Archive for the ‘Retail’ Category

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Start a Picture Framing Business

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

Start a Picture Framing Business Business Overview:

If you enjoy working with your hands and find satisfaction in making people’s memories last a lifetime, you should start a picture framing business. Picture frames are needed for everything from fine art and diplomas to posters and snapshots and can be made in any size. Operating a framing store that offers customers plenty of frame choices as well as excellent customer service can turn a hobby into a lucrative business idea. In order to have a large enough display area to properly show all your frame options, you will need to have a storefront. You should look for a location in a high traffic area, perhaps in a mall or outdoor shopping center. People love one-stop-shopping and if they can get a piece of art framed on the way to buy their child some shoes, they’re more likely to stop in. If you’re unsure how to start a picture framing business, you should look into purchasing a franchise. This will be a more costly investment but the benefits are huge. A franchise will come with training so you don’t need to have any prior experience in framing. You will also receive branding, marketing assistance, equipment and materials. Very few decisions need to be made when starting up a franchise which is great if you’re ready to get right down to business. However, if you’re interested in a more unique framing shop that perhaps caters to fine art, personally selecting each frame for your store would be important to your business model and a franchise wouldn’t be the best option. If you already operate an arts and crafts business, you could add framing to your services to bring in more customers. You can quickly learn this skill by reading a how-to book and practicing with a few pieces of your own before handling others’ art and photographs. Market your business by placing ads in the phone book and in magazines that cater to your market. If you specialize in framing large pieces, try to contract your services with a local art gallery so you can handle all of the framing for their business. They can also refer local artists to you for their framing needs. With excellent selection, skills and service, a framing business can be fun, exciting and quite lucrative.

A Day in the Life of a Picture Framing Business Owner:

Your day will begin by opening your store. You will help customers throughout the day with their framing needs. If you have a staff person helping you, you can work on framing during business hours while your employee mans the front of the store. You can also train your staff to do the framing as it’s a skill that many people are eager to learn. At the close of the day you’ll want to check your inventory and take of the finances to be ready for the following day.

About Your Customers:

Your customers will be individuals who need excellent framing services for their art, documents and photos.

What You Need to Start:

  • Picture framing business plan
  • Marketing plan
  • Storefront
  • Frames and mattes
  • Framing skills (or you can hire an experienced framer)
  • Equipment and other supplies
  • Staff (optional)
  • Computer with finance software

The Good:

  • The demand for custom frames will always be high.
  • You can charge top dollar for excellent framing services.
  • Franchises are available to help you get started.
  • You get to work with interesting people and unique art pieces.
  • Excellent service will earn you repeat business.

The Bad:

  • The start-up investment is high.
  • It can take some time to build your client base.

Resources:

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The Fun of Opening a Candy Store

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

Opening a Candy Store Business Overview:

If selling sweet treats sounds like your dream business, opening a candy store can be your ticket to success while doing what you love every day. Starting a candy store business is the perfect way to take a home hobby like baking and making chocolates to the next level. Since this is will be a pricey investment, it is wise to draw up a business plan before you go too far. Decide what type of store you will open, where your shop will be located and how you will market your business. You could open a candy store with strictly pre-purchased items or you could offer only homemade candies—or a combination of both. You could focus your business on chocolates, hard candies, baked candies, etc. Offering personalized treats for special occasions will help boost your business too. If you’re still unsure of how to start a candy store business, there are plenty of franchises available to help you get started. A franchise will be a more costly route than going it alone but you will get assistance with inventory, marketing, staffing, branding and ongoing support. If you’re looking to sell homemade items, a franchise might be too limiting for your inventory goals. However you decide to set up your business, it’s important that you have a high traffic location and distribute marketing materials around town. If you decide to make and sell your own candies, you could also set up a relationship with local restaurants and coffee shops that would sell your items in their establishments. Leave business cards that will lead their customers to your shop for specialty items. With high quality goods and excellent customer service, you’ll find this is one of the more enjoyable business ideas out there for a candy-loving entrepreneur. In fact, if word spreads quickly, you’ll have to ramp up production to meet the needs of your customers.

