Opening your own store can bring a lot of profit, but only on condition that all the nuances are taken into account, and the main actions are done correctly. Capital alone, even backed by the desire to start a business, will not be enough.
What needs to be done before the store opens
First of all, you need to draw up a detailed business plan, as well as determine what exactly you will be trading. Until you answer this question, solving the rest of the problems is simply pointless. If we are talking about a small store, it is better to choose a specific niche, and not try to sell everything in a row, following the example of hypermarkets. You can offer clothing, building materials, furniture, groceries, shoes, and many other products. Consider the demand for specific items, the level of competition, and the possibility of ordering products from suppliers.
Next, you need to choose a suitable name for the store, which would reflect its essence and be pleasant to the ear, memorable and easy to pronounce. You will have to order signs and advertisements, so take care of choosing a name in advance.
A suitable location for the store should be determined. It must be chosen taking into account the competition in a particular area, the location of residential buildings, educational institutions, clinics, etc., as well as the cost of rent. Organizing a store relocation is a troublesome and costly affair, so try to be as serious as possible when choosing a location.
Opening a store: basic steps at the very beginning
Having found suppliers, purchasing goods and completing other basic steps, you need to register your company and register a store. To begin with, it will be quite enough to open an individual entrepreneur, having correctly completed all the documents, so that in the future there will be no problems with the regulatory authorities.
When the goods are delivered to the chosen place, the premises are decorated in a suitable way, signs and advertisements are placed, employees will need to be hired. Pay special attention to finding someone to do the accounting. To begin with, most likely, you will not need a large staff of employees, but you need to pay great attention to the choice of people, because the prosperity of your business largely depends on their actions.
You must have capital that allows you to work, if not at a loss, then at least zero during the first months, since it is very difficult to open a store that will immediately recoup all costs. Your business should not collapse due to lack of money, especially in the case when things are already starting to go uphill, and the business turns out to be quite successful. It is necessary not only to take into account the main expenses in the business plan, but also to think over the possibility of quickly taking out a loan if necessary.
