April 5, 2020
How To Open A Store and Start Your Own Business

How To Open A Store and Start Your Own Business

secure come inside! check out this place
that’s gonna be a boutique and in this and in this video we’re gonna show you guys how you
can start and open up your own boutique from the ground up as you guys can see
this place looks like it’s falling apart there might be a dead cat up there I’m
just kidding there’s no dead animals here this place is literally the bare
bones of what you need to actually open up a boutique so if you’ve had a vision
for it in this video you’re gonna learn everything that you need to know in
order for it to be successful and we actually have the owners here thank you guys for having us out at this location thanks for coming! welcome to the Good Wolf Life Style Company as it is yes, in baby stages forsure what made you guys choose this location
well you know a couple things one being so this corner it’s got awesome
visibility from two major streets of Commerce and of course we all know how
all the excitement that’s happening on Main Street what everything else opening up such a thriving community for artists and people with a vision you know so
people who also want to enjoy a sense of community you know within the the Las
Vegas area so that’s a big part of why we chose the Arts District and in this corner in particular Amazing! I love it where you guys are going with it and I can’t wait to see this
transformation from this store and actually make it a reality
so let’s make it happen all right you guys some of you guys may be watching and wondering John it’s almost 2020 why would we spend thousands – even hundreds
of thousands to open up our own store when you’ve been telling us that we can
start a clothing line for less than zero dollars but in all seriousness guys the
reason that boutiques are thriving is because big-box truly is dying and if
you’re able to create an experience with authentic products you’re now able to
really build up a fan base of loyal customers in whatever town you may be so
a boutique is a perfect hybrid between the online world in the real world and
as you guys can see it’s not cheap to open up something like this and it
definitely takes some creativity from the types of products that you’ll be
purchasing you want to make sure that you know it really stands out and
creates an experience but I really think in all honestly the even bigger reason
that I wanted to share this video with you guys is to really talk about the
thought process and what it’s actually gonna take for you guys to go from an
employee to an entrepreneur you see the founders of this business actually quit
their full-time job and they spent their savings into opening up this location so
in this video I really want to share I want to have them share exactly what the
process they had to go through and some of the things that they had to think
about before they made that leap and I really feel that this video is gonna
help you guys so what better way to actually do this then by talking one of
the founders himself Sean what up man – see you dude thank
you so much for for having us out here dude the last time we were out here this
place looked worse than like a crack hit at the break of dawn it was pretty bad
but you guys did an amazing transformation it’s like legit thing
that you guys saw how this looked before and now this is like a real thing it’s
not made-up so how did you guys come up with the name like how did the good wolf
come to be and like what’s the meaning of it and how did you guys decide on
that name I think a lot of people watching are always like what should I
name my clothing line or my boutique and like you guys came up with such a good
name like how did it come to be thank you so the the tale of two wolves is
really the the backbone of the good wolf lifestyle company and if you’re familiar
with it it’s about a cherokee telling his his grandson a story about a battle
within each human being that consists of a good side and a bad side or a good
wolf in a bad wolf so day in and day out these two wolves battle each other and
which which which you know spawned a question in the grandsons
mind which was okay well which of these two wolves win the grant or the
grandfather then said it’s the one you feed you know and so what
so that really resonated with myself and my wife because we we we understand how
much of a choice it is to to feed positivity
feed courage feed loyalty and and and just feed that good side as opposed to
giving in into something you know negative that and that’s not not so
positive so it’s essentially you’re gonna be feeding the wolf that you feed
right and again that’s the one that wins so so we hope here at the good wolf
lifestyle company just to help reinforce the good and through product and you
know through through household pieces through decor and even just through
conversation and connection we hope to really you know reinforce that idea with
our shoppers and our guests so how did you guys come to actually you
know decide on this location is specific and specific like you guys have a budget
in mind when obviously you needed to have a budget in mind because you were
gonna like put your your savings into this business right so like can you
share some of the some of the expenses of the budgets that people should be you
know cognizant of if they’re thinking about opening up their own spot
well so as you know this area it happens to be a time where this area is taken
off in the arts district so you’ll see a lot of breweries a lot of places to hang
out and eat you know some of those some of our top restaurants in Las Vegas are