A Day in the Life of a Candy Store Business Owner:

Your day will begin well before your store is set to open as you will need to prepare and display your candy for the day. If you buy your candy products you’ll want to check your inventory and make sure the stock is full. If you decide to go the homemade route, you’ll need to be sure you prepare plenty of goodies to sell. Once your store opens you will spend your day helping customers and taking phone order for specialty items. You will also spend some time, perhaps on days you’re closed, marketing your business around town and online.

About Your Customers:

Your customers will be individuals looking for delicious candy treats for themselves or for a special occasion.

What You Need to Start:

  • Candy store business plan
  • Storefront
  • Candy preparation area (if you decide to make, not purchase, your candies)
  • Candy making equipment (pots, pans, thermometers, etc.)
  • Recipes
  • Ingredients (chocolate, nuts, sugar, etc.)
  • Display cases
  • Other items (coffee, sodas, etc.)
  • Computer with finance software

The Good:

  • With a good location, a candy store can be very profitable.
  • If you enjoy making candy, you get to do what you love every day.
  • If you decide to purchase your candies, you will still be very rewarded by seeing people so happy to purchase your goods.
  • Franchises are available to help you get started.

The Bad:

  • The start-up costs are high.
  • It can take some time to turn a profit.

Resources:

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How to Open a Cigar Shop – Online or Off

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

How to Open a Cigar Shop Business Overview:

If you’re looking for a unique business that can operate in a physical store or exclusively online, you should learn how to open a cigar shop. Cigars are increasing in popularity with both men and women in all age groups and are more widely accepted among the non-smoking population. Cigars are rolled fermented tobacco leaves that you light like a cigarette but there are no harmful additives. Opening a cigar shop in a storefront can be quite lucrative if your location is a good one. Looking for a location far away from any other cigar and tobacco shops may not be the best idea. If there is not a cigar store in a 25 mile radius of a particular area, there’s probably a reason. Instead, consider opening your shop in the same general area of a competitor. That way, you may be able to attract some of the traffic away from other stores. Find out what types of cigars other stores in your area offer and go a different direction. Select a niche like cigars from Central America and offer a greater variety of those items. Consider dedicating an area of your shop as a lounge for customers to smoke the cigars they’ve just purchased. Install TVs and make video games and magazines available to your customers. The more relaxed your customers are, the more likely they are to purchase more cigars and to come back for the experience. You may decide, however, when looking into how to open a cigar store, that opening a virtual store online may be a better option. Other than proper storage for your stock of cigars (a large humidor or a temperature and humidity controlled room), you will just need a slick website and knowledge of cigar laws and taxes. Your state’s department of revenue will have the latest taxation schedule that will include information about how cigars are taxed. You will also need to have a way to verify each customer’s age on your website since it is illegal (in some countries) to sell cigars to persons under 18. You should include in each shipment instructions for proper care of cigars to ensure they stay fresh and don’t dry out. Other options for opening a cigar shop are to operate a kiosk on the street or in a mall or you could have numerous cigar vending machines. Regardless of whether you choose to operate your cigar shop in a storefront, online or with a kiosk, it’s important to also offer cigar accessories like cigar cutters, humidors, lighters, cases, etc. Selling cigars can be one of the most profitable business ideas out there if you choose your location carefully, advertise your website correctly and offer the best cigars and customer service.

A Day in the Life of a Cigar Shop Owner:

If you run your business in a storefront, you will start your day by making sure your inventory is properly displayed before the shop. Throughout the day you will assist customers in finding just the right cigars for their needs. If you operate online only, your hours are more flexible but you will need to check orders often and ship out cigars in a timely manner. It’s important that you continuously update your website with new items and keep in constant contact with your suppliers to ensure you have the right amount of stock and your customers won’t have to wait for their shipments to arrive.

About Your Customers:

Your customers will be individuals looking for high quality cigars that come with excellent customer service.

What You Need to Start:

  • Business plan
  • Stock of cigars
  • Storefront or website (or kiosk or vending machine)
  • Humidor(s) or temperature/humidity controlled storage facility
  • Knowledge of cigars
  • Computer with finance software

The Good:

  • Cigars are increasing in popularity among a wider age, gender and socioeconomic population.
  • You can mark up the prices of your cigars and make a good profit while keeping prices competitive.
  • If you operate this business online, you can make your own hours and work from home.
  • If you operate this business in a storefront, you get to spend your days with fellow cigar aficionados in a fun environment.
  • Your customers will come back again and again for more high quality cigars.
  • As an industry insider, you have access to the best and newest items on the market.

