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1. Vendor Onboarding Process

1.1. Vendor Recruitment

  • Identify Potential Vendors: Research and reach out to Black small vendors whose products align with your boutique’s ethos.

  • Vendor Application: Create an online or paper application form where potential vendors can provide information about their business and products.

1.2. Vendor Evaluation

  • Review Applications: Assess the quality, uniqueness, and marketability of the vendor’s products.

  • Meet and Greet: Arrange meetings with potential vendors to discuss their business and expectations.

1.3. Agreement and Setup

  • Sign Vendor Agreement: Have the vendor sign the Vendor Agreement.

  • Product and Pricing Submission: Have vendors submit a list of products and their retail prices.

  • Inventory Setup: Set up initial inventory provided by the vendor.

2. Product Management

2.1. Delivery and Display

  • Product Delivery: Vendor delivers products to the boutique.

  • Inventory Check: Boutique staff check the delivered products for quality and quantity.

  • Product Display: Boutique staff arrange the products in the designated retail space.

2.2. Inventory Management

  • Stock Monitoring: Vendor regularly checks stock levels and restocks as necessary.

  • Inventory Updates: Boutique staff update the inventory records with sales and new stock.

3. Sales and Payment Process

3.1. Sales Tracking

  • Point of Sale System: Use a POS system to track all sales transactions accurately.

  • Sales Reporting: Generate monthly sales reports detailing the products sold and total revenue.

3.2. Vendor Payments

  • Calculate Earnings: Deduct the boutique’s 25% consignment fee from the total sales revenue.

  • Monthly Payments: Pay the vendor their 75% share of the sales revenue by the [15th] of the following month.

  • Provide Sales Report: Send the vendor a detailed sales report along with their payment.

4. Marketing and Promotion

4.1. Marketing Collaboration

  • Vendor Spotlights: Feature individual vendors on social media, website, and in newsletters.

  • Collaborative Campaigns: Work with vendors to create special promotions or exclusive collections.

4.2. Events and Community Engagement

  • Pop-Up Events: Organize in-store or online pop-up events featuring the vendors.

  • Workshops and Classes: Host events where vendors can interact directly with customers and showcase their products.

5. Customer Engagement

5.1. In-Store Experience

  • Product Information: Ensure staff are knowledgeable about the vendors and their products.

  • Customer Feedback: Collect and analyze customer feedback on the products and shopping experience.

5.2. Loyalty Programs

  • Reward Programs: Create a loyalty program that rewards customers for purchasing vendor products.

  • Exclusive Access: Offer loyal customers early access to new products or special discounts.

6. Review and Optimization

6.1. Performance Review

  • Monthly Review: Conduct a monthly review of sales performance and vendor relationships.

  • Feedback Session: Hold feedback sessions with vendors to discuss what’s working and areas for improvement.

6.2. Continuous Improvement

  • Update Processes: Adjust processes based on feedback and performance data.

  • Expand Vendor Network: Continuously seek and onboard new vendors to keep the product offerings fresh and diverse.

Implementation Checklist

  1. Set Up Application Process

    • Develop vendor application form.

    • Establish criteria for vendor evaluation.

  2. Finalize Vendor Agreement

    • Customize and review vendor agreement with legal advisor.

    • Prepare agreement packets for new vendors.

  3. Organize Inventory Management System

    • Choose a POS system that supports consignment sales.

    • Train staff on inventory management procedures.

  4. Develop Marketing Plan

    • Plan social media and email marketing campaigns.

    • Schedule vendor spotlight features and events.

  5. Customer Engagement Strategy

    • Design loyalty program.

    • Train staff on customer interaction techniques.

  6. Performance Review Schedule

    • Create a calendar for monthly reviews and feedback sessions.

    • Set KPIs for sales performance and vendor satisfaction.

Community Boutique

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