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How do you open a retail store?

I need to know everything about opening a store.

asked by Sharmaz (9)

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Tags:  business  how to

answers

You need a tax payer identification number. You need a business license. You need a location. You need inventory. You need to know your customer demographic and how to market to them.

7 votes

The most important thing to remember when opening a retail store is finding a supplier who can meet your needs. What I mean by this is finding someone who is willing to sale you wholesale merchandise at a reasonable price. So you have a "nice" net worth left over at the end of the week.

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posted by Kennady (56)
6 votes

A thorough understanding of the market will be useful. Get the required licence etc. for your retail store. The location of the store is important and select a place where you think the business will flourish. During the starting point itself, decide your selling strategies and how you are going to deal with your taxes.

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posted by vikkyrs (372)
4 votes

Open a store requires financing, a commercial space (leased or purchased), stock, and employees. The most difficult part of the equation is obtaining financing. Having a well-written business plan, along with good credit, is usually necessary.

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posted by Duncan (1120)
4 votes

First find a location, for a retail store it's good to have a stand alone operation. Identify what you are going to sell and to who you want to sell it too. Then you can determine pricing and advertisement.

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posted by mpelle (302)
4 votes

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