The Bad:

  • If you open a physical store, start-up costs can be steep.
  • It can take some time to build up your customer base.

Resources:

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Opening a Lingerie Store

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

Opening a Lingerie Store Business Overview:

Opening a lingerie store is a fun and exciting way to be your own boss while helping to boost the self-confidence of women. The lingerie industry is worth over $29 billion (USD) annually. Even with plenty of competition, if you position yourself correctly, you could earn a piece of that pie. As you learn about how to open a lingerie store, you’ll need to decide who your target market will be. Lingerie runs the gamut from conservative to risqué so the type of items you carry will have a great impact on who your customer base is. Women will buy on average two bras and five pairs of briefs a year for everyday wear. So focusing on just the “basics” will bring in a steady stream of ladies looking to buy replacement items or something new that they saw on TV. In addition to carrying standard items, you might also carry specialty items like maternity bras, larger sizes that are usually hard to find and mastectomy bras. If you’re interested in racier fashion, you can carry lacy items and nighties that are not designed for everyday wear. In either case, you have the option of purchasing a franchise to help get your business started. A franchise will come with some inventory, marketing assistance and name recognition. If you are not interested in opening and closing a physical store each day, you can easily run your store online. If you choose to go this route, you will need a robust website and a storage facility for your inventory. Considering the demand for high quality lingerie and the popularity of shopping via the Internet, opening a virtual lingerie store is one of the smartest business ideas available today. Typically, online shoppers know what sizes to order but you should include a size chart and customer service contact information on your site. If you operate a physical store, especially if you stock everyday-wear items, you should be familiar with how to measure women to see what size bra they should buy. Or you can hire a bra fitter to work in your store which would free up your time so you can concentrate on overall customer service and marketing your business. Spread the word about your lingerie boutique to area wedding shops, fashion stores and maternity shops. Online stores can advertise on websites that also target your customer base. Keep in mind, you don’t have to choose between a physical store or an online store; you can have both. This would take more work, and more staff, to maintain both the shop and the website in order to keep customer service standards high, but it will greatly increase your market share.

A Day in the Life of a Lingerie Store Owner:

If you operate a physical store, you will make sure your lingerie items are neatly displayed before opening for business. You will spend your day helping customers find the right items. At the end of the day you will record your receipts, make your bank deposit, and tidy up for the next day. If your business is online, your hours are not so rigid but you will need to check emails from customers and ensure all orders are shipped out in a timely manner.

About Your Customers:

Your customers will be women (or men shopping for women) looking for lingerie items for themselves or as gifts.

What You Need to Start:

  • Lingerie store business plan
  • Storefront or website (or both)
  • Lingerie to sell
  • Storage facility if selling online
  • Computer with finance software

The Good:

  • Lingerie is a must-have for almost all women so demand will always be there.
  • You can sell high quality items for top dollar.
  • It’s rewarding to help customers find just what they are looking for.
  • A lingerie store is a fun and exciting work environment.
  • As an industry insider, you will be the first to see new trends and fashions.

The Bad:

  • It can take some time to build up your client base.
  • You have to be mindful about how much of each size to keep in stock so you’re not left with a large amount of unsold items.

Resources:

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How to Open a Western Wear Store

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

How to Open a Western Wear Store Business Overview:

If you have a passion for belts, buckles and boots, learning how to open a western wear store could be a very profitable business venture. Plenty of people enjoy western clothing whether they wear it for work or to make a fashion statement. The key to success with this business idea is finding a specialty and selling the best quality items to your customers. For example, boots come in all shapes, styles and materials. Running a specialty boot store would attract all types of western wear shoppers as your inventory could range from standard leather work boots to thousand-dollar hand-embroidered fashion boots. Deciding on a niche will help you focus your business and you will need to open fewer accounts with wholesalers to supply your inventory. You can run this business from a physical storefront which gives customers the ability to feel and try on each item, but be aware that this is also a very lucrative online business idea. Most physical western wear stores carry a little (or a lot) of everything including shirts, hats, boots, buckles, jewelry, etc., which requires a large storefront and a large stockroom. Only stocking one type of item gives you the ability to open a smaller boutique type store or sell online with a small storage facility, or both. With a robust website, you can run a storefront and offer online sales as well. You just need to have a keen eye for what items will be popular, price your items correctly and offer excellent customer service. You may soon need to rent more storage space to handle the stock that will be coming in and shipping out to your western wear customers.

