Rhinestone Cowgirl Bucks Economic Downturn

Heather Rachel has always been known for her sparkling personal style.

Last week she sat in her newly opened Mainstreet store, , wearing a black shirt with a sparkling fleur-de-lis and an equally flashy belt she’s had for a decade. The store could be Rachel’s own clothes closet; it's filled with more sparkling rhinestones and more flashy accessories.

“It’s all rhinestone bling. It’s rock-and-roll meets cowgirl,” Rachel said.

There is much more to this Minnetonka resident than just sparkle and flash, though. Rachel is a financial broker who opened a boutique store Oct. 18 at 810 Mainstreet while retail nationwide is still struggling to recover from the economic downturn. She sees an opportunity to flourish and wants to be part of a downtown that’s steadily filling up.

“I like what’s happening with downtown Hopkins because 20 years ago it used to be a ghost town,” Rachel said.

“It’s exhilarating. It’s scary. It’s exciting. Every day you wonder, ‘Who’s going to walk in?’”

Rachel is not blind to the challenges ahead; she’s actually tailored her store to the financial climate. The average item there costs $15 to $20. Nothing costs more than $50.

She carved out her niche carefully. The store focuses on rhinestone accessories, with a sampling of rhinestone clothing, that she couldn’t find at a reasonable price elsewhere. She carefully sought out wholesalers who could keep costs down while still fitting Rachel’s chosen niche.

Her inventory turns over frequently, so she encourages shoppers to check back regularly. Frequent shopper cards add an extra incentive.

Running a business is not a new concept for Rachel, who ran her own business as an independent finance broker. For about a year-and-a-half she even helped to teach classes on how to start a business—providing eager entrepreneurs with tips on where they could look for capital.

But running a retail store is an entirely new experience. Rachel had to get creative finding her own capital.

“It’s all bootstrapping,” she said.

Rachel is betting that the economic crisis is like a forest fire—the flames wipe out many of the old trees, but young new ones sprout from the ashes. And if she’s right? Well, Hopkins’ downtown will have a bit more sparkle.

“It’s exhilarating. It’s scary. It’s exciting. Every day you wonder, ‘Who’s going to walk in?’” Rachel said.