Opening Your Own Retail Store
If you have decided to establish your very own retail store, then it will be wise if you will start small. This is usually what most business entrepreneurs do.
In connection with this, there are some basic needs which you must buy so that you can start as well as open your simple and small retail store.
Licenses and Permits
In starting a retail store, the first thing that you must do is registering your business within your state. In this case, you will need to research your state laws as well as regulations in order for you to know what laws and regulations will apply and affect your retail business. Let us take for example, you have your own fast food chain, or a restaurant, or anything that has to do with foods, you will have to acquire a permit on food serving. This is commonly regulated by health departments of a state. Thus, if you are going to open retail store, then contact your state’s local department which is focusing on business establishment. Inquire what licenses and permits do you need and how you will acquire it. Bear in mind that without a license, you cannot start operating your business legally.
Select the Best Place
Next thing that you will do is to find the perfect location for the retail store that you are planning to establish. Most often than not, retail stores occupy a leased space which is small, vendor stand, or kiosk in the mall. You can also consider setting up your store online with the help of a website on e-commerce. With this, you can save money most especially if you are going to do your business operation on your home. This is what is usually referred to as home-based business which is now being done by almost everyone.
Other Important Facts
On the other hand, in order for you to hold money, you can opt to take advantage of a register. You might also want to acquire merchant account so that you can accept payments through credit card at the retail store that you have. Remember that a register must be electronic. Make sure also that it will be able to report and capture a history of the cash sales of your retail business. In this situation, you will be receiving statements from your provider on merchant services which contains the sales history of your credit cards. Moving on, you must find and discover the products that you will sell. Additionally, make an agreement or an arrangement to several manufacturer or distributor as well in order for you to receive the products that you are going to sell within your store.
Then establish and decide the price list that you are going to make. When clients are curious and interested on one of you product within your small shop, you are going to find a way so as to inform these individuals of your price. You can do this verbally, or by checking and marking each of the item or just by posting your price list at the back of your register.
41 Comments
- I am planning to open an clothing shop with wallets n belts, accessorize for men in a mall in Bandra(W),Mumbai..So i would request you to pls help me how to go about the same.waiting for a positive response
- Hi I am currently in Kenya, planning to open up a small cosmetic store in the City of Kisumu. Please forward some useful tips on how to successfully go about this.
- i am planning to open an clothing for men, women and kids in noida.so i would request you to please help me how to go about the same....
- I am located in Azamgarh, Uttar Pradesh. I have a commercial space at market location. I want to invest Rs.1 lac for retail. Which Retail segment fits best. Also advise me supporting Retail along with that. Regards, Pavan
- would like to open a corner shop(general store) in england, united kingdom. could you help.
- want to start a shop or maybe a fast food in salunki vihar area of pune city india, pls advise the requirements of registration and other permits to be obtained. thanks for your kind help
- I am a newly employed staff of an organization as the store officer in Ikeja, Lagos, Nigeria. I need your help to forward some useful tips on how to formulate store keeping policy, processes $ procedures for effective running of the dept. thanks
- Sir i want to introduce my private label in my store. Where can i get the best deal for imported fabrics for mens clothing in india. And also looking for suppliers for men and women clothing line. Pls help.
- I would like to open a general retail store. where can i get help with some fund and find suppliers. Please help
- I have a manufacturing unit of Kantha Stitch Silk and cotton sarees and women dresses. Kindly let me know where and whom can I contact for sale and the buyers. Thanks Mitra
- I already have a small retail store operating and am planning to make some extension to accommodate a takeaway food outlet. Please advice me on the stock control and book keeping side of this small business operation. I am a public health worker in the Government Department where I work and live in a small rural town. Please make respond in my favour. Thanks a lot
- I am planing to invest on small business. The place where i stay is apartment having around 350 houses, located far of 1.5km inside from the main road. In our location there are only two General shops. Now am planning to setup a business but am confused to figure out the kind of business. But my kind of option are 1.Electrical store, 2.Medical. so please suggest me and also give me the contacts and other proceeding work with dealer and what will be the budget for that kind of shop. stay at kothapet, hyderabad, andhra pradesh, india.