A Day in the Life of a Western Wear Store Owner:

If you have a physical store, your day will begin by making sure your displays are neat and all items are priced correctly before opening for business. You and your staff will spend your day assisting customers. You will contact wholesalers to arrange for more items to be delivered. You will spend a portion of your day marketing your business by placing ads online and in local publications. If your store is online only, you will be able to work anytime you like. You will check online sales and prepare items to ship out—or direct your staff to do this for you. You will contact wholesalers for more inventory and market your site online.

About Your Customers:

Your customers will be individuals in need of high quality western wear for work or fashion.

What You Need to Start:

  • Western clothing (depending on niche – boots, hats, buckles, etc.)
  • Storage facility
  • Storefront and/or website
  • Staff (if operating a storefront)
  • Account with wholesalers
  • Computer with finance software

The Good:

  • Western wear is in high demand.
  • You can mark up items significantly to make a profit.
  • If you have an online business, you can work from your home.
  • It’s rewarding to help customers find just the right item.
  • As an industry insider, you’ll have access to the latest trends and fashions.

The Bad:

  • Start-up investment is high due to cost of securing initial inventory.
  • It can take some time to turn a profit.

Resources:

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The Best Way to Run a Newsstand Business

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

Run a Newsstand Business Business Overview:

If you enjoy interaction with people and have been looking for a profitable business idea, consider learning how to run a newsstand business. Even with unlimited access to information on the Internet, many people find that there is just something appealing and satisfying about holding a newspaper or magazine in their hands. You see newsstands in big cities and in small cities but there is always room for another stand if the location has a lot of traffic. People rushing to and from work, on their lunch breaks and out running errands will stop to buy the latest headline or pick up their favorite magazine. Once you’ve selected your location, you need to obtain the appropriate permits and licenses from the city, just as you would with any other street vendor business. Requirements vary by city so be sure to check with your local government website to see what applications you need to submit. A business plan will help you put all the pieces together and help you focus your efforts. Business plan examples can be found online or you can get professional help. Next, you’ll need to establish a relationship with a distributor that handles many different publications. This makes your job easier in that you don’t need to buy from individual publishers. And depending on the number of items you will stock, this can save you a ton of time and paperwork. Many distributors even have a buy-back policy so you can return out of date publications and get your money back. Even with a stand stocked with the most popular (and a few unusual) publications will only get you so far. To truly be successful with a newsstand business, you must diversify your stock and add items like cigarettes, snacks or lottery tickets. Everyone loves a one-stop-shop and the more items they can purchase at your stand, the more likely they are to stop by regularly. With a great location, high quality stock of items and wonderful customer service, a newsstand can be one of the more profitable business ideas available to entrepreneurs today. You may even want to eventually consider opening additional newsstands around town and hiring staff to help you operate them.

A Day in the Life of a Newsstand Business Owner:

Your day will begin early since you want to be set up and open before the first commuters rush by on their way to the office. Throughout the day you will help customers find items and restock papers and magazines as needed. At the end of the day you will close up your stand, properly storing the day’s leftover items and locking up. You will record your day’s earnings and place orders for any new items you may need. If you have multiple stands, you will visit your staff to see if they need any new orders and to collect the earnings from their stands.

About Your Customers:

Your customers will be passersby who need magazines, newspapers, candy, gum etc. These will likely be businesspeople, tourists and shoppers.

What You Need to Start:

  • Business plan
  • Permits and licenses
  • Newsstand
  • Various publications
  • Other items like snacks, cigarettes, etc.
  • Computer with bookkeeping software

The Good:

  • A newsstand business is easy to operate once you get everything set up.
  • You get to work with people all day.
  • This is a cash business so you don’t need to bother with credit cards.
  • You can buy a franchise business which would be much less work up front.
  • You get to work outside, not stuck in an office.

The Bad:

  • The startup investment may require you secure funding from a third party.
  • The hours can be long if you don’t hire people to help you run your stand(s).

