Opening A $102K/Month Boutique Business (See What It Takes)

[@UpFlip]

Join UpFlip Academy and learn from the best in the industry: bit.ly/3WzIEfC

[@roycescott5521]

WHY IS HOLIDAY MONTHS A SLOW SALE SEASON FOR URBANITY ? its the BIGGEST SALE TIME OF THE YEAR !!!!!! WORLDWIDE !!!!!

[@roycescott5521]

ALSO .......HOW MUCH FOR THE LIST OF MANUFACTURES AND DISTR ??????

[@davidpedrazashortsmeta4253]

Love it 😍

[@davidpedrazashortsmeta4253]

Don’t have the capital

[@Urbanityshop]

@@roycescott5521 Slow? I said thats the busiest times, but you have to plan for the slow months after holiday

[@clau-det]

I love that he asked the IMPORTANT QUESTIONS. Never seen a channel go this in depth before. Great content

[@UpFlip]

Exactly! That's what we love to do. 😊 Thanks so much for watching.

[@AndrewFrederick87]

I don’t think the owner expected these questions either lol

[@kirstyrichardson8481]

I was so apprehensive when I seen this video pop up on my feed, I thought it was going to be eye rolling egotistical. Was not expecting how realistic, humble and passionate this guy turned out to be. Currently staring my own business, found this really inspirational and helpful. Thank you!

[@UpFlip]

Awesome Kirsty! We're glad that you decided to watch and that the video inspired you. What type of business are you starting?

[@ashevillecomics637]

Great stuff man. I'm on store number 4. I blew a fortune on the first store, learned so much from that experience. That build out, for less than 1000 sq ft, cost over 100k. The second store cost 25k for a store twice the size. We custom build all out shelving, but it's raw plywood mostly so much cheaper than finished wood.

[@UpFlip]

That's great Asheville Comics. Congrats on your success. 😀Do each of the 4 stores sale the same type of inventory?

[@ashevillecomics637]

@@UpFlip Thanks! Three of the four are comic stores, they basically sell the same products, though the first one was sold, It was very valuable for being a sort of practice store, the one where I made all the mistakes, from build out, to products, and even location and store size, I learned what not to do. Now I own two comic book stores and a card shop, very different in some ways, but a lot of similarities and crossover with customers. The card shop is in the same strip mall as one of the comic shops, and we'll be opening a game store in the same plaza next year.

[@tonethbarrera6973]

who did you hire for the build out

[@ashevillecomics637]

@@tonethbarrera6973 we did everything ourselves up until very recently we hired a local handyman for help. I simply don't have time to build anymore, goodbye splinters

[@jamesorr5874]

@@ashevillecomics637 What were some of the biggest mistakes you made during the build out of your first location? How is the process of opening the game store going now?

[@SANNAsewglam]

I have been in business for 22 years. Custom clothing. Always enjoyed it but now I plan to join my sister to create a boutique! This has been the Best and Detailed info since business school. Now I am really excited to start this new venture with My Sister! Cheers!

[@saintamongstthecowboys4973]

If anybody sees this. I am extremely thankful for the information provided in this video. I plan on taking my brand to a similar vision as this one. So thank you Lee

[@UpFlip]

Yes! Keep us posted on your business. How long have you been a business owner?

[@mannie5851]

Amazing KZbin channel. I love it when you guys divide sections of the video so I can skip to different parts of the video. Thanks!

[@UpFlip]

Glad you enjoy it!

[@j.r.134]

Thank you SO much for this content and kudos to the business owners who are humble enough to share knowledge. I’ve tried asking these kinds of questions to business owners out of interest and curiosity and so many get paranoid that you will steal their ideas or become their competitors. I was genuinely interested in their stories and the process… not necessarily their industry. This channel is awesome and so inspiring. I always enjoyed Shark Tank but had so many questions about how you get to that point where you’re ready for an investor and this channel answers so many questions. Please keep up the good work. I looked for the podcast because I’d love to follow but did not find it :( I looked for the podcast on pandora and nothing.

[@roberts.8389]

This is the type of content I want , in depth 🔥

[@UpFlip]

Hey Robert! Thanks so much for watching! So glad you enjoyed it.

[@artemisa3_]

Thank you!! you guys inspire me!!

