile boutique business ranges from $25,000 to $140,000.
The marketing strategy of your mobile boutique business plan summarizes how you plan to promote and sustain your mobile truck. A SWOT analysis of your mobile boutique niche can guide you to finding opportunities and facing threats to your business. Today, the best way to market is by creating a website for your mobile boutique business. It increases the chances of attracting customers and discovering your business. Social media marketing is another way to market your mobile boutique. You can set up digital shops on your social media accounts to generate extra income. You can also post updates about your current location, fashion items, operation time, and promotional offerings on Facebook, Instagram, and Twitter.
How to Turn the Streets Into Your Own Fashion Runway
Do you want to turn your mobile boutique business into a fashion runway on the streets? Here are 5 tips on how to do it.
Be a walking model of the fashion you sell
There’s no better way to market your mobile boutique business than to be a walking model of the fashion you sell. The niche of your mobile boutique business should reflect your fashion sense. Wearing your products or using them in person can attract others to buy them. You can mix and match accessories and clothes. Or create a unique way of using your products. If you enjoy using the fashion you sell, it will be easier to convince your customers to buy them.
Create a loyalty program
A loyalty program aims to reward regular and returning customers of your mobile boutique business. It is more costly to attract new customers than to retain your existing followers. By giving them some discounts and privileges through a loyalty program, you are hitting 2 birds in 1 stone. First, they’ll keep coming back to patronize your business. Second, they will become marketing advocates of your brands. Happy customers create new customers through word of mouth.
Get active on online apps
Another way to turn the street into your own fashion runway is to get active on online apps. First, create an account and consistently post to promote your business on social media accounts. Facebook, Instagram, Pinterest, and Twitter have a large number of followers whom you can target through segmentation. Retail-focused apps like Boutique Window, Etsy, Shopify, and Shoptiques can help you generate extra income by reaching shoppers online. The trick is to consistently maintain and update your inventories and profiles on these online apps.
Participate in local and national events
Local and national events are a great opportunity to turn the street into your own fashion runway. By bringing your mobile boutique business to these events, you can easily connect to the community and target your audiences face-to-face. Running promotional sales during these events can very well boost your sales.
Try new marketing trends
An impressive mobile boutique isn’t enough if you don’t open your business to new opportunities and trends. The best way to turn the street into your own fashion runway is to try out new methods in advertising your brand. While moving from one location to another, you can try Click-to-Pay, Facebook Ads, and other new marketing techniques. Partnering with an influencer can boost the discovery and revenue of your brand. People nowadays tend to imitate popular personalities that they admire.
Now that you have the business plan, what’s next? Of course, it’s finding the perfect mobile truck for your business!