Emily Benson, former owner of “The Fashion Truck” is a seasoned vet in the mobile retail industry. As a kid, Emily always had an entrepreneurial spirit, but it wasn’t until college that she began to develop her creative passion. She got her 1st taste of the ends-and-outs of the retail business while working as an Assistant Merchant at Abercrombie & Fitch.
Since then, she has opened a mobile boutique + a brick & mortar store and is now transitioning into Business Consulting. Her goal is to have more of a global reach for her consulting / coaching in order to help other people open and run successful businesses.
IN THIS EPISODE YOU WILL FIND OUT ABOUT:
- In college, Emily majored in Communications Design + Surface Pattern Design, of which her focus was fashion fabric design.
- After college, she worked in the Merchandise Training Program at Abercrombie & Fitch. In this 10-week program she learned how to design, manufacture and sell clothes.
- The training program at Abercrombie led to her position as an Assistant Merchant.
[bctt tweet=”Working as an Assistant Merchant at Abercrombie gave me a taste of what it was like to run to a good business. @Thefashiontruck” via=”no”]
- She also worked as a merchant at Henri & Bendel in New York.
- She worked in Corporate Retail for a total of about 7 years.
- Having the retail experience at the Bendels flagship location and then going on to help replicate the biz at malls really showed her how to open up a store. This is when she started pondering the idea of opening her own boutique.
- Emily’s mentors taught her how to think and act like a merchant. They also helped her to understand that when running a successful store, “you can sell as much inventory as you want but, if you don’t have a good margin, you’re not going to make enough money. You’ll end up paying yourself back for all of the inventory and then you won’t be able to pay your operating costs.”
[bctt tweet=”You can sell as much inventory as you want but, if you don’t have a good margin, you’re not going to make enough money… @thefashiontruck” via=”no”]
- In the Summer of 2010, Emily came up with the idea for her fashion truck. Purchased the truck in April 2011 (a 2004 Chevy Workhorse – gas engine). Purchased inventory in May 2011. On the road by June 9th, 2011. Closed the truck / decided to sell in Summer 2015.
- She opened her brick & mortar store in November 2013 and closed it in December 2015.
- She decided to sell just the truck and not the business name. The fully renovated truck is priced at $35,000. The only additional investment would be getting a new wrap installed + new inventory.
- In May 2013, she started doing consulting / webinars for the American Mobile Retail Association (AMRA).
- In March 2015, she published her book, The Ultimate Boutique Handbook: How to Start, Operate and Succeed in a Brick and Mortar or Mobile Retail Business.
- She believes that you have to INVEST IN YOURSELF in order to start any business.
[bctt tweet=”The results that you get from investing in yourself are always worth the money. @thefashiontruck” via=”no”]
- She also stands by the fact that you should price your product at what it’s worth and stick to your margins.
- After working in retail for almost 12 years, Emily realized that she has a bigger purpose…which is to help people start their own businesses. She has now transitioned into doing Business Consulting full-time.
Get Rich Lucky Bitch (book)
Skillshare (online courses)
Creative Route (Unique laser cut wood home decor accessories)
Astral Riles (Home Decor – modern fiber art wall hangings & tapestries)
ASK FFT (Leave us a voice-recorded question and we will answer it on the next episode)
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