Business Overview:

If you love hosting parties, have an eye for perfect party décor and are looking for a great business idea, you should learn how to start a party store. Everyone loves a party and regardless of the state of the economy, people will shell out hefty sums for party supplies to celebrate various occasions. The options are endless when you think about what kind of party store you will open. You can choose to cater to specific types of people and parties or you can choose to offer a little bit of everything. Niche categories could be children’s parties, Halloween costumes, or wedding supplies. You could also offer themed party items including supplies and costumes for luau parties and annual party dates like St. Patrick’s Day, New Year’s Eve and Christmas. You will need a storefront for this type of business so the amount of space you have will determine how much inventory you can carry. Obviously you can keep some inventory in the storeroom when it’s not “in season” and simply rotate your stock depending on the time of year. Once your business is up and running, you may choose to expand your services and offer special orders and rental supplies. While you won’t need to learn how to start a party rental business because rentals will only be a small part of your business, it still can be quite lucrative for you to offer some rentals. Wedding items, especially, can be rented out for top dollar if they are good quality. And the good thing about rental supplies is you will make money again and again on the same items (flatware, dishes, tents, tables, chairs, etc.). But even if you choose not to offer rental items, you will likely get plenty of repeat business if your prices are competitive, your supplies are new and fresh and your customer service is topnotch.

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

Your day will begin with a check of your store to make sure everything is in order and ready for your customers. You will coordinate with your staff so they have their assignments for the day. Throughout the day, you will work with customers to help them find the perfect items for their parties. You will also talk to wholesalers and distributors about upcoming shipments. You will spend some time marketing your business, taking out ads in local magazines and newspapers as well as online. At the end of the day you will record your sales, check in with your staff and make sure the store is clean and ready for business the next day.

About Your Customers:

Your customers will be individuals needing high quality, reasonably priced party supplies.

What You Need to Start:

• Business plan
• Marketing plan
• Storefront
• Party supplies (will depend on the type of store you open)
• Staff
• Display cases, clothing racks, etc.
• Computer with finance software

The Good:

• You get to work with people in a fun atmosphere.
• It is rewarding to make people happy.
• You can get supplies wholesale and resell with a high profit margin.
• You will likely get repeat business if your services are topnotch.
• Once your store is established, you can turn a sizeable profit.

The Bad:

• The startup capital needed for this venture is high.
• It can take a while to get your first customers and turn a profit.

Resources:

• Party Club of America
• Paper First Affiliates
• American Rental Association

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Business Overview:

You only need to turn on the television these days to see how popular cooking is and how lucrative opening a kitchen store business can be. It seems that every TV chef has his or her own line of kitchen supplies, not to mention all the standard names in kitchenware like Cuisinart, KitchenAid, Oxo and All-Clad. There is always a new gadget or line of cookware coming out and as the owner of your own kitchen store, you can be among the first to know about and stock these items. You don’t need to be a wonderful cook to do well with this business idea but it would be helpful to have an appreciation of cooking as an art and recognize that millions of people use cooking as a means of relaxing and expressing themselves. Your store can specialize in any area you are interested in such as baking, outdoor grilling or you could offer a wide range of items as a multi-purpose supply store. Not only will your customers be able to pick up gadgets, knives, pots and pans, you can expand your services to include cooking classes, demonstrations and cookbook signings. The hardest part of starting a kitchen store business will be finding the right location and stocking your store with the best quality products. Buying a franchise is an easy way to help get you started but you might not be able to make as many decisions about what products you carry. Either way, you will need to line up financing as this is not an inexpensive endeavor. Finding a knowledgeable staff will take some time but once your store is running smoothly, you’ll be able to take time off, attend cookware conventions, and enjoy the true freedom that comes with owning your own successful kitchen store business.

