According to payscale.com the average retail sales associate hourly pay as of Aug 31st 2021 is $11.52hr , $9hr being the lowest and $16hr being the top.
The average profit margin in retail documented in a study of 13,000+ retailers is 53.33% overall with the Fashion Industry average profit margin being 50.13% & Shoes being 49.70%.
The average cost to start up a 10 product online boutique can cost as little as a couple hundred dollars. Whereas a 50-100 product boutique can be in the thousands for just the products alone and the prices can vary for the web hosting, as well as how you plan on storing your products.
Most people think it's cool, I can handle a few thousand to start up my business, but there are other costs associated with a start up boutique. We have to factor in the time it takes to build the brand for your business. Because as of this year 2021 there are 153,855 clothing boutiques in the US with 1.4% US business growth this year.
With that information you now have to factor in your marketing strategy to get people to your business. Marketing can be costly along with time consuming.
Cause remember you are starting a business that you want to eventually make enough money to take care of yourself and your family. So marketing your business amongst the 153,855 other boutiques will take time.
That marketing will consist of many concepts but building a brand for that business is the number one marketing strategy. Your brand is the core and soul of your business, without a solid brand you might as well stop the process of starting your own business.
Branding takes lots of time, lots of analyzing, refacing, redirecting and changing. Which ultimately boils down to months worth of overhead expenses that within those months you may have brought in little to no revenue to cover those costs. Which also means that you have to continue to spend money adding to your startup capital totals.
See, starting a business is a great opportunity to control your own profits, free up your time and create a legacy for your family that you can pass down to when you no longer want to work but still generate profits from in your absence. It’s just that many entrepreneurs don’t make it far enough to see the success because the money runs out before the business takes off.
Now with Fashion Dealer Society you can live out your dream of business ownership without assuming the major risks that most business owners assume. And for that reason alone you will have the ability to work on branding and marketing strategies without the stress of hundreds to thousands of monthly overhead costs. On top of that, you will receive ongoing support from like minded individuals as well as business, branding and marketing strategies you can use to boost your business free of charge.