[@bhjoshscentz]

This video is the answer to my prayers. 🙏🏾❤

[@cirodimarzio6195]

This channel is really beneficial. Learnt a lot from watching these vids...Keep doing your thing

[@UpFlip]

Glad to hear it!

[@MILABRRA]

HE SEEMS A GENUINE GUY MORE POWER TO HIM

[@UpFlip]

Thanks for your kind words, you as well!

[@KnowledgeWealth222]

Great video. I just ordered my first big shipment for my store. Blessing 🙌🏼

[@robfogleman3732]

Thanks for the video, dropping real world gems for small business retail start ups!

[@UpFlip]

Hey Rob. That's exactly what we try to do. So glad you liked it. What was your favorite part?

[@officialmichaelhudson]

Amazing video! I’ve Known Lee for years and he’s the real deal! 🔥

[@UpFlip]

He truly is!

[@SimplyTastyCo]

Who else watches from beginning to end? 🙋🏻‍♀️

[@UpFlip]

Thanks for the support!!

[@jadenwilliams07]

Umm i don't think you can go end to beginning so me too!

[@saintamongstthecowboys4973]

The entire video is very informative and the q & a kept me interested.

[@dolapoagunbiade4799]

Awesome job man, gonna do the same thing here in Toronto 2022. Loved the insight fam! keep up the good work

[@UpFlip]

You Rock Dolapo. We believe in you!😀Are you going to sell the same type of product?

[@RideTheRidge]

250k loan just from a business plan ?!

[@sheaverbois1031]

First and foremost, this video gave me awesome insight. Im trying to bring a similar style shop to my hometown and it would be a first so that's big, but my question for Lee is, when you are moving towards a startup or starting a small business, would you recommend looking for investors, silent partners, or a small business loan? Reason I'm asking is because I have very little capital, so I'm worried I will have a hard time getting the loan. Ive ran my own Salon and was a hairdresser for 11 years so I feel like I've got some knowledge of how to make the experience people get top notch. I've just never been great with numbers, so its intimidating asking investors or a financing company not knowing the procedures to say the least. Sorry for the small novel, Im just thankful I stumbled on this video. It was the spark I needed to get this thing going.

[@UpFlip]

Hey Shea. Thanks for watching! Glad you stumbled upon us. 😊 Here is a link to business financing options that we feature on the blog. I think this could help. www.upflip.com/business-loans

[@Urbanityshop]

Hey Shea, I’ve had partners in other ventures and it’s really tough. Once money gets involved then things change even if it’s a best friend/family member. I would just start small even if it’s online and build your way up. That way you can keep your other job and when you have built up the clientele and you feel it is time, you can make the jump to full time. I hope that helps!

[@alanadouglas3356]

Best business video answered all the right questions. Kept it 100% real I appreciate this alot

[@UpFlip]

Glad you found the video helpful and genuine! It's always refreshing to come across content that delivers valuable insights without any fluff, right? 😉

[@prinoooo2714]

Thank you for asking relevant questions im so determined to succeed with my business Im researching the hell out of everything lol

[@abovelabelkh]

i wish this video out 8 years ago. it woulda help me so much. super great video!

[@UpFlip]

We're glad you enjoyed the video Above50k. Are you in the Boutique business?

[@estevang.4693]

I do not know how I barely found your channel, what a great interviewer!

[@UpFlip]

Welcome Estevan! We're so glad you're here. Videos come out every Monday. Is there a certain type of business you'd like to see on the channel?

[@RochaFella85]

Finally a video that covers the important aspects and actually gives you great information! Thank you! I just want to know how do you decide what sizes to get if you only offer 1-4 of an item?

[@UpFlip]

Thanks for your feedback! It’s great to hear that you found the video helpful! 🙏

[@uvuvwevwevweonyetenyevweug3450]

This is what I have been looking for thank you so much man

[@UpFlip]

Hope this episode made you kickstart your own biz 🔥

[@namwanjaivan6954]

Thanks for asking the best questions

[@betsymorales1567]

This was just incredible 👌🧡it just up lift me a ton!

[@Ahmad_RaqsGear_Ceo]

You definitely asked all the right questions

[@UpFlip]

Thank you!

[@jazzweather]

Great advice and very interesting to learn about boutique clothing. Please do an episode on starting a software business. Thank you!

[@UpFlip]

We're so happy you enjoyed Jazzweather. We'll keep this topic in mind. Is this the industry you're currently in?

