Neighborhood bag and luggage boutique

Local shoppers, students, commuters, travelers and people buying gifts.

You buy wholesale and sell at a markup. Add-ons like repairs, monogramming, luggage tags and travel accessories raise the average sale.

• Choosing products that sell
• Customer service and sales
• Inventory and budgeting

• Lease terms, deposits and how long you are committed to the space
• Money tied up in unsold stock, so start small and track what sells
• General liability and property insurance; workers' compensation once you hire
• Check your city or county business license and sales tax registration with your state
• Avoid counterfeit or unauthorized brand-name goods, and check rules on how materials such as leather are described

Startup costs are typically around $25,000 to $90,000, depending on the space, lease deposits and how much stock you buy. Starting with a small first order and tracking what sells helps limit money tied up in unsold stock.

Monthly revenue is typically estimated at around $8,000 to $40,000, depending on location, product mix and how many hours you open. Plan on roughly 35 or more hours a week to run the shop.

Check your city or county business license and sales tax registration with your state. Also review lease terms, insurance (general liability, property, and workers' compensation once you hire), and avoid counterfeit goods and how materials like leather are described.