Resources:

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How to Start a Hardware Store

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

How to Start a Hardware Store Business Overview:

In today’s world of do-it-yourself repairs and installations, learning how to start a hardware store could be one of the most lucrative business ideas available. This is not a small venture, however, and having a hardware store business plan will be the difference between success and frustration. Not only will you need a large space for your business, typically between 20,000 – 30,000 square feet, but you will need to stock that huge space with tools, materials, equipment and more. One option open to an entrepreneur starting a hardware store is purchasing a hardware store franchise. A franchise would come with everything you would need to get started but you would not have the freedom to choose what items you stock. Whether you open your own store or buy a franchise, it’s important to research your area to gauge its growth potential, the socioeconomic status of your customer base and what your competition’s weaknesses are. Figure out how you can compete with larger chain stores and don’t be intimidated with their market share. Studies show that smaller hardware stores are able to successfully share the market and, in fact, many consumers like independent stores for the level of customer service they receive. Many of your sales may come from local handymen, but you’ll also have plenty of homeowners frequenting your shop. When opening a hardware store, it’s important that you establish a good relationship with wholesalers to keep the right items on your shelves. You could also get your stock directly from manufacturers or distributors but usually wholesalers offer the best prices. With the right stock, a well-trained staff and excellent customer service, your hardware store business will flourish in your community.

A Day in the Life of a Hardware Business Owner:

Since your clients will not only be weekend warriors since you will also have contractors doing business with you, your day will begin early as you will need to be open before their work day starts. You will spend your day assisting customers and contacting your suppliers. You will answer questions from your staff and generally manage your store. Keeping a close eye on your inventory will be a key practice for this business. At the end of the day, you will record your receipts and make sure the store is neat and organized for the next day.

About Your Customers:

Your customers will be homeowners, property managers and contractors needing quality home-improvement supplies at a reasonable cost.

What You Need to Start:

  • Storefront
  • Business plan
  • Staff
  • Stock of items to sell
  • Shelving, racks, display cases, etc.
  • Computer with finance software

The Good:

  • The demand for hardware stores is very high.
  • The potential for profits is also very high.
  • Once your staff learns the business, you can be free to concentrate on managing and advertising.
  • You will have access to all the latest tools and gadgets.
  • You can expand on your business by offering in-home services.

The Bad:

  • The startup investment is high.
  • It can take some time to see a profit.

Resources:

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How to Start a Bicycle Shop

Looking for Capital to Start Your Business?

Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

How to Start a Bicycle Shop

If you have a passion for biking, learning how to start a bicycle shop could well be the business idea for you. As the owner of a bicycle shop, you will have the opportunity to sell bicycles to other biking enthusiasts and, in doing so, contribute to the health, fitness, and general pleasure and happiness of others. Many people are looking into how to open a bike shop as recent statistics show that there are about 45 million adult "cyclists" today, and cycling ranks fifth on the list of most popular outdoor recreational activities. If you would rather run this business from home, opening an internet bicycle shop is also a wonderful online business idea. You will, of course, need to have some storage space for your inventory if you choose to go the online route. After learning how to open a bicycle shop you’ll definitely be serving a passionate crowd so you’ll want to really know the different makes and models, and understand which bike to recommend to each rider. Moreover, you’ll also be contributing to the betterment of the environment as many people have started turning to bicycling as a cheaper and more environmentally friendly alternative to their car–at least for getting around locally. In addition to selling bicycles, you can also offer biking accessories such as pumps, helmets, spare parts and so on. By doing so you’ll greatly enhance your profits as the margins on accessories are generally quite high. You can also offer bike repair services if you operate in a storefront. Added to all this, no special qualifications or training are required to open a bicycle shop. Passion and enthusiasm are the only requirements, as the success of your bicycle shop will to a great extent depend on the excellent customer service that you and your staff will provide to your clients. If you can do that, you’ll have a great chance of building a profitable business selling bikes and serving others who share your love for biking.

A Day in the Life of a Bicycle Shop Business Owner:

If you operate a storefront you’ll typically want to be ready to open up your store by around 9 a.m. or so. Throughout the day people will enter your shop and you’ll provide excellent, enthusiastic and informative customer service as you help your clients select and buy the best bicycles and accessories for their needs. A typical day would end around 6 p.m., at which time you’d close up your shop, ensuring that it’s tidy and ready to open for business again the next day. You can of course hire staff to serve customers and open and close your bike shop for you. Other typical daily activities will include keeping an eye on your stock and ordering new bicycles and accessories to keep stock levels high. If you operate an online bicycle shop, your hours do not have to be so concrete. You will check orders each day and contact customers with any questions. You will coordinate shipping of bicycles and accessories to your customers and deal with manufacturers and distributors to keep a good supply on hand of the most popular bicycles.

