Tanvi Asher of Peppermint Boutique

Learn how Peppermint Boutique has grown from a local boutique into a thriving retail business by staying connected to customers, adapting to industry trends, and using strategic resources to plan for the future.

Can you tell us a bit about Peppermint Boutique and what sets you apart from other boutiques in the area?
“I started Peppermint Boutique in 2012 when I was laid off from my corporate job, and it's basically a women's apparel gift and home goods store, which focuses on apparel that is predominantly made in the US, but we do import quite a bit as well.

All of our jewelry is also made by local artists, and most of our accessories and home goods are all made in the US, so we don't really import anything. We're very proud of having a boutique that caters to not only locals, but also we ship a lot of it. It's basically a women's apparel and gift boutique centered around bringing apparel that is very accessible at a very good price point. We are also very size inclusive, so we have extra small all the way up to 4x, so people do feel included.”

What processes or tools does your team rely on to identify upcoming trends and ensure the boutique continues to grow in a competitive retail environment?
“The way we try to stay ahead is I observe trends; this is a very interesting thing, but people don't know that politics and fashion are actually linked. So, I always observe, if this is what's going to happen, we can expect some clothing that is loud, we can expect some things that are maximalist, things like that. Also, there's always a growth and luxury tier of fashion. With the rest of my team, we have memberships at different publications, like Women's Wear Daily. It's a daily publication that sends you trends on what's new. They will send you what's going on at Paris Fashion Week or in Italy, things like that. But also, the girls are always on TikTok telling me, ‘This is trending on TikTok’ or ‘They're wearing this or that.’ I'm not on TikTok, so my team will show me what's new and up and coming. But there's a bunch of really great folks out there, like ‘I Deserve Couture,’ and they're just people who are observing fashion and taking the data in terms of like color or movie trends. It’s really pop culture and politics; all of these things really fuel what we wear on the daily.”

When you first approached Finger Lakes SBDC, what were the biggest goals, challenges, or opportunities you hoped to address for Peppermint Boutique?
“When I first actually reached out, it was because I was opening a second business that was very different from the first one. However, I realized that I could use help at Peppermint as well, even though it's been around now for 14 years. It really kind of helped me get my goals centered as well as understand where it is that I'm actually kind of taking a loss. Overall, it was to give me a better picture of what our business finances look like. I've always considered myself a pretty savvy person when it comes to managing money, but there were just holes and gaps that I wasn’t able to see by using your services, and it also helped me think about the future. So, looking at future predictions and making a big, structured Google document, if you will, to be able to see an overall view of the business without thinking about just one aspect that I could improve or take away from. My goal was also to increase my productivity as an owner of the business, increase our sales, and see where we could cut back. The goal really was to take a look at it, see if the business is still as healthy as it has been, and also look towards the future as to how we could improve and grow.”

Can you share a specific success or milestone your business achieved with the support of the Finger Lakes SBDC, and what part of their guidance made the biggest impact?
“The best part about the business and working with SBDC was the fact that when we took that particular document and presented it, I was able to get a line of credit. That’s always a success when you are able to present something and get what you need out of it. That was really nice for me, because without money, you're not going to be able to, continue the business. So the line of credit was success number one. Number two, it also allowed me to see that the business is positive and that it is making money and it is continuing to grow. Even though the growth isn't as fast as I want it to be, it's still higher than average growth. That was a very great way to see the overall health of the business and to see that it's still doing really well; for me, that was a great marker.”

What advice would you share with fellow entrepreneurs looking to use partnerships like Finger Lakes SBDC to enhance their operations and long-term success?
“I would advise someone who is coming to this organization to do a little bit of homework before getting there. Get a little business plan at least ready to go, because Mohammad helped me with so many different parts of that business plan that I didn't know I needed. I always tell everyone, and what my best friend, who has run a business for 25 years, told me, you need an accountant. So, before you do anything, make yourself available to a good accountant who can help you navigate some of the structures of money, so you understand that right away. The third thing I always tell someone is don't be intimidated by it. Go into it with an open mind because you will learn something you didn't think you needed to know. So those are my top three things that I would share with someone who's just starting out.”

Checkout Peppermint Boutique at shop-peppermint.com/