[@jazzweather]

@@UpFlip Yes, and thank you for the consideration!

[@Cjmak808]

Great video! Been wanting to open a store for years and now Im more confident in taking the right steps. Thanks!

[@UpFlip]

We're so glad you enjoyed the video Cy. You can do it. 😀💪 Would you sell the same type of merchandise?

[@jamesorr5874]

@Cjmak808 What kind of store? Wondering if you ended up starting one and if so, how its going...

[@VikramSingh-wb5rq]

This presenter is good you know. I like how you can set up the business and the advice you can get from someone who is already in the business. Wish he wouldn’t have told the whole world now how to set up the business 🧑‍💼

[@UpFlip]

If you're inspired to be like him, please feel free to check out our channel for more inspiration. We aim to lay out "blueprints,” so other people will be successful too. Sharing is caring! Best of luck 👊

[@AK27KEV]

Shoutout Urbanity. Love the store and the people there.

[@UpFlip]

Thanks for watching! We appreciate you.

[@richy3356]

Inspirational video ❤

[@SS-vc9bw]

Awesome interview and questions 👏

[@finnyluccimusic]

I have watched this many times over. It's a very insightful interview. But just quickly let's do some numbers. All following figures are estimates based on what he says in the video. He says it costs around $240,000/year for rent, $600,000/year for inventory, and let's say $100,000 in wages. The store makes $1,200,000/year in sales. That means $1,200,000 - $940,000 = $260,000 excluding other expenses/costs. So let's assume he does around $230,000 in profit per year. Minus tax expenses @ USA's rate of 21% and he is left with $181,700. For a company that turns over $1,200,000, that seems like a very small amount. Am I wrong in thinking this or am I doing these calculations incorrectly?

[@Bythebartalk]

How did he get a quarter mil at 23 with a business plan, what collateral did he use? Who helped him

[@johanngill1]

Would love to see that business plan!

[@UpFlip]

Same here!

[@LostLoveFrenchies]

Impossible. Its all trends and hype . Gotta be chosen

[@Urbanityshop]

@@LostLoveFrenchies what’s impossible?

[@LostLoveFrenchies]

😂not literally he clearly did it . Shoutout to him though real motivation for others

[@Eltopshottah]

Haha for real my boy

[@gaganmittal5367]

Would find and consider doing a carpets or rugs business. I want to start my own rugs business in Canada.. definately the best you tube channel who asks the meaningful questions... Keep up the good work...

[@cotyhoepfner9380]

“rich is not what you have, it’s who you have besides you” -rich kids brand

[@reginapettis5193]

This video was great! 💯

[@UpFlip]

Glad you enjoyed it!

[@becka36ful]

I'm opening A blue jean clothing boutique store 🎉🎉🎉🎉🎉

[@KabeloNgcwatywa]

Pray for Jesus to bless and protect your daily bread ❤

[@SolowSports]

so great how much these businesses share about their numbers and process

[@Jaihind_RG]

What I like to upflip, they understand the audience and raised a questions behalf of audiences 🎈❤

[@UpFlip]

We really appreciate that RG. 😀 💖We want to make sure our audience is able to take information from the videos and use it in everyday life. Please let us know if we can improve in any way or what type of content you'd like to see in future videos?!

[@Jaihind_RG]

@@UpFlip you are doing great 😊. Keep rocking

[@TheUnholyPosole]

When a grass roots store starts, do the owners go to a middle man for products, or do they individually source every product?

[@300options7]

Would you please do one with the owner of a smoke/beer shop? Or a glass shop that sells Tabaco products and stuff out of Washington.

[@allthingspehlla1449]

This was great! Just wanting to know if Lee does mentorship? This was such excellent information.

[@UpFlip]

It's worth reaching out to know if he can offer you mentorship-head on to his website. Link's in the description! 😉

[@IamDevineCap]

Thanks for showing me what NOT TO DO when I start. Much thanks.

[@Ed-qn9kz]

Great vid! Wish you will feature a grooming or skincare founder in one of your next vids!

[@UpFlip]

We'll be doing one of them next year ;)

[@amilton1015]

Thank you guys. Success always.

[@UpFlip]

Same to you!

[@movadopika]

Each time I have been to the Bellevue Mall and went by Urbanity, it is either closed or no one is in it. Mind you, this has been on weekends when traffic is heaviest. If they are generating $100K each month, I do not know where it is coming from.