actually coming down here for another location or maybe a brand new look or
maybe a replacement location and so we knew that hey if we didn’t make it
happen what we did if we waited if we told ourselves like we had been for the
past you know a few years that we’d wait until it makes more sense then it would
never have made as much sense as it did so we knew that going into it hey we
would have to keep you know our initial rent cost under let’s $5,000 right so we
came across the property and this is after you know touring and visiting
multiple sites in the area that may have made sense but you know sometimes the
some doors shut as they say while another one opens and so this one opened
and it happened to be you know on the corner of Commerce which is which it
which is fed from main with two amazing well it’s just with a lot of visibility
yeah you know and so that’s what Lisa and I really really took to especially
when we do want to create something more than than just an average shopping
experience so talk to us about like the products like how much did you guys have
to kind of save up to purchase a lot of inventory here and a lot of good
inventory right so like tell us about the purchasing of the actual inventory
or like what type of budgets did you guys set for yourselves and was there
any other cost that like kind of surprised you guys or delays that might
have happened as you’re opening it Lisa now we really had an idea and and a vibe
of going it you know especially just having spent so much time in the Arts
District we knew what what kept up I guess we wanted to go after however we
also do believe that we could service every single person in Las Vegas
you know so we had our Tsar our anchor brands especially on the guy side that
we feel like okay so we can build around these collections and and continue to
service it and really find a way to invite every single person that we come
across into our shop and you mentioned like opening POS for some of these
brands right so like some of these new these new brands that that you might be
approaching right perhaps there’s people out there
watching that are like how do i purchase this brand right right so like what type
of commitments did you guys have to make to these brands in order to let them
know that you’re serious about selling their product right so I I would say
something that you know reasonable to expect would be with a lot of these
opening orders which of course when you’re opening a new store every order
is going to be an opening order so so the more that you can get those opening
orders to come down or orb or maybe even space it out to where you’re not
investing so much in that one order you know especially before you really have a
chance to find out who your guest is initially you know because maybe the
guest that you felt like would be shopping you it could be completely
different if you’re passionate about a certain collection definitely go after
it but don’t say yes to every single manufacturer or don’t say yes to every
single vendor coming your way because there’s always someone out there who
might not have a certain minimum so I say your average brand might come at you
with a one thousand to a two thousand dollar opening order and so we need a
couple big brands with that with that with that strict policy which is totally
cool because that’s something that we’re passionate about so that’s why we said
yes going into it you know we felt like hey if we can get these like a couple of
brands that we’re passionate we we know that the guest is going to feet or and
our customers will feed off of that passion you know and and we’re not gonna
regret anything we pick up because we have had our eye on it so it’s almost
like your anchor brands that allow you to go out and and place orders with
other brands letting them know hey we’re selling this brand right store right and
in terms of apparel you know it’s going to be it’s a lot of recognition you know
and so these these companies especially getting started they take care of all
the marketing costs for you when it comes to their brand so it’s
using it for your website or using it for your social media it’s nothing that
you really have to invest in to build yourself when these companies based in
New York in LA and Australia they have marketing departments which which help
the little guys out wrong you know so you don’t have to invest too much in
photography and getting models sort of things like that all you have to do is
get their permission and post it that’s actually a really good it’s a really
good thing that you just noted because it does take a lot of time to photograph
a new brand and to create an aesthetic around it right so tell us a little bit
more about what you had to do to mentally prepare to actually open up and
kind of take the dye from employee to entrepreneur like what were some of the
things in the mindset that you had to like or some of the things that you’re
still overcoming or perhaps you know you have to really overcome at the beginning
talk to us about the mentality and the shift that people need to take in order
to quit their full-time jobs and jump into a business like this Vegas one
would just be you’re never off the clock you know and I think even if you’re
currently working a corporate job or a 8 to 5 job or working for someone else
which is of course can sustain an amazing lifestyle but if you train
yourself now to you know just to kind of live your position or live what you do
you know day in day out I think once you do decide to take the plunge or take the
leap as they say is you’re not gonna have to make that much of a mental
adjustment if you start now where you’re around no no even if you’re not
