Dress and occasion wear boutique

Women shopping for work, weddings, graduations, formals, galas and social events, plus guests and mothers of the bride.

You buy stock wholesale and sell at a markup. Extra income can come from alterations referrals, accessories and a few well-chosen add-ons.

• Spotting styles that sell locally
• Customer service and styling advice
• Stock buying and budgeting

• Unsold stock and seasonal swings, such as prom and wedding peaks and slow winter months
• Commercial lease terms, deposits and what happens if you need to leave early
• Commercial general liability and contents insurance
• GST/HST registration once you pass the small supplier threshold, plus provincial sales tax rules in your province
• Municipal business licence and signage rules, so check with your municipality

Startup costs are typically estimated at around $25,000 to $90,000, depending on the premises, your opening stock, the shop fit-out and how much you spend on marketing. Unsold stock is a key risk to plan for.

Monthly revenue is typically estimated at around $6,000 to $30,000, depending on your location, stock and season. Prom and wedding peaks can bring busy periods, while winter months may be slower.

Check your commercial lease terms, deposits and early-exit conditions. Also check for a municipal business licence and signage rules, GST/HST registration once you pass the small supplier threshold, provincial sales tax rules, and commercial general liability and contents insurance.