Case Study – I Want to Open My Own Clothing Boutique in Cincinnati

Situation:

A successful young woman in Cincinnati Ohio wants to put corporate America behind her and open her own Women’s Clothing and Accessories Boutique. Recent life events have made it clear to her that waiting to begin her life’s dream was not a good idea. Given the current economy, there are a lot of considerations that need to be examined when making the decision to start a retail business.

Analysis:

1. Does this prospective store owner have enough fire in her belly to actually be her own boss, run her own store, and handle all of the problems of small business ownership on her own?
2. How will the business be funded? Does she have sufficient capital to foot the bill for the build out of the space she needs?
3. What location should she be looking at?
4. How will she negotiate the lease for her new location? Where should she look at placing her new store?
5. What is a reasonable timeline to look at from beginning work to grand opening?

Solution:

The answer to the first question is that this young woman has enough fire in her belly to make heroes of an entire bomber squadron. Experience is another question. She has enough capital saved on her own to begin working on her store concept and to support herself while the store becomes self sufficient.

On the recommendation of a good friend she has hired ASBC as her business advisor to guide her through the process of finding, building, marketing, licensing, and opening her new business. Curate will be the new store name and it will open in Hyde Park. Projected opening date will be April 2013.

ASBC has recommended builders, sign companies, insurance vendors, interior designer, merchant services, graphic artist, and financial institutions to her for consideration for the new store. An ASBC business advisor went with her to inspect the location, worked with her to negotiate the new lease, and was with her when the first construction contractor went through the location to give his estimates for construction.

ASBC will be blogging about the creation of Curate and how a dream of owning your own successful business can come true with the correct guidance and direction.

About Curate: The store owner is Courtney PeGan, and it was her father that inspired her to become her own business owner. Courtney started being her own boss at age 7 selling prisms and jewelry at antique shows. The projected opening for the store is April 2013.

Comments

  1. This journey has been one of the most exciting, challenging, and rewarding things I have ever done….and I have barely scratched the surface. For the first time since I admitted out loud that THIS is what I wanted to do with my life, I feel like I know I am on the right track, doing things the right way. Thank you, Tom!

  2. Del Weldon says:

    Courtney is one of the most driven and talented people I know. There is no doubt that she will make this dream a reality and a success.

  3. Cassandra Hitchcock says:

    Courtney,
    Best of luck to you CEP! I cannot wait to see the concept come to reality. You strength and fortitude over the past year has been an inspiration to us all. I am really proud of you! Go get em’ Court!

  4. Hope you have prisms at the new store. No doubt Curate will be a success, your belly is full of fire (that’s a compliment)!

  5. I can’t wait!

  6. Kristi Murphy says:

    Courtney–you are an inspiration and I’m so glad you are running full force after your dreams! You would make your dad proud–I know the rest of your family is behind you and so are the Murphys out in Denver! Good luck with the venture and I’ll look forward to coming to the store at some point in the future!

    -Kristi

  7. Wishing you much success…having seen you in school and around town since you were a preteen I know you have the drive to go after whatever your heart desires. I can’t wait to visit the new shop!

  8. Anna Clare says:

    Good luck, Courtney! Will Curate have an online presence?

  9. Jeff Etter says:

    Jeff Etter,

    I am an 57 year old traditional boy who is going to drag his old bones all the way to Cincinnati to buy something and support my awesome cousin. Wish I had your drive and enthusiasm and I can feel success in your future. Very happy that you are chasing down your dreams. Nothing but kind thoughts your way.

  10. She’s got fire in her belly, and PeGan in her blood! Way to go Court! Glad I get a front row seat watching you tackle this dream.

  11. Wow! I’m so impressed! We don’t make it to Cincy very often, but I see a trip in our future!
    You are amazing!
    Becky (Hart) Mills

  12. Memaw & Poppy Brumley says:

    Courtney, you have the spunk and you have the drive to succeed, but more important you have our prayers. All the best from two of your oldest friends.

  13. Norman Kanis says:

    You will be a great success, can’t wait to visit your new store!

  14. ginny etter caley says:

    wow courtney, i am so very pleased to hear of your moving forward to make your dream come true! i have no doubt curate will be successful and i look forward to being a customer and part of your dream. and that’s all it takes, especially with your bloodline!!!! let me know what i can do to help in any way ever. sincerely, ginny etter caley/gem’s

  15. Marie L. Mitchell says:

    Courtney you can’t know just how proud I am of you. God has blessed you
    with personality and a beauty on the inside as well as on the outside.

    God Bless you in everything you do.

    Much Love,

    Nana and Don

  16. I know your mother and she is very proud of you. Best of luck with your new business. I know it will do well with the location you have chosen.

  17. Mary Moore says:

    I have known Courtney for quite some time and I know she is very intelligent and she has the drive to do whatever she sets out to do. I wish her all the luck in the world and I have not doubt that she will succeed in establishing her dream. The best of luck to you Courtney.

  18. Good luck in your new adventure. I live in S.C., but I have relatives in your town and will be e-mailing them tonight to look for the grand opening!

  19. Mary Lou Ridenour says:

    Dear Courtney,
    Your Mom shared this with some of her High School friends. It is an exciting venture you are getting ready to embark on. Hope God opens all the doors for you and that He will be with you as your start your new business. I will look forward to hearing from you again. Mary Lou Ridenour, Aiken, SC

  20. Josh Johnson says:

    Good Luck Court!!! You have always succeeded in your previous endeavors so I am sure this will be no different. You will always have a customer in me (well actually Christine will be the beneficiary but it’s all the same)

  21. Amy Marqua says:

    Sounds like the perfect adventure, Courtney!! Look forward to seeing your successes unfold!

  22. Nicki M PeGan says:

    Courtney was born with big dreams. She never does anthing half measure! Why should this be any different. Know that I am behind you 200 per cent.
    Love
    Mom

  23. Excited to see you work towards this goal! You will do great.

  24. Courtney has never failed at anything she’s put her mind to. I can’t wait for Curate to open and to see what vision she has crafted for us to purchase. I like to refer to Courtney as my “fancy” friend because she is stylish, successful, and flows through life making everyone else glad to know her. Owning a business isn’t easy, but waking up and knowing you’re working for something you believe in will help get through taxes, payroll, and all the other not fun stuff.

    So proud of you Court and can’t wait to spend my hard earned money at Curate!

    -Erin

  25. Vanessa PeGan says:

    You have prepared yourself for success by attending the Kranert School at Purdue, working for a great company P&G and through keen observation. However you will go from reporting to a few bosses to many; when you own a store your customers are your bosses. You will have a lot of us in your corner and hopefully an aunt in Lafayette could be one of the first fashion makeovers. Please help me before Stacy and Quentin arrive on the scene!

  26. Evans Family says:

    Courtney, Marketing Knowhow, Creativity, Focus and Drive…a winning combination. Can’t wait to see how you do retail bricks, mortar and beyond…
    The Evans Family

  27. Congrats, Court! I know that you are going to be an amazing business owner and be the envy of Hyde Park Square. Can’t wait to see your store open soon and always here to help as a friend and a small business owner. I know that you could move mountains if you wanted, so go for it! I would recommend that you try for the next Bad Girl Ventures class and would be happy to be your mentor through the program :)
    Love, Stacey

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