- i am planning to do any small business. i stay tollygunge in south kol on the main road. i can invest rs 300000/- but i do not understand what type of business that i should. i have also one shop room almost 100sq ft in the main rd. please give me the best suggestion. thanking you. mala
- I wish to start a retail shop for all varieties of tea power in ernakulam area, kerala. i need your advice reg initial process, name and address or contact nos. of tea wholesalers , distributors, etc. etc.
- I wish to start a retail shop for all types of tea powders in cochin, kerala. please guide me the initial investment and profit percentage (approx).
- I am planning to open a small cosmetics store. I lived in Trinidad West Indies. Please send me some information on how i could go about this, as well as handling the financial part of it
- i want to start dealership in agriculture product in dhanana bhiwani haryana
- I am looking for information on opening a casket store. Any advice will be helpful.
- i want to start retail business of clothes. please suggest me.
- i want to take a dealdership which would be of no risk and most importantly i will get good profit of it without any risk involved in this.
- hi, I want to open a general store in new delhi, INDIA. so please suggest me as to how should i go about it. Thanks & regards, Gautam juneja
- hi sir, i have done my fashion designing and i am planning to open a small apparel store... i lived in bangalore but i have plan to open in tripura. plz help me
- Hi I am interested to open a small departmental store of daily needs in Greater Noida. please advice some useful tips
- Hi I want to open scrap business in Aurangabad maharashtra India pleas give me a tips
- I will be grateful if I could get any help to know starting up cost on perfume and cosmetics retail business. contact me on misszielley@gmail.com
- hi, I want to open a general store in pathanamthitta District Kerala, INDIA. so please suggest me as to how should i go about it. Thanks & regards, Binesh, email -thomas_binesh@yahoo.com
- I WANT TO GET FRANCHISE OF EASYDAY STORE IN JAIPUR/GRATER NOIDA. PLEASE GIVE ADVISE ON FINANCIAL AND OTHER MATTERS
- hi i want to open a small retail shop in singaporeels give me the advice for entrepreneur and company registration
- hi i work as a balloon artist , i would like to know that if i just want to open a retail store for the supply of party decoration product then what are the circumstance for me for registration , and license . I am planning to open a store in Ahmedabad but i am having all residence proof of mine is of Vadodara Gujarat ... so please guide me .... thanks
- I want to start a retail shop or garment store in gurgaon , pls advise
- we want to open general shop where we found the supplier in cheap rate
- we want to open easy day store or big bazar store in amritsar we have our own place for easy day n for big bazar we want to acquire place in trillium. i am retired additional joint commissioner income tax office amritsar, punjab please help us to open our new store. thank you, Mr.Amrik Chand
- I want to open easy day store in Jammu & Kashmir. Kindly guide me that which document required to start easy day store. pls insure me about investment too.
- HI I am working with retail n Want to start my own mobile store and electronic s store I have 10 lakhs budget to start my business pls suggest me witch location is best for me n how can I start my business of mobile store n electronic store
- I want to get franchise of small retail business witch I can start in budget of 5 lakhs pls suggested me with right company n
- Hi, I am trying to put up a business in Mumbai or Bangalore on main places like Bandra, borivili etc. I want to have business in retail, clothing for men and women. It's my first step for business by opening small retail shop. Please help me, on how to get touch with maufactures on different brands and other procedures. And also what materials and how many manpower do I need and hire?. Thank you :)
- i am interested to start my own business in bangalore that it electronic or books and stationary its my first step for business by opening small business shop. on how to get touch with manufactures please help me.
- I am planing to invest on small business in golf link Ghaziabad UP. The place where i have shop of 125 sq feet having around 3500 apartments located far of 2.5km from the main city. In our location there are not a single shop of any product.Now am planning to setup a business but am confused to figure out the kind of business. so please suggest me.
- hello i am planing to open restaurant and cloth shop and daily need shop. can you please advice me, my location is in Himachal Pradesh. altitude is 4500 mtr above sea level. 450 km from shimla.
- hlw i'm from kailali, Dhangadhi nepal . i want to start small hardware , gas shop. on small investment. i have business location sure ready. please give some idea. because i'm first time start in business
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