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Last Updated Friday November 22 2019 04:22 AM IST
Other Stories in Bussiness Boom

Boutique boom and subsequent 'kaboom'

P. Kishore
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Boutique Boom

The boutique business seems to be the most sought after, the most launched and the most shut-down business in Kerala. People who do not know the basics of business start boutiques that close down in one to two years. Those who have assets would escape with losses, while those who borrowed to start the business would go belly up.

The basic reason why the business fails is that people are not careful to analyse it before diving into it. They are not aware about demand, price or other factors before they launch the business. Most of these entrepreneurs hire a room in costly localities in the city and their monthly running costs come to about Rs50,000.

Without adequate sales, such shops have no other go than closing down soon. Most people who are bored at home are the ones who start such businesses. They go to northern states, purchase stock, beautify their shops, inaugurate it with a star and then close it later because of lack of business. Most of these shops that start with four to five sales girls soon cut the number of staff, then start offering discounts and then close under the weight of dead stock.

Those who succeed are the ones who have a clear plan about business and have a grip on how much to spend and how much to earn. They start small and spend less but focus on earning a reputation that their shops serve trendy collections. They then expand when the business is good. Those who have money to spend and are not clear about their business objectives can as well spend the money and see it going down the drain, in style.

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