completely passionate about it you know obviously you know you’re doing it for a
reason so if you start there you know you’re not gonna have to you know a
train you know and get that mental endurance that that that it takes to you
know to start something and sometimes feel like you’re spinning your wheels
but if you again like just like like I just mentioned if you just keep that
vision and that in that path in insight you’re never gonna stray too far off and
you’ll know that what you’re doing is is all of your efforts are feeding
something positive you you had a full-time job both of you you and your
wife both did write in the corporate and in the corporate world for retail so
what were some of your like after work activities that you might have been
doing to build us up because this didn’t come overnight right you guys were very
meticulous about the type of products you you put out from leasing this
building right it all took a lot of time so what were some of the things that
people can do immediately if they have a full-time job that demands our career is
there a certain thing that you would advise that created the biggest results
for you guys to be able to make the leap yep I would say the biggest thing that
really helped us turn the corner was you talk about it if it’s a group of you or
if it’s in my situation like myself and my wife we’ve okolice it we put it out
into the universe and then I think the next step would be talk talk about it
with friends family strangers and they might give you you know a couple curious
looks but if you believe it you can achieve it to sound as corny as that may
be but it’s the truth if you honestly believe like it’s gonna happen and if
there’s no other way it’s not gonna or that and if there’s no way it’s not
gonna happen then it’s going to happen but I but I think vocalizing it and not
just keeping it stirring around in your brain but you have to put into the
universe and and then your actions and your body will follow I think a lot of
things come together the same way right so like once you start putting it out to
other people in the community your friends family they might say hey I know
this person that knows this person that knows right and then you just start
building this thing up out of nowhere you’re like I found an artist right like
there’s a lot of amazing art around here and products and I’m sure it all came
through word-of-mouth after talking up it’s totally and just to add to that I
think the biggest thing is just you know getting getting opinions you know
finding out where in our situation where they shop you know what they’re missing
in a shopping experience what they like about shopping where they do shop you
know I feel like you can’t stop asking those questions because even if let’s
say you’re switching industries you’re all I mean in a lot of ways you are you
know forming a new identity for yourself you know and if you get others to see it
that way you know you’ll like they can be the
ones that give you courage to do it because in your mind you’re telling
yourself well I told John and I got to ask him and pick his brain about all
these things whether you know what you know about his shopping experience and
where he’d like to shop and why isn’t he shopping in certain stores and so he’s
already expecting that so it’s almost like not only do you not want to let
yourself down but you also don’t want to let the people that are around you down
because you’ve already put it out into the universe and they expected from you
at some point too so at this time I’d like to answer some questions you may have about opening up your own location such as what business licenses you’ll
need to get and what type of investment is required
to make your dream a reality now the first license that you’re gonna need is
to actually get a state business license and registration now at this point it’s
highly encouraged and recommended that you guys consider an LLC or perhaps a
corporation since you’re opening up a physical space that way you can reduce
your personal liability should anything happen but always talk to your legal
counsel to make sure that you guys are getting exactly what you need from there
you also need your city permits for your business operation and finally your
sales tax permit to be able to order wholesale and report your taxable sales
to the government now one big tip I recommend you guys if you’re thinking
about signing a lease to open up a boutique is I highly encourage that you
visit your local permit and Zoning Board before you sign it all right
that way you can get the green light to receive the permits you need before
signing it and making the deposits and a lot of the times they’re not refundable
so it’s not up to the landlord to make sure that it falls within the zone that
you guys intend to use it with so make sure you do your research before signing
anything and finally to open a store like this you’ll be looking around a
$50,000 investment in order to sell merchandise and make it fully
operational now this includes the products and the fixtures that you’re
gonna need in order to create the feeling that you’d like to portray and
depending on the aesthetic of the store you could definitely save some money on
the fixtures as you guys can see here Shaun and Lisa came up with an aesthetic
that didn’t require brand new fixtures this allowed them to go out into the
market and buy fixtures that they could probably get for a couple hundred bucks
versus thousands when opening up a brand new store with brand new fixtures now if
you have any questions about obtaining your business license or any other
startup things that we discussed I’ve actually linked a video in the
