How do you open a retail store?

Answer by  tamarawilhite (17883)

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.

Answer by  Kennady (58)

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.

Answer by  vikkyrs (377)

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.

Answer by  Duncan (1124)

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.

Answer by  mpelle (343)

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.