[@Urbanityshop]

Hey man I think you are confused. The side room is a completely separate business from us. I just rent that room out, so it was not included in our sales. We are open everyday 10-9. Sunday 11-7

[@kyles2232]

Pot front :)

[@abdiadam3808]

@@Urbanityshop well done Lee, wish you all the best, do you think 100k will be enough to open similar shop ,Thanks

[@Urbanityshop]

@@abdiadam3808 Yes I do....I over spent, a $100k is plenty

[@music-vl5wq]

A business plan is enough for a business loan? Are any collateral requirements? Or business previous experience required right?

[@sunoverbeach]

Asking the real questions. He must have had a guarantor I reckon. I doubt a bank would give out a quarter mill to a young starry-eyed entrepreneur with a business plan and nothing else.

[@josefinafernandez3568]

awesome! very well explained and well detailed. ty!

[@UpFlip]

Glad it was helpful! Thanks for watching!

[@Urbanityshop]

That was great, thanks guys!!

[@UpFlip]

Thank you for the interview Lee, it was so much fun!

[@KKAllenAuthor]

This is so inspiring!

[@UpFlip]

Glad you enjoyed it!

[@SuperUShopFitting]

Good design and it is all about the building shop cost. If you need a better solution to build a store, feel free to reach out.

[@UpFlip]

Thank you for watching Super U Shop Fitting. 😀We'd love to hear your experience on building a store. How long have you been in the industry?

[@askbellwether]

This is seriously cool!!

[@toni3432]

Man i see some great Sneakers there...all this Airmax and the Colorways🔥🔥

[@UpFlip]

Thank you for your comment. Is there a specific pair that caught your eye?

[@toni3432]

@@UpFlip Yes the Orange Airmax but i can see witch model it is..💯👌

[@toni3432]

It's the97 airmax 🔥🔥

[@CoachB762]

Any tips on buying products?

[@ChrisCoombes]

I appreciate L’s openness.

[@UpFlip]

Yes! That's awesome! Thanks for watching! We appreciate you!

[@dannycrain3485]

You didnt ask about the book he recommends the last to shows you didnt. I look forward . To that.

[@UpFlip]

We will keep that in mind for next time! Any other questions you look forward to hearing?

[@Urbanityshop]

Check out Group Chat podcast, they drop a ton of knowledge on there

[@medic4178]

Hell. We are getting ready to launch a T-shirt business in Boquete, Panama starting in January. Will Gravity work for us here?

[@UpFlip]

Great question, Ed! Thanks for watching!

[@estebanazcarragasada9386]

Magnificent business

[@UpFlip]

It truly is!

[@rondellrussell3987]

Would Love to get something like this going in my area, looking for info.

[@UpFlip]

Thats awesome! Hope this video helped in any way!

[@travelrx81]

I am ready to start my children's clothing boutique. I will be mostly aiming it towards boys' graphic sweaters and hoodies (since I am a mom of 3 little boys) Children's clothing market is over saturated with girls' clothing and not really enough for boys, as I've seen. Hoping to take away a lot from this video.

[@ismaelhall3990]

solid dude

[@luissandoval7388]

102k in sales or profit? .. very nice video

[@CapeSIX]

>.> ive got $10,000 worth of oakley sunglasses over 5 years of collecting tho

[@UpFlip]

That's impressive!

[@davidpedrazashortsmeta4253]

Love it 😍

[@UpFlip]

He's rocking it! Thanks for watching!

[@BoutiqueBoost]

Great information.. 👏

[@hakandemirci675]

thank you for the video, wish you more success bro, however, i will get rid of those brands that don't allow you sell online as soon as i fell like i can. that's a shady business model,i would get rid of them once i don't need them anymore if i were you

[@HUGHZ4EVER]

very educational video < tons of free game given out

[@UpFlip]

Thank you for letting us know!

[@stacythor7639]

Thank you ❤

[@Famous_Flavours]

$250k loan at 23 yrs old, you'll need to put a property up as collateral

[@UpFlip]

To start a business, big or small, one must have capital to invest. Fortunately, there are plenty of ways you can get it. One way is to get a loan; for more information, you can read more on one of our blog articles 👉www.upflip.com/blog/startup-business-loans Please feel free to browse and watch more of our videos to see how different business owners got their capital. Hope this helps! :)

[@CharlesWarrenOnline]

Why don’t I believe the numbers 🤔

[@pedrocortez3797]

right, they don't even have a running website and have very little interaction on IG. Their items do have high profit margins tho idk...