description down below when we walk you through obtaining a business license and
I highly encourage that you watch this as soon as this video is done mmm
there’s Parfum in here guys I learned something very important Parfum is an
oil-based substance and you know instead of having people spray the parfum and
like wasting your inventory you essentially just spray it in here once
every 7 days it’s a key tip to actually you know keeping your store and dynamic
flow right but I really anyways what I really
wanted to jump into right now is the thought process that came to actually
creating this store right so like how did they decide on which fixtures or
which products they were gonna bring in and of course there’s gonna be a
perfectly way in a segment to introduce the second founder of the business thank
you thank you for sharing your expertise and your knowledge with us yeah well
thanks for coming out today you guys did an amazing job I was I was joking with
Sean earlier about how this looked like a like this place looked like a
crackhead at the break of dawn you know like before and now it’s like it’s so
amazing so talk to us about how you came up with the aesthetic or the dynamics of
the store and what kind of went into bringing it to life today
well the fixtures we had somebody come in and help us place which i think is
the number one step and then we came in afterwards with all of our products
merchandise did and really we just want people when they come in to fill at home
so when you come in it smells like heaven it does smells really good and
the parfum is a really good touch yes yes and then also we just wanted it to
be able to flow so where women could be shopping but men could be shopping and
they kind of can shop everywhere we tried to pick brands when it comes to
candles and small collection that everyone could use so but I think the
most important thing the first step was setting all the fixtures so what the
fixtures you guys created the base and the aesthetic for the products is that
kind of work so in kind of a layout so basically we chose where everything as
far as the big furniture would go and then we came in afterwards with the
product to say okay this is gonna go here the men’s site is gonna be here the
women’s site is gonna be here here’s we’re gonna put spa product you
guys have a lot of different types of products here from apparel to jewelry
and to eve candles and parfum like how did you guys come up with like actually
sourcing for them how did you guys find these types of brands and what made you
want to purchase them yeah we went to market a lot of different markets did a
lot of shopping and as we are a market we you always have a connection with
somebody and we would meet people and different
vendors we would find products that we just fell in love with but not just the
product we have a relationship with the vendor also and I think that’s really
important as you open a boutique or a business to make sure like you have a
connection with that person because those are the people that gonna also
represent you when you sell out they’re gonna hurry to get you more products
when you have a question about how something is selling and maybe it isn’t
selling if you have a relationship with them they’re gonna be able to say hey
you know what not a big deal we’ll take it back let’s switch it for something
else so it’s really important to find brands that you can connect with the rep
also just don’t you also want to pick your favorites but you want to make sure
you have a relationship with the company – obviously you built a relationship
with the you like the brands that you guys were choosing what can brands do to
stand out to buyers like you guys so if somebody has a retailer a boutique brand
that they want to sell to boutiques or retailers as a buyer what makes those
products stand out or perhaps what makes that email or that first interaction
really come to you versus it just being a spammy type of feel like buy my
product you know like like what makes you guys kind of attached to the people
that do reach out and do take the time to to want to put their products in the
store that’s a great question I would say the story and everyone’s story it
means something and I think if you as the buyer of the boutique so if you were
the person selling the product to us if you have passion and you have vision and
you have a story and you share that with us and we can fill your passion and your
see your vision and fill your excitement we are gonna be excited to represent
your products so that’s how everything was chosen in this room people who had
passion they had a story they believed in what they were doing that I think is
the most important thing so I think a big challenge that every business has is
obviously the foot traffic right and like in terms of people walking into the
store especially when you’re not in a mall area and I mean malls are even
dying right so people aren’t even walking those anymore so what would you
say is like are some of marketing initiatives that you guys have already
put in place because I don’t watching that has been bringing people in and
what do you feel is gonna be some things that people
need to know out there if they’re thinking about doing something like this
well Sean said it earlier but to say yes to everything like anytime somebody asks
you to do something say yes another thing that we’ve really done a
great job is Instagram social media anything that you can do to be
consistent and invite people to your page like when you go to dinner and you
have a waiter that waits on you to be able to say hey we’re business owners
we’re opening a boutique in the arts district you’ve got to follow us on
