We recently connected with Tali Gallo and have shared our conversation below.
Hi Tali, thanks for joining us today. Let’s jump right into the heart of things. Outsiders often think businesses or industries have much larger profit margins than they actually do – the reason is that outsiders are often unaware of the biggest challenges to profitability in various industries – what’s the biggest challenge to profitability in your industry?
The bridal retail industry is known for it’s glamour and high touch experience. There two factors that eat into the profitability of a bridal shop: store appearance and expensive inventory. The overall costs to build out a bridal store can range from $100,000 to $400,000 depending on the formality and square footage. In bridal, it’s not just the build out cost, its the maintenance and the constant renovation. Long gone are the mom and pop looking shops. Brides want to shop in a boutique setting covered in the most up-to-date interior design. Everything has to be instagram worthy. Circling back to the inventory costs, bridal gowns can cost a store any where from $500 to $15,000 each depending on the designer and price range of the store. Multiple that number by 200 – 400 dresses, you have an inventory number no CPA is sure to love.
Tali, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
I’m Co-Owner and Stylist of The Bridal Finery in Orlando, FL. We are a high end bridal boutique providing a private bridal shopping experiences for our brides. We opened the bridal boutique in November 2017 after working for another bridal shop for 15 years. Opening up our own bridal shop gave us the ability to reshape how brides shop for their wedding dress. Typically in bridal you aren’t working with a professional stylist; however, you are spending often $5,000 and up on your wedding dress. Here are The Bridal Finery, you are a assigned a professional stylist to work with throughout your engagement. Myself and the other owner style along with a team of trusted stylists. The most comparable offering to our services is a celebrity stylist. They are with you until you walk down the red carpet. We are available to help our brides find the right dress and pair the appropriate accessories. While we don’t plan weddings, we are quick to find the right vendors who can help our brides with other aspects of the wedding. Basically when you purchase a wedding dress at the Bridal Finery, you have access to a team of stylists to help you with your whole wedding style. We are most proud of our level of care after the dress purchase. Too often, we find brides being sold by a wedding dress, but later find out the store they purchased from doesn’t follow up, host alteration fittings, provide them with steaming recommendations, or send them updates on their dress and accessories. This is where we shine the brightest. Purchasing a wedding dress with us is a full service experience until the walk down the aisle. We want this experience to be the highlight of their wedding planning.
Can you share a story from your journey that illustrates your resilience?
When we opened up the store in November 2017, I was three months postpartum. I took out a home equity loan, maxed out my credit card, and borrowed a small amount from friends and family. Everything was on the line and the pressure of being a new mom and a new business owner was something that is hard to even explain in words. On opening week, with the lovely support of our local wedding vendors, we were completely booked. It was myself and my business partner, Roberta Noronha. We did it all until we brought on our first employee about a year later. Around that same time I started having a lot of medical issues including hearing loss. It became more challenging and finally I went to visit the ENT and they diagnosed me with Meniere’s Disease along with a thyroid disease, Hashimotos. Adding autoimmune warrior to the title of mom and business owner, was physically and mentally challenging. Between the symptoms and all the doctor appointments on my days off, it was hard and still is. I’ve done a lot to strengthen my body and mind. I’m at a place where I feel I can handle just about anything that comes my way. Also, going through this has allowed me to make better decisions personally and professionally. I don’t have time to waste. Every day is a mission and my focus is always there. I don’t have the option to let my focus waiver. I’m proud to say The Bridal Finery has grown year after year. It wasn’t a walk in the park, but I know if I was able to accomplish this, other aspiring business owners can do even more!
Can you tell us the story behind how you met your business partner?
I met the Co-Owner, Roberta Noronha, while working at another bridal shop. On several occasions, she visited the store with friends and was extremely passionate about helping brides make the right decision on their wedding dress. She has a great energy about her and is just overall fun to be around. The friends she brought in really trusted her. I was able to first hand see what it was like to have Roberta in a bridal appointment. This made the decision easy. I approached the owner and said we should hire her. A few interviews later, Roberta and I were working together. Fast forward 12 years, the owner of the shop decided to sell the business. After a few months with the new owner, we decided this wasn’t for us and we wanted to do things our way. We opened our partnership bridal shop and are both in-store operating owners.
Contact Info:
- Website: www.thebridalfinery.com
- Instagram: www.instagram.com/thebridalfinery
- Facebook: https://www.facebook.com/thebridalfinery
- Linkedin: https://www.linkedin.com/company/42318764/admin/
- Youtube: https://www.youtube.com/channel/UCCBEwR339FtrdCeIV0ek39Q
- Yelp: https://www.yelp.com/biz/the-bridal-finery-winter-park-4
Image Credits
Bio Photo Rudy and Marta Photography Store Photos by Alex Michele Photos