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

Your day as the owner of a kitchen store will begin with a check of all your products to make sure everything is in place and priced. You will meet with your staff to tell them about any new products or policies. After you open your store, you will spend some time on the floor visiting with customers, helping them find just the right tool for their particular cooking aspirations. You’ll also spend some time in your office marketing your business (placing ads online and in local magazines) and keeping in touch with your distributors. At the end of the day you’ll record the day’s income, check your inventory and get the store ready for the next day.

About Your Customers:

Your customers will be cooks of all levels, from beginner to expert, looking for kitchen supplies.

What You Need to Start:

• Business plan
• Marketing plan
• Storefront
• Kitchen supplies (pots, pans, gadgets, knives, cookbooks, etc.)
• Staff
• Computer with finance software

The Good:

• If you’re a food lover who enjoys cooking, this business will be fun to operate.
• It is rewarding to help people find just the right kitchen item.
• You are likely to get repeat business if you offer excellent products and customer service.
• You get to test out all the latest kitchen products.
• Once your store is running smoothly, you can take time off when you need to.

The Bad:

• It can take some time to get your store stocked, hire a staff, and open for business.
• The hours will be long at first as you will need to be at the store whenever it is open.

Resources:

• International Association of Culinary Professionals
• Cookware Manufacturers Association

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Business Overview:

If you love bringing smiles to kids’ faces and you’re a child at heart yourself, you should learn how to open a toy store where the grins are guaranteed. As the owner of your very own toy store, you can decide what types of toys to carry. Instead of the mainstream commercial fare, you may decide to stock only specialty or educational toys. You can also decide who your customers will be. Do you want to sell toys only for babies or will you stock educational toys for all ages? As you can see, opening a toy store is a business idea that can go in many different directions. This is why it’s vital to have a solid toy store business plan in place. Your business plan will help you answer these questions and many others so you don’t waste time and resources going in too many different directions. When you research how to start a toy store, you will need to consider how you will market your new store. Taking out ads in local family magazines is a good place to start. You could have a big grand opening sale with fun events and promotions that you advertise with direct mail. Discount coupons and word of mouth will also help get new business in the door. But perhaps the most important thing you can have at your store is great customer service. Shopping for toys at a large chain store can be aggravating and unpleasant. Giving your community an enjoyable alternative can be the key to success in the toy store business.

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

You will start your day making sure all your displays are in order and your staff is there and ready to open the doors. You will spend the majority of your day talking to customers and helping them find just what they need. You will also talk to your distributors to check on orders and delivery dates. You will meet with your staff at the end of the day to discuss any issues that arose during their shifts and to prepare for the next day. Finally, you will record the day’s earnings and take a look at your bottom line to ensure it is healthy.

About Your Customers:

Your customers will be toy lovers, both young and old, looking for the perfect toy for themselves or as a gift for someone else.

What You Need to Start:

• Business plan
• Marketing plan
• Storefront
• Toys
• Display cases and shelves
• Staff
• Computer with finance software

The Good:

• If you love toys and being around kids, this business is fun and easy.
• Helping kids find toys they love is very rewarding.
• Happy customers will return time after time to purchase toys from your store.
• If you know where to get toys wholesale, you can make a good profit.
• Once your store is up and running, your staff can handle the day-to-day operations and you can take time away when you need to.

The Bad:

• The investment is steep; you will need to have financing set up and be prepared to wait a while to turn a profit.
• Toy shopping can be seasonal so your profits will be inconsistent depending on the time of year.

Resources:

• American Specialty Toy Retailing Association
• Toy Industry Association
• Bureau of Labor Statistics Article on Toy Store Jobs
• Wikipedia on Toy Stores

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Business Overview:

