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by Leah and Elina Furman
Published December 1, 1997
Read more Small Business Brainstorms
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Pop quiz: What was it that they meant by "shop till you drop?" Those of you who never tire of the chase probably have yet to figure that one out. You are the apple of America's eye — the carefree consumer. Mind you we're not talking careless, which is largely pejorative, and suggests the unsavory image of a house full of junk. No, that's doesn't describe you in the least.
The ideal candidate for this venture is an impresario of style. The model personal shopper is always the focus of positive attention, and has the perfect gift for every occasion. But what's more, these entrepreneurs are not selfish with their talents. So if you'd like to teach the world to dress in perfect flattery, you may have found your calling.
But a personal shopping service is not for the tight-fisted. Having fun is a key component of squandering other people's money. Procuring trunkfuls of merchandise without a moment's fear, guilt, or regret requires complete unfamiliarity with buyer's remorse. You must buy with joy in your heart, and peace in your mind. If such has been your experience all along, you're a natural. So take that jacket by it's lapel and blithely proceed to... CHARGE IT!
Raking in the Dough
In all honesty you're probably not going to make a mill in the garment district. But who cares? With your spending habits, you probably couldn't amass so much as a dime. Wait and see, the money you save by purging that urge to splurge will add up in no time.
A realistic assessment of your potential salary will fall someplace between the $20,000 to $40,000 range. It all depends on your ambition, and the staying-power of your drive to keep on shopping.
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Your level of success depends only on your ambition — and the staying-power of your drive to keep on shopping.
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Start-Up Costs and Financing:
Are all you young entrepreneurs listening? Well then, hear this opportunity knock: Your investment need not exceed $1,000. Why so paltry? No need for office space or any high tech equipment means no need to impress the loan officer.
Read All About It:
- Entrepreneur's Start-Up Guide: "Personal Shopping Service;"
800-421-2300
Market Research:
A city bubbling over with activity is an ideal locale for a personal shopper. Your target customer is someone without a second to spare and with money to burn (why else would they actually be paying you for a day at the mall?). How do you find these sugarmama's and papa's? Here's what to look out for:
- High-end household income
- Traveling habits
- Corporations & executives
- Dual income-families
- Affluent single parents
- Tourists
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Your target customer is someone without a second to spare and with money to burn.
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Parceling through the odds and ends of your target area is not as daunting a task as it appears. The following sources can provide you with a mountain of invaluable demographic information:
- U.S. Census Bureau
- Local Chamber of Commerce
- An obliging librarian
While you're at it, determine what your pricing policy is going to be, and put it in writing. Because there are a lot of tough customers in this racket, most personal shoppers charge by the hour, not by purchase. Call several personal shoppers in your area to find out where they stand on fees. People still believe that you get what you pay for, so don't sell yourself short just because you're new to the scene.
Equip Yourself:
- A car for tooling around the shopping districts
- Daily planner to keep track of appointments
- Rolodex with clients names and phone numbers
- Business cards to expand your clientele
- Beeper and cellular phone, for last minute cancellations and
consultations
- Subscriptions to several magazines and catalogs
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WEB RESOURCE:
U.S. Small Business Administration Online
A terrific resource with information about the Small Business Act, tips on starting and financing your business, local resources, and much more.
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Getting the Word Out:
Now comes the fun part! Here's your chance to get creative. How are you going to attract a clientele that won't have you rifling through dumpsters come New Year's Day. Let's pretend you're short on connections, what now?
- Write your own press release and mail away
- Advertising in popular city publications
- Listing in the Yellow Pages
- Cold calling — brutal yet effective
- Strategic posting of flyers (hotels and corporate lobbies)
- Get free-handed with your business cards
Leah and Elina Furman are freelance writers living in Chicago, and are the authors of The Everything After College Book, to be released by Adams Media in the fall of '97. Leah and Elina invite readers to visit their homepage at members.tripod.com/~ElinaF.
© 1997 Leah Furman and Elina Furman. All rights reserved.
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