Is your Online Boutique profitable?

The niche you pick for your boutique is as profitable as you can make it!

I'm not going to lie to you.. when I started selling on eBay, I was taught to list products that were in trend, that were amazon bestsellers and/or ranked high on Google Search. Not only find a supplier who was selling them successfully & do a reverse search to see where he/she was sourcing from, but also lower my prices by a dollar so I can beat their price.

It was a good strategy to start with because I was tired of wasting money & failing. . . but it wasn't until I had to pay eBay fees from my pocket & was scrapping a few cents off of each sale I made, I realized it was NOT a long term strategy for running a successful boutique. I had less than $2 margin per product & if my supplier decided to increase the product value & my system did not catch it on time, I would end up paying the difference from my own pocket & selling the items on a loss.

That's NOT what I got into the biz for!

My WHY wasn't all about making money but it certainly was a part of it. I refused to play small & cut down someone else's biz just to boost mine.

That's when my #curiosity got the best of me and I decided to look around for a better solution!

and. . . .

Here's what I realized - A niche or boutique is as successful as the value you are providing through it.

If you've been listening to me for a while, I can imagine your eyes rolling to the back of your head & then popping back in your socket because you've heard me say this a million & 1 times.

So. . . how do you add value?

You do it by selling whatever the f*ck you want to sell. Period

If you want to sell fitness equipment & that makes you happy + it's something you can not stop talking about - that's the NICHE you've got to get started in.

If someone tells you otherwise, don't listen to them!

Google searches, analytics, trends are all "tools" to help you with the process butttt if you not excited about the niche or have zero idea about the products you selling, how do you think you'll be able to talk about them on social media or when a potential customer emails you asking a Q?!

Let's do a little exercise to help you narrow down your niche - Divide a piece of paper into two halves.

On one side make a list of everything that sets you apart or makes you YOU. What are those unique qualities that people would be surprised to hear about you?

PS - It doesn’t have to be limited to biz. It can be anything as simple as being a dog mom or a reader or your own woo woo expert that only a few people know about!

On the second side make a list of possible niche/products that excite you, that you are passionate about or have knowledge about.

Now see how you can combine the two!

Example — If you love love to travel, you are a foody and at the same fitness enthusiast... You can start a boutique that sells travel friendly fitness products. Offer resistance bands, power tube, Booty Bands, skipping rope, travel mugs & more.. . Not only that, throw in a hotel friendly workout plan and you sure to have them back for more.

Example 2 — If you are a dog mom, who loves home decor, you can narrow down your niche to pet friendly home decor because you know what it’s like to have pets around the house or you can sell pet furniture & products because you know what their requirements are. I've seen some cute customized pet vest that you can add as a limited edition too!

Tell us in the comments -- What niche do you want to open your boutique in? Can you narrow it down any further using the pointers that set you apart?

PS - Need help with your online boutique? Save your spot for an Online Boutique Audit here.