If you have an eye for fashion and want to be your own boss, you should find out how to open a bridal shop and turn the dreams of countless brides into reality. Imagine spending your days surrounded by beautiful bridal gowns and blissful brides shopping for the perfect gown for the most important day of their lives. Helping these women find just what they are looking for can be so rewarding, not to mention lucrative. The average amount a bride spends on her dress is $1,200 USD. Add to that the cost of accessories like a veil and jewelry and you can see how much profit can be made with this business idea. But before opening a bridal store, it’s important you have a solid bridal shop business plan in place. This plan will help focus your efforts and answer questions about what types of gowns you will carry, whether or not you will also carry bridesmaids dresses and other formal attire, how you will market your new business, etc. Bridal shows come to town often and these are good opportunities to get your name out there and invite brides into your shop. Another option you’ll need to weigh is if you want to purchase a bridal salon franchise or start one from the ground up. A franchise might be easier up front (everything is already in place, perhaps even including some stock) but this will be the more costly option and you might not be able to run the store exactly the way you want at first. Whether you start from scratch or buy a bridal shop, this is a costly investment and you will need to line up financing before going too far. However, once your shop is up and running, it will only take a few satisfied brides to spread the word and soon your shop will be full of joyful brides wanting the perfect dress. You may even be able to add to your collection and begin to offer prom dresses, flower girl dresses, shoes, jewelry, and even tuxedos. Before you know it, your bridal shop will be the go-to place for every fashionable bride in town.

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

You will spend most of your day helping brides and their families find the right dresses. Depending on how large your staff is, you will either work directly with these women or simply check in on them to see if your employees are giving them the help they need. You will spend time communicating with fashion houses and distributors to ensure dresses are delivered on time and on budget. Whether you use an in-house seamstress or use third-party alterations services, you will check in on these alterations to make sure dresses are ready on time. Finally, you will record the day’s payments and check your finances to ensure everything is in order.

About Your Customers:

Most of your customers will be brides and their families. Depending on your inventory, you might have some younger ladies shopping for prom dresses and all ages looking for a special occasion dress.

What You Need to Start:

• Business plan
• Marketing plan
• Storefront
• Dresses, accessories
• Racks, display counters, dressing rooms with large mirror areas
• Staff
• Computer with finance software

The Good:

• The bridal business can be very lucrative.
• It is rewarding to help brides find just what they are looking for.
• If you love fashion, you will enjoy spending your day around beautiful dresses and being the first to know of new fashion trends.
• Once your shop is up and running, you can let your staff do most of the work and you can take vacation or days off when you want to.
• You get to work with others in the formal wear industry and attend bridal shows and, if you wish, fashion shows featuring the latest couture designers.

The Bad:

• It can take a while to get your first few customers.
• You will run into some brides and their families who are difficult to work with.

Resources:

• Association of Bridal Consultants
• Bridal Association of America
• Bureau of Labor Statistics on Clothing, Accessory and General Merchandise Stores
• Wikipedia on Wedding Dress

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Business Overview:

Attention fine food lovers: by learning how to open a gourmet food store you could generate a fantastic income sharing your passion and doing what you love. Indeed, if you’re creative and you have a passion for fine food this business idea could be your perfect fit. Gourmet food stores retail specialized, high quality foods to customers with a desire for the type of food that the store specializes in. Often they also sell specialized foods that they have freshly cooked. Therefore when starting this business there’s great freedom because you’ll have an almost unlimited choice as to your area of specialty. For example, you might start an upscale organic food store, a store that specializes in a particular type of popular ethnic food, or a shop that sells freshly prepared gourmet meal components—the possibilities are endless. In addition, opening a gourmet food store could potentially be a very lucrative venture. Specialty food products are a $30 billion industry, not least due to the fact that people spend more money on food annually than on any other expenses. For this reason it’s also a highly competitive industry, but if you’re creative and passionate with what you do you can definitely stand out and thrive with this business. Indeed starting a gourmet food store represents one of the most attractive and profitable business ideas because now more than ever consumers are looking for quality food, combined with a unique shopping experience. As a result the gourmet and specialty foods market has been booming, so opening a gourmet food store could very well turn out to be one of the best and most highly rewarding decisions you could ever make—both personally and financially.

