Starting a Corner Store
Opening a retail store is one of the many businesses that give employment to a lot of people. If you want to open a corner store, then, you have to think of some factors that will affect the success of your store, like the population in the community around your store, or how much capital you need to raise to start the business.
Corner stores, as well as other types of retail stores, are a source of income to millions of Americans.
Corner store owners provide goods to a certain community, like food, apparel, appliances, electronic and electrical equipment, and so on. Likewise, retailing is also considered as one of the largest job providers in the world as it gives self-employed entrepreneurs the chance to earn a living. They are the people who invest their capital, labor, and skills to offer what the consumers need.
Now, what should you do when you want to start a corner store?
First, assess the location where you want to open a corner store. If there are a lot of houses or people around, then, the location is right for your business. The idea of opening a corner store is because there are a lot of consumers to buy your products. There’s totally no sense of opening one if you don’t have customers at all.
Second, you need to have capital. Estimate the cost that you will incur when you build or rent a space. Estimate how much will you spend in purchasing the goods that you will sell. Typically corner stores only require a small start up capital. If you don’t have any, you can try borrowing from your family or the bank. Banks can provide small capital for your business, provided you have a business plan to show them.
Third, open your store at a strategic location. That is, open it at the corner of a street where there are a lot of people passing by. It’s ideal if your store is visible and accessible to the public.
Fourth, make sure you have the supplies. You may buy your goods directly from suppliers. Buy wholesale as much as possible. You can save more when you do so. Some suppliers even give discounts or freebies to those who buy in bulk rather than retail.
Fifth, have a display window. See to it that the public can see a small portion or the whole line of your products displayed. It’s also a kind of advertising. You let the public know that you sell such stuffs, luring them to go and try your products.
Sixth, be friendly to your customers. There’s no better way to attract more customers than having a smile on your face. Wear it every time you have a customer. Remember, a word of mouth from a discontented customer may ruin your business.
20 Comments
- i am interested in owning my own cornerstore... given the size of the store with determine how much i need to start and fill it up on the average how much will i have to raise.. i know it seems like an odd question but with out capital how can you start anything... i have the capital i just need the direction and answers.
- I am interested in doing this exact thing. Dont know where to start. I found a great location and nothing is built on the land, should I buy the land first? HELP ME!
- i want to open a cornershop with a difference, i have found great location for this idea that i have and i have already found the shop that is ideal for all this. my main problem is that i dont have very good credit record at the moment and i dont know what to do or where to turn. do you have any suggestions as to what or where i can turn to now?
- i am looking to open a corner store i have the perfect location and a little amount of money and my credit ain't the best what should i do. It's hard when you don't have good credit.ms i don't know!
- LOOKING FOR SUPPLIERS FOR INVENTORY. WILL OPEN NEW CONVENIENCE STORE/CORNER STORE IN LORAIN/ELYRIA OHIO. PLAN TO SELL CIGS, BEER, POP, MILK, GROCERIES ETC. LOOKING FOR NAME AND NUMBERS OF SUPPLIERS OF INVENTORY. RECOMMENDATIONS OF WHO IS GOOD AND WHO TO STAY AWAY FROM. thanx
- I need support in finding money to open a cornerstone. 20 jobs have turned me down stating I'm not qualified, are they kidding!? Two degrees and years of work experience, oh yeh did I mention I'm 53!!! So I'll beat the system of age discrimination I'll open my own shop. Not easy but need the income. Have licensing for Lotto in Pennsylvaina, Phila is my home town at the moment and I thought rather then cigs I'd see locally made sauces and graves and perhaps, fun local crafts from local artist. Need help
- I want to start my Own business in charlotte nc I know what I want to sell but its just the matter of everything I'm going to need.
- I am ready to own my own corner store business I just need the capital and how to go about starting where and who are the retailers, whom I will buy my products from.
- i found a nice lil corner shop n would love to run it i've been told i can view it but i'm scared as i've hardly got no money and haven't got a clue where to start i know what i want to sell n do but scared i'm gonna get let down so anyone tell me or advise wt i shud do x
- Can you contact me on my e-mail Mr_birmingham or call me on my mobile 07930638041 to discuss about how to open a corn shop.
- I have constantly passed up this location that would be great for a convenience store but I dont have the money to start it, I was wondering what type of actions could I take.
- Hello not sure if this the right site but I am trying to open up a corner store but before I do I will like to know what type of license will I need to do so...
- location of business bristol pa i need help with what is require i am currently trying to open my corner store
- I would like to get a business plan to start a corner store. My goals are to reach 20 corner stores after 10 years of operation. What is the minimum of required capital to open one corner store.
- info on tire business and corner store
- What is the average income from each person that stops at a the location
- I so want to open a corner shop, i found the perfect spot for my container. There is a beautiful view when you stand there. How do I get a loan if I dont have a job with a payslip?
- I work at a corner store but i would love to run my own soon. i know what it takes to run one just dont know where to start
- How much does it cost to start your own corner shop in figures?
- My name is Derrick and I want to open a corner store in Gary Indiana. I have a lot of great ideas that will make my business successful, I just need to know what is the first step. If someone can give me some advice that would be greatly appreciated.
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