Instagram Facebook whatever your social media thing is but be consistent with it
another thing that we’ve done is just word of mouth and we’re blessed because
we come from a place that taught us how to do that but really everywhere you go
you have to and you shouldn’t have to you should want to make sure you’re
letting everyone know like what you’re doing why you’re doing it why they
should partake everyone wants to participate but they just need an
invitation and so just making sure you’re inviting everyone to your party
every day to us is a party and so make sure everyone knows you’re having a
party that’s actually a really good piece of advice is like you need to let
people know because there’s billions of people out there right so it’s not like
you’re telling everybody every time you’re sharing that story like there’s
somebody new out there that doesn’t know about it
and to this day coca-cola market stuff right and like you would think they had
the market share like already locked in but there’s a new person being born
every day right and there’s a new person that needs to hear about your boutique
in your store so right about now you may be wondering how to best capture the
sales at your store now people are either gonna bring cars they’re gonna
bring cash or they might want to do something online right now there’s a lot
of options available and even the banks that you do business with will offer you
something but when it comes to opening up a boutique
where you will also hold inventory that people can buy online through your
e-commerce website there is one platform that truly stands out and I want to
discuss it with you guys right now so you guys are using Shopify to organize
your inventory and your sales platform and everything yep on what on
it really takes all the guesswork out of a kind of thing so yeah especially like
when there’s a because there’s a lot of different options right better like you
guys were looking into square until like my speed and all these like sales based
type of things what made you decide on Shopify though like what was the thing
that really sold you guys on it it was really just the ease you know in being
able to control it on yourself from the inventory management management
perspective to getting that imagery on a website before we had a brick-and-mortar
and in allocating some of that product for the brick-and-mortar once we
actually had a space and we’re up and running so just being able to transition
from one to the other and maybe and maybe back to that to the to the
original is going to be seamless so yeah so like the reason I say that it’s
because I always preach Shopify on my channel and like everybody that watches
if you’re a new viewer to this channel you will know that I always praise on
Shopify for the for the for the functionality and the ease of use yes
and I think that if you’re going to start something you got to do it you got
to have that that system that can grow with you I feel like you start at a
certain level when you’re just getting started you increase your package but
you never have to start from scratch exam and I think that’s like the biggest
hurdle that a lot of people have is when they’re switching to new platforms they
have to like migrate all the products or or find a way to integrate the website
to the excel sheet that updates the the warehouse or the fulfillment center with
your product inventory right Shopify has it all in one so that was pretty good
isn’t it this is not a paid plug actually but there is affiliate links
down below so yeah you guys want to get started click on the affiliate link for
Shopify get your setup so you guys can see I really hope you
enjoyed this video I wanted to leave this video off with just letting you
guys know that regardless of where you’re at right now you guys can do this
you could take this on if you really feel like it’s something that you want
to do as you guys saw inside they really took a risk
they left their jobs their full-time careers to start this business it’s not
something that’s easy it’s something that actually takes it’s very hard right
but I think the most important thing that you can take away from this is just
knowing that you can do it and just starting with wherever you’re at you
don’t have to invest hundreds of thousands or even thousands you can
literally start with something as low as a couple hundred bucks to test out your
idea and actually make it a reality so that’s what this channel is all about
guys it’s never been about you know China trying to tell you that it’s super
easy and simple it’s just been about trying to help those that really want to
start something because the world is always out there telling you that it
can’t so we’re just here to tell you that you can so always make sure that
you know that and make sure you hit that subscribe button if you enjoyed this
type of content see you guys on the next video

11 thoughts on “How To Open A Store and Start Your Own Business

  1. This video is great John! Thanks for sharing and I’ll def check out this store with my wife the next time we’re in Vegas!!! Congratulations to the owners!

  2. Dope video man! Definitely subbing and hopefully, in the future, we can do some form of collaboration πŸ‡¦πŸ‡²

  3. Love the encouragement, brother. God is good and it's awesome seeing God's people with vision and big dreams! Keep doing what you're doing and awesome support for small businesses! Little by little, if we don't give up, we will reap a harvest!

  4. Hello what's your thought on laser engravment business? Maybe u could do some?

    Can follow me on IG: @quantwind

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