A Day in the Life of a Gourmet Food Store Business Owner:

As a gourmet food store business owner, a typical day will begin early. If you offer your own cooked gourmet foods, you’ll be up preparing and cooking your gourmet foods before opening your store at around 7am or so in the morning. Alternatively, you may have staff who will do the preparation and cooking for you. If you’re not offering prepared foods you may spend some time checking your inventory and getting ready to place an order to keep the shelves well stocked. Throughout the day customers will enter your shop and you’ll serve them. You’ll ensure throughout the day that the food your customers are looking for are continually available, and that the store is kept clean, tidy, well-stocked and orderly. Typically your day will end around 6pm when you’ll shut up shop, and ensure that it’s clean and ready for opening the next day. Then you’ll want to spend some time reviewing your finances before you head home for the day.

About Your Customers:

Your customers will typically be upper market customers looking for specialized foods and a unique shopping experience. They will be looking for unique, high quality and specialized foods which are not widely available at typical food stores.

What You Need to Start:

• A shop location and name
• A specific area of specialty (i.e. ethnic, upscale organic food, etc.)
• A business license, food permit, and insurance
• Staff
• Specialized food suppliers
• Financial-tracking software
• A business plan
• Advertising to build up your business

The Good:

• This business can be highly lucrative.
• The work is creative and rewarding.
• You could potentially expand and create similar stores in other areas or cities.
• You’ll be your own boss and have the freedom to make your own decisions and express your creative spirit.

The Bad:

• The gourmet food industry can be very competitive.
• You will need to invest a lot of time and money to build up your gourmet store to get it well known and established.

Resources:

• National Association of the Specialty Food Trade
• Bureau of Labor Statistics on Grocery Stores
• Wikipedia on Gourmet

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Business Overview:

Thanks to reality TV, owning a motorcycle shop has become a highly glamorous venture so now’s the time to learn how to open a motorcycle shop of your own. There are several prerequisites for an entrepreneur to consider—a passion for bikes, a solid chunk of change to start your shop, a meticulous motorcycle shop business plan—before you can even begin to think of how to start a motorcycle shop of your own. Let’s face it, if you don’t love to eat, breathe, and live motorcycles, your shop will suffer for it. Bikers want to buy from another biker and from someone who can share in their passion for the lifestyle. They also want a variety of motorcycles to choose from, and this is where your startup capital comes into play. Whether you plan on just selling or selling and building custom motorcycles in your shop, you will need a serious piece of real estate and some motorcycles to stock it with. The good news is that your shop can easily be on the outskirts of town—people interested in your shop will make the trip. But you definitely need a large enough space to house and work on multiple motorcycles. Then there’s the business plan behind the initial business idea. You must have all your i’s dotted and your t’s crossed before you open the doors to your shop—this includes mapping out your pricing, sales commissions, repair contracts, licensing and insurance, and employee status, to name a few of the details that must be included in your business plan. If you’re still revved up and if this sounds like your dream business, seek out some guidance or a mentor and enjoy the ride.

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

A typical day in an enterprise like this can vary so greatly depending on whether you will simply sell motorcycles or if you will also restore and repair bikes. Additionally, it will depend on how hands-on you want to be—will you be selling or restoring bikes or will you operate solely behind-the-scenes of the business? Regardless, your days will likely be spent talking about, negotiating over, and testing motorcycles, and enticing your customers to share in your passion. On the business side of things, you will need to maintain your inventory, review your payroll, maintain your building, and keep the books so that your business thrives.

About Your Customers:

Much like yourself, your customers will likely be passionate about motorcycles. They may be looking for their first bike or they might be veterans of the hobby, but they will come to your shop if you have unique inventory, a good reputation for pricing, and superior customer service.

What You Need to Start:

• A business license, permit, and insurance
• A large piece of real estate for your business
• Motorcycle inventory
• Salespeople and/or bike repair experts
• A business plan
• Financial-tracking software

The Good:

• If bikes are your passion, you can turn your hobby into your career.
• The business can be highly lucrative.
• You can decide in which direction you want to take your business—sales, repairs, custom creations, etc.
• You get to meet like-minded individuals.
• You can build your business to include more than one shop if you desire.