About Your Customers:

Your customers will be people looking to buy new bicycles, or parts and accessories for the bikes they already own. Additionally, if you run a storefront business, your customers may come to you for your help repairing their bikes – if you choose to offer a repair service.

What You Need to Start:

  • A bicycle shop business plan
  • Marketing plan
  • Storefront or website
  • Inventory (a range of bikes, biking accessories, etc.)
  • Staff (if you have a physical store)
  • Business license and insurance
  • Computer with finance software

    The Good:

    • If you have a passion for biking, you’ll be doing work you love all day.
    • You’ll be contributing to the betterment of the environment as many people are buying bikes as an alternative to using their cars.
    • No special qualifications are needed.
    • You’ll be helping people become healthier and more fit.
    • Cycling ranks fifth on the list of most popular outdoor recreational activities so you’ll be serving a hungry crowd.

    The Bad:

    • Passion and enthusiasm are requirements as bicycle retailing can be very competitive, so the outstanding customer service you provide will be the key to you standing out from larger stores.
    • You will need to be very committed and work hard to make your bike shop a success, at least in the beginning.

    Resources:

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    Now is the Time For Opening a Wine Store

    Looking for Capital to Start Your Business?

    Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

    Opening a Wine Store

    Business Overview:

    If you are a wine aficionado and are looking for a way to apply your knowledge to your own business, you should consider opening a wine store. Wine is popular regardless of the state of the economy and by owning your own wine store you can become a player in this exciting industry. You will have inside knowledge about new trends and what wines are especially popular at a given time. You also will have the freedom to buy and sell wines you enjoy, thereby exposing your clientele to wines they might not otherwise have had access to. When you start looking into how to open a wine store, you’ll find that you have the option of buying a wine store franchise. Depending on your situation, this might be the wisest move since the store will come with everything you need to get up and running including counters, signs, price points and, most importantly, a stock of wines. The downside to buying a franchise is your options are limited as to what wines you carry. But at the beginning, you’ll have enough on your plate and it might be helpful to not have to personally select each and every wine for your store. You could, of course, also hire a sommelier to choose your wines for you. A great wine store will usually have at least one sommelier on staff to be able to help its customers with the finer points of choosing the right wine. If you’re more interested in opening a smaller store, maybe with a tasting room, stocking a smaller number of wines would be the way to go. This format would showcase your expertise and allow you or your sommelier to discuss each wine with your customers in detail. You may choose to offer other items as well such as wine accessories, glasses, wine racks, etc. if you have the space and sense the demand from your customers. If you are interested in selling wine but don’t want to have a physical storefront, you can operate this online business idea from your home. You will need climate-controlled storage space but you can purchase wine refrigerators to accomplish that if you don’t have a true wine cellar to store the wine bottles in. If you want to run an online wine shop, you will need to be familiar with laws regarding the shipping of wine as some states and countries do not allow wine to be shipped to individuals. Running this business online is a good option if you want to break into the wine business with smaller start-up costs than you’d have if you open a local store. Whether you choose to open a large warehouse type store, a smaller, boutique type store with regular wine tastings, or an online store, this business idea is ripe for new entrepreneurs.

    A Day in the Life of a Wine Store Business Owner:

    If you operate a physical store, your day will begin with a check of your store to make sure it is orderly and ready for business. You will make sure deliveries are taken and properly stored or displayed. You will coordinate with your staff about any new items they need to be aware of and you will speak to customers throughout the day helping them to find just what they are looking for. At the end of the day you will record your sales, check on any expected shipments and ready your store for the next day. If you operate an online wine store, you will want to daily check the orders that come in via your website. You will coordinate shipping wine out and getting wine delivered to you from distributors.

    About Your Customers:

    Your customers will be wine lovers of all levels from beginner to expert, looking for your expertise in recommending wines to suit their needs.

