Hi friends, it's you and me and welcome to a new season, season eight of the boutique chat podcast.

Hey, I am here today with a five minute Friday that these are questions I get all the time and it's the

five biggest misconceptions of being a boutique owner. And I'm here to tell you this is an industry

that it's easy to get into. Anyone can open a Shopify store and start selling things immediately.

And that's great.

It's a blessing, right?

Because you can have instant side hustle and income and build a business that works for

you.

There's so many blessings.

But I think the downside to that is it also makes it look easy.

And I think in these five misconceptions you're going to find that it's far from easy. You are going to get out of this business what you put into it. And so here's why. Misconception number one is that everything I buy, people are going to buy it from me and they're going to pay full price and it's going to be great. I'm going to buy it. I'm going to sell it and I'm an account on making money from it. When in reality, especially if you're in apparel, but this is true no matter what you sell, beauty, pet, home and gift, books, lingerie, all the things. Consider this rule of thumb. Whatever you buy, you're going to have a minimum order, right? so clothing for example a prepack of 2-22 we look at this as the rule of thirds whatever you buy, you're going to have a minimum order, right? So clothing, for example, a prepack of

2-2. We look at this as the rule of thirds. Whatever you order in your minimum order quantity, consider that you're going to sell a third at full price. A third of it, you're going to have to hustle to move. You might have to re-merchantize it or repost it or get a little creative with how you're showing it and a third you're going to discount and move out probably on sale on an extreme

discount you may or reposted or get a little creative with how you're showing it. And a third, you're going to discount and move out, probably on sale on an extreme discount. You may even sell it at wholesale in an inventory exchange to another business owner. It doesn't matter. But the rule of thirds tells you this is a cycle, right? Buying and selling in retail is a cycle. You're not going to sit on your product until you sell 100%

of it at 100% full price. You're going to get out what you can. You're going to take the cash

bump that you receive. You're going to reinvest it in new inventory and you're going to keep

making money a third at a time every single pack that you sell. So remember, some things are

winners, some things are dogs, and nothing is precious.

So sell what you can at full price.

Don't be afraid to take the mark down if it's sitting here for six weeks.

Get your money out of it.

Reinvest it in something else that can potentially be a winner.

Misconception number two.

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