[@de-liang95]

we are also a online shopify store!But we are mainly in display mannequins,head mannequins,half scale dress form and all kinds of mannequin.But i also watch Lee's video!helpful!!!

[@CaliforniaRussianRiverBees]

Hello. Working on a business plan 🕹 🤙🏼

[@UpFlip]

That's awesome! What type of business is it?

[@ZabooSpook]

Where do buy your stuff from ?

[@UpFlip]

If you're starting out, you can source your items from your local suppliers. You may also check online for bulk items. Whichever you think you can get value from! 💪

[@keemybrannon1139]

I want to expand my business

[@lifewithzoewhite]

great video!

[@UpFlip]

We appreciate that LifewithZoe.😀 Are you new to the channel?

[@lifewithzoewhite]

@@UpFlip indeed I am

[@darioxbrow9223]

Writing skills are fundamental for your business plan. You might need loans to get started

[@LeaZuko]

If I wanted to do something like this where would I get inventory from?

[@UpFlip]

Great question Lea! You could make the product or purchase it from a wholesaler, warehouse, etc. What type of clothing would you sell?

[@LeaZuko]

@@UpFlip I'm wanting to do something like him and open a boutique but always wondered would I contact the manufacturer personally or is there a wholesaler I can contact?

[@lesliejones873]

Thank you

[@stevepatel6537]

you guys needs to make more videos and create community to help new people to grow

[@deborahostmo]

why would you want to be in a mall in 2022 this is quit outdated the bricks and mortar as a small business. Its very risky and not a good idea

[@pokene_pokemon]

Would love to have my wife and I on your channel- started a Japanese trading card business and got featured in VICE news for it. Over 520K in revenue this year. Please Lmk if you’d be interested 👍

[@UpFlip]

Hello! Where are you located? :)

[@pokene_pokemon]

@@UpFlip omaha NE :)

[@blackguyincali]

I mean they are pretty basic like most stores and like most stores they don't have my size. So I just have to continue to find better stores.

[@UpFlip]

Have you considered opening one thejuice32 for others who may feel the same way?

[@blackguyincali]

@@UpFlip I'm not in the business of selling clothing. Though you'd think with some many clothing stores like this I'd be able to find more stores that do since mybsize is always the first to sell out. Good luck!

[@AAAA-nv5cf]

How many times y’all gonna change the thumbnail? Lol

[@UpFlip]

Testing and improving our CTR ;)

[@doncyellowman4411]

That should be 100.000.000 a day business

[@onewebdesign4654]

he sounds a lot like Brüno played by Sasha Baron Cohen 😁 and looks a little bit like him too

[@antoniorios3856]

Hardest part about building a store front is the upfront cost, property and utilities alone can be steep

[@UpFlip]

Thanks for the feedback Antonio. Yes, upfront cost can range in price depending on the business. What type of industry are you in?

[@doronuzan]

tremendous value

[@lifewithmaleek9617]

Dope insight

[@eraww3545]

Bros not doing anything special Zumiez has million dollar stores as well since you spoke on them. The demand for hypebeast street wear is at an all time high. He just tapped into a good market you just need lots of money for a start up. Not that special but I respect him for doing it and not just saying it. He definitely had some money going into things idc if you come in with bill gates and Elon musk if you have no prior credit, collateral or expendable income there’s no way they just gave it to you especially a small local bank.

[@UpFlip]

Thanks for watching Eraww. So, do you think if someone stayed consistent even if they didn't have startup capital, they could still be successful?

[@angelachanellehuang5663]

I went back to school in my 30s to improve my career

[@UpFlip]

That's something to be proud of! ☺️

[@echy]

Inspiring

[@UpFlip]

Thanks for watching!

[@samuelbustillos9844]

Cómo puedo tener contacto con ustedes..de México

[@UpFlip]

Thanks for watching! We appreciate you!

[@OmarMartinez-rk6oj]

Reyes sent me

[@najeemullahkhan2199]

Make vedio on a small houses construction company

[@IamDevineCap]

“My advice, don’t do what I did. (Brick and mortar store)”