    What You Need to Start:

    • Wine store business plan
    • Storefront or website
    • Marketing plan
    • Stock of wines
    • Display racks and cases (if you have a physical store)
    • Wine accessories (if you offer them)
    • Staff (if you have a physical store)
    • Computer with finance software

      The Good:

      • For a wine lover, being around wine all day is a perfect fit.
      • You get to be in on all the latest trends in wine.
      • The wine business generates a fun atmosphere.
      • Mark-up on wine can be extremely high, therefore making you a sizeable profit on your inventory.
      • Extra profits can be made by offering wine events including tastings and pairings.

      The Bad:

      • The initial investment needed is very high.
      • It can take some time to turn a profit with such a costly inventory.

      Resources:

      Start This Business Today:

      To start a wine store business today, we recommend you purchase Become a Wine Merchant. This informative book will guide you through writing your business plan, choosing a name for your shop, finding distributors and much more. For more information or to purchase this HIGHLY RECOMMENDED book, click here.

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      How to Open a New Age Store

      Looking for Capital to Start Your Business?

      Are you wondering how to obtain small business financing so that you can turn your dream business into a reality? Would you like to know the best ways to obtain small business loans? Or maybe you want to know more about angel investors or venture capitalists. We highly encourage you to read our review of three solid resources that can help you with your new business financing in our article, Small Business Financing: How to Obtain the Capital You Need to Start Your Business.

      How to Open a New Age Store Business Overview:

      If you want to manifest your dreams, serve others and attract greater wealth into your life you should consider learning how to open a new age store. If you’re interested in the New Age philosophy, then this is a business idea that will provide you with a great deal of freedom to create a profitable business around your passion while contributing to the spiritual awareness of the world. There’s a great deal of freedom in what type of new age store you want to have. You could open a new age book shop, or a new age gift shop focused on stones, crystals, and incense, or specialize in offering classes and selling the necessary items needed. Alternatively you could open a store specializing in other areas of the New Age such as candles, angel items, Feng Shui, and so on. With the growth of the New Age community in recent years, along with an increase in general public interest in the New Age following the success of the best-selling book and DVD The Secret, there’s no doubt that opening a new age store could prove to be a highly profitable business venture for you. Indeed, in addition to selling new age products you could also further increase your revenue by teaching classes, hiring out space to healers, or hosting special events. A passion for the New Age and a desire to become successful through contributing positively to others are the only major requirements to achieve success opening a new age store, as no special skills or qualifications are needed for this business.

      A Day in the Life of a New Age Store Business Owner:

      A typical day for a new age store business owner would start by opening up your new age store for business around 9 a.m. or so. Throughout the day customers would enter your store, and you’d help them find the products they are looking for. You may also take bookings for special classes if you choose to offer them, such as energy readings, using crystals properly, etc. A huge part of this business is engaging with your customers, talking about their interests and sharing your thoughts on the topic at hand. You would then close up shop around 6 p.m. or so, ensuring the store is secure, clean, tidy, and ready to be opened for business the next day. Of course, you could hire staff to open and close your store for you and serve customers. In this case a typical day would consist of ensuring the smooth running of your store, monitoring stock levels, and placing orders for more products if your stock levels got low.

      About Your Customers:

      Your customers will be people who share an interest in the New Age and its spiritual philosophies.

      What You Need to Start:

      • Business plan
      • Marketing plan
      • Storefront
      • Inventory (new age books, candles, angel items, etc.)
      • Staff
      • Business license and insurance
      • Computer with finance software

      The Good:

      • If you’re interested in the New Age, you’ll be doing something you love all day.
      • The New Age is a growing community and general public interest is increasing—so you can profit from this positive trend both now and into the future.
      • There are opportunities for increasing revenue in addition to selling products by doing things like offering classes and organizing special events.
      • This business offers a lot of freedom—you can choose from many products and areas of the New Age to specialize your store in (books, Feng Shui, candles, etc.).
      • You’ll be making a living contributing in a positive way to the spiritual health and consciousness of the planet.

      The Bad:

      • It may take some time for you to see profits as initial start-up costs for opening a store are quite high.
      • You will need to invest quite a lot of your time getting your new age store up and running, at least in the beginning.

      Resources:

      Start This Business Today:

      To start a New Age store today, we recommend you purchase the book Open Your Own New Age Shop. This complete guide will teach you how to create a solid business plan for your new age store, decide what type of new age store to open, determine how much space you need, where to find wholesalers for your inventory, and much, much more. For more information, or to purchase this HIGHLY RECOMMENDED book, click here.

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