The trading business is one of the most profitable. Sometimes a full cycle of operations from finding a supplier and purchasing a product to selling it to a customer can take only one day. But this business has a fairly high risk ratio. When opening your own business in trade, you need to be ready for them.
It is necessary
- -Marketing research;
- -Business plan;
- -Room;
- -Staff;
- -Products.
Instructions
Step 1
Conduct market research that shows the business situation in your chosen sales niche. It can vary significantly from region to region. If you have decided to develop a wholesale trading business and have chosen industrial enterprises as end customers, you must act "by contradiction."
Step 2
Analyze what is produced in your region, choose the most promising products from the point of view of the market. Next, decide where it will be most in demand. Be sure to take into account the presence of a direct freight connection with the location of the end user. Based on this information, create a business plan.
Step 3
Include sections on procurement, storage, promotion and sales in the business plan. Also, be sure to calculate the possible risks. Consider not only those related to your business process, but also general economic ones. They may include increased inflation, and a depreciation of currencies, and an increase in prices for raw materials, as a result of which - an increase in prices for products purchased by you.
Step 4
Make a financial plan for your future trading company. If you are going to start a business by resorting to loans, it must contain an investment part. It must provide information on how to repay the loan and bring a financial model of the business, which will take into account fixed and variable costs, as well as the receipt of funds.
Step 5
Decide where your warehouse should be located. Of course, this does not apply to the trading business, which involves only the search for buyers, i.e. work from the supplier's warehouse. But if you still need storage facilities, when choosing them, be guided by the availability of convenient access roads. When it comes to small consignments of small-sized goods, the availability of highways is sufficient. If you are going to trade in large wholesale or your product does not fit the epithet “small-sized” in any way - look for a room with railway tracks leading to it.
Step 6
Hire staff. The number of employees depends solely on the staffing table, developed for the needs of a particular trading business. If possible, it is better to outsource some of the business processes to third-party companies. Today it is much more profitable. For example, you can transfer to management such a function as accounting.