The Bad:

• Startup investment is high in this business.
• If you’re not really into this business idea, it won’t likely be a success.

Resources:

• National Motorcycle Dealers Association
• American Motorcyclist Association
• Motorcycle Touring Association
• Wikipedia on Motorcycles

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Business Overview:

If home decor is your forte and you’re looking for a gainful business idea, learn how to open a furniture store with a solid furniture store business plan. With the right entrepreneurial spirit and a sizeable startup investment, you can learn how to start a furniture store and offer pieces that inspire you and lure in paying customers. If you’re a craftsman, you can showcase your work in your storeroom, or if you just have an eye for expertly crafted home furnishings, you can build an inventory that works for your location, your business, and your customers. To begin, you will need to have the money to invest in a retail storefront and in your initial inventory. This is probably the most daunting aspect of learning how to start a furniture store business because your location can determine the type of furniture you stock as well as your ability to be successful in furniture sales. If you love handcrafted, solid wood pieces of heirloom quality, you must find a neighborhood that can support a high-end store like that. Then you will need to stock your showroom and have a catalog of items for your customers’ perusal, and you’ll need to have access to these products for delivery if they are purchased. Delivery requires a truck and licensed driver and movers who can safely transport your sold items to customers, usually for an included delivery fee. Depending on your store hours, you might want to hire employees who can handle the demands of the store when you’re not available. Of course, you might also consider the possibility of selling your furniture online, either in addition to your store or in lieu of it. This could eliminate the need for a storefront and even for stocking inventory if you have pieces shipped directly from a warehouse. There are many options when it comes to a business like this, and many details to consider as well, but the potential for success is great if you love what you do.

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

A typical day for a furniture store business owner will consist of reviewing inventory, confirming deliveries, and assisting customers with furniture purchases. Certainly, being an effective salesperson for the furniture you love will help you ensure your business revenue, but knowing what to purchase and include in your inventory is crucial as well. In a business like this, keeping track of your profits and expenses is also critical to ensure you’re selling enough each month to support your store and build your business. For an online store, you will need to closely monitor your warehouse inventory and ensure timely shipping. You might also need a web designer to maintain your site. As with any business, exceptional customer service will be of paramount importance.

About Your Customers:

Your customers will be in the market for purchasing new furniture for their homes or businesses, or they will be shopping around to decide what style and price of furniture they want. A potential customer can become a paying customer when they are impressed with the quality and style of furniture your store offers, and when they can justify its price point and know they can rely on a favorable customer service policy.

What You Need to Start:

• Business license and insurance
• A retail storefront and/or online sales site
• Furniture inventory
• A knowledge of the furniture you sell
• Access to a warehouse
• A reliable delivery truck and movers
• Sales transactions forms (receipts, return policies, etc.)
• Financial-tracking software

The Good:

• You can become an expert in the type of furniture you sell.
• It can become a family business.
• The business can be very fruitful.
• You can eventually hire a staff to take care of most of the business responsibilities.
• You can enter into a franchise scenario, or build your own business to include multiple stores.

The Bad:

• This business requires a good deal of startup capital.
• Finding a great location for your store will require some time and energy.

Resources:

• National Home Furnishings Association
• American Home Furnishings Alliance
• Bureau of Labor Statistics on Furniture and Home Furnishing Merchant Wholesalers
• Wikipedia on Furniture

Technorati Tags: furniture store business plan, how to open a furniture store, how to start a furniture store

Business Overview:

If you have a passion for beauty, color and creativity, then learning how to start a flower shop could be the perfect match for you. This business idea is centered on selecting, cutting, designing and arranging flowers for a variety of purposes and occasions – including for weddings, graduation ceremonies and special events, or for people who want to give flowers as gifts to their partners, family and loved ones. Starting a flower shop is therefore excellent for anyone who enjoys “hands-on” work and is willing to seize the opportunity to channel their creative talents into a business – and enjoy the freedom, satisfaction, and financial rewards that will go with it. More people than ever before are looking into how to start a florist business, and doing so can be a highly lucrative business decision for you. Indeed, the floral industry now generates over $20 billion annually. One reason why this is one of the most attractive business ideas for so many people is that no special qualifications or prior experience are needed. No degree is needed to move into this industry and succeed – all you really need is passion, and a basic understanding of flower arrangement. However, even if you’ve never done flower arranging, you have two great options. First, you can easily someone to do the actual flower arranging while you tend the business side of things. Second, you can quickly and easily learn. There are many schools and institutions that offer classes on flower arrangement and show you how to start a floral business. In addition to this, you don’t even need to have your own shop! Arranging flowers for people, events and special occasions is a business that you can orchestrate from your own home and build up from there if you’re lacking in initial start up funds. With passion, creativity and commitment you can definitely build a thriving and highly lucrative floral business, wherever your location may be.

A Day in the Life of a Flower Shop Owner:

A typical day in the life of a florist or manager of a florist business will consist of selecting, cutting and arranging flowers for various purposes, occasions and special events. You will have customers call you or enter your shop, and you will create attractive flower arrangements for them based on their specifications. A customer may wish to give flowers as a gift to their partner, for example, and you will work with them to create something special. In addition to this, a large part of your day-to-day activities will be based around creating attractive and suitable flower arrangements for specific occasions and special events, such as weddings, birthdays, graduation ceremonies, or corporate events. Here you will work with clients or organizations and provide flowers that fit in with and compliment the theme of the occasion. Other day-to-day activities will include ordering and maintaining supplies of flowers, most likely from local suppliers such as nurseries and garden centers. If you hire staff to do the floral arranging you’ll want to oversee them and check their work until you have full confidence in their abilities. You may also want to offer delivery services in which case you may have additional staff to do your deliveries. You’ll need to give them their schedule every day to be sure that all deliveries are made on time.

About Your Customers:

Your customers will be people looking for gifts to give to others or to brighten up their home. They will also be people and/or organizations looking for flowers for special events such as weddings, birthday parties, graduation ceremonies and so on.

What You Need to Start

• A basic understanding of flower arranging – you can easily get this by taking a basic class.
• A business location (a shop, or your home)
• Basic tools of the trade – coolers, a display counter, trimmers, clippers and a storehouse
• A florist business plan – stating the markets you will target and advertizing strategies
• A flower supplier

The Good

• No special education or previous experience is needed to be successful with this business.
• It provides a great outlet for creative, hands on people.
• It’s easy to start up – you can run this business from your own home and build from there.
• It offers lots of variety; you’ll be catering for many different types of occasions and people.
• It can be very rewarding – you’ll be making a contribution to special moments and occasions in people’s lives.

The Bad

• It can often take up to a year to build an established customer base.
• Customers can be very detail oriented – you will need to be patient and accommodating or it may become frustrating and stressful at times.

Resources:

• Retail Florist Association
• Wholesale Florist and Florist Supplier Association
• Bureau of Labor Statistics on Floral Designers
• Wikipedia on Flower Shop

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Business Overview:

If you frequent the department store makeup counter and pride yourself on your makeup application skills, you may be ready for your own cosmetic store business. Imagine working with people all day, making them feel better about themselves by highlighting their natural beauty. Getting to experiment with all the latest products and colors is just one of the perks to this business idea. But first things first. You need to find a location for your store. You should look in areas where women tend to shop. A cluster of boutiques or an outdoor shopping mall would be perfect. Once you find your location, you will need to secure funding. Starting a store from scratch can be a lot of legwork so it might be worthwhile to purchase a franchise business. A franchise will be more expensive up front but it should come with furnishings, a staff and likely some cosmetics stock. A business plan will help you sort out these types of details as well as what types of customers you will cater to, how many product lines you will carry, what your price points will be, etc. You will also need to market your business locally in magazines and on the Internet. Having a slick website will not only increase business by getting customers into your store, but you can also sell your products online. The best part of this business is the freedom it will give you to work only when you want to. Assuming you have a capable staff in place, the business will run itself and you can spend your time marketing and researching the latest cosmetics trends.

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

Your day will begin by making sure the store is clean and organized. You will check that your staff is on time and be sure they are familiar with any new products. Throughout the day you will visit with customers and help them find the products best suited for their needs. You will spend some time marketing your business by distributing coupons or fliers to other shops in the area who cater to your clientele. At the end of the day you will record your income and straighten up the store for the next day.

About Your Customers:

Your customers will be individuals looking for high quality cosmetic products for themselves or as a gift for someone else.

What You Need to Start:

• Business plan
• Storefront
• Funding
• Marketing plan
• License and insurance
• Makeup counters, shelves, drawers, cabinets, etc.
• Staff
• Cosmetic products

The Good:

• Helping people look and feel their best is very rewarding.
• The demand for cosmetics will always be high.
• You can be your own boss and take time off when you want to.
• You get to spend your day doing something you love.
• After you make back your initial investment, your profit margin can be quite high.

The Bad:

• The startup costs are steep.
• If you don’t price your products correctly, your bottom line will suffer.

Resources:

• Personal Care Products Council
• Independent Cosmetic Manufacturers and Distributors
• Bureau of Labor Statistics on Barbers, Cosmetologists and Other Personal Appearance Workers
• Wikipedia on Cosmetics

Technorati Tags: cosmetic store business

Business Overview:

If you’ve ever bought the perfect outfit only to realize you don’t have shoes, jewelry or a purse to match, you know the value of a fashion accessories store. The perfect dress or suit is not complete without proper accessories. Not to mention it is accessories that give you the ability to dress up or dress down the same outfit. If you are a fashion fan and are looking for a fun business idea, you should look into opening your own accessories store. You will need a bit of startup capital since you will need a storefront to showcase your stock of fabulous frills. Look around your favorite shopping center or look for an area that is calling out for accessories such as next door to a dress shop. Once you find a good location, you will need to buy some inventory. You should be able to find some accessories wholesale and may also be able to buy some items in bulk to receive discounts. As you make sales, you will be able to buy more items to display but having a good amount of stock to begin with will help get new customers into your shop. You should also consider how you will market your new business. Word of mouth will probably be your most important tool in getting people through your doors. Spread the word at local boutiques and other stores that could refer their customers to you. You could also take out a few ads in local magazines and in the newspaper. Once you know how you want to set up your store, you will need to hire a small staff to help you. Having a small trustworthy retail staff allows you to take breaks, visit accessory shows, and take vacations when you want to. If you love fashion, having your own accessories store could be the ticket to freedom and business success.

A Day in the Life of a Fashion Accessory Business Owner:

Your day will begin by making sure your store is clean, organized and ready to open. You will make sure your staff is on time and aware of any new inventory. You will spend most of your day talking with customers and helping them to find the items they are looking for. At the end of your day, you will help your staff organize the store and prepare for the next day. You will also need to record the day’s earnings in your finance software.

About Your Customers:

Your customers will be individuals looking for a fashion accessory item for themselves or as a gift for someone else.

What You Need to Start:

• Business plan
• Marketing plan
• Storefront
• Inventory (shoes, jewelry, hats, etc.)
• Staff
• Business license and insurance
• Computer with finance software

The Good:

• If you’re a fan of fashion, you can do something you love all day.
• You can sell items for much more than you paid for them.
• You will get repeat business if your stock is high quality and your staff is courteous.
• You have the freedom to take time off when you need to.
• Helping someone find just the right item can be very rewarding.

The Bad:

• Startup cost is relatively high; it might take some time to turn a profit.
• At first, you will be spending every day at your store to ensure it is run properly.

Resources:

• Fashion Accessory Shippers Association
• National Shoe Retailers Association
• Jewelers of America
• Wikipedia on Fashion Accessories

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