Amanda & Chris
Married: 2 years
Hometown: Madison, NJ
Business: Precious Plum
Amanda and Chris Plummer own Precious Plum (preciousplum.com), a boutique in Summit, New Jersey. Amanda culled her fashion industry knowledge as an account executive for Nine West apparel. Chris is a video game analyst who moonlights as the store’s finance and IT guy.
Inspiration
“I always wanted to own a boutique. We brainstormed the idea on our honeymoon.”
Getting started
“We met with our family’s financial adviser, then gathered pricing information for inventory, rent, monthly bills, and advertising. Once we found our suppliers, we got business credit cards with decent limits for our transactions.”
Double duty
“I work in the store five days a week, while Chris puts in at least five hours a week updating our computer systems and handling the financials with our accountant.”
Cash outlay
“We got a bank loan and then made a significant down payment, just like buying a house. The cost of the site alone was a few thousand dollars, which doesn’t include the professional photographer’s fee or the time spent doing monthly updates.”
Profits
“We’ve had a good first year.”
Balancing act
“I tend to be the worrywart, while Chris reminds me of the big picture and